New Boeing CEO Insists On Moving The Company Towards Irrelevance
Shortly after we (MoA) published our latest Boeing piece, asking if the company can survive, the new Boeing CEO and former board member David Calhoun held a call with the media. It confirmed our pessimistic take.
Calhoun said that nothing was wrong at Boeing. It is just that foreign pilots are incompetent, that Boeing workers lack practice and that its customers have no idea what they are talking about. Safety, he says, is just a prerequisite for shareholder value, not an inherent value in itself. Dividends must continue to flow, even when that requires the company to take on more debt. Boeing should not develop new airplanes as its derivatives of very ones can beat the competition. Calhoun also wants to stay in his new positions as long as possible even though he lacks the competence to fill it.
https://www.moonofalabama.org/2020/01/new-boeing-ceo-calhoun-promises-to-create-a-bigger-mess.html#more