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Result of McDonnell Douglas merger which resulted in most of their executives who were MBAs taking key positions. While most Boeing managers retired and junior employees never got promoted as there were too many Douglas managers..
Let the execs that ran their company to the ground to the point where they lost their name in the "merger" take over the company that's doing great. What could go wrong?
"Boeing paid out annual bonuses totaling $418 million to about 68,000 eligible employees ..." Bonuses when losing money? Here is a company in desperate need of a management overhaul.
yup, it's the bonuses that are sinking the company and not overproducing malfunctioning commercial planes and taking on a boatload of awful contracts, it's just the workers that are the problem
It was the shareholders that threw out the original Boeing managers which focused on long-term health of the company, for the MBA managment from McDonnell Douglas in the merger after MD managers had driven itself into the ground needing to be aquired, since they offered more theoretical profit via cost cutting.
@@samsonsoturian6013 I thought some of that was from less short term focused shareholders wanted to have some way to tie in longer term performance to management bonuses than cash bonuses would. So the MBAs would just be taking what they can get.
It would be nice to see the millions and millions in bonuses clawed back that those managers received who made the decisions that led to this disaster.
US government following a European model and the response when government intervention doesn't turn things around is a trade war with desperately needed trading partners
What competition is there to protect from? Outside of Boeing and Airbus, there are a few manufacuters but they make stuff like private jets or at most planes suitable for regional transport. What keeps competition out in these sectors is how expensive and hard it is to make competitive planes.
@@reubenmorris487 No, the Chinese plane makers did that. Boeing made the same sins to a lesser degree, which was part of the problem as the 747 worked well enough to be sold
It's so unbelievably bad that they fired their quality inspectors and then it all went wrong. It probably saved them $50m/yr and cost $50m a day when the FAA capped production because the trust was so low.
Boeing has not even learned its lesson. Last week we had an all hands, where upper management was gushing about how 'automation' took their formal qualification testing down from weeks to only 3 days. So they are STILL cutting quality inspection under the idea 'automation' reduces the need for it.
@@neeneko At the same time so many US-citizens wonder why US car brands just don't sell outside of NA. Yeah, sure, the automotive industry in the US has cut costs, but they also lost competitiveness all around the world. So the US car industry is a REALLY bad example to work off of. IF they really wanted to make a comparison with the automotive industry they SHOULD look at Toyota and Honda, at two companies driven by engineers, with incentives for the line workers to find, report and fix defects, with bonuses given to those on the line that come up with improvements of any kind, companies that focus on quality. If things at Boeing don't change drastically it's IMHO a matter of time until the Duopoly of Boeing and Airbus slowly shifts more and more towards a monopoly, something even Airbus doesn't want. But with the hyper-fixation on short term gains over long term results, eternally and religiously beholden on the extra Dollar they can squeeze out of anything and anyone I don't see any end to this madness anytime soon.
@@javierpatag3609 de Havilland was the first to market with jetliner, basically ushered in the commercial jet age. A couple of their planes broke apart during flight due to cyclic fatigue of their airframe during pressurization and square windows. Boeing and McD learned from that and the rest is history.
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After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
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You have flown multiple times on a plane that has at least twice your age guaranteed. Frames have stayed fundamentally the same since the very first jetliners. Not really a problem.
Boeing's only profitable sector being Global Services (ie, repairs and maintenance) is like the Sirius Cybernetics Corporation's only profitable segment being its complaints department.
@@samsonsoturian6013 True, but does that necessarily mean Boeing is the best company to service them? You'd have to be at least tempted to look third party after the last few years.
The problem with Ground News probably is that all news it's based on is the same Western propaganda. It can't compensate for that problem. But then, that's not a problem for much of the Western world, they don't notice this, and would be upset if it was anything else. Right wing, left wing. That's small potato. when they all share the same skewed world view!
I'm sympathetic to the sentiment, but I can't help noting that human tumor Jack Welch, arguably the intellectual architect of corporate asset stripping, was a chemical engineer by training.
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency,stocks,through the assistance of my discretionary fund manager,
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It's an oversimplification. The MBAs promised the customers conflicting things, saying they could make the plane hi-tech and cross-compatible with older planes so they wouldn't need to retrain pilots. The engies tried, but there was the schedule, the compatibility, or the hi-tech and one of them had to go. Compatibility went, so a safety critical system still worked, just not in the way the pilots thought it worked so it was not used correctly
"Faulty software" is probably not a correct description! They put bigger engines on the 737 to create 737 Max, creating an airplane with bad characteristics. Then they tried to correct that hardware problem with software, and that's what they failed with. They tried to avoid designing a new airplane, avoiding that cost! We can only imagine what happens if this airplane loses electricity, and the bad characteristics aren't software compensated anymore. I guess the pilots would be somewhat overwhelmed. But this will of course never happen!
Advertising and data mining. That's what we export now, through all the social media. It's not a tangible thing and eventually we are going to be highly screwed.
MBA majors are almost all Wallstreetbets users. They bought a lottery ticket for the company so they could collect a share of the winnings and blame someone else if it failed
I don’t know how much it impacts the overall bottom line, but the same issues with the defence segment for Boeing is seen in their aerospace wing. They’re on the hook for a fixed price contract for a space capsule for NASA that is insanely behind schedule. Both Boeing and Spacex were awarded contracts (spacex about half as much) in 2014. While both missed the original delivery date, spacex started flying crew in 2020 whereas Boeing has yet to complete a crewed mission.
These are most likely penalties written into contracts for failure to deliver planes as scheduled. With hundreds of planes grounded due to the MAX fiasco and unable to complete their delivery, you can imagine how all these individual penalties would add up
Shareholders should be allowed to claw back bonuses from chief execs up to 20 years after they have left the company for damage to the company - that might stop some of this BS - sigh 😢
Corporate greed is out of control. Gone are the days of fixed margins and returns. Now corporations demand unlimited growth in profits which leads to a lot of layoffs of key personnel and a lot of corner cutting. The result is a noticeable decrease in quality. Sucks but ok for a toaster. Deadly for an airplane.
It's a vicious cycle that's driven by capital markets. Investors demand a short term gain which is hard on an industry that numbers development cycles in decades.
Starliner? You missed a HUGE (aka $B+) loss contribution, and the technical failures associated with it. Was losing faith in this channel to report on the complete picture. Your starliner oversight may have sealed that fate. Quality over quantity please, quit worrying about the YT algorithm, you got to where you are based on what you have done, not where you are going.
The Starliner failure should really make NASA just blacklist Boeing for a while. They had double the budget of SpaceX, and STILL couldn't deliver a working product.
I was there to watch the primary test flights of the 747. It flew right over our neighborhood, out of Paine Field. I had dreams, but it never crossed my mind that being a passenger on it was far too expensive to achieve.
And all the board members and executives, and those in charge who were primarily responsible for all of the deaths, walked away with no personal responsibility or liability whatsoever
To be clear, after the 737Max crashes, most airlines did NOT cancel their orders, as this video incorrectly asserts. The huge drop shown in the graph is due to Boeing being unable to deliver grounded 737 aircraft, plus the effects of the onset of the COVID pandemic.
Yes. You will get rich off it and get a golden parachute. Or isn't that what happend ? But it's also a bit there own fault. You always can buy European food, cars, planes and other products. It's like buying childern toys from China and then complain the paint contains lead.
"Cutting corners to maximize short term profits, is not in the long term interest of shareholders". Hahahahaha. Oh man. That's a good one. "Long term interests of shareholders". You got me there.
As an employee, you are as good as your last shift. If you are an airplane manufacturer, you are as good as the last plane you made. Boeing, is now garbage. I would make a point of avoiding using Boeing planes going forward.
Boeing is also very important to US Defense, so they got several things putting them in a position where people don't want them to fail - despite the issues.
Hopefully this will be a lesson to other manufacturing companies that has started to prioritize profits over quality. Wait...what am I saying? That's never going to happen.
There are only 2 large commercial aircraft manufacturers in the world, Boeing and Airbus. Its literally a duopoly and yet, its come to this for Boeing. Welll done 👍
The government decides how much they will pay. The technical requirements are so ill defined, and the government kept changing them. This drives the cost. Period
The simple fact that Calhun is on Boeings payroll until the end of this years speaks volumes. He should have let go immediately and should been forced to payback all his bonuses.
I mean, this is really self evident when you allow machines to make things your products go down and the reason for that is that humans can see the total of the project in the machine only sees the very small task. So a human can add that 16th of a millimeter, or take it away based off of what the product is shaped as. This is why modern autumn manufacturing, aerospace, and so on has such a problem with quality control and a drop and reliability. The reason for that is machinist used to constantly check, tolerances and equipment to make sure they are cutting or drilling, etc. at the tolerance that is required. A machine cannot check itself because it believes it is and tolerance.
Seems like they need to look at how much they’re paying their executives. It seems to be a trend of paying high salaries to the top all while they only care about lining their own pockets and they could care less about safety or the health of the company
The great irony of the Air Force tanker contract is that Boeing had lost the competition to Airbus, and sued to re-open the competition. With tremendous political lobbying, Boeing won the bid the second time around. As a fixed price contract, which they are losing money on while failing to deliver a working product.
H1B and outsourcing are also to blame. Outsourcing to "third parties" aren't part of your company, so they fundamentally don't share the same values. All they care about is getting their contract renewed, compared to, say, a "lifer" who hangs his hat on developing some novel component of a production aircraft, aka pride in "ownership". Outsourcing this to FugooCorp-in-Austria has none of that. In fact, just the opposite because they select multiple independent contractors, purportedly for "redundancy" but also to create competition because if the competitor does it cheaper they may be fired. Oh but it sure makes Boeing's balance sheet pretty because they don't have those pesky "liabilities" aka people who pour their souls into advancing aerospace. H1b are willing to work for less than Americans, in exchange for poorer communication skills and lower quality output (and month-long vacations to India that their American workers never seem to get). But the advantage is they *never* talk back to their bosses because getting fired means effectively being deported (2 weeks to leave the country). Their citizenship is tied to being a model employee.
It seems pretty odd to me how much you underplay the fact that Boeing also shat upon their employees over and over again, destroying Goodwill, and frittering away a large reservoir of knowledge base among older employees. Perhaps the single worst thing Boeing ever did was to treat their employees like crap.
The aftermarket services sector is coming under increasing pressure, too. Airlines have gotten wise to the fact that the OEMs are charging exorbitant prices because they can, and are pressuring companies to write service contracts that put the risk back on the manufacturers' side. These new composite aircraft are wearing out more quickly than designers anticipated in many cases so this is a significant risk going forward.
Even before all of these issues they still weren’t making any money, so just imagine if they actually cared about making good quality jets, they’d go bankrupt.
6:30 something feels insane about airlines getting three times the compensation for crashed planes than the families of those who died in said planes. Revenue and brand is worth more than losing a loved one?!
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You make videos like this near the lows.
Result of McDonnell Douglas merger which resulted in most of their executives who were MBAs taking key positions. While most Boeing managers retired and junior employees never got promoted as there were too many Douglas managers..
Yeah, these megacorps that no one person controls all need trends like that to explain major issues.
MBAs suck
@@johanalejandrocazadordepin7225but they are Masters at last, even they suck 😅
MBA vs. Engineers is a false dichotomy. Many of the authors of Boeing's demise had engineering background.
Let the execs that ran their company to the ground to the point where they lost their name in the "merger" take over the company that's doing great. What could go wrong?
"Boeing paid out annual bonuses totaling $418 million to about 68,000 eligible employees ..."
Bonuses when losing money? Here is a company in desperate need of a management overhaul.
Most of it is going to the grunts. Until this year, wages did not keep pace with inflation for obvious reasons.
@@samsonsoturian6013 Good point. Also, some "bonuses" are mandatory and not discretionary.
yup, it's the bonuses that are sinking the company and not overproducing malfunctioning commercial planes and taking on a boatload of awful contracts, it's just the workers that are the problem
@@Glitter_H_Hoof Don't forget about the $Billions in settlements, fines, and compensation costs...
It's to keep employees from going elsewhere. Replacing employees is more expensive than keeping them.
2:45 ad skip
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It’s unfortunate the mba types aren’t financially punished, just shareholders.
It was the shareholders that threw out the original Boeing managers which focused on long-term health of the company, for the MBA managment from McDonnell Douglas in the merger after MD managers had driven itself into the ground needing to be aquired, since they offered more theoretical profit via cost cutting.
Shareholders make these decisions. This is their fault.
Shareholders are reaping the results of constantly pushing todays profits instead of long term stability
The MBAs prefer stock options, a lot of them got demolished and fired
@@samsonsoturian6013 I thought some of that was from less short term focused shareholders wanted to have some way to tie in longer term performance to management bonuses than cash bonuses would. So the MBAs would just be taking what they can get.
They lost all the good legacy people over the last 30 years leaving it with a lot of low quality management.
Never let the MBAs into upper management
Or DEI quotas.
@@samsonsoturian6013you’re brain broken
@@samsonsoturian6013 Do you have evidence this has actually happened in this company?
@@RanEncounter they have a whole section of their website dedicated to it lol
lol unions are the ones that control boeing.
It would be nice to see the millions and millions in bonuses clawed back that those managers received who made the decisions that led to this disaster.
That won’t happen. Boeing will get bailed out and then they’ll just lay off a bunch more people so they can keep their bonuses going.
It won't happen
@@AnetaMihaylova-d6f You don't say!
Us Government enables this behavior by protecting Boeing from competition
What you expect corporations to be held accountable? That ia not possible in America
And by championing the stock market over everything else.
US government following a European model and the response when government intervention doesn't turn things around is a trade war with desperately needed trading partners
Notice Boeing hasn’t loss any of its federal contract awards.
What competition is there to protect from? Outside of Boeing and Airbus, there are a few manufacuters but they make stuff like private jets or at most planes suitable for regional transport. What keeps competition out in these sectors is how expensive and hard it is to make competitive planes.
Penny wise, billions foolish.
Cut costs at ALL costs...
@@reubenmorris487 No, the Chinese plane makers did that. Boeing made the same sins to a lesser degree, which was part of the problem as the 747 worked well enough to be sold
top level execs rare well aware "some of those pennies go into our pockets. the company pays for those billions. it's a no brainer 🙂"
@mm-yt8sf CEO get rich while people die in crashing Boeing planes ...Great business model 😂
Management took one of the greatest companies on Earth & ran it into the ground
Flew it to the ground...
It's so unbelievably bad that they fired their quality inspectors and then it all went wrong. It probably saved them $50m/yr and cost $50m a day when the FAA capped production because the trust was so low.
It's the Republican way. Didn't you vote for it?
@8PMFORMULA Neutron Jack didn't like Trump.
Yet the CEO and executives will get paid billions.
Airbus learnt a costly lesson without losing a single penny
Boeing has not even learned its lesson.
Last week we had an all hands, where upper management was gushing about how 'automation' took their formal qualification testing down from weeks to only 3 days. So they are STILL cutting quality inspection under the idea 'automation' reduces the need for it.
They're getting de Havilland'd
@@neeneko At the same time so many US-citizens wonder why US car brands just don't sell outside of NA. Yeah, sure, the automotive industry in the US has cut costs, but they also lost competitiveness all around the world. So the US car industry is a REALLY bad example to work off of. IF they really wanted to make a comparison with the automotive industry they SHOULD look at Toyota and Honda, at two companies driven by engineers, with incentives for the line workers to find, report and fix defects, with bonuses given to those on the line that come up with improvements of any kind, companies that focus on quality. If things at Boeing don't change drastically it's IMHO a matter of time until the Duopoly of Boeing and Airbus slowly shifts more and more towards a monopoly, something even Airbus doesn't want. But with the hyper-fixation on short term gains over long term results, eternally and religiously beholden on the extra Dollar they can squeeze out of anything and anyone I don't see any end to this madness anytime soon.
@@emp0rizzle May I please ask for an explanation and summary about being "de Havilland'd"?
@@javierpatag3609 de Havilland was the first to market with jetliner, basically ushered in the commercial jet age. A couple of their planes broke apart during flight due to cyclic fatigue of their airframe during pressurization and square windows. Boeing and McD learned from that and the rest is history.
Boeing assembler: Ok, I'm done installing the door plug. (reaches into his pocket) Why do I have 6 extra bolts? Must be from my work yesterday.
What an embarrassment for America.
Shut up
incredible embarrassment. We have a real problem with the corporate culture here.
And for the people that work for and retired from them.
No. It's an embarrassment for Boeing.
Luckily there are the only embarrassing thing about America.
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Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
Boeing has no, NO new airplane in the pipeline!
Think Blackberry.
That'll take a long time to cause major issue. The average commercial jet is older than you are.
Truss-Braced Wing Demonstrator
You have flown multiple times on a plane that has at least twice your age guaranteed.
Frames have stayed fundamentally the same since the very first jetliners. Not really a problem.
@@Skywarr405 Is that going work though??
If you mean a clean sheet design, then yes. But they have the 777x and and the MAX 7 & 10 variants to be certified.
Boeing's only profitable sector being Global Services (ie, repairs and maintenance) is like the Sirius Cybernetics Corporation's only profitable segment being its complaints department.
No, planes need to be serviced regularly. It's like if walmart's only profitable segment was the automotive department.
@@samsonsoturian6013 True, but does that necessarily mean Boeing is the best company to service them? You'd have to be at least tempted to look third party after the last few years.
@@samsonsoturian6013 Or a car dealership's only profitable segment being its service dept.
@@BSJinx Well, you can't exactly take your iPhone to Samsung for servicing
@@BSJinx Warranty work...
The avg salary of a boeing executive is 2.3 million dollars. 7000 employees are in executive level
Another too big to fail mentality.
Cannibalizing the company for personal benefits... A cancer that destroys most corporations.
Imagine paying ground news to tell you that fox is right wing
The problem with Ground News probably is that all news it's based on is the same Western propaganda.
It can't compensate for that problem. But then, that's not a problem for much of the Western world, they don't notice this, and would be upset if it was anything else.
Right wing, left wing. That's small potato. when they all share the same skewed world view!
Boeing even killed a former engineer
that statement can get you sued
Two, 2 former engineers/whistle blowers; not 1
@@LIONTAMER3D liars get scalped
That's wild speculation. In the US, it's presumed innocence until proven guilty, not like China or Russia.
Evidence please!
*If it's Boeing, I ain't going.*
Liar
Hes still alive, that's proof he's not"Boeing it"
This is what happened when you put MBAs in charge. Engineers should be in charge.
I'm sympathetic to the sentiment, but I can't help noting that human tumor Jack Welch, arguably the intellectual architect of corporate asset stripping, was a chemical engineer by training.
@@samuelglover7685he clearly forgot his engineering education 😂
Not necessarily. I’ve seen a lot of engineers turned management that did a terrible job
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Sir, planes need not fly, they just need to believe they can fly. That's how modern reasoning works.
In Other News…R Kelly offered chief engineer position at Boeing
Its because the planes do not have the correct pronouns.
I think you forgot to account the money secretly used to fund the assassins against all the whistle blowers
Evidence please.
@@flemmingsorensen5470 The witnesses are dead.
No mention of the Starliner failure? Thrusters, helium leaks, parachute issues, seals, etc. The list goes on
Greed and mismanagement caused their problems!
I would say Boeing needs to go after all the money paid out for bonuses over the last four years as it sounds like inside corruption.
Because it is exactly that 😂
MBAs managing engineers! MBAs are good at cutting costs and quality.
Death by faulty software is absolutely OUTRAGEOUS 🤦🏽♂️
It's an oversimplification. The MBAs promised the customers conflicting things, saying they could make the plane hi-tech and cross-compatible with older planes so they wouldn't need to retrain pilots. The engies tried, but there was the schedule, the compatibility, or the hi-tech and one of them had to go. Compatibility went, so a safety critical system still worked, just not in the way the pilots thought it worked so it was not used correctly
"Faulty software" is probably not a correct description!
They put bigger engines on the 737 to create 737 Max, creating an airplane with bad characteristics.
Then they tried to correct that hardware problem with software, and that's what they failed with.
They tried to avoid designing a new airplane, avoiding that cost!
We can only imagine what happens if this airplane loses electricity, and the bad characteristics aren't software compensated anymore.
I guess the pilots would be somewhat overwhelmed. But this will of course never happen!
Knowing how boeing is operating even after such a fiasco, I think it is going to be a herculean task for them to make sure planes fly in single piece.
Boeing and Intel both managed into disaster and they are not the only ones. What is the US supposed to export to pay off all the debt?
Export Trumpism?
Advertising and data mining. That's what we export now, through all the social media. It's not a tangible thing and eventually we are going to be highly screwed.
Brave new world....@@savannah115
Don't be silly. There's more to an economy than exports and there are more big businesses than what you see in the news.
500 Billion order book and still doing stupid things overlooking safety to save few billions is just crazy
The order book is part of the problem, Purchase "options" should not be anywhere near a true order book
MBA majors are almost all Wallstreetbets users. They bought a lottery ticket for the company so they could collect a share of the winnings and blame someone else if it failed
If it's Boeing, I'm not going.
I don’t know how much it impacts the overall bottom line, but the same issues with the defence segment for Boeing is seen in their aerospace wing. They’re on the hook for a fixed price contract for a space capsule for NASA that is insanely behind schedule.
Both Boeing and Spacex were awarded contracts (spacex about half as much) in 2014. While both missed the original delivery date, spacex started flying crew in 2020 whereas Boeing has yet to complete a crewed mission.
Its interesting that the airlines get more than twice the amount than was given to the families of the victims
These are most likely penalties written into contracts for failure to deliver planes as scheduled. With hundreds of planes grounded due to the MAX fiasco and unable to complete their delivery, you can imagine how all these individual penalties would add up
Shareholders should be allowed to claw back bonuses from chief execs up to 20 years after they have left the company for damage to the company - that might stop some of this BS - sigh 😢
You'd have to sue them as individuals and prove they artificially inflated sales
@@samsonsoturian6013yes exactly
Corporate greed is out of control. Gone are the days of fixed margins and returns. Now corporations demand unlimited growth in profits which leads to a lot of layoffs of key personnel and a lot of corner cutting. The result is a noticeable decrease in quality. Sucks but ok for a toaster. Deadly for an airplane.
It's a vicious cycle that's driven by capital markets. Investors demand a short term gain which is hard on an industry that numbers development cycles in decades.
Found the drug dealer
This id10t doesn't realize business cartels were legal for most of history.....
Man you always jam so much information into your videos. I really love watching them.
Starliner? You missed a HUGE (aka $B+) loss contribution, and the technical failures associated with it.
Was losing faith in this channel to report on the complete picture. Your starliner oversight may have sealed that fate.
Quality over quantity please, quit worrying about the YT algorithm, you got to where you are based on what you have done, not where you are going.
The Starliner failure should really make NASA just blacklist Boeing for a while. They had double the budget of SpaceX, and STILL couldn't deliver a working product.
Greed, corruption, bullying, murder, mass murder... Great company 😊👍
Lying isn't necessary in this instance
the only reason their Service division is still profitable is because their planes keep breaking down
I was there to watch the primary test flights of the 747. It flew right over our neighborhood, out of Paine Field.
I had dreams, but it never crossed my mind that being a passenger on it was far too expensive to achieve.
And all the board members and executives, and those in charge who were primarily responsible for all of the deaths, walked away with no personal responsibility or liability whatsoever
To be clear, after the 737Max crashes, most airlines did NOT cancel their orders, as this video incorrectly asserts. The huge drop shown in the graph is due to Boeing being unable to deliver grounded 737 aircraft, plus the effects of the onset of the COVID pandemic.
If it's Boeing i ain't Going!
Just listen to those stats about Boeing at the start of the video. There is truly no such thing as “too big to fail.”
Its their mistake that they went over quantity instead of quality
This is what happens when you place profits over people’s safety
The MBA/DEI guys didn't believe they were risking anyone's lives... Because they were stupid
Yes. You will get rich off it and get a golden parachute. Or isn't that what happend ?
But it's also a bit there own fault. You always can buy European food, cars, planes and other products.
It's like buying childern toys from China and then complain the paint contains lead.
Money ,sales and stock prices
Gordon Gekko is the only one who can take down Boeing.
Found the meme stock scammer
What about all the “accidental” deaths from whistleblowers?
"Cutting corners to maximize short term profits, is not in the long term interest of shareholders". Hahahahaha. Oh man. That's a good one. "Long term interests of shareholders". You got me there.
All the bad news is a direct result of terrible management making terrible decisions. And, as that management is still there;…
AIRBUS is my favorite.
absolute banger, great vid 👍
Great piece ! Learned a lot about bidding . Boeing is a study in Corporate greed . CEO's get bonuses even when Boeing fails .
Lying isn't necessary in this instance
They get tens of millions for killing people in flying coffins . Great business model
You mean violence actually has consequences?? 😮
Oh my gosh darn it 🤔🫨
What violence?
You forgot that Boeing as planned the too big to fail operation. Airforce 1 to be grounded otherwise.
As an employee, you are as good as your last shift. If you are an airplane manufacturer, you are as good as the last plane you made. Boeing, is now garbage. I would make a point of avoiding using Boeing planes going forward.
Boeing is also very important to US Defense, so they got several things putting them in a position where people don't want them to fail - despite the issues.
Don't you just love when corporation have to face up to the consequences of their greed?
@@orlandopockets6372 Share buy-backs you mean??
One thing you can’t say is that they weren’t aggressive. Even innocent bystanders just whistling nearby got KO-d in blind rage.
Boeing toyed with people' lives and is now paying the price and probably still paying for the next 5-10 years. GG
Hopefully this will be a lesson to other manufacturing companies that has started to prioritize profits over quality. Wait...what am I saying? That's never going to happen.
"Dead man waiting for a miracle" comes to mind.
Seems like their problems started when they moved their HQ to Virginia, then D.C.
They chose expensive places to live
There are only 2 large commercial aircraft manufacturers in the world, Boeing and Airbus. Its literally a duopoly and yet, its come to this for Boeing. Welll done 👍
Liars get scalped
No it started even before the MAX tragedies they had planes catch on fire but no fatalities
The government decides how much they will pay. The technical requirements are so ill defined, and the government kept changing them. This drives the cost. Period
The simple fact that Calhun is on Boeings payroll until the end of this years speaks volumes. He should have let go immediately and should been forced to payback all his bonuses.
Must be a very specific and complicated soap dispenser
I mean, this is really self evident when you allow machines to make things your products go down and the reason for that is that humans can see the total of the project in the machine only sees the very small task. So a human can add that 16th of a millimeter, or take it away based off of what the product is shaped as. This is why modern autumn manufacturing, aerospace, and so on has such a problem with quality control and a drop and reliability. The reason for that is machinist used to constantly check, tolerances and equipment to make sure they are cutting or drilling, etc. at the tolerance that is required. A machine cannot check itself because it believes it is and tolerance.
Boeing spends 4 billion per year in lobbying
They waste 4 billion a year
@@samsonsoturian6013 only 4 ? 😂
Fck getting in those flying death traps. I’ll drive😂
liar
bro no one wants to hear from you
It's not that these people that are responsible should be punished financially, they should be in jail
The space program and defence industry keeping it alive.
That's what they get for taking short cuts.
And here my local FA was just 2 months ago telling me “Beoing isn’t Spirit Airlines” *snickers “The US government will 200% step in”😂
Fine if it sacks the full upper and middle management.
Seems like they need to look at how much they’re paying their executives. It seems to be a trend of paying high salaries to the top all while they only care about lining their own pockets and they could care less about safety or the health of the company
Boeing has lost it’s “Why”.
It went from an engineering driven company to a cost cutting driven company.
All this and you didn't even mention Starliner
Never let the bean counters run and manage an engineering company.
The great irony of the Air Force tanker contract is that Boeing had lost the competition to Airbus, and sued to re-open the competition. With tremendous political lobbying, Boeing won the bid the second time around. As a fixed price contract, which they are losing money on while failing to deliver a working product.
4:05 The Boeing 737 is actually used for Transatlantic flights. I've tried it and it's not a nice experience but those flights do exist.
H1B and outsourcing are also to blame. Outsourcing to "third parties" aren't part of your company, so they fundamentally don't share the same values. All they care about is getting their contract renewed, compared to, say, a "lifer" who hangs his hat on developing some novel component of a production aircraft, aka pride in "ownership". Outsourcing this to FugooCorp-in-Austria has none of that. In fact, just the opposite because they select multiple independent contractors, purportedly for "redundancy" but also to create competition because if the competitor does it cheaper they may be fired. Oh but it sure makes Boeing's balance sheet pretty because they don't have those pesky "liabilities" aka people who pour their souls into advancing aerospace.
H1b are willing to work for less than Americans, in exchange for poorer communication skills and lower quality output (and month-long vacations to India that their American workers never seem to get). But the advantage is they *never* talk back to their bosses because getting fired means effectively being deported (2 weeks to leave the country). Their citizenship is tied to being a model employee.
Cut costs..... higher costs
At least Boeing has a good D.E.I program. Building safe reliable airplanes is secondary.
If its Boeing, I ain't going...
So 2 CEOs left in disgrace with golden parachutes. Corporate greed at its finest.
It seems pretty odd to me how much you underplay the fact that Boeing also shat upon their employees over and over again, destroying Goodwill, and frittering away a large reservoir of knowledge base among older employees. Perhaps the single worst thing Boeing ever did was to treat their employees like crap.
The Department of Government Efficiency should realize that manned aircraft for the military can be eliminated.
Boeing got what they deserve for being so greedy
good thing executive bonuses are safely deposited and the old ceo doesn't have to deal with anything (though that's probably better for the company)
The reputation of Boeing was built on Engineers making the decisions. Their mergers and reorgs killed that.
If its a Boeing I aint going
Yawn!
The aftermarket services sector is coming under increasing pressure, too. Airlines have gotten wise to the fact that the OEMs are charging exorbitant prices because they can, and are pressuring companies to write service contracts that put the risk back on the manufacturers' side. These new composite aircraft are wearing out more quickly than designers anticipated in many cases so this is a significant risk going forward.
Even before all of these issues they still weren’t making any money, so just imagine if they actually cared about making good quality jets, they’d go bankrupt.
2 and a half minutes od 18 mins before the video gets to the point?
They probably should go to be honest. They were a great company but they lost there way.
6:30 something feels insane about airlines getting three times the compensation for crashed planes than the families of those who died in said planes.
Revenue and brand is worth more than losing a loved one?!