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plncraze

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And watch the lobbying budgets. Ideology is for television entertainment. Lobbying is control.
 

Vigilant1

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Keziyah doesn't know how a company works. I'm guessing she is a grad student.
Rx for Economy: Policies That Keep Businesses Busy | RealClearPolitics

Boeing doesn't need to retire, put their kids through school, etc. If they had enough dough sitting around inactive to bridge a 6 month period of zero income, it would be corporate malfeasance. OTOH, it's responsible/prudent for individuals/families to have enough assets to keep going for a period of reduced income.

ETA: The above post does not mean I'm in favor of a govt bailout of Boeing. The "if" and "how" of any assistance is a different issue.
 

12notes

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Keziyah doesn't know how a company works. I'm guessing she is a grad student.
Rx for Economy: Policies That Keep Businesses Busy | RealClearPolitics

Boeing doesn't need to retire, put their kids through school, etc. If they had enough dough sitting around inactive to bridge a 6 month period of zero income, it would be corporate malfeasance. OTOH, it's responsible/prudent for individuals/families to have enough assets to keep going for a period of reduced income.

ETA: The above post does not mean I'm in favor of a govt bailout of Boeing. The "if" and "how" of any assistance is a different issue.
That's incorrect, corporate malfeasance is for actual crimes. There is absolutely zero reason they could not have kept the cash on hand - Apple has over $200 billion in cash, and has for the last 5 years. The reason they don't have cash now is because the idiotic system where the people hired to run the company get the majority of their compensation from raising the stock price now - hence all the companies that took 2019's enormous tax breaks and did stock buy backs which inflated the stock price last year, instead of investing in their facilities, staff, or new products. The people who made those decisions got a crap load of money, the companies were left unable to weather the current storm.

In a sane world, the stock compensation of the management team wouldn't vest until 5 years after they leave - tying their own compensation to the long term viability of the company. But the good old boy's club of corporate boards and management won't go for that.
 

Vigilant1

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I'm not defending Boeing's stock buybacks. But >if< they'd had 6 mos cash on hand, it would (and should) have been long since spent on this 737Max debacle. 2 black swans in a row.
 

Doggzilla

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The last 2 years over 850 of my competitors have gone out of business, which is nearly half the entire industry capacity. They had little to no cash on hand because they thought the current administration would be a windfall and they took out massive amounts of debt.

I had to lean my business to the point where it was operating at break even at rock bottom last year. Since everyone else went out of business it drove demand back up this year and now profit is higher than ever, since Im already running lean.

But then again, I was forced to live through the 2008 recession in Miami, which was ground zero. I saw many very wealthy people lose everything and be reduced to living off welfare or disability in an apartment.
 

Mad MAC

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If you are not reducing costs, they are going to go up. The problem comes when one needs to establish just what the cost and profit of activity is (i have worked in design office line support for an airline, we would cover our cost to the company just by a few events started by asking why are you doing that followed by a couple of hours producing paperwork, its hard to claim costs that never happened as saving).

At which funding point is engineering not capable of producing aircraft capable of flying for 1 in billion flight hours without an accident, requires quite a bit of skill even for a die hard engineer (although Boeing has a rough idea at the moment).
 

PMD

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I have had the great fortune to have been in business with people who lived through the '30s, and it greatly tempers how I run my business to this day. My base company will weather the coming storm on cash reserves, but one of our US entities (from which I was SUPPOSED to get my retirement income) is in resource sector, and with revenue about 15% of operating costs, and being typical US company (i.e. carrying debt) we had to lay off staff this month. It will not survive.

I keep saying that all of the rules will change and things are going to be very different, but back to the start of this post: we have been there 80-90 years ago, and sadly the lessons learned have slowly been lost over the decades (IMHO ending with repeal of Glass-Steagall). The upside SHOULD be that entrepreneurs will once more take over business and finance should slink back into its slimey hole be restricted to finance, not owning and running business.
 

12notes

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A major problem in US businesses is the organizational chart. Finance and HR are at or near the top, where they clearly do not belong. Finance should be under operations, engineering, etc. HR should be at the very bottom, below the janitors, they literally should work for everyone.
 

aeromomentum

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Let Boeing sell stock and bonds on the market. Only if they go to zero should there be any government money of any type going to Boeing. Issue new stock and bonds in exchange.
 

Vigilant1

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About the only way to make Boeing's future darker would be to make the USG a part owner and put a government functionary on their BoD.
"Hey, looks like you are struggling. Here's an anvil..."
 

aeromomentum

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About the only way to make Boeing's future darker would be to make the USG a part owner and put a government functionary on their BoD.
"Hey, looks like you are struggling. Here's an anvil..."
Without the government Boeing will have zero future and this is due to Boeing's own actions. While I have very little trust in the US government I have even less trust in Boeing management.
 

PMD

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The world of big airplanes is now very much dependent upon government support in many forms. That is simply reality. The problem, though, is not with where the support comes from, it is with who gets to benefit and manage that relationship. One thing I have learned in a half century of designing and building things as a small(ish) business is that you need to be able to talk with the guy (or gal) with the same name as the company to have a hope in hell of having an "entrepreneurial" relationship. We know that these countries (Can/USA) were built by the Bill Boeings, Donald Douglas', Henry Fords and Armand Bombardiers of the past, but we have failed to notice that the world of big business is owned and RUN lock stock and barrel by the Casino Capitalists of Wall Street. Since they also own government, once more, lock, stock and barrel they can exploit that cozy relationship, but doing so destroys how and WHY the company is run. THAT is how HR, Finance and Legal come long before Engineering in the pecking order. Boeing is the analogue of the rest of the death of Main Street and our entire economy. Boeing is not being run as William Boeing might have run it with HIS money and his shareholders' money, it is run as a stock speculation/M&A/Finance model perfected by the likes of Jack Welch who work with OPM.
 

Jimstix

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I think that we can all agree that the current corporate cannibalism of America is, shall we say, not a good thing. However, I have a solution: Vote for politicians that won’t take money from Wall Street or PACs and vote out those that do. All politicians in America need to be told over and over that they work for you – not PACs, Lobbyists, or Wall Street.

Call your Congressman’s office and tell them that Congressman/Congresswoman (your congresspersons’ name) is expected to work for your benefit, and not for Wall Street’s.

Call your both of your Senator’s offices and tell them that Senator (your Senators’ name) is expected to work for your benefit, and not for Wall Street’s.

That is a total of 3 phone calls. Be brief, be respectful, and firm. Then follow up with an email to each. Then vote your own interests in November. Jimstix
 

Pops

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I think that we can all agree that the current corporate cannibalism of America is, shall we say, not a good thing. However, I have a solution: Vote for politicians that won’t take money from Wall Street or PACs and vote out those that do. All politicians in America need to be told over and over that they work for you – not PACs, Lobbyists, or Wall Street.

Call your Congressman’s office and tell them that Congressman/Congresswoman (your congresspersons’ name) is expected to work for your benefit, and not for Wall Street’s.

Call your both of your Senator’s offices and tell them that Senator (your Senators’ name) is expected to work for your benefit, and not for Wall Street’s.

That is a total of 3 phone calls. Be brief, be respectful, and firm. Then follow up with an email to each. Then vote your own interests in November. Jimstix

Been there and done that many times and its a complete waste of time. The form letters you receive are an insult. Money talks in their world and its the only voice they will hear.
 

dog

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Been there and done that many times and its a complete waste of time. The form letters you receive are an insult. Money talks in their world and its the only voice they will hear.
[/QUOTE
Money doesnt talk it screams
 

Jimstix

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I know that I'm frustrated with politicians as are you. But if we keep sending back the same bad actors every other November, they won't change. Vote YOUR self interests, not somebody else's. Jim
 

plncraze

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Also support journalism which can be critical of big corporations. As a side note, how much money will Textron get in the bail out? Enough to save the Bonanza/Baron !ine? LOL. Walter and Olive kept going through a depression and a few recessions and even made aluminum cook ware but this probably it. Seriously they had an explosion a while ago that shut part of Beech down.
 

wktaylor

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Dog... well/wisely stated!

I'm adding Your words to my quote collection, with slight changes, thus...

"Money doesn't talk... it screams" - Dog, Homebuiltairplanes.com
 
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