Boeing pleads for bailout

[Eldorado]

"Boeing is sounding the alarm and pleading with Washington for a $60 billion bailout for the company and its aerospace suppliers.

"The company's stock plummeted nearly 18 percent on Wednesday amid growing worries about how the aircraft maker and defense contractor would weather a series of recent storms.

"The coronavirus outbreak has devastated global travel, delivering a blow to Boeing, which was already in a fragile state after the grounding of its Max 737 jets and setbacks to fixing and delivering KC-46 military tankers for the Pentagon."

Full article at The Hill: Link

"Analyst Robert Stallard at Vertical Research Partners suggested a government bailout would be far from a panacea for Boeing, as it would leave the company saddled with debt and subject to stringent regulatory oversight."

Full article at Market Watch: Link

[freetoroam]

Less planes would not be a bad thing.

Its a lot quieter here now.

If these companies are bailed out, the passengers or tax payer will be the ones footing the bill. 

 

[Raptor Witness]

Any federal bailout of a US based military contractor, which has supplied weapons to any other nation on this earth, will result in new, and magnified natural disasters for the United States.

If our leaders think it cannot get any worse, they have not seen the Earth’s arsenal.

It will be like rolling thunder under your feet. Like the sound of a giant sword repeatedly drawn from its scabbard. Like a thousand ocean waves crashing all at once, removing every grain of sand that you have ever replenished your beaches with, and more.

 

Edited March 19, 2020 by Raptor Witness

[+Desertrat56]

This is total Bull****t!  That company does not need bailing out.  It's stock plummeted due to incompetence on the part of the owners or managers of certain projects, whether they underbid, under stated the time it would take or what ever, it should be their loss, Not Ours.

[aztek]

we'll need more military planes, a war is coming, laugh as much as you want, but a year later it will not be funny

[Doug1029]

Boeing is one of those companies that spent its windfall from the Republican tax law on stock buy-backs and acquisitions.  After all their wasteful and extravagant living, they want taxpayers to give them a free lunch.

Here's my proposal:  they can have the money, but the Federal government gets a 30% share of their stock, complete with voting rights, dividends and seats on the Board of Directors.  This is a loan, not a purchase.  They can have their shares of stock back when they pay off the loan.

In addition, two labor representatives get seats on their board of directors.  This is permanent.  Seats will be filled by annual elections of their employees.

This is how we save "too important to fail" companies who have abused their privileges,  If this is not acceptable to them, we let them fail.  All their equipment, tools, etc. will be there for the next company after they are gone.

Doug

[Buzz_Light_Year]

6 minutes ago, Doug1029 said:

Boeing is one of those companies that spent its windfall from the Republican tax law on stock buy-backs and acquisitions.  After all their wasteful and extravagant living, they want taxpayers to give them a free lunch.

Here's my proposal:  they can have the money, but the Federal government gets a 30% share of their stock, complete with voting rights, dividends and seats on the Board of Directors.  This is a loan, not a purchase.  They can have their shares of stock back when they pay off the loan.

In addition, two labor representatives get seats on their board of directors.  This is permanent.  Seats will be filled by annual elections of their employees.

This is how we save "too important to fail" companies who have abused their privileges,  If this is not acceptable to them, we let them fail.  All their equipment, tools, etc. will be there for the next company after they are gone.

Doug

Well looky there! The quintessential fascist.

[Sir Wearer of Hats]

26 minutes ago, Buzz_Light_Year said:

Well looky there! The quintessential fascist.

Why? If the government’s money is being spent to preserve the company, the government deserves a seat at the table. Same as if another business bailed them out, it’s not fascism, it’s capitalism. 

[+Desertrat56]

51 minutes ago, Doug1029 said:

Boeing is one of those companies that spent its windfall from the Republican tax law on stock buy-backs and acquisitions.  After all their wasteful and extravagant living, they want taxpayers to give them a free lunch.

Here's my proposal:  they can have the money, but the Federal government gets a 30% share of their stock, complete with voting rights, dividends and seats on the Board of Directors.  This is a loan, not a purchase.  They can have their shares of stock back when they pay off the loan.

In addition, two labor representatives get seats on their board of directors.  This is permanent.  Seats will be filled by annual elections of their employees.

This is how we save "too important to fail" companies who have abused their privileges,  If this is not acceptable to them, we let them fail.  All their equipment, tools, etc. will be there for the next company after they are gone.

Doug

I think that is a good proposal.  Boeing is NOT a "too important to fail" company.  There are a lot of companies that can take up the slack in what all of their endeavors.  In fact, contracts should be going to other based on their recent performance.

[Buzz_Light_Year]

14 minutes ago, Sir Wearer of Hats said:

Why? If the government’s money is being spent to preserve the company, the government deserves a seat at the table. Same as if another business bailed them out, it’s not fascism, it’s capitalism. 

And they define fascism as capitalism with government control.

[kartikg]

Oh common one bad year can't ruin the company, they have profited a lot during last few years. 

[Doug1029]

47 minutes ago, Buzz_Light_Year said:

Well looky there! The quintessential fascist.

Nope.  Capitalist.

Actually, government ownership of the means of production is the definition of communism.  In this case, 30% communist.

But I'm very much hoping that the businesses in question will find that repugnant.  In that case, they may either withdraw their request for funding or bight the bullet and do what they have to to save their company - or they could borrow the money from a bank.  At any rate, if the terms of the loan are spelled out, they will know in advance the exact number of payments and how long it will be before the govt's seats vanish.  This is not supposed to be a forever thing.

Doug

[Doug1029]

12 minutes ago, Desertrat56 said:

I think that is a good proposal.  Boeing is NOT a "too important to fail" company.  There are a lot of companies that can take up the slack in what all of their endeavors.  In fact, contracts should be going to other based on their recent performance.

If the company is not judged too important to fail, then we let it fail.  No problem there.

Doug

[Doug1029]

13 minutes ago, Buzz_Light_Year said:

And they define fascism as capitalism with government control.

That's what we have now.  Problem is, govt isn't exerting control.

Doug

[+and-then]

9 hours ago, aztek said:

we'll need more military planes, a war is coming, laugh as much as you want, but a year later it will not be funny

I thought about this today, actually.  China is in free-fall, economically.  The CCP may feel at risk of overthrow at some point and they may get squirrely and do unexpected things to tell the world they will NOT go easily.  Think of that government in terms of an individual who is facing an existential threat.  They can do crazy stuff.  I think this is entirely possible, especially if they loosen controls too early and have a second wave of Coronavirus deaths.  If we are being told the truth about the nature of this virus then it is inescapable that the Chinese will see a second wave.

[aztek]

4 hours ago, kartikg said:

Oh common one bad year can't ruin the company, they have profited a lot during last few years. 

no? lol , just watch, how is your 401k these days?

[aztek]

9 minutes ago, and then said:

I thought about this today, actually.  China is in free-fall, economically.  The CCP may feel at risk of overthrow at some point and they may get squirrely and do unexpected things to tell the world they will NOT go easily.  Think of that government in terms of an individual who is facing an existential threat.  They can do crazy stuff.  I think this is entirely possible, especially if they loosen controls too early and have a second wave of Coronavirus deaths.  If we are being told the truth about the nature of this virus then it is inescapable that the Chinese will see a second wave.

add low demand for oil, main, or more like the only  income of russia,  they will join china.  countries can only be dominant by means of military or economy, economy is in free fall, ........ every gvmnt is looking for dominance, especially communists and mafia state.  it is a perfect opportunity for them,. they will forge same alliance as hitler and stalin, then fight between themselves , but not before they destroy the world

Edited March 20, 2020 by aztek

[Raptor Witness]

Quote

War with the earth is like trying to land a man on the sun. 
Source 6-4-17

Senate aid package quietly carves out billions intended for Boeing, officials say - Washington Post 3-25-2020

Lawmakers have inserted in the Senate’s $2 trillion stimulus package a little-noticed provision aimed at providing billions of dollars in emergency assistance to Boeing, the aerospace giant already under fire for deadly safety lapses in its commercial jets, three people with knowledge of the internal deliberations said.

_____________

The arrogance of these men is incalculable. 

 

[Raptor Witness]

On 3/19/2020 at 10:56 AM, Raptor Witness said:

Any federal bailout of a US based military contractor, which has supplied weapons to any other nation on this earth, will result in new, and magnified natural disasters for the United States.

If our leaders think it cannot get any worse, they have not seen the Earth’s arsenal.

It will be like rolling thunder under your feet. Like the sound of a giant sword repeatedly drawn from its scabbard. Like a thousand ocean waves crashing all at once, removing every grain of sand that you have ever replenished your beaches with, and more.

Utah

Idaho

The Earth is hungry for direction.

[Eldorado]

Boeing’s Latest Crisis

The crash of the 737-800 is the latest crisis or controversy to hit Boeing.

Allegations Of Fraud

In October, CNN reported that a federal grand jury indicted a former key executive of Boeing for fraud. They alleged, “he deceived the Federal Aviation Administration while it was first certifying the 737 Max jet that would go on to have two fatal crashes caused by design flaws.”

https://www.forbes.com/sites/edwardsegal/2022/03/26/after-deadly-crash-faa-chief-defends-the-safety-record-of-boeing-737-800-planes/?

[Sir Wearer of Hats]

4 minutes ago, Eldorado said:

Boeing’s Latest Crisis

The crash of the 737-800 is the latest crisis or controversy to hit Boeing.

Allegations Of Fraud

In October, CNN reported that a federal grand jury indicted a former key executive of Boeing for fraud. They alleged, “he deceived the Federal Aviation Administration while it was first certifying the 737 Max jet that would go on to have two fatal crashes caused by design flaws.”

https://www.forbes.com/sites/edwardsegal/2022/03/26/after-deadly-crash-faa-chief-defends-the-safety-record-of-boeing-737-800-planes/?

Must be time for another bail out for a Too Big To Fail company?

[Gromdor]

I wonder if the plane that recently crashed in China has anything to do with this?

[Autochthon1990]

Oh so THEY get socialist safety nets and financial assistance, but helping the poor instead? Oh that's basically marxism right there!

[Myles]

This will just come down to how much the government benefits from Boeing.  

[Doug1066]

On 3/19/2020 at 5:53 AM, Eldorado said:

"The company's stock plummeted nearly 18 percent on Wednesday amid growing worries about how the aircraft maker and defense contractor would weather a series of recent storms.

How about placing an order for a few dozen fighter panes for Ukraine?

 

But, seriously, under capitalism you are free to succeed and make a profit.  You are also free to lose your shirt and fail.  Boeing doesn't like capitalism, except when we use the govt (socialism) to save their a----.

Doug