What is happening at Boeing is symptomatic of what is taking place across corporate America: Greed, greed, and more fucking greed. Leading to inevitable implosion:
"The combination of arrogance, ignorance, and greed should and will haunt Boeing for eternity"
The Boeing 737 was originally designed in 1966. Until 2019 it was the highest selling commercial aircraft in history. Due to the 737 Max debacle, however, it has now been surpassed in orders by the Airbus A320. It's an old design that has been modified over and over again for decades. It's Boeing's cash cow and therefore they never wanted to replace it with a newer fully redesigned version which would require a full scale recertification by the FAA. So they just kept modifying the original design and pretending it was the same plane. The company was given a long leash to self-regulate themselves and they abused the privilege for maximum profit and minimum safety.
As of today, the plane is officially out of production for the first time in over five decades. No one has any clue when it will come back into production, because it's now an inherently flawed design.
"In one email exchange in April 2017, an unnamed employee wrote: "This airplane is designed by clowns who in turn are supervised by monkeys."
These messages refer to Boeing employees telling lies, covering up problems and treating regulators with contempt."
In February 2018, a Boeing worker asked a colleague: "Would you put your family on a Max simulator-trained aircraft? I wouldn't."
"No," came the reply."
Up until today, the damage to Boeing's stock price has been surprisingly minimal. However, today that changed.
The largest weighted stock in the Dow is now rolling over hard, taking down the World's best known stock index.
The Boeing supply chain has been decimated:
This company builds the fuselage:
Extreme greed just cost 2,800 families their income:
Trump suggested that Boeing rename the plane to solve the image problem. That way no one would know they are on a deadly aircraft designed by clowns.
"First, I would FIX this aircraft. Then, I would rename it to SuperPlane, and add some cupholders"
While we're on the topic of clowns, we found out last week that Trump informed his generals that he would never be going to war with them. And they all replied: "We know".
“I wouldn’t go to war with you people,” the book quotes Trump as saying to the military officials. “You’re a bunch of dopes and babies.”
Getting back to the final implosion of Clowntopia:
Last year NorthmanTrader conjectured that when Boeing implodes due to arrogance, ignorance, greed, and buffoonery, so will the Dow.
Now we'll find out.