Boeing’s problem does have to do with making an extra dollar at the expense of other concerns. “Why is Boeing such a shitty corporation?” —- https://robertreich.substack.com/p/why-is-boeing-such-a-shit...
There are some big problems here, first and foremost the idea that because Airbus is owned by governments that makes it some how better. Also they seem to not understand that "Boeing’s four largest shareholders" being Vanguard, and State Street means most likely Boeing largest Shareholders are peoples 40K's and IRA's. Meaning everyday middle class American's
Nothing in this standard Reich diatribe against capitalism, in favor of socialist utopia of Workers Unions would solve all problems accurately identifies the actual problems at Boeing I was talking about in my parent comment.
Boeing being owned by Vanguard is a problem, but not because Vangaurd seeks to maximize profits, infact in recent years so called "Stakeholder Capitalism" which I believe Reich is also a proponent of has taken over Vangaurd and even more so Black Rock which puts a whole host of things over profits, and IMO this "Stakeholder Capitalism" is the root cause of the problem. It is a cancer in Business.
This doesn't give "everyday middle class Americans" influence on how Boeing operates, and these everyday middle class Americans aren't directing these funds to invest in Boeing -- index funds set some critera for inclusion which is passively applied, and actively managed funds' managers make some judgement, factoring in policy, risk, and growth-based criteria and strategy. These funds are concerned with growth for their customers, and their customers have no awareness, input, or say, via their investments in these funds, on things like "door plugs are made in Malaysia, where workers’ concerns about speed of production and quality oversight don't have much impact on their managers". Then, the current Boeing leadership wrongly thought that taking shortcuts on quality and safety would not decrease growth, profit, and their stock price beyond the short-term, but instead increase these, which is what they care more about (hopefully that leadership will change soon and drastically). There is no connection between "everyday middle class Americans'" retirement accounts, their concerns about safety, and how Boeing operates.
> There are some big problems here, first and foremost the idea that because Airbus is owned by governments that makes it some how better.
You've missed the larger points about how "who owns Airbus" affects whom and what Airbus pays heed to, and affects how Airbus operates (including mechanisms that are affected by input and concerns of their workers on things like safety and quality); and how that contrasts with Boeing; and the connection to Boeing's current woes.
> Nothing in this standard Reich diatribe against capitalism, in favor of socialist utopia of Workers Unions would solve all problems accurately
This isn't a "diatribe against capitalism, in favor of socialist utopia of Workers Unions". Reich is not a socialist; his position is, "We don’t need socialism. We need a capitalism that works for the vast majority." [https://robertreich.org/post/22542609387]. He is for regulating capitalism, not instituting socialism.
> Nothing ... identifies the actual problems at Boeing I was talking about in my parent comment. > ... > Boeing being owned by Vanguard is a problem, but not because Vangaurd seeks to maximize profits, infact in recent years so called "Stakeholder Capitalism" which I believe Reich is also a proponent of has taken over Vangaurd and even more so Black Rock which puts a whole host of things over profits, and IMO this "Stakeholder Capitalism" is the root cause of the problem. It is a cancer in Business.
> parent comment: ... So if something has changed recently maybe one should look at other corporate priorities that have in reality supplanted profit as the number one goal for many corporations.
Boeing's problems didn't start when they added "climate" and "DEI" to their priorities. "...Europe’s DEI policies tend to be more strict than American ones. If DEI was at the root of design and manufacturing problems, Airbus would have a similar issue" --
"Stakeholder capitalism" has nothing to do with Boeing's leadership ignoring their workers' safety and quality concerns.
"Elon Musk Says Boeing Has a Diversity Problem. The Evidence Says Otherwise" https://archive.is/O86SU
"A terrifying 10 minute flight adds to years of Boeing’s quality control problems" https://www.cnn.com/2024/01/08/business/boeing-safety-qualit...
"‘This Has Been Going on for Years.’ Inside Boeing’s Manufacturing Mess." https://archive.is/DfXiW
> … supplanted profit as the number one goal for many corporations.
Not sure many people would agree that profit, at the expense of safety, should be the number one goal of Boeing. I’d rather fly on an Airbus, where it isn’t.