Boeing should be put in receivership, all top management fired with bonuses and stock grants clawed back.
The rot needs to be cut out.
Boeing is too important to be run by MBAs and private equity wannabes
The rot needs to be cut out.
Boeing is too important to be run by MBAs and private equity wannabes
US nationalized passenger rail into Amtrak in ‘71.
New York took over the private subway companies in the 40s.
Since the 1980s the US uses a different mechanism (as they did with Boeing) where the state leaves the companies listed on the stock exchange but influences policy by guaranteed purchase orders, forced mergers (else you lose those purchase orders) etc — privatization in all but name.
More likely, this is blatant lack of competition and accountability, aided by a huge dose of collective incompetence. Very said to see this from such an important company/institution. This might be the personification of repercussions of too big to fail.
Having people who were purely finance/marketing/business people be in charge of an engineering company is asking for trouble.
So an engineer/STEM works in the industry, then later gets an MBA, that's a different story.
If Boeing just wants to be a marketing/finance company they should fire all their engineers and contract it out to someone who actually cares.
I don't think this should be all that controversial. People with a medical background should run hospitals/clincs, people from creative backgrounds should run media companies, people with finance backgrounds should run finance companies etc.
Of course, you need to know some finance/marketing/management to get that high up the corporate ladder. The problem is the thinking that those types know how to run every business, just because of their 'Wharton/Harvard/etc. MBA
Every 4 years there is new management trying to get costs down and the same thing happens every time.
They once forced them to help outsource production to China and get a commission or no commission at all.
After a year of production, they crawled back since the Chinese used cheaper components and did insufficient testing. It just needed a couple of production issues and lots of warranty claims.