Mentour Pilot takes a look at Boeing’s troubles.
WHY is Boeing Facing CRIMINAL Charges?!
25 minutes
The Captain
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Denny,
Sorry all for hijacking this thread. I’m still not up to speed after the changes in these boards.
At any rate, I thought you might be interested in this article, Denny. Hope it isn’t behind a paywall for you and others.
AJ
There’s little hope that Boeing will right the ship.
The new CEO in waiting, Stephanie Pope, is another Finance person. And not only is she “Finance”, she’s “McDonnell-Douglas Finance”, the root cause of the failure.
intercst
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Here is an interesting tidbit from her bio on the Boeing page:
Pope also served as vice president of Finance and controller for Boeing Defense, Space & Security, with responsibility for the regulatory compliance of the business unit as well as ensuring the accuracy, transparency and timeliness of its financial disclosures.
Person in charge of compliance at the Defense division. Wonder what she was doing when Boeing bribed the DoD official that negotiated the tanker deal that was so wildly beneficial to Boeing, and wildly bad for the Air Force?
However, in December 2003, the Pentagon announced the project was to be frozen while an investigation of allegations of corruption by one of its former procurement staffers, Darleen Druyun (who had moved to Boeing in January 2003) was begun. Druyun pleaded guilty of criminal wrongdoing and was sentenced to nine months in prison for “negotiating a job with Boeing at the same time she was involved in contracts with the company”. Additional fallout included the termination of CFO Michael M. Sears who received a four-month prison sentence, the resignation of Boeing CEO Philip M. Condit and Boeing paying $615 million in fines. In January 2006, the lease contract was formally canceled
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From the comment section below:
The ‘door man’ is on leave from ‘medical reasons’? Gosh! That’s a lucky coincidence!
Sent home with a firearm and get-well wishes; Boeings thoughts and prayers are with him.
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Quite the contrary, I think this is an exceptional find. We need to face the reality that some old knowledge is wrong. The Science of Complexity puts a new face on a lot of things, economics included.
Thanks!
Apple News is behind a paywall
but by Googling
complexity theorist J. Doyne Farmer tells Thomas Lewton
I found
which I believe must be the same article. You do need to register to read the whole piece. I’ll read it later in the day.
The Captain
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The Atlantic offers another take on that: Calhoun is a graduate of the once vaunted Jack Welch school of financial engineering:
‘Firmly a member of the CEO class, schooled at the knee of General Electric’s Jack Welch’
’ At GE, which produced three of Boeing’s last four CEOs, manufacturing came to be seen as “grunt work,” as the former GE executive David Cote recently told Fortune’s Shawn Tully.
Motorola—founded as Galvin Manufacturing and famed for its religious focus on quality—lost its lead in mobile-phone making after it leaned into software and services.
Intel’s bunny-suited fab workers were the face of high-tech manufacturing prowess until the company ceded hardware leadership to Asian rivals. “Having once pioneered the development of this extraordinary technology,” the current Intel CEO, Pat Gelsinger, wrote recently, “we now find ourselves at the mercy of the most fragile global supply chain in the world.”
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The “Jack Welch-way” was first introduced to Boeing by Harry Stonecipher, shortly after the Boeing/McDonnell-Douglas merger in 1997. Stonecipher was an early graduate of GE’s management training school in Crotonville, NY under Jack Welch.
intercst
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OT(?): a normal day in US aviation?
… The Swiss pilot saw what was happening and just called out, “Aborting takeoff. Traffic on runway.” Very professional. There was not even an apology from air traffic control. Finally, it appears that while the Swiss aircraft was still there, not yet having cleared 4L, the controller cleared another aircraft – Delta 668 from Austin – to land there?
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