travel industry plummet, but it continues to face significant market turbulence. Regulators from multiple countries and agencies are subjecting the company to unusually close scrutiny, for good reason.
Barnett had charged Boeing with gross neglect on a number of fronts, including the installation of emergency oxygen systems with high failure rates. Whether or not that ultimately proves true, his death puts an exclamation point on Boeing criticism in general. The anti-Boeing story is that the company simply doesn’t care if it puts out shoddy products.Boeing President and CEO Dave Calhoun is trying to counter that narrative.
Boeing stock closed on March 20 at $187.78 a share. That was down year-over-year but only by 8.27% and was nowhere close to the bottom that the stock found on March 20, 2020, at $95.01 a share. Leff granted that “Airbus is more attractive to many airlines right now” but was skeptical that Boeing’s chief competitor could step up.
McGee is deeply skeptical that Boeing’s current leadership has what it takes to right the company, going so far as to say that Boeing’s “CEO and the entire board should resign.” He believes the company “lost its way” with a merger with fellow aerospace company McDonnell Douglas in the 1990s by swapping an engineer-driven leadership for MBAs.
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