Economy Boeing shares halted after news of mid-summer 737 max return. Bankruptcy could be next.

Boeing halts shares trading after stock plunges by almost 6 percent



Boeing stock trading was temporarily halted Tuesday after shares fell by almost 6 percent on reports that regulators plan to keep the company's fleet of troubled 737 Max airplanes grounded until July, far longer than originally planned. The planes have been grounded since March last year, after two crashes killed a total of 346 people.

The Federal Aviation Administration released a statement shortly afterwards, confirming the news, and trading reopened.

https://www.google.com/amp/s/www.nbcnews.com/news/amp/ncna1119586

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I am speechless. I expect massive layoffs soon.

If the Max ever returns, Boeing will be so far away from ever returning to 42 aircraft a month, nevermind the 52 they once were.

This could mean multi year delays to receive delivery, which means that Airbus could potentially open another A320 line, and start stealing away billions of dollars in orders.

This fuck up has just went from Catastrophic to potential bankruptcy.

I never thought the regulatory bodies would be allowed to do their job to the point where it actually is threatening the existence of the Boeing company.

This is quickly becoming the 2008 financial crisis all over again, where the executives and board members need to be criminally charged over a fuck up this big.

Discuss......

 

Good. They should be dissolved.

I mean the executives, in a barrel of acid.

 

Let me expand on this.

Boeing can't afford to keep the supply chain and work force on payroll forever


At some point they have to eat their plate of shit they made.

This means that if or when the Max is actually ungrounded, it will take years to rebuild the supply chain and workforce.

 

Who can buy Boeing? The company itself not stocks.

 

The government in a bailout, and like the big 3, the boards that run these companies who are ultimately responsible would be left in tact.

This is what gets me.

You want to know how the big 3 automakers finally busted the auto unions?

They ran those companies into the ground, to the point that it just took a crisis to declare bankruptcy.

That bankruptcy resulted in a tiered union contract structure in forced arbitration, that crippled the auto unions.

I'm sitting here wondering if this is how Boeing bust's it's unions now.

 

Besides government. That was an extraordinary circumstance.

 

This is the same thing. Boeing is too big to fail.

 

Trading halted?

Now is the time for libertarians to be screaming

 

Brah, bootstraps are for you and me, not corporate America.

We all know who the welfare rats are in this country.

 

Seriously. I find that absolutely outrageous and I don’t even own Boeing stock.

If a company can halt trading of their stock, how can anyone else actually own it?

Sorry for the derail this shit just really grinds my gears

 

Are you prepared to picket?

 

Those who have run America for the last 50 years, and major American companies like banks and corporations are incompetent


If America can’t even produce civilian airliners, nor even send people into space without russian help, we are going down the drain.

better import 40 million more people who can’t do basic arithmetic, and quadrupole our SJW college majors. That’s how we bounce back.

 

I need to run for union president if that happens, and bring in the Longshoreman to teach these young bucks how old school union tactics work.

 

Look at the media coverage on this. You have to search the phrase 737 max grounded until summer to find out that share trading was suspended today.

Maybe that will change tomorrow, but right now the media seems to be in bed with protecting Boeing from a massive stock run, along with the stock market itself by allowing the suspension of trading.

Imagine if this was a company that didn't own both political parties. Either Fox news or CNN would be fear mongering about a collapse helping to create the run on the company.

 

Here is the problem. There are smart people who honestly think cost cutting race to the bottom is absolutely necassary even when we see these disastarous outcomes.

All of corporate America is a one trick pony. Every problem is a nail that needs a hammer.

How do we even fix this, when no one but bean counters exist with any kind of experience?

 

overhaul of the entire ruling class. Find educated people from small town America.

guys that made up 1960s NASA and could do advanced mathematics without a calculator.



Guys like that from small town America aren’t even allowed into the top tier universities anymore bc they aren’t wanted.

 

They hire engineers now, but the whole system is setup to turn you from an engineer into a bean counter.

Prime example is Boeing. They have management performance reviews, that used to be pretty balanced. They changed it a few years ago to very heavily weight cost cutting. If you want to keep your job in management at Boeing, you better figure out cost cutting, and know that your knowledge and efforts in process control, or best practices provides zero financial or career incentives.

 

I'm holding my stock. At some point Boeing is going to deliver all those stored airplanes you would think, and that will result in a record setting year the likes of which has never been seen.

The culture shift thing is crazy, because this isn't a recent change. This has been going on for 20 years. They just jumped the shark on it.

I swear the cause is that all Boeing cares about is busting the unions. Boeing used to be known as the lazy B, because we were massively overstaffed, which is a necassary evil in airplane manufacturing if you want to keep process control in a manufacturing process that never seems to go according to plan. They were so concerned with whether union members were wearing safety glasses, and whether union workers were working all 8 hours of the day, that no one cared if the management had developed a culture of fraud.

Now, it isnt anything close to the lazy B. If you don't work, it gets noticed because the workforce is so LEAN'd out. Any bump causes a production delay, because everything was designed as if we live in a perfect world where everything works exactly how it is supposed to. This creates a culture of corner cutting.

It's a disaster I don't know how they turn back. It will take years of attempting to shift the culture back, and I don't know how you do that in a structure that so values quarterly profits.

 

Well I most definitely hope this shit clears up asap. The company I work for is a major supplier to boeing and if they go under I'm probably out of a job.