Revelation wrote:Noshow wrote:Boeing needs their investors to agree on investing first.
If they only would move ahead now they could beat their competitors. They almost waited for too long. Now they face low deliveries/income and must invest big at the same time. Bring the NMA, bring the NSA but plan with realistic schedules and costs.
To use Harry's terminology, to be successful in commercial aviation you have to find investors who want to own a great engineering firm rather than a great business. I'm not sure this is possible in the current USA. It's strange to see some of the most successful recent companies in the US really were about inventing great things i.e. Amazon, SpaceX, and Tesla. Musk and Bezos had their visions, and they kept enough power to make sure they could keep investing in that vision till it paid off. Yet once the products mature, then the profit taking ensues. Sooner or later industrial investors acquire controlling interests, and it then becomes just like Boeing, money gets invested in keeping the stock price high rather than inventing great things. Industrial investors do not want to own a great engineering firm, they want to own a money making machine.
People keep thinking it is only about $$$ and C_Os to make a difference. At the same time they downplay Chinese money - talk about consistent point of view.
Here is the most frightening quote from Gates' article:
One FAA safety engineer, who cannot be identified because he spoke without FAA approval, said that in one certification specialty more than 20 such Boeing engineers left in a single month.
“I go to meetings now and don’t know the names,” he wrote in a text. “Brain drain!”
Baby boomers generation was in a sense unprecedented. They came into after two world wars cleaned up the scene, and stayed longer than any other generation. And they didn't do a good job in training replacement as there was little opportunity for professional growth for younger generations. Yes, they may come back as consultants... But they will be irreversibly expiring soon.
I said it before, I am saying it again - Boeing problems are not in C-suit, they are on engineering floors.