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   Dare Obasanjo (carnage4life@mas.to)'s status on Sunday, 14-Apr-2024 02:04:44 JST Dare Obasanjo

   Seattle Times has a new report on how Boeing's current challenges can be traced to prioritizing shareholders over everything for 25 years, slashing costs and outsourcing key work, weakening unions, and pressuring suppliers, leading to loss of its core competency.

   This is a great example of how the stock market rewards short term thinking leading to companies sabotaging themselves. Intel is in the same boat.
   https://www.seattletimes.com/business/boeing-aerospace/boeings-long-fall-and-how-it-might-recover/

   • Paul Cantrell and HistoPol (#HP) 🥥 🌴 repeated this.
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     Michael T. Bacon, Ph.D. (michaeltbacon@social.coop)'s status on Sunday, 14-Apr-2024 02:04:52 JST Michael T. Bacon, Ph.D.

     in reply to

     @carnage4life

     It's insane -- these companies basically have license to print money for decades on end just by doing the same basic job over and over again. But the stock market gets antsy and wants higher returns. And it all comes crashing down. (Literally, in Boeing's case.)

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     A Robbart (ar1955@mastodon.world)'s status on Monday, 08-Jul-2024 16:29:43 JST A Robbart

     in reply to

     @carnage4life There's a good documentary by Rory Kennedy on this (on Netflix). It ties the problems to the merger of McDonnell Douglas & Boeing -- Boeing had had a culture of safety and trusting engineers. It changed to more of the McD D culture of prioritizing cutting costs and raising stock price.