Tag: Boeing

Boeing Union Strike to Pummel Workers and Shareholders, New Analysis Finds

Daily Caller News Foundation
Boeing Workers

The International Association of Machinists (IAM) union strike against Boeing is expected to result in a $1.05 billion loss for the company and its shareholders, as well as a significant loss for its workers and suppliers, according to an analysis by consulting firm Anderson Economic Group (AEG) released Thursday.

Boeing and company shareholders are set to lose an estimated $1.05 billion, with workers and suppliers losing $351 million from Sept. 13 to Friday due to the IAM union strike, according to AEG’s analysis of the company’s lost wages and shareholder earnings. The firm’s report does not estimate separate damages to consumers or customers for the first two weeks of the strike.

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Troubled Boeing Spacecraft Returns to Earth Without Pilots on Board

Daily Caller News Foundation
Starliner

A Boeing spacecraft successfully returned to Earth on Saturday, without the pilots on board.

The Boeing Starliner has been plagued with technical problems since it was launched into space with astronauts Sunita Williams and Barry Wilmore more than three months ago, essentially stranding the pilots in space. NASA and Boeing have been deliberating options as to how to get Williams and Wilmore home and decided to keep them in space for the time being rather than fly them home on the troubled return vessel, which successfully touched down in New Mexico on Saturday.

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Airlines Launch Effort Backing Green Jet Fuel Tax Credit that Could Raise Food Prices for Americans

Minnesota Sun Staff
Plane at gate

A coalition of major airlines has formed a group supporting a tax credit pushed by President Joe Biden that experts say could jack up food prices.

More than 40 companies, including Boeing, American Airlines, JetBlue and United as well as ethanol trade groups, are pushing the federal government to “expand” existing tax credits for “sustainable aviation fuel” (SAF) and to pass legislation to increase the fuel’s availability, Axios reported. Corn-based ethanol is a common component in SAF and experts previously told the Daily Caller News Foundation that increasing the demand for corn by incentivizing its use in jet fuel could indirectly raise food costs for Americans.

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Boeing Posts Massive Loss Following Slew of Safety Issues

Minnesota Sun Staff
Boeing Factory

Top jet manufacturer Boeing reported on Wednesday a net loss of $355 million in the first quarter after months of scrutiny over recent safety issues.

Operating revenue declined 8 percent year over year in the first quarter, from approximately $17.9 billion to $16.6 billion, with the company burning more than $3.9 billion in free cash flow in the time frame compared to $786 million a year ago, according to Boeing’s first quarter earnings report. Recent scrutiny of safety with Boeing products began in January after an Alaska Airlines flight had a door plug fly off mid-air, resulting in an emergency landing and an investigation into the company’s quality assurance.

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Commentary: America’s Priorities Need to Change in Order to Protect Its Citizens

Minnesota Sun Staff
Illegal Immigrants

The horrific murder of Laken Riley by a repeated felony offender and illegal alien Jose Ibarra, 26, a Venezuelan citizen, was preventable—had federal immigration laws simply been enforced by the Biden administration.

When called out in his recent State of the Union address, President Biden referenced the deceased Ms. Riley. But Biden misidentified her as “Lincoln Riley”—the USC football coach!

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United Airlines CEO Says They Are Making Plans Without Boeing After Manufacturing Issues

Minnesota Sun Staff
United Boeing

United Airlines CEO Scott Kirby said Tuesday that the company is making a plan to move forward without Boeing after the manufacturing company grounded its MAX 9 planes, according to CNBC.

Boeing has suffered a series of problems in the last several weeks after multiple planes had major mechanical and structural errors, forcing the company to ground all Max 9 aircraft with door plugs. Kirby told CNBC that the decision to ground the aircraft was the “straw that broke the camel’s back” for United.

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Commentary: The U.S. Defense Industrial Base

RealClearWire

The Russian invasion of Ukraine, along with increased tensions in the Middle East and the Indo-Pacific region, has generated many debates. Debates about the stability of the international order, the cohesion of NATO, and many others. But for the United States, one significant debate regards the size and expansibility of the American defense industrial base. It’s a discussion that is well past due.

Last year, Under Secretary of Defense Colin Kahl testified to Congress that, “What the Ukraine conflict showed is that, frankly, our defense industrial base was not at the level that we needed it to be to generate munitions.” But the challenge with ammunition is more symptom than cause, in economic terms something of a “leading indicator.”

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Problems Continue for Boeing With 787s and 737 MAXes

The Center Square

The Federal Aviation Administration on Tuesday announced it would retain sole authority to issue airworthiness certificates and perform any final inspections on Boeing’s 787 Dreamliner aircraft.

Meanwhile, two members of Congress, including Rep. Rick Larsen, D-Everett, have asked for an investigation into why the FAA decided not to penalize Boeing for fatal crashes involving its 737 MAX.

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Boeing Suspends Vaccine Mandate for Employees

The Center Square

Boeing Friday said it has suspended its requirement that U.S.-based employees be fully vaccinated or face losing their jobs.

The announcement comes as several attempts by President Joe Biden to require vaccinations for workers in various settings have been blocked by courts in recent weeks.

“Boeing is committed to maintaining a safe working environment for our customers, and advancing the health and safety of our global workforce,” a company spokesperson told KOMO News. “As such, we continue to encourage our employees to get vaccinated and get a booster if they have not done so. Meanwhile, after careful review, Boeing has suspended its vaccine requirement in line with a federal court’s decision prohibiting the enforcement of the federal contractor executive order and a number of state laws.”

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Biden’s Air Force Opens Strategic Tanker Contract to Airbus Less Than a Year After $4B DOJ Sanction for Hiding China Ties

Neil W. McCabe

President Joseph R. Biden Jr.’s administration opened up a significant chunk of a new Air Force tanker contract to the Leiden, Netherlands, based Airbus less than a year after the company paid a nearly $4 billion fine for corruption and despite its history of technology transfers to China.

“Airbus engaged in a multi-year and massive scheme to corruptly enhance its business interests by paying bribes in China and other countries and concealing those bribes,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division in a statement released at the end of January.

“This coordinated resolution was possible thanks to the dedicated efforts of our foreign partners at the Serious Fraud Office in the United Kingdom and the PNF in France,” Benczkowski said.

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Boeing Cuts Thousands of Jobs, Prepares for Air Travel Slow Down Amidst Coronavirus Surge

Minnesota Sun Staff

American aerospace giant Boeing announced a fresh round of job cuts during its earnings call on Wednesday morning as coronavirus cases continued to surge worldwide.

Boeing said it would cut 7,000 jobs by the end of 2021, according to The Wall Street Journal. The job cut, the latest in a series of coronavirus-related cuts, would take the company to 130,000 employees after starting 2020 with 160,000.

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Boeing Says Pandemic Will Cut Demand for Planes for a Decade

The Associated Press

Boeing is lowering its expectations around demand for new planes over the next decade as the coronavirus pandemic continues to undercut air travel.

The company on Tuesday predicted that the world will need 18,350 new commercial airplanes in the next decade, a drop of 11% from its 2019 forecast. The value of that market will slide by about $200 billion from last year’s forecast, to $2.9 trillion.

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Boeing Cancels Controversial Satellite Order Funded by China

Admin

by Hanna Bogorowski   Boeing decided to cancel an order for a satellite that uses sensitive technology used by the U.S. military and was reportedly being funded by a state-owned Chinese financial firm. A Wall Street Journal investigation revealed Tuesday the troubling web of financial transactions that skirted around U.S.…

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