The End of Capitalism? May Day 2020: Boeing - Marx Wins
Posted by freedomforall 3 years, 11 months ago to Government
Boeing illustrates everything that was once great but is now rotten about our Western economy:
It was once a good solid plane maker. It built the aircraft that allowed global airlines to develop, grow and innovate new routes and services. Regional travel, tourism and business travel all exploded in the wake of the Boeing aircraft that enabled it. The B-737 regional jet and the B-747 Jumbo really did make the world smaller and brought it to everyone’s door.
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Today Boeing has no aircraft on its books any airline really wants. Its new B-777x is years late and utterly pointless in this new environment. There have been very few new Dreamliner orders – the whole programme may have lost money. Across the globe airlines are retrenching. It could be years before air travel recovers.
Boeing is textbook corporate failure.
Yet because of the perception Governments will now intervene freely in “free markets”, it’s been able to snub a “strings-attached” government rescue, take market money, and is still backstopped.
It was once a good solid plane maker. It built the aircraft that allowed global airlines to develop, grow and innovate new routes and services. Regional travel, tourism and business travel all exploded in the wake of the Boeing aircraft that enabled it. The B-737 regional jet and the B-747 Jumbo really did make the world smaller and brought it to everyone’s door.
...
Today Boeing has no aircraft on its books any airline really wants. Its new B-777x is years late and utterly pointless in this new environment. There have been very few new Dreamliner orders – the whole programme may have lost money. Across the globe airlines are retrenching. It could be years before air travel recovers.
Boeing is textbook corporate failure.
Yet because of the perception Governments will now intervene freely in “free markets”, it’s been able to snub a “strings-attached” government rescue, take market money, and is still backstopped.
Don't forget, the legend, the 707.
Anyway, it was tough for Boeing, there is only one major competitor.
Airbus is technically competent, has avoided, so far, major scandals and disasters, and has what may be an open checkbook backed by Germany and France.