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David Calhoun is the replacement - head of Blackstone private equity. An accountant running an engineering company, what could possibly go wrong. You can assum

by clon 7y ago

David Calhoun is the replacement - head of Blackstone private equity. An accountant running an engineering company, what could possibly go wrong. You can assume that stock price will take the front seat now, if it already had not. The bean counters have yet to internalise the fact that it is am engineering culture failure, stemming from the toxic MacDac merger. This is a further signal that things are going downhill for Boeing. To be fair, Dennis Muilenburg was at least an engineer, lead the X-32 program (the funny looking bug plane that was runner-up for the JSF). An engineer, possibly at am advanced Peter principle level, but an engineer.

dv_dt 7y ago
Dennis M was an engineer, but the McNeirney the previous CEO was the first non-engineer and very much a MBA type. I figure Dennis is stepping down for not being able to fix problems that came up under the previous CEO fast enough or completely enough.
- clon 7y ago
  He did come across as a basically decent person. He was not ousted for being unable to undo the MBA damage. He was let go for being unable to jedi mind fuck the plane back into the air. This, as far as his employers are concerned, is the measure of his failing.
  - dv_dt 7y ago
    Putting another accountant in charge is likely going to make for more risks taken at Boeing that don't directly show up in an accountable form on financial spreadsheets. Sounds mundane, but a mathmatician/economist/businessman/politician who can drive quantitative risk accounting forms into operating and SEC reported balance and cashflow reports might save our economy and society. Hasn't happend so far though.
papito 7y ago
Yes, I expect a lot of "financial engineering". "Boeing’s 737 Max Was an Epic Error. So Why’s the Company’s Stock Still Going Up?" http://nymag.com/intelligencer/2019/12/after-boeings-737-max-mistake-why-is-the-stock-going-up.html http://nymag.com/intelligencer/2019/12/after-boeings-737-max...

by clon 7y ago

dv_dt 7y ago

Dennis M was an engineer, but the McNeirney the previous CEO was the first non-engineer and very much a MBA type. I figure Dennis is stepping down for not being able to fix problems that came up under the previous CEO fast enough or completely enough.

clon 7y ago
He did come across as a basically decent person. He was not ousted for being unable to undo the MBA damage. He was let go for being unable to jedi mind fuck the plane back into the air. This, as far as his employers are concerned, is the measure of his failing.
- dv_dt 7y ago
  Putting another accountant in charge is likely going to make for more risks taken at Boeing that don't directly show up in an accountable form on financial spreadsheets. Sounds mundane, but a mathmatician/economist/businessman/politician who can drive quantitative risk accounting forms into operating and SEC reported balance and cashflow reports might save our economy and society. Hasn't happend so far though.

papito 7y ago

Yes, I expect a lot of "financial engineering". "Boeing’s 737 Max Was an Epic Error. So Why’s the Company’s Stock Still Going Up?" http://nymag.com/intelligencer/2019/12/after-boeings-737-max-mistake-why-is-the-stock-going-up.html http://nymag.com/intelligencer/2019/12/after-boeings-737-max...