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Not significantly no, it was much more focused on the McDonnell-Douglas reverse acquisition. To summarize: McDonnell-Douglas was failing and bought Boeing with
by tonyarkles 1y ago
Not significantly no, it was much more focused on the McDonnell-Douglas reverse acquisition. To summarize: McDonnell-Douglas was failing and bought Boeing with Boeing’s own stock (technically Boeing bought McDonnell-Douglas with Boeing stock but in practice McDonnell management assumed control). MD’s executives were Jack Welch protégés and did the same thing to Boeing that happened to GE.
- p_l 1y agoThe part that story always stays silent is that Boeing then-CEO was big fan of Welch-ism apparently and oversaw major changes that caused long-term issues ... while new people (albeit not execs) from McDonnell-Douglas were publishing internal memos about how MD has experience on why the actions taken by Boeing (not MD!) CEO will cause problems.
- AnimalMuppet 1y agoSo, if MD was failing, who thought it would be a good idea to let the MD execs take over Boeing? Was the board asleep?
- kelseydh 1y agoCorporate boards in practice have a long history of being controlled more by management, than the other way around.
- Barbing 1y agoThat’s too bad. Very interesting—thank you!