Why Boeing is trying to sell off assets
Boeing Co. is considering asset sales to improve its weak financials by selling off non-core and unprofitable units, the Wall Street Journal reported on Sunday. The newspaper reported, citing people familiar with the deal, that the company reached an agreement last week to offload a small defense unit that makes surveillance equipment for the U.S. […]
Boeing burns billions, now begs for a $15 billion lifeline
Boeing is a company in crisis and plans to return to capital markets to raise up to $15 billion in cash to address liquidity issues. Unfortunately, Boeing has wasted more than $43 billion on stock buybacks over the past decade, cash it could desperately use now. I'm not here to debate the pros and cons […]
Boeing, union reach tentative agreement to halt strike
Boeing and the roughly 33,000 machinists who went on strike last month have reached a tentative agreement, the union announced Saturday. The International Association of Machinists (IAM) said: “We are finalizing the strike settlement agreement and expect to close it soon, along with additional contract details to provide a clear understanding of the proposal. I […]
Boeing supplier Spirit Aero to furlough employees amid strike
Spirit Aero Systems announced Boeing plans to furlough 700 employees for 21 days on Friday as the company's employee strike continues. Hourly direct, support and administrative employees at the company in Wichita, Kansas, will face a suspension of paid employment on October 28th. “Given the pressures from our customers, we are implementing additional cost containment […]
FAA opening Boeing safety review
The Federal Aviation Administration (FAA) announced Friday that it will begin a review of Boeing's safety processes to ensure they meet government requirements. “This review will focus on key areas of Boeing's safety processes, including response times, quality of risk assessments, resource allocation, and compliance with regulatory requirements and FAA policy,” the FAA said in […]
Spirit Aero to furlough 700 workers for 21 days due to Boeing strike
Peter McNally, head of global analyst at Third Bridge, spoke on “The Big Money Show” about how the Boeing factory workers' strike is impacting business. Spirit AeroSystems on Friday announced it will furlough 700 employees for 21 days, as U.S. aircraft maker Boeing Co.'s more than month-long strike strains the company's cash and inventory space, […]
Boeing competitor Airbus to cut up to 2,500 jobs in space, defense sector
Boeing rival Airbus on Wednesday announced The company plans to take steps to cut 2,500 jobs in its defense and space division by mid-2026. Airbus said in a press release that the job cuts are part of a plan to streamline the division's organizational structure, with a particular focus on headquarters functions and greater accountability […]
Striking Boeing workers boo after Democratic Sen. Maria Cantwell criticizes Trump
The top Senate Democrat was booed Tuesday for striking Boeing workers in Seattle after disparaging former President Trump and blaming the housing shortage. “Housing is expensive everywhere in the United States because everyone is leaving their homes,” Senate Commerce, Science, and Transportation Chairwoman Maria Cantwell (D-Wash.) told LCI striking members. . We haven't built enough […]
Washington lawmakers press Boeing, union to resolve monthlong strike
Four Democratic lawmakers from Washington state this week called on Boeing Co. and the union representing striking machinists in the Seattle and Portland, Oregon, areas to resolve the labor dispute. Some 33,000 machinists walked off the job just after midnight on September 13, marking the first strike by the International Association of Machinists and Aerospace […]
Boeing to send layoff notices to thousands of workers: report
Boeing plans to send layoff notices to thousands of employees in the coming weeks, and senior U.S. officials have reportedly flown to Seattle to facilitate negotiations between the plane maker and unions. Boeing plans to send 60 days' notice next month to thousands of employees, including those in its civil aviation sector. A source familiar […]