Boeing Asking for $60 Billion Bailout

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  #1  
Old 03-20-2020, 06:56 AM
collie1228 collie1228 is offline
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Default Boeing Asking for $60 Billion Bailout

Interesting to read that Boeing is asking for a $60 Billion bailout from the federal government. I also read in the Financial Times that between 2013 and the end of the first quarter of 2019, Boeing repurchased 200 million shares of its own stock, handing back $43 billion to its stockholders. The number of outstanding shares came down by 25 per cent. On top of that, the 737 Max debacle happened, causes solely by mismanagement at the highest levels, has cost them billions in profits as well. And now they want a bailout. If anyone should be refused a cash infusion from the government, it's Boeing.
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Old 03-20-2020, 07:42 AM
Chatbrat Chatbrat is offline
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I have to disagree Boeing is a strategic resource--the company is vital to our national defense--if they fold -we are very vulnerable
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Old 03-20-2020, 11:22 AM
vilger vilger is offline
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Originally Posted by Chatbrat View Post
I have to disagree Boeing is a strategic resource--the company is vital to our national defense--if they fold -we are very vulnerable
Boeing should be allowed to go bankrupt if they can't extricate themselves from the mess that they created for themselves. Bankruptcy does not mean that the company will cease to operate; it just means that the current stockholders will be wiped out, and the current creditors will become the new stockholders. The company can then start anew with no debt. GM went bankrupt during the Great Recession; the stockholders were wiped out but the company still exists. The taxpayers should not be on the hook for corporate mistakes; it's called Capitalism.
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Old 03-20-2020, 12:12 PM
skarra skarra is offline
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Boeing should be allowed to go bankrupt if they can't extricate themselves from the mess that they created for themselves. Bankruptcy does not mean that the company will cease to operate; it just means that the current stockholders will be wiped out, and the current creditors will become the new stockholders. The company can then start anew with no debt. GM went bankrupt during the Great Recession; the stockholders were wiped out but the company still exists. The taxpayers should not be on the hook for corporate mistakes; it's called Capitalism.
Are you saying that Corona Virus is Boeing's fault?

By the same logic, we should let all the small business owners along with restaurants, hotels, airlines just go out of business and let someone or something else come along to replace it. Survival of the fittest. Very Darwinian. (could apply the same principle to people too I suppose)
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Old 03-20-2020, 12:28 PM
petsetc petsetc is offline
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On a different note, $60 Billion given equally to all US citizens would give every man,woman,child about $183. I do not believe in trickle down, but I do believe the virtually everyone who got $183. would spend it creating a big economic boost.

And if Boeing went bankrupt, perhaps Warren Buffet would buy it and fix it. He is not as interested in making officers and stockholders immediately rich as most current managements are.
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Old 03-20-2020, 12:34 PM
ureout ureout is online now
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Originally Posted by Chatbrat View Post
I have to disagree Boeing is a strategic resource--the company is vital to our national defense--if they fold -we are very vulnerable
before a bail out make sure their top execs. give back their mulit million dollar bonuses they have received over the years... they knew they had a problem and ignored it... some of them sshould go to jail


below was their compensation for 2018...

NAME AND TITLE TOTAL COMPENSATION TITLE
In Transportation industry
J. Michael Luttig
Executive Vice President and General Counsel
$7,810,598


#4
View more
Dennis A. Muilenburg
Chairman, President and Chief Executive Officer
$23,392,187


#2
View more
Gregory D. Smith
Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy
$8,682,058

#2
View more
Leanne G. Caret
Executive Vice President, President and Chief Executive Officer, Boeing Defense, Space & Security
$10,727,525


#3
View more
Gregory L. Hyslop
Chief Technology Officer and Senior Vice President, Boeing Engineering, Test & Technology
$8,567,157
  #7  
Old 03-20-2020, 12:45 PM
Aces4 Aces4 is offline
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Originally Posted by petsetc View Post
On a different note, $60 Billion given equally to all US citizens would give every man,woman,child about $183. I do not believe in trickle down, but I do believe the virtually everyone who got $183. would spend it creating a big economic boost.

And if Boeing went bankrupt, perhaps Warren Buffet would buy it and fix it. He is not as interested in making officers and stockholders immediately rich as most current managements are.
Bingo!!!
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Old 03-20-2020, 01:30 PM
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Why have not have Washington out source to China our strategic defense like everything else
They've been selling us out for 50 years
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Old 03-21-2020, 04:58 AM
wine5465 wine5465 is offline
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Or these companies could do what local governments do and keep reserves for emergencies. I dont see them sharing their profits with us, the taxpayers. These CEOs make these huge bonuses but obviously did not earn them by putting fail safes in check. I think the CEOs should be fined heavily for mismanagement of these companies. This is why Sarbanes Oxley act came into being.
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Old 03-21-2020, 05:15 AM
Andyb Andyb is offline
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That’s why Nicki Haley resigned from the board.
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Old 03-21-2020, 05:28 AM
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dewilson58 dewilson58 is offline
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Quote:
Originally Posted by collie1228 View Post
Interesting to read that Boeing is asking for a $60 Billion bailout from the federal government.



Bailout vs. a loan.
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  #12  
Old 03-21-2020, 06:41 AM
JGVillages JGVillages is offline
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The Fed should get stock/equity in these highly leveraged companies instead of a bailout/ loan.
  #13  
Old 03-21-2020, 07:05 AM
Windguy Windguy is offline
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Quote:
Originally Posted by Chatbrat View Post
I have to disagree Boeing is a strategic resource--the company is vital to our national defense--if they fold -we are very vulnerable
If they are too big to fail then they should be broken up into smaller companies.
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Old 03-21-2020, 07:08 AM
biker1 biker1 is offline
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If they pay back the requested $60B loan why should the Feds get stock/equity?

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Originally Posted by JGVillages View Post
The Fed should get stock/equity in these highly leveraged companies instead of a bailout/ loan.
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Old 03-21-2020, 07:09 AM
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dewilson58 dewilson58 is offline
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Quote:
Originally Posted by JGVillages View Post
The Fed should get stock/equity in these highly leveraged companies instead of a bailout/ loan.



Socialism, no thanks.
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