Boeing Asking for $60 Billion Bailout

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  #31  
Old 03-21-2020, 12:18 PM
golfjuly11 golfjuly11 is offline
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So true!!! Just ask any former or current military personnel who has protected our Great Nation here and abroad.
  #32  
Old 03-21-2020, 12:19 PM
ffresh ffresh is offline
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Quote:
Originally Posted by JGVillages View Post
Excellent idea. I am not sure our POLITICIANS have enough BUSINESS sense to think of this much less implement it.
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Originally Posted by dougjb View Post
If any bailout occurs for a publicly owned company, please keep in mind that is a very socialist type of affair. In capitalism, while there is the opportunity for great gain, there is always a risk of total failure.

But, if the administration wants to bailout any publicly owned company, I would recommend the following:

1) The government gets shares in the company equivalent to the government's investment.

2) The government gets seats on the board.

3) No executive of the publicly owned company will be paid an income (and shares and options) in excess of what a US Congressperson is paid...now about 180,000 per year.

4) There will be no benefits paid to any corporate officer in excess of that which accrue to Members of Congress.

5) If the bailout succeeds, the government will be able to cash out its bailout at then prevailing prices for the shares owned by the government.

If we are capitalist, then lets be capitalist. But, corporate bailiouts are simply a form of socialism.
To be clear … what you are proposing is fascism, first promulgated by Mussolini, whereby ownership remains in private hands but manufacturing decisions are controlled by the government. This was actually practiced by FDR and mistakenly referred to as socialism by many.

Fred
  #33  
Old 03-21-2020, 12:36 PM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by JGVillages View Post
Excellent idea. I am not sure our POLITICIANS have enough BUSINESS sense to think of this much less implement it.
Well, I am absolutely certain that they could not implement it.
  #34  
Old 03-21-2020, 01:00 PM
cholland cholland is offline
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I agree with the idea that the Government should buy stock up to the amount necessary to keep Boeing alive. It is a critical resource,even if recently poorly managed. The Government will allow Boeing to buy back the stock during better times at market prices
.
  #35  
Old 03-21-2020, 01:11 PM
biker1 biker1 is offline
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Bad idea since Boeing would have to issue new shares to realize any capital. This would reduce the value of existing shares. The Government can loan Boeing the money they need.


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Originally Posted by cholland View Post
I agree with the idea that the Government should buy stock up to the amount necessary to keep Boeing alive. It is a critical resource,even if recently poorly managed. The Government will allow Boeing to buy back the stock during better times at market prices
.
  #36  
Old 03-21-2020, 01:45 PM
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Originally Posted by karostay View Post
Why have not have Washington out source to China our strategic defense like everything else
They've been selling us out for 50 years
Let China buy it like government did with Chrysler sell to fiat. GM should of NOT got bailout, went to VIPs retirements fund and unions.
  #37  
Old 03-21-2020, 01:51 PM
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Boeing downfall is the 737 max, bad programming, bad training, bad decisions. Expect government hand out again after over charge government for all contracts they got. Let it go bankrupt.
  #38  
Old 03-21-2020, 01:54 PM
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Originally Posted by biker1 View Post
Please provide a list of what the Boeing executives have done that violated the Sarbanes-Oxley Act, with references to the exact provisions of the law.
First on list. 737 max.
  #39  
Old 03-21-2020, 03:48 PM
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OK, fine. Now explain exactly which provision of the law was violated. Have charges, related to the law in question, been brought against Boeing?

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First on list. 737 max.
  #40  
Old 03-21-2020, 03:50 PM
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So let me get this straight. Boeing has overcharged the Government for ALL contracts? Please provide evidence to support such a claim.

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Originally Posted by Topspinmo View Post
Boeing downfall is the 737 max, bad programming, bad training, bad decisions. Expect government hand out again after over charge government for all contracts they got. Let it go bankrupt.
  #41  
Old 03-21-2020, 07:12 PM
rmd2 rmd2 is offline
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Originally Posted by Topspinmo View Post
Boeing downfall is the 737 max, bad programming, bad training, bad decisions. Expect government hand out again after over charge government for all contracts they got. Let it go bankrupt.
That is exactly what happened. The engineers warned Boeing about the bad design of moving the engines further up on the wings. This made the planes non-aerodynamic. Then they had 2 computer systems fighting against each other to remedy the problem and finally to save money Boeing did NOT tell the pilots about this or give them the required training. Boeing SHOULD go under!
  #42  
Old 03-21-2020, 08:32 PM
dwhite5773 dwhite5773 is offline
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Originally Posted by vilger View Post
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.
Oh, I’m sure who would come back and take over all of the lost business: C-H-I-N-A! There we go, let Boeing, GM, Ford, restaurants (that’s what we need more of China Buffet) all go under! Make you wonder? 🤔
  #43  
Old 03-21-2020, 08:40 PM
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Originally Posted by rmd2 View Post
That is exactly what happened. The engineers warned Boeing about the bad design of moving the engines further up on the wings. This made the planes non-aerodynamic. Then they had 2 computer systems fighting against each other to remedy the problem and finally to save money Boeing did NOT tell the pilots about this or give them the required training. Boeing SHOULD go under!
That's 153,000 good paying jobs you're willing to throw away..
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  #44  
Old 03-22-2020, 07:23 AM
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We should bring ALL jobs back to our country. Jobs and security. We should never depend on others for our necessities that really don't like us.
  #45  
Old 03-22-2020, 07:35 AM
collie1228 collie1228 is offline
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I totally agree that Boeing is a critical industry, but in our system, stockholders take risks to earn rewards (dividends, higher stock prices, etc.) This is a classic case of stockholders betting on a management team that turned out to be good at the financials, creating a lot of wealth for stockholders over a long period, but ended up showing that they have no idea how to run a technological giant like Boeing. This company is famous for its engineering proficiency over decades, then for some reason, someone decided that the engineering-focused top managers should be replaced by finance and marketing-focused people, and the result is a complete disaster. If Boeing is to get a bailout, it should be conditioned on a complete restructuring of the company, replacing its current CEO office and board of directors, and forcing current stockholders to pay a significant price for betting on an incompetent management team. Maybe in the future they may prioritize good engineering and safety, with less pressure on the financials.
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