A Year After The Second MAX Crashed Boeing Is Faced With Ruin

Submitted by LocutusOP on Mon, 03/16/2020 - 22:02
Author: 

karlof1 ,  Trailer Trash, Beibdnn, arby, Joetv , Pft  

Date: 
Monday, March 16, 2020 - 22:00
Article link: 
A Year After The Second MAX Crashed Boeing Is Faced With Ruin
 

 

Boeing could also be nationalized or become a worker-owned co-op, although that's unlikely to occur. As I wrote on another thread, management desperately want that credit infusion as they need to pay themselves one last dividend before the company finally crashes into bankruptcy and they bailout.

Posted by: karlof1 | Mar 12 2020 18:24 utc | 1

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Wolf Richter writes that Boeing is turning credit lines into cash right now because they are "worried that banks might freeze the credit facility later, and banks did during the Financial Crisis." I think that is likely correct, but only part of the story. The real story, of course, is that they are going belly up.

"Wolf Street" is mostly populated by hard-core capitalists but the analysis pretty much reflects reality (my version of it) instead of the usual rah-rah propaganda. It's a good ring-side seat for watching the current implosion.

Posted by: Trailer Trash | Mar 12 2020 18:37 utc | 3

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An hour ago the Fed was going to save the banksters with a trillon dollar bailout. It is now up to a trillion and a half. For decades the goldbugs have warned us about hyperinflation. Maybe they are going to be correct after all...

 

Posted by: Trailer Trash | Mar 12 2020 19:07 utc | 5

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A thought. Should Boeing not survive or at least, continue in a drastically reduced form, does this mean that U.S. airlines will be buying Russian aircraft as the U.S. military is buying Russian rocket motors?
And as 40% of Boeings titanium parts are made by Russian companies, will Boeing’s situation have a large effect on them?

 

Posted by: Beibdnn | Mar 12 2020 19:07 utc | 6

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Seems to me that what they will do if it comes to that is Nationalize it. The moment it looks like it will turn a profit they will privatize it at about 2 cents on the dollar.
Isn't that what they usually do?

 

Posted by: arby | Mar 12 2020 19:25 utc | 8

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Yes, Boeing should be nationaled, along with the Fed, and the Networks. Ncov19 stinks of Rockefeller/Gates eugenics. "Damn the torpedoes and full speed ahead". The world is reaponding in "lock step" to a situation created for the purpose of prompting a call for 1 world government. The virus won't get us there, but it's a huge step forward towards that end.
Without the media and politicians scaring the hell out of everyone, it would be business as usual.

 

Posted by: Joetv | Mar 12 2020 19:38 utc | 10

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Boeing would never be allowed to fail, just like the big banks and AIG.
Frankly if they were still producing the Max they would be faced with lots of cancellations anyways since nobody needs new aircraft now.

Its the smaller airlines that are most likely to go under, which is great for the big airlines as they lose competition and increase market share

 

Posted by: Pft | Mar 12 2020 19:46 utc | 12

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Grieved @22--

There're a great many ways markets get manipulated all done by insiders to serve insiders. Just as an introduction to that mess, I suggest watching the second half of this Keiser Report, an interview of Max by Stacy. IMO, Boeing's stock price was kept artificially inflated via options, which you may grasp better after listening closely to Max.

Keiser Report's newest episode aired today, and everyone ought to view it, both parts. Not all will agree, but there's something for most everyone to use, although it would fit better on the COVID-19 thread.

 

Posted by: karlof1 | Mar 12 2020 22:24 utc | 25

 

Own comment: 

Well, Boeing will get no tears from me if it goes belly up, which I hope it does. It represents the worst of americanism - war profiteering and  U.S. intimidation of competitors. 

It would be fitting if it went under during Trump's regime since he has done more than most to prop it up and threated its competitors.