Boeing has agreed to plead guilty to criminal conspiracy to commit fraud. The company's descent reveals everything wrong with American capitalism today.
Maybe we shouldn't have raised generations of children on the belief that if you earn enough money you'll be happy. All it did was make generations of sociopathic kids willing to do anything to earn money to make themselves happy.
@@peanut0brain I can see why you said that and yes there's plenty places to Hind,But telling on some Large Corporations is a whole different espionage and just by some chance they are still alive avoiding the testimony they will soon will disappear on a trusting nature of those people who have lied to them.
@cellevangiel5973 just like here in canada they keep saying we are a free country but we are not. Not even close. Need a permit to do anything in this commonwealth shithole
Yep, Boeing used to be an engineering-centered 'local' company that was once the pride of the PNW... but that all changed when they merged with McDonnell-Douglas, a much more military-focused 'good old boy' corporate culture, and then they moved the Boeing hdqtrs from Seattle to Chicago, which removed any 'local' oversight (and local pride).
You are correct, but we do need to have both accountants and engineers. I'm an engineer and I could design most things, but the accountants (sometimes) are needed to keep me real. Mercedes was doing badly in the late 80s (very high quality, high price, too few customers) and went to the accountant-driven way. That's why now they are piss-poor quality, and have been since the mid 90s. (30 years now!). The trick is getting the correct balance. Obviously safety should be of the highest priority, and should never be a part of cost-reduction.
The moment consumers behave this way is the end for Boeing. If an operator of Boeing aircraft has empty seats measurably on account of the equipment used on routes they will have no business choice other than factoring that into their fleet planning.
I worked as a consultant to Boeing and was stunned and shocked at how they "ran" their business. I was removed from the account when I complained to my boss. Don't get me started.
@@rustomkanishka I will just share that being a consultant you have no power and that in Washington state it is a right to work state so you can be removed or fired from any job "at will". Say what you want about California but workers have some protections.
@@davidpowell3469 i understand. Being fired out of the blue must have been a shock to say the least. No one needs that kind of misery in their life. I thought you meant something about the work culture, or if you noticed anything that made these recent catastrophes inevitable. If you did, please do share, but if you wish to stay silent that is completely understandable.
Stock buybacks NEVER should have been decriminalized. The ONLY way trickle down theory would have worked is if they had remained criminal like they were prior to Reagan.
"Wallstreet types who looked down on the engineers" implies that there exists some kind of person that Wallstreet types *don't* look down on. I assure you, there are none.
@@craiganderson7986hahahahahahaha, oh the irony. They think of themselves as masters of the universe when they think money, a human-made concept, is everything. They are such small people.
When you are a company heavily reliant on engineering expertise, it is generally not a good idea to have its senior management comprised mainly of accountants and MBA's.
MD ruined Hughes Helicopters also. It’s now just finally coming back, in which they’re focusing more on the civilian market, instead of grovelling and begging for military contracts, especially when half their gunships are sitting in Afghanistan.
My father was a lifelong Boeing employee and rose to become a senior tech fellow before retiring. He said Boeing didn’t buy McDonald Douglas, but McDonald Douglas bought Boeing. Everything changed with the buyout. He said it just wasn’t the same company anymore.
@@dakotarobert7975thanks for bringing that up. They took on the MD philosophy and killed the company. But then, this is American business in this century. Think short term for profits while competing against companies and countries that think decades down the road. Great way to kill innovation.
I remember when the CEO of Boeing (Condit I believe) bragged in the company newsletter that he and Stonecipher sat down sketched the merger out on a NAPKIN in the course of an hour and shook hands on it... like that was a good thing!
I had a friend who was a famously gifted mechanical engineer at Boeing. His colleagues knew him as the guy who could see problems brewing long before they became safety issues. He would be heartbroken to see what has become of the firm he loved.
I was in management at Boeing during the transition. I left in 2012 when there were still a few of the old guard trying to hold the fort. We had gone from asking "How can we do the best job possible?" to "How can we maximize earned income?".
Exactly. You've, and the whole USA has, been sold the myth that the purpose of a company is to make profit. That's a lie, sold by the robbers. The purpose of the company is to offer a need in society and profits help maintain that task. But the lie makes it okay to keep robbing and enriching the elites. Stop the lie. Limit incomes and profits!
I'm a professional communicator who has worked with the C-Suite of top corporations, including Boeing. I can tell you that this all is not news to me, especially the executives' behaviors. I quit there because I went from being a public relations person to a cover-up artist for senior management, the 787 program and defense programs. And as someone from the inside of major corporations, I can tell you that nothing has changed in their selfish job-preservation behavior. If you want more details, Mr. Reich, please contact me.
It was probably on one of my first flights Vancouver to Frankfurt around 1979. I ask my seat neighbor why he is traveling from Seattle to Vancouver to fly to FRA. His response: "I am working for Boeing, but I do not fly with Boeing out of Seattle" He has seen already at this time safety issues with Boeing.
Oh, guess who is some of the shareholders? All of Congress! Anti-trust has been ignored over the past 15-25 years, and insider trader is legal for Congress, so connect the dots. Boeing has no competition to speak of, so they do what they want, where will we go for planes (and military equipment by the way)?
most shareholders will have made money and sold their stock long ago, some are left holding the bag by joining at the wrong time sure but others still can now short the stock instead.
Retired aerospace engineer here. I started working in 1977 as a stress engineer, then a design engineer, flight test engineer and manager. Don’t underestimate the deleterious effect that a merger can have on a company’s core values of engineering excellence. Soon the untalented bean-counters insist that you check the company’s stock price daily. As if that somehow leads to better product. When you start treating creative talented people as warm bodies, replaceable in a heartbeat, you’ve only succeeded in diminishing the value of craftsmanship. As Jacob Bronowski stated in “The Ascent of Man”: “The personal commitment of a man to his skill (craft), the intellectual commitment and the emotional commitment working together as one, has made the ascent on man”. What is currently lacking in the executive suite at Boeing, as well as at many other once fine companies, is the commitment to craft. Keep up your good works with these postings. I respect and enjoy your thoughts and commentary always.
Well said. I too, worked at Boeing before and after the merger as an industrial statistician. The 777 was a great plane built before the merger and its roll out nearly flawless. The 787 came after the merger and the bean counters saved a few bucks by off loading engineering only to ultimately spend 25 $billion more due to three year delays brought on by their greed and incompetence.
I'm an ex lowly Navy aviation ordnanceman. I'm concerned substandard product will get out to the fleet. FYI...I now work for BAE systems. We laugh at Boeing. And it's sad.
Just about EVERY US based company in the past 40 years has been doing this. Washington basically let it happen too. This is why living wages have disappeared in that time. Just so the wrong people can make way too much money.🤨
That's because McDonald Douglass had already lost it's way. As just Douglass, they brought us the DC3, 4, 6, 7, and 8, superb planes. Sad what they became.
Been there. My former employer was bought by its own money (we had a policy of no long term debt) so had money available. Icahn and friends broke the company apart; thew a lot of people out of work, and made a lot of money in the process.
I work in Aerospace a fastners company. We make parts for Boeing, Airbus, Lockhead and others.The management people they hire are a joke. Some employees are lazy as hell and the quality is crap. We constantly do rework to fix other departments parts, managers are useless.
And ban them and all management from owning shares in the company (or any derivative thereof, such as options). That way they can't benefit from changes in the share price. When the company goes IPO, you get a choice to make: Do you keep owning or running the company? If the former, you step down from any management position. If the latter, your shares get sold on launch day at market value.
fundamental issue is how they are paid. CEOs very rarely have large cash salaries but rather receive massive stock payments to intentionally bypass taxation as stocks are only taxed on sale. they've intentionally normalized this to skirt taxation as much as possible, and typically try to sell some (usually unrelated) stocks at a loss to pay as little capital gains taxes as possible when they need cash.
For the life of me, I’ll never understand how people argue against worker protections, decent wages, the importance of skilled workers, knee caping agencies whose main goal is to make sure safety and maintenance and rules are enforced, etc… But when deregulation gets out of control & someone gets a limb cut off because a machine wasn’t properly maintained? Then they wonder about why it wasn’t done & blame the federal agency for not enforcing what they can no longer enforce. Totally frustrating.
The masses have been indoctrinated by the republikkkans into believing that money is God, corporations are holy, the New York Stock Exchange is a church, a desire for a comfortable life is "Communism", unions are a sin, and working people are skum who deserve NOTHING.
When you see a situation you do not understand, look for the senseless cruelty.. (In a more rational era people said “look for the financial interest.” That era is over.)
two types of voter enable this situation: 1: the uneducated. If someone doesn't understand something, they can very easily be convinced to be against it. This is why Conservatives fight so hard to tear down public education. 2: the cruel. Many people would rather tear someone else down than lift themselves up. Conservative policies are designed to appeal to this type of person.
@@ShuRugal I'm educated, and I'm against public education as it exists in the US. In fact, much of the US education system is broken. Astronomical fees for attending University, only to get brainwashed and indoctrinated with Far Left ideology. The fact you think wanting to fix the broken system is a problem says a lot about you.
I worked at Boeing from 2012 to 2016. I complained on a company message board about the leadership team choosing to spend capital on stock buybacks instead of on training and development for employees and on capital equipment. Even Lockheed and Raytheon paid employees better and offered more professional development. Six months later I left the company because I was being emotionally abused by management. I was able to take disability for mental health until I found a new job. They still send me contractor positions for entry level employment because they can't retain people for that position. Eff Boeing.
@@piotrd.4850 To be fair, I worked on the military side of the business in F-18, F-15, and C-17 supply chain. For this reason, my benchmarks are in the MIC. But these specific problems, spending money on boosting CEO pay, affected everyone.
I worked at Boeing before and after the McDonald Douglas merger as an industrial statistician. I can attest everything Mr. Reich is saying is true. If you want a company to take the gas pipe, have Wall Street Assholes (WSA's for short) tun it. They have no passion or pride in the products and services they provide, but merely see these companies as a way to enrich themselves. Profits are a happy consequence of providing world class products and services in an efficient manner that people flock to buy. But if you put the cart before the horse and obsess about money and not your customers' and employees' needs, your greed will inevitably cause you to cut corners which inevitably leads to inferior products people ultimately then choose not to buy. Boeing is a case study in Wall Street Assholes' greed destroying everything.
I only tolerated 2% raises while the leadership team was spending all the profits on stock buybacks for a few years. After that I had enough and went to a company with better priorities: its employees.
They're chasing for profits for the next quarter, not profits for the next 5-10 years. I mean, if you cut out QA and R&D, it will generate a profit boost for a while, but that's like cutting organs out of your torso to lose weight.
Professor Reich -- Your diligent work in producing these informative videos reaches many folks who would not otherwise be routinely informed on the important issues of the day. Your fact-based and reasonably objective RU-vid presentations hit home for many. With this video clip, you have clearly highlighted the consequences of free market fanaticism and the financialization of America --- the legacy of Milton Friedman and his cult of followers. Your sincere efforts to inform the general public are to be applauded and will hopefully encourage people to push back and regularly go to the polls. Perhaps you might also consider adding automatic universal voter registration and mail-in and/or online voting to your list of concerns. This could offer Democrats their most powerful tool. Please keep up your fine work to better inform this nation. Warm regards, Dr. A.
it's all part of their plan to restore feudalism and monarchy and literally go back to the middle ages; it isn't just about undoing America but the whole project of the European enlightenment
It's interesting that citizens united essentially tells us that corporations are 'people' but if a person killed 300+ people (and lets be honest, killed a whistle blower) they would be thrown in jail.
I was born in 1969 and remember having actual repairmen that would fix televisions, refrigerators and other major appliances. They were made to last for decades, not being replaced every 5 years
My new TV failed in 5 years. I refused to toss it out so I sent the main board to a repair shop I found through eBay and now it works fine again. I hate our throw-away culture.
@@parkerbrown-nesbit1747 Heh. Dad bought Mom a portable dishwasher for Christmas. Quite apart from the classic Christmas faux pas, it did get converted to a built-in in the new house. Been working since 1975. Freezer from the early 70s, Fridge from 1980. I win!
You are absolutely right, here's some more detail. A good friend of mine when growing up was the son of the president of the commercial airplane division of Boeing through about the mid 1990's. When they bought McDonnel Douglas they didn't just eliminate the domestic competition, they brought many of the McDonnel top brass over to Boeing. McDonnel had been run with a different mind set than Boeing. McDonnel was run with a focus on accounting and stock price while Boeing was run with a laser focus on engineering. My friends dad had an accounting background and didn't always see eye to eye with the engineers but he respected them, that all changed with arrival of the McDonnel brass. The most egregious thing the new execs did was to move the corporate HQ away from where the planes were actually made. HQ was moved from Seattle to Chicago in 2001 in order to be closer to the center of the country and the customers. They may have been closer to the customers but they lost all daily contact with the engineers and the people building the planes. Once that was done it became much easier to think the planes could be made anywhere, by anyone. Another major effect splitting off the Corporate HQ had was a reduction in creative thinking. From 1960 to 1995 Boeing designed and built the 707, 727, 737, 747, 757, 767 and 777. Since 1995 Boeing has released just one new plane, the 787, which has been beset with problems since day one. I order to save money and keep the stock price high many of their other planes have simply been updated like the 737max, we know how that turned out.
Perfect example of "American Capitalism." Capitalism isn't the big issue here. It's how we've deregulated it so badly that it's become Kapitalizm Muhrika-Style.
@@TB-zf7we and capitalism only reinforces this behavior. Liberalism tries to combat it with a political economy made of up of rational thought and discussion. Political Scientists have revealed we actually live in a economic elite dominated democracy. The woes of capitalism infect our political processes. We cannot be a limited socialist or a reluctant capitalist
Yeah this is capitalism done right. Which is why it's actually terrible. Can't trust corporations to make the moral decision when there's no regulations.
Capitalism is getting the most profit for the least resources. Anything added to regulate capitalism is anti-capitalist. This is just unrestricted capitalism
When I was in school. I learned that stock buybacks were the worst use of cash/profits a management team could possibly do. It showed a complete lack of creative thought on the entirety of the executive board. Dividends aren’t much better. Neither creates real added value to the company.
Boeing is a horrible place to work. When Covid-19 hit, they told those of us that are contractors that we couldn't work "remote" but they insisted that their regular full-time employees do so. When I asked my LIFE was worth less than a full-time employee's, they told me "Boeing Policy" is that contract employees can't work remote. In response I asked, "When has Boeing ever had to deal with a global pandemic?". Less than week later the let me go. My Grandpa was 94 at the time and I lived with him. I was not willing to risk his life!
Also - The culture of slavish deference to shareholders has got to stop. They’re not the bosses they think they are. They are wrong. Thank you, Dr. Reich for all you do.
When *profit* is your highest priority, *everything* else is secondary. Capitalism places profit making over all other human needs and endeavors. *By Design* Capitalism *must* be muzzled and leashed. The Market is a piss poor regulator
Capitalism is an excellent tool... And a terrible master... It must be regulated and harnessed... THAT happens in the voting booth... We've had over 40 years of Greed is good, worship the rich, trickle down nonsense to prove how destructive it is... Time to change course.
Unfortunately, it's the marketing class in American Schools that is teaching them the wrong priorities. They teach marketing skills instead. How to fool people into paying more for less instead of buying what they need.
It will never happen in the social Darwinist shitshow called the United States. Most Americans want to be rich like Trump. Hell, aren't most Americans still hung up on the invasion of Iraq?
I built the first 600 or so GE90s for the Boeing 777, for almost 20 years. I remember when Boeing bought McDonnell Douglas, and the chaos that ensued. McD/D was in trouble due to its penny-pinching and it carried over to Boeing. Glad I'm out of the business, now. We, too were a non-union shop, but in our plant, everyone was an FAA certificated technician, so we didn't suffer the quality issues Boeing was and is dealing with. These days, I only fly planes I maintain, and no, none of those are Boeings. Terrible downfall for a once-great company.
@@dougmackenzie5976 I am relieved that my late Boeing engineer friend…the guy the other engineers called a genius…cannot watch this tragedy of mismanagement.
I remember SPEA (Seattle Professional Engineering Association) from my days at the DC in Seattle. At the time, I was not a member, but maybe should have been.
Never thought I would see the day.I flew a range of great Military fighters, General Aviation twins and then 20 odd years on the great Boeing 747SP/200/300/400/400ER.The 747 was a fabulous machine . Boeing has ruined its once great reputation.
What a child. Mao lived like Royalty during a Chinese famine that claimed 30 million lives (1959). Pooh Bear Xi, Putin, Kim Jong, all live like billionaires. Whatever you call your Magic Fairy Dust system, some people will game that system. Capitalism is just proven better at feeding, and providing opportunity for people.
EVERYTHING has its limits. Communism WILL NEVER SUCCEED because SOMEONE has to pay the bills, but when capitalists forgo the methods which made them initially successful for the pursuit ONLY OF MONETARY WEALTH TO THE DETRIMENT OF THEIR ORIGINAL ROUTE TO SUCCESS THEY WILL FAIL.
I actually did a case study of Boeing back in 2012 in business school... concluded that they had identified their problem of focusing entirely on stock price at the expense of their product and production process, and that they were on their way back up. Boy was I wrong!
No, your assessment was correct. However, what you neglected in your summary was that while executives recognised the problems, they were not prepared to take unpalatable steps to rectify issues. So the die was set, causing a once noble legacy to become soiled by corrupt, incompetent, greedy finance moguls. Further study might be warranted in whether MD deliberately ran down Boeing in order to improve its own stocks?
My university-educated health care professional parents LAUGHED at the business majors in college in the 50's. They were the flunkies who couldn't hack the hard courses. STEM was NOT an option for them. This was when professional, well-educated trained folks ran important industries. MBA's in shiny suits now lecture doctors on how to "deliver health care efficiently" in YOUR physician's exam rooms. Well we've turned this on its head. We now have the money-grubbers running critical industry like medicine, airlines, pharmaceuticals, transportation, utilities and so much else. PG&E incinerated 85 people in Paradise, CA, thanks to "running a utility like a business!" Profits over people WILL KILL YOU. Insane.
Firstly, Boeing needs a CEO who is an engineer, not a bean counter. Second, these parts, as you say, falling off Boeng aircraft, are not all because of Boeing errors or quality control, most of them are due to operator maintenance issues.
My career, before retiring, was as a programmer for a company providing computer services for airlines. I saw what Prof. Reich is talking about even then.
America is the Amish people of the world. Only the Amish stopped developing out of ethic considerations, while America as a state has stopped developing out of unethical considerations = making a society only for the benefit of billionaires and corrupt politicians. It is very sad to see, but I´m lucky to watch it from the outside.
Food, housing, ... (I found out the latter when Warren Buffet started buying up residential property and the former when Bill Gates started buying up farmland for factory farms).
Don’t be silly. Capitalism means that companies are owned by private investors. Not much more. It does not preclude governmental oversight. Here in Europe we have far more strictly regulated markets… but they are still capitalist in nature.
Sounds like you are throwing capitalism out with the bath water. Properly regulated, capitalism works because it encourages innovation, hard work, and competition.
Innovation is key… and really if they kick out that ceo and replace him with a cyborg they’ll save millions. Put those millions into teams of extra quality inspectors and Boeing is back in business!
Well, we have these things in Europe AND we have capitalism. We just don't have the neocapitalism that US is doing at the moment. I also find it really funny, when people praise "capitalism" for being superior and "having won the cold war". But they forget that there was a peak tax rate of 90%!!!! in the US. THAT is the capitalism that won against communism. Not the feudal capitalism that is being pushed at the moment.
Top execs today have simple goals: 1) screw over the employees, 2) screw over the customers, 3) screw over the long term health of the company, 4) and leave after 3 years with a huge freakin check from the private equity douchebags who hired the executives to loot the company
Remember during the 90's and 00's how corporate mergers were always touted as beneficial because of "synergies". What a huge bag of Kentucky #7 that was. Corporate mergers were/are all about nothing but eliminating competition
This is EXACTLY what's happening at Intel. Intel was the runaway # 1 chip maker in the world for decades - when Engineers were made CEO's... Then they put an "accountant" at the helm....during the MOST critical time of the company's life. TODAY, Intel doesn't have ONE. SINGLE. PRODUCT. That's leading the industry NOT. ONE. Not mobile, not desktop, not ultra mobile, NOT servers, not GPU, and certainly not A.I. NOT. ONE.
100 %. Intel will just get eaten by NVIDIA, AMD, and any company producing RISC-V cores. ARM couldn't really make inroads into the server or desktop markets. RISC-V might eventually develop the momentum to break into those markets. When that happens, Intel is toast. That will happen when Microsoft starts using custom RISC-V CPUs for its servers, so you now have Windows kernel for them.
Robert this is my problem with the health insurance industry. I told my doctor, I’m tired of having a person with a business degree making medical decisions for me. It’s my doctors expertise I want. My doctors knows what I my condition calls for, not a business person.
It's at the root of all of American commerce today. Pure capitalism will fail; regulated capitalism can lift all boats. Conservatives, Republicans, narcissists, power-mongers, and pure evil want pure capitalism.
@@phil20_20 Not all evil. Money can be a beautiful thing, not to mention how efficient it makes commerce. The true root of all evil is in human DNA because evolution has selected for this capability over the eons. It's unfortunate, but evolution does select for selfishness, violence, domineering, narcissism, greed, and deceit.
Recently, a friend informed me that she was terrified of flying! So, I reassured her, by insisting that the doors aren't falling off of ALL the airplanes......just SOME of them!
@@TraderRobin I flew a great deal in my college and early career years. I remember a night flight across country when I was a college student., had about $2 cash on me, and a cousin was being dispatched to pick me up. I was hungry, but dinner was hours earlier, so I knew there was no solution. I went back to reading. Stewardess interrupted me with a tray, covered with a large napkin. Would I like TWO meat and potatoes dinners?.. I was the youngest passenger, and one of the few awake this late…and she explained that the crew tried not to discard food… I ate both, slept the rest of the way to Boston…and have not flown in years…
I worked for Boeing in the 80's and 90's... all of us down in the trenches warned Execs that they were headed in the wrong direction after the MCD merger when they put Stonecipher from MCD in charge and declared that they weren't going to be an engineering company anymore but rather an "integrator" that would have parts manufactured in cheaper labor markets around the world, ship them back, and just put the parts together here. And then they went on a tear to raise the stock price as if that was the most important goal...
@@coonhound_pharoah We joked about it too... but it really wasn't so funny. There were a bunch of projects that Boeing had going on that MCD had parallel projects in the works. When the merger happened, obviously one of those projects would be redundant and had to go. Stonecipher seemed to almost always side with the MCD folks. I was on one of those projects that got canceled - even though IMHO we had a superior approach and implementation.
Finance people, who only creates spreadsheets, are in charge of creating hightech airplanes... Good thing they got rid of those pesky engineers in management!
In the old days, when actual engineers founded an ran tech companies (Jack Northrop - Northrop, Leroy Grumman, Bill Boeing, Simon Ramo & Dean Wooldridge - RW, STL, TRW, Andrew Viterbi - Qualcomm, Henry Sameuli - Broadcom), things were done the right way (in fact, the old TRW motto WAS "The Right Way!). But sadly, when the MBAs infect the boards of these companies (eg, Wesley Bush, who destroyed everything Kent Kresa built at NGC) things always go South in the long term, after the short term profits are extracted.
Boeing thought that designing a new airplane was a "waste" of money so put a new engine on a half century old plane, did a few adjustments and then shouted, "Voila!". Bombardier, despite having much more limited financial resources, designed a brand new 21st century airplane that won the praises of airlines, passengers and pilots. When Boeing realized that it was going to struggle to compete with Bombardier's great modern day plane Boeing could have realized their mistake and started to design a new plane that reached the same standards as Bombardier's plane - that would have been the right thing to do. Instead Boeing lobbied the American government and got the Trump administration to impose a ludicrous tariff of 292% on the Bombardier planes. Boeing really doesn't like needing to deal with competition. Bombardier eventually got the tariffs thrown out but in the meantime was forced to basically give its plane to Airbus which renamed the plane the Airbus 220. I hope that Boeing loses a lot of business to customers who decide to buy the Airbus 220 instead of a Boeing plane.
I'm flying Jet Blue because they only use Airbus and Embrarer. And Embrarers are really nice planes! I also flew a Bombadier on Delta, I believe that's a Canadian made plane. Very nice plane, very comfortable!
The Constitution guarantees the citizens the right to "address" the government, i.e. to lobby. That is not the same as saying that money is speech and cannot be limited.
@@1ring2rule3pigsLobbying is super un-democratic. Unfortunately, money from lobbying is the bulk of income politicians get so it will never be illegal... but it should...
It's gotten too big, too many mergers, too close to monochrome. Positive vibes from New Hampshire, remember to be kind to each other and yourself during these trying times.
In my experience, every employer cares far more about their shareholders than they do about employees. When my father died, my boss at the time said, "how long is this bullshit gonna take?" I couldn't participate in the planning of my dad's funeral. Later when I tried to take maternity leave, the same boss refused to let me take it because I did not ask for permission to get pregnant. He has 6 kids. My state did say that I was owed for maternity leave, but I was told that the next time I had better get permission in writing before getting pregnant again, because I should consider the shareholders before making a life change.
@@flyrobin2544 That used to be one of the reasons that they would give for not hiring women - they would get pregnant, then later come back, costing the company more money that a male employee.
@@tammyjantzen9004 They put you on salary to make you work more hours for free. I always turned down management positions because of that. Assistant Manager usually make $4 and hour. You just have to say no, to the job promotion.
Yep... replace Engineers with Accountants (or who are the new executives?)... and look what happens... If you don't deliver a safe aircraft... people won't fly... and your business collapses...
I would just like to remind people that McDonald Douglas went bankrupt in part, because the cargo doors and later an engine where ripping off the DC-10's . Boeing today really mirrors MD of the 70's/80's in the worst possible ways.
Remember the DC-10 door problem very well. It was undoubtedly a key reason that plane was never a competitor. How ironic the same problems have ocurred at Boeing.
It happens in every industry. I worked in telecommunications for 40 years. When I started,the union was strong, the company was the talk of the world for their work at Expo '86, and employees were loyal and took pride in their work. Nowadays, they have a CEO who only cares about the share price. He attacked the union, hired fly by night contractors, and sent as many jobs as possible, overseas. At the same time they rolled out some corporate "Team" BS, trying to force employees to sell their souls for the right to work there. I was lucky, I was able to retire. No wonder governments are in shambles when you vote in business people to run the country.
Boeing would just tell the media that the astronauts are on "long term, long distance assignment" and then they would sue NASA for not returning their spacecraft.
I worked at Boeing as a subcontractor in 2006. I was a scribe during labor negotiations. I wanted to work full-time, but for the union guys. We got along well. Management had several back-stabbing beeps. They fought the union over everything, and negotiations lasted over seven months that year. Looks like it only got worse.
Still crazy that the shareholders, who pushed this new policy in 1997, got away with it and fired their stooge CEO with a buttload of cash. Shareholders should be accountable.