Here is my assessment of Dennis Muilenburg press conference.
In other words, it was exactly what the consultants and lawyers wanted. The central theme is essentially the Black Swan theory made famous by Nassim Taleb after the 2008 financial crisis. Muilenburg using links, and the chain events in the link, indirectly spread the blame.
A series of mistakes that involve feckless institutions (FAA), complex issues (MCAS system), and human error (pilots didn’t follow guidelines) create unthinkable outcomes with significant global impact.
By reiterating the design and certification met standards rather than admitting flaws, Boeing CEO might have mitigated legal liability but not a good look for the public and passengers.
Ironically, Muilenburg did talk about regaining trust and aggressive pilot training (mostly online with simulators optional) and offering dual sensors for MCAS engagement as part of the fix.
While reporters and others were clearly frustrated, the performance might have been good enough for investors and Wall Street.
A vote on splitting the dual role of CEO and chairman was voted down.
Shares of Boeing held up during and immediately after press conference. By pointing out key 737 statistics:
The press conference is a reminder of the demand for the plane to meet the insatiable global demand.
Rest of Market
The session is not unlike Friday, with a slow move higher, but new highs beget new highs and creates a lot of pressure for pros that continue to miss the boat to make a move even if its face-saving window-dressing. I find the action in the Financials very compelling, as the sector has become something of a value play now. Equally, selling in Utilities and Real Estate suggest a fear of a pullback.
|Remember, the solution to the "problem" was published by Boeing in the Flight Operation Manual which is on board every aircraft by law. It was also covered in Pilot Training manual/class and supposed to be taught in class per Boeing. The only accidents occurred in foreign countries by foreign pilots trained by foreigners who were schooled by Boeing. I would say the consultants and lawyers had better take a crash course in Airline Methodology and applicable federal Laws.|
cjmcd on 4/29/2019 1:28:55 PM
|Truth wins out in the long run. Shame on Boeing when in house they knew the reason. CEO and others should be given pink slips with no compensation. It is the only way they and others can have confidence that what they are being told is not FAKE NEWS. Credibility like money is KING.|
Jim Gill on 4/29/2019 4:06:33 PM
|Charles it's sad but FACTS are the series of events leading to mass loss of life, still point to pilots with only 200hrs ( NOT 1500 hr like required in USA) , India was the FIRST on day of ETHIOPIA crash to RAISE their pilots to 1000hrs flight time training skillsets &methods and memory of equipment EMERGENCY actions. Indonesia crash was warned a day earlier when a pilot with over 1500 hrs training saved the doomed aircraft from a crash ,as a passenger he had to take over for less trained pilots whom were not able to disengage the two switches, this was of COURSE not released info the next day when some plane and flight pilots crashed that Indonesian plane. BA is a strong company with 20yrs & est 6.7$TRILLION DOLLARS of orders backlogged, across military, services, parts, aerospace, helicopters, Satellites, drones.etc. With president Trump and ALL the countries that have gained militarily leads over USA, due to 8yrs of underfunded& drastic cuts & sacrifice of & to USA military abilities, dominance, lack of training readiness, over half air planes missing parts, not battle or air ready, even ships collided due to lack of funding caused loss of lives, USA needs to have more military resources spending & R&D which bodies well for BA.. ALSO CHARLES PAYNE FBN, PLEASE REPORT & INVESTIGATE about Vodafone Reports that THEY have evidence to PROVE Huawei for years have security backdoors ACCESSIBLE ,and VODAFONE REPORTS that they are AGREEING with USA ON SECURITY ISSUES ABOUT HUAWEI PRODUCTS. Thank you Charles PAYNE & FBN. Thank you president Trump. We know with China trade DEALS being close to a complete deal, we hope Canada will extradite the Huawei Chinese employee woman that did multiple IRAN SANCTIONS Violations. USA needs to provide a Consequence for ALL SANCTIONS Violations.|
Ed on 4/30/2019 3:42:37 AM
Products & Services |
In The Media |
About Us |
All Rights Reserved.