Corporate Gossip Boeing Blows It
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Mar 17, 2023 Discussion on Boeing's engineering decline and shareholder value maximization, the 737 Max crashes, the influence of Jack Welch, manufacturing issues, controversial decisions, a Senate hearing with Dennis Muhlenberg, and the costs of prioritizing shareholder value maximization.
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Whistleblower Ed Pearson's Warning
- Ed Pearson, a senior Boeing manager, warned about production issues and worker fatigue in a letter to leadership.
- His concerns were ignored, and he retired months before a fatal 737 MAX crash from the same factory.
Deregulation Shifts Boeing Focus
- Airline deregulation increased competition and lowered fares, benefiting consumers broadly.
- However, deregulation pressured Boeing to cut costs, shifting focus from engineering to finance.
Boeing's Complacent Culture
- Boeing's factory culture shifted from a protective 'family' to a complacent environment with protected senior managers.
- Laziness prevailed and bureaucratic inefficiencies grew, damaging production quality over time.