Boeing HQ
Today’s key stories about Boeing feature the company’s recent moves and deals, including a $10 billion bond issue, acquisition of a supplier, and a titanium deal. Despite that activity, the investment community is looking at a Boeing turnaround being “multiple quarters in the future” with another analyst downgrading the stock to hold from buy.
Other stories focus on risk, including Boeing firefighters picketing with a strike deadline closing in, how whistleblower laws have protected Boeing from prosecution, and a major proxy advisor recommending shareholders vote against three directors, including current CEO Dave Calhoun.
Links to today’s key stories follow:
- Full Circle: Why Boeing had to buy back a Missouri supplier it sold off in 2001 – Spokesman Review
- Boeing gets a welcome respite with $10B bond offering – Seattle Times
- Norsk Titanium secures deal with Boeing, posts robust growth amid aerospace market expansion – Proactive Investors
- Boeing cut to hold at Argus as turnaround opportunity ‘multiple quarters in the future’ – Investing.com
- Boeing firefighters picket with strike fast approaching – MyNorthwest
- Whistleblower laws that protect lawbreakers – The American Prospect
- Glass Lewis recommends investors vote against three Boeing directors Dave Calhoun, Akhil Johri, and David Joyce to the companies board – Reuters
- Boeing’s last chance: meaningful purpose, powerful culture, enlightened leadership – Forbes
The Bottom Line:
The final story describes the current situation as Boeing’s last chance, focusing on the fundamentals, including purpose, culture and leadership. Those are the reasons we believe that Boeing needs to focus on an outsider as its next CEO to credibly implement cultural change to truly turn around a company that has lost its way.
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