Tag: Boeing

Dow Jones Posts Small Gain as Boeing Predicts Tough Decade Ahead, Walmart Launches Insurance Business

The stock market was volatile on Tuesday after posting solid gains to start the week. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.37% at 1:10 p.m. EDT today, outperforming the other major indexes.

One thing keeping the stock market in check could be comments from Federal Reserve chairman Jerome Powell, who warned on Tuesday that too little government aid would lead to a weak economic recovery. Congress has yet to agree on additional stimulus measures, and an agreement does not appear close.

Shares of Boeing (NYSE: BA) were moving in the wrong direction on Tuesday after the airplane manufacturer predicted a difficult decade ahead. Meanwhile, the stock of Walmart (NYSE: WMT) was little changed after the retailer announced an insurance brokerage business.

An airplane.

Image source: Getty Images.

Boeing forecasts tough years ahead

The coronavirus pandemic has greatly reduced demand for air travel. While the number of daily air passengers

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Analysts warn of Boeing talent drain, question company’s long-term strategy | In depth

A cadre of departing mid-level Boeing staff has raised questions about whether the company could find itself short of critical expertise needed to advance future commercial aircraft programmes, say aerospace experts.

Bloomberg reported on 26 September that 170 Boeing vice-presidents and other middle-tier staff, including 70 commercial aircraft employees, have taken buyouts. The first of those will depart the company on 2 October in exchange for one year of salary.

boeing building

Boeing insists staff cuts will not degrade its ability to compete. But some industry experts express surprise at how many skilled workers are leaving, warning that Boeing must be careful not to cut too deep.

“We are witnessing the departure of a critically talented, experienced segment of the Boeing executive workforce. And that you cannot replace easily,” says Michel Merluzeau, aerospace analyst with consultancy AIR.

“The response has reportedly been really strong to the voluntary layoff packages,” he adds. “I

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Artificial Intelligence in Military Market Volume, Share, CAGR and Business Strategies by Key Players | Leidos Inc, Thales Group, Boeing Company

The MarketWatch News Department was not involved in the creation of this content.

Sep 25, 2020 (WiredRelease via Comtex) —
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Spirit AeroSystems’ Plan to Diversify Away from Boeing Is Falling Apart

Try as it will, Spirit AeroSystems Holdings (NYSE:SPR) just can’t seem to break free from former parent Boeing (NYSE:BA).

Spirit has attempted a number of ill-fated efforts to diversify away from Boeing in the years since its 2005 spinoff. Its latest effort, which showed great promise heading into 2020, appears to be unraveling during what is a chaotic time for commercial aerospace.

The ramifications would set Spirit’s growth back for years, and could reverberate through the entire commercial aerospace supply chain.

Getting out from under Boeing’s wing

Spirit is the one-time fuselage operation of Boeing, and the company still generates about three-quarters of its revenue from its former parent. Early in its history, the company tried to diversify its business by acquiring mostly low-margin castoffs from other suppliers, and it spent the better part of the last decade shedding those units and strengthening its core business.

In 2018, the

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American Airlines starting Boeing 737 Max pilot training in November

American expects all of its Boeing 737 pilots to be trained by the end of January, according to a memo to pilots Monday laying out “the planned return to service for our B737 Max aircraft in the near future.” About 1,700 pilots will complete the courses in November, said the memo from Ameya Kingaonkar, director of flight training planning and scheduling.

“We have not made any definitive plans regarding the Max,” American said in a statement. “We have initiated the pilot training scheduling process, which can be canceled if the Max is not recertified. We remain in contact with the FAA and Boeing on the recertification process.”

The memo heightened speculation that the Max is closing in on final regulatory approvals that would end an 18-month grounding imposed after two fatal crashes.

Before new simulator training is approved, an international panel of regulators must complete a review that began last

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Boeing Appoints Marc Allen Chief Strategy Officer and names Chris Raymond as Company’s First Chief Sustainability Officer | News

CHICAGO, Sept. 17, 2020 /PRNewswire/ — The Boeing Company (NYSE: BA) today named B. Marc Allen as chief strategy officer and senior vice president, Strategy and Corporate Development, reporting to President and CEO David Calhoun. The company also announced Christopher Raymond as the company’s chief sustainability officer, a newly created position reporting to Executive Vice President, Enterprise Operations and Chief Financial Officer Greg Smith. The appointments are effective Oct. 1.

Allen, first appointed to the company’s Executive Council in 2014 as president of Boeing International, will now take on responsibility for the enterprise’s overarching strategy, including long-term planning; global business and corporate development; and strategic investments, acquisitions and divestitures. He most recently served as president of Embraer Partnership and Group Operations, leading the associated business and integration teams, before terminating the partnership in April 2020. Before joining the Executive Council, Allen served in leadership positions

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Boeing Appoints Marc Allen Chief Strategy Officer and names Chris Raymond as Company’s First Chief Sustainability Officer

CHICAGO, Sept. 17, 2020 /PRNewswire/ — The Boeing Company (NYSE: BA) today named B. Marc Allen as chief strategy officer and senior vice president, Strategy and Corporate Development, reporting to President and CEO David Calhoun. The company also announced Christopher Raymond as the company’s chief sustainability officer, a newly created position reporting to Executive Vice President, Enterprise Operations and Chief Financial Officer Greg Smith. The appointments are effective Oct. 1.

Allen, first appointed to the company’s Executive Council in 2014 as president of Boeing International, will now take on responsibility for the enterprise’s overarching strategy, including long-term planning; global business and corporate development; and strategic investments, acquisitions and divestitures. He most recently served as president of Embraer Partnership and Group Operations, leading the associated business and integration teams, before terminating the partnership in April 2020. Before joining the Executive Council, Allen served in leadership positions

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Regulators to examine pilot training for Boeing 737 Max jets

Aviation regulators and pilots from several countries will begin next week reviewing Boeing’s proposal for training pilots to fly the revamped 737 Max, a sign that the grounded plane is moving closer to returning to service.

The Federal Aviation Administration said Friday that the review will start Monday at London’s Gatwick Airport and last about nine days. The review will include aviation officials and pilots from the United States, Canada, Brazil and the European Union.

The FAA said several other steps remain before the plane can resume flying, including a review to make sure Boeing’s changes comply with safety regulations.

Boeing changed computers and flight software on the Max after an automated anti-stall system pushed down the noses of two jets before they crashed in Indonesia and Ethiopia, killing 346 people. Max planes have been grounded worldwide since March 2019.

U.S. safety investigators who reviewed the two crashes recommended that

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