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The good news is that if Boeing does announce it’s moving more operations to South Carolina, Seattle can expect at least a decade’s delay based on the airplane maker’s recent performance. Bedeviled to the tune of $1.7 billion in losses on its 747-8 program, Boeing cannot seem to make a deadline stick: “The company unexpectedly announced that the first new 747-8 jumbo jet, slated to fly in November, now won’t leave the ground until next year. The postponement contrasts sharply with confident assertions made by the head of the program just six weeks ago…” reports the Seattle Times.
I don’t know how sharp the contrast is. Boeing has become the home of confident assertions with a six-week lifespan.
Each time a delay or cost overrun is announced, it sets off a new round of blame-assignation. This time a leading theory is that Boeing diverted its dwindling engineering resources to the vastly more troubled 787 Dreamliner program at the expense of the 747-8. (Any day now I expect to hear that the Dreamliner team is foregoing carbon fiber and looking into spruce.)
Jon Talton at the Times takes a longer view, and suggests that its time for the Boeing board to fire Chairman and Chief Executive James McNerney. This would be an unusually proactive move for a board of late, who seem to prefer letting CEOs hit the eject button themselves when they can’t shake the death spiral.