Editorialized title makes it sound like this is a new action. The grounding previously happened. The true title “US transportation head says no grounded Boeing 737 Max 9 planes will return to air ‘until it is safe’” reflects the new news, which is simply a quote from Pete Buttigieg.
I'm a shareholder of some companies, and I don't want short-term profits over long-term business growth, or even at the expense of human lives, both for ethical reasons and because it just seems like bad business sense, at least when accounting properly for all externalities.
No? I plan on working 30-40 years - I just want my investments to grow throughout that time period so when I retire I can live off what I've earned.
As best I can tell, the only people that want "growth above all else" are the top .01% who have enough money in the bank that they can make all of their income from buying and selling stocks, as well as the hedge fund managers that get a cut of the short-term profits.
The average working-class folks that just put money into a 401k couldn't care less if this quarter is a record quarter - they care what their investment does over a much, much longer period of time.
Everyone from my circle are comparing year-to-year profitability of investment funds before new money allocation. I don't think it is true that <1% cares about short term gains.
There's a strong case to be made that MBAs, specifically the business, financial, and economic scholarship undergirding elite MBA programs, truly are the root cause.
Profit motives aren't stronger today than yesterday, and prior generations of business leaders and investors weren't more altruistic than today. What changed were the business and financial narratives regarding how best to successfully operate a business and make investments. Those newer narratives were more sophisticated and more grounded in empirical analysis, but just like older wisdoms they also incorporated many subjective, normative preferences and assumptions. It's those latter aspects, including a laissez-faire, libertarian, "greed is good" perspective, that seems to be largely responsible for many of the broader patterns we see today. People aren't more greedy today than yesterday, but there's less (both intentional and accidental) channeling of long-term thinking. The "greed is good" narrative says, among other things, that long-term profit maximization is best achieved by relentless short-term profit maximization.
The perspective at the center of MBA programs is also easily identifiable in popular political culture, but it originated in economic and legal scholarship and spread through conservative political circles before ultimately coloring and shaping much of modern American culture, conservative and liberal, today. MBA programs were one of the earliest and most important conduits for the spread of these new perspectives into the broader culture.
The plane is a lemon. Boeing would do well to admit this and build a next-gen plane so good it would take business from Airbus. Just wait till the next iteration of the Chinese airliner.
What makes you think that the Chinese aircraft industry will not offer free pilot training and dumping prices to take over the market? If allowed will happen, have no doubt about it.
We as passengers will suffer it, costs over safety. have no doubt about it
China industry works as one entity, backed by the state. The model is to enter the markets and to dump the prices until the established industries are knocked down, and finish with a Chinese company buying the broken ones (when the different governments allows it, what not always happens).
Hawuei and ZTE was selling equipment at lower prices than manufacturing costs, and subsidizing antennas. In 2012 it was started to be investigated in the European Union, and finally was banned due 5G networks and the recent espionage suspicions.
Returning to aircrafts, the recent scandal involving fake parts for engines that was being sold by AOG Technics[1]. In no articles I read about the matter it is investigated, so it is an imagination exercise, but, Where do you think these pieces were made?
Chinese write blank checks. Activate spy to do economic spying. Redirect universities graduate to support their airlines. Which countries other than China is doing that? Airbus in France? UK? USA? Couldnt even settle student loan frogiveness let alone getting liberal arts to work with Boeing. Boeing is basically Solyndra the future in the making.
We as consumers should put some blame on the airlines too for always wishing to skimp on training and thus giving perverse incentives to Boeing to mess around with crap like MCAS.
I still think Boeing is to blame for the MAX issues in the end but the problem is systemic.
The previous ceo gutted their safety culture to bare minimum the plane still able to achieve flight. Anything else is a cost that hinder his bonus. I really wish wistleblowers willing to leak out the risk-cost assessment excel spreadsheet that rumor to exist a decade. Not only MAX, their older models which still in production also have very lax production supervision I read in one of the article back when their MAX planes crashed.
Just weeks before they had issued a warning about loose bolts on the Max8 rudder. Could have easily been an accident there and then we would be talking about the 8 instead of the 9.
Loose nuts and bolts, missing washers, extra parts, machines that can't assemble the planes properly .. this is not an isolated incident to any particular plane, it is a pattern of behavior across their entire product line.
Boeing should develop a 737 MAX 9 "Fuselage Integrity Edition"TM. For a premium price, the walls will no longer spontaneously turn into points of egress. This is an incredible marketing opportunity!
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[ 3.2 ms ] story [ 69.1 ms ] threadSo, no, not every shareholder.
As best I can tell, the only people that want "growth above all else" are the top .01% who have enough money in the bank that they can make all of their income from buying and selling stocks, as well as the hedge fund managers that get a cut of the short-term profits.
The average working-class folks that just put money into a 401k couldn't care less if this quarter is a record quarter - they care what their investment does over a much, much longer period of time.
I would lean on the ever increasing desire for company’s to grow.
We need to move away from this broken concept of maximizing shareholder value above all other concerns.
The perspective at the center of MBA programs is also easily identifiable in popular political culture, but it originated in economic and legal scholarship and spread through conservative political circles before ultimately coloring and shaping much of modern American culture, conservative and liberal, today. MBA programs were one of the earliest and most important conduits for the spread of these new perspectives into the broader culture.
We as passengers will suffer it, costs over safety. have no doubt about it
China industry works as one entity, backed by the state. The model is to enter the markets and to dump the prices until the established industries are knocked down, and finish with a Chinese company buying the broken ones (when the different governments allows it, what not always happens).
Hawuei and ZTE was selling equipment at lower prices than manufacturing costs, and subsidizing antennas. In 2012 it was started to be investigated in the European Union, and finally was banned due 5G networks and the recent espionage suspicions.
Returning to aircrafts, the recent scandal involving fake parts for engines that was being sold by AOG Technics[1]. In no articles I read about the matter it is investigated, so it is an imagination exercise, but, Where do you think these pieces were made?
[1] https://www.independent.co.uk/news/uk/crime/airline-scandal-...
That's effectively how every large industry in every country acts.
We as consumers should put some blame on the airlines too for always wishing to skimp on training and thus giving perverse incentives to Boeing to mess around with crap like MCAS.
I still think Boeing is to blame for the MAX issues in the end but the problem is systemic.
This plane just happened to have the failure.
Just weeks before they had issued a warning about loose bolts on the Max8 rudder. Could have easily been an accident there and then we would be talking about the 8 instead of the 9.
Loose nuts and bolts, missing washers, extra parts, machines that can't assemble the planes properly .. this is not an isolated incident to any particular plane, it is a pattern of behavior across their entire product line.
https://youtu.be/3m5qxZm_JqM