The Boeing company reported dreadful first-quarter results on April 27, far worse than analysts were expecting. At this point, Boeing should be recovering steadily from MAX setbacks and the global pandemic, but new problems keep cropping up–both on the commercial and on the defense side. The company probably cannot survive if it stays on its current vector. Political elites in Washington seem oblivious to what that would mean. America would lose its biggest exporter, and probably its global dominance of the aerospace business. Because of the role Boeing plays in trade and the broader economy, this about more than one company; it is about a whole industry, and the thousands of domestic suppliers that support it. In other words, this is about national industrial policy. Washington needs to be doing more, which starts with paying closer attention. I have written a commentary for Forbes here.
Find Archived Articles: