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269 points rntn | 1 comments | | HN request time: 0s | source
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renegade-otter ◴[] No.41888004[source]
But the shareholders have been taken care of, right? Is the sacred shareholder OKAY?

Never mind that a famed company has been dismantled to pump the stock for a few years (and how long it took is a testament to its former excellence).

https://www.amazon.com/Flying-Blind-Tragedy-Fall-Boeing/dp/0...

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jaybrendansmith ◴[] No.41888881[source]
We have a serious problem with corporate governance in this country. To be clear, it should NOT BE POSSIBLE to hollow out and destroy a company in this way and be rewarded for it by wall street. We keep blaming the bad actors, but the truth is, the regulators are at fault: It should be impossible to profit in this way. Changes to corporate governance rules would leave this still possible for private companies, but public companies would be judged differently and to a higher standard. Anyone here a public policy wonk who can explain how to change this?
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zaphar ◴[] No.41891418[source]
You fix this by letting Boeing fail. They keep going because our government keeps bailing them out. We deem them too important to fail so we keep holding their corpse up Weekend at Bernies style and hope the voodoo music doesn't cut out.

Fix the regulatory regime but also streamline it so other companies can begin to compete. We'll be without a domestic Airliner manufacturer for a bit but I don't think you fix this without eating that pain for a while.

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renegade-otter ◴[] No.41894607[source]
Boeing is failing because the government let it "self-regulate". This is directly related to the MAX tragedies. The assumption that a company will do the worst possible thing as a "citizen" should always be the starting point.

Air travel did not become one of the safest ways of transport out of the pure, intrinsic will of the industry to be better. it took decades of beating them into doing what's right.

Why don't we still have video recordings of cockpits for the Black Box? It would dramatically help in solving accidents, but the industry has been fighting this tooth and nail. "It's expensive!". "Safety" never comes up - that's the government's job.

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1. zaphar ◴[] No.41895224{3}[source]
Boeing is failing because it's a private company with no market consequences for doing badly and no domestic competition. Those are not caused by self-regulation they are caused by bad economic policy. Regulation is a part of the story but the rot at Boeing started long before the self-regulation did. Their quality and ability to compete at a profit has been dropping for longer than the regulatory issues.