Federal officials on Saturday ordered the immediate grounding of Boeing 737-9 Max jetliners after an Alaska Airlines plane suffered a blowout that left a gaping hole in the side of the fuselage.
[…]
An Alaska Airlines jetliner blew out a window and a portion of its fuselage shortly after takeoff three miles above Oregon late Friday, creating a gaping hole that forced the pilots to make an emergency landing as its 174 passengers and six crew members donned oxygen masks.
No one was seriously hurt as the depressurized plane returned safely to Portland International Airport about 20 minutes after it had departed, but the airline grounded its 65 Boeing 737-9 Max aircraft until they can be inspected. The National Transportation Safety Board said Saturday it will also investigate.
A company once driven by engineers became driven by finance. Atlantic article by Jerry Useem
Fucking MBAs ruin everything they touch.
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Great read, thanks for sharing.
Hey everyone, don’t merge two companies and let the one that didn’t give a shit about engineering take over everything.
Sorry, but the shareholders demand you stop wasting money on this “engineering” thing.
We always say shit like this, but do you think Boeing stockholders are psyched right now?
When are we gonna realize, fiscally, that it makes no sense to put idiotic psychopaths who cannot see the big picture in charge?
This is BAD FUCKIN BUSINESS.
Stock holders are glorified gamblers. They don’t care that a company crashes as long as they can dump the stock to schmucks left holding the bag.
That is not true. The largest percentage shareholder is that of the employee stock purchase plan for Boeing stocks.
They care about their work and their stock price.
Source?
Technically they are both wrong. The employees usually quicksell the stock, meaning as soon as they get it, the system automatically sells it. So the stock participation plan owns the stock most of the year.
Since the stock is given to them at a discount on the lower price of the begining or ending of the usually 6 month period, they make money either way. That and the fact that most employees feel their work doesn’t impact the stock price leads most to simply not care about it. There are always some financially minded who care, but most blame the market for drops. Only a very few blame the leadership.
Source, worked at a similarly large corp that had engineering based CEOs and the a finance CEO who ruined everything. Worked there 15 years. Never going back.
For me, at least, between ESPP, RSU, and SOP, my portfolio is over exposed to my employer. I sell a lot, but due to mandatory holding periods, and recent dips in price, I’m holding more than I want. I don’t think that a sense of my work impacting stock really makes a difference in my choice to hold or sell. It’s more about long term vs short term capital gains. The only things I quick sell are my RSUs since those have no requirements and taxes are paid on distribution.
Unfortunately stockholders have about as much capacity to see the consequences of their actions as a toddler does.
They don’t care that 5 or even 2 years from now their cuts will mean planes falling out of the sky, they just see profits go up next month.
I think the worlds covid response says that this is literally never going to happen. Psychos run the world and we are all getting fucked by them.
The case where it was determined that a company has a fiduciary duty to share holders to maximize profit is up there with Dobbs and Citizens United in terms of damage caused to the fabric of society.
I’ve been avoiding the max like the plague, but my first flight on one was today after reading about the Alaskan flight. I wasn’t near where the plug is afaict, and it was a good flight, but I did have a firm grip on the seat in front of me for the first 20k feet
Sure thing Boeing will blame the crew, we saw this movie before. It has to maintain its market price, not the safety of the passengers.
For so many reasons, including this one, I am never flying again unless I have no other choice. I have not had a good experience flying since I was on a trip to Italy in in 1984 when I was 7. And that was because I was 7.
New username: WalkingSquid.
Keep in mind that aviation travel is ultra safe high risk. What that means is that it’s extremely safe due to the number of failsafe and redundancy built into the aircrafts. The high risk portion is due to the fact that in the event of a critical failure, the risk of death is high.
In the event of a critical failure it is ultimately up to the pilot to determine the aircraft is safe to fly during all the pre flight checks that need to be completed before takeoff. An incident rarely ever is a simple source but a layer of bad oversights. Most incidents can be prevented by doing the job correctly.
I’m a GA pilot (general aviation) and this stuff had been drilled into us for even private pilot certifications. Safety, safety, safety. I think that some newer aircraft maybe need more thorough testing before being released to fly. I also think that airline companies need to listen to the pilots more than they say they do.
I have a different anecdotal experience! I love flying, and I rarely have a bad experience.
I do hate those 737Max monstrosities, though.
