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Boeing CEO vs Occupy Wall St

Occupy Wall Street is demonstrating outside the Credit Suisse aerospace conference in New York and passed out a flier criticizing defense spending. Boeing is listed as the number 5 defense contractor. Jim Albaugh, CEO of Boeing Commercial Aircraft, looked at the flier and with his ever-present sense of humor said, “That’s wrong. We’re number 2. Take this out and have them retract this.” ( 기타...

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Did the OWS people invent derivitives or credit default swaps? Did the OWS people almost ruin the economy? Stop thinking about your perception of who the OWS people are and how they act and start thinking about why they are there. We tax payers bailed out the banking industry and that industry has thanked us by awarding themselves record bonuses due to record profits. They now sit on $4 trillion in cash that could be used as loans for business to expand and hire people.
"Did the OWS people almost ruin the economy?"

No. But give them time.
Ask any Occupy protester exactly what they would like done mow and they don't really know. But they'll give you an obscure and cryptic answer anyway.
Cryptic - decoded = "give me some free money and a great job without having to work for it and do it by taking it from the fat cats".
I don't think OWS really know what they are protesting about. There's been so many interpretations from the media, I wonder if anyone really knows.
The OWS people are the living and breathing echo of the looters in Ayn Rand's "Atlas Shrugged." If you take a look at the average OWS looter, you will see an immature French Lit major who thinks that their chin tattoo and 27 pounds of facial piercings qualifies them for a 100,000 dollar a year job. Sorry but that isn't the case. Corporate America is hiring people that look professional and major in a real subject. Art history and Bolivian Literature are not real subjects.
Excellent!!!!! I would pass over any applicant that shows up for an interview with visible piercings and tatoos. Even females should be conscious enough about their appearance to remove ear rings for an interview. If you are a male with piercings don't even bother knocking on my door.
I know people (including some family) that I love that display some of the above. But, I wouldn't hire them!!!!!!!!!!! Not a good face for my business.
I suppose you would check the applicants for piercings??
They are manufacturers, Their end-use client pays taxes(of course in government that's not the case, but employees/contractors pay taxes on their income), as for profits, they go to Shareholders who then pay taxes, any left over goes into development. I cant explain every detail here, but really, go back to school and Not a liberal school!
Paul, don't confuse these people with facts and logic, you're wasting your breath.
Occupiers need to start looking for work, they cant play this game forever.
Our national defense is was makes America strong only a moron wouldnt understand.
Les Ede 0
Boeing has been screwing Washington state for years.... we like everybody else is having budget problems but that useless twit gregoire wants millions to set up 700 slots for training engineers for boeing.....boeing needs to be in the dumper.... they are not the only aircraft company going but are smart enough to screw Washington State
It's the other way around. Washington State aka The Soviet Of Washington for decades treated Boeing as a cash cow to be milked for all it's worth, more so at the county level. In the early 90's Boeing was the victim of extortion in order to be granted a building permit to use some of their unused parking space to build the 777 addition to the plant. To get a building permit they were forced to build low cost housing elsewhere in the county. This was Snohomish county.

Another tidbit of info is that the amount of unemployment taxes Boeing paid for years was far greater than if Boeing had paid their laid off employees themselves during a downturn and the construction industry was getting a free ride off of Boeing's back not to mention the rest of the state's unemployed at any given time.

As one other poster put it, Boeing overpaid taxes for at least a few decades. Also keep in mind that Boeing offsets the trade deficit by 40% in and of themselves. There is a good reason why many on Capitol Hill consider this to be very important.
There are Makers and Takers.

Does OWS help or hurt. Their name fits well.
Why would anyone expect expect these intellectual amoeba to be correct about anything, when the closest thing to being grounded to reality in their parallel universe is their jar of "magical mushrooms"!
Way to set 'em straight Jim!
vanbess 0
OWS people dont realize that the attack on defense spending is attack on Jobs that are created by the manufacturing of that equipment so that means they are protesting to destroy jobs.
OWS people don't realize a lot of stuff. Nicely done, Mr. Albaugh.
All of the Occupy protesters don't know crap...all they are is a one man group that started into a bandwagon group.
btweston 0
Like the tea party, but honest.
Once you have actually provided for a family and realize just exactly where a real paycheck comes from you may understand just how flawed your cult position is.
Brady Weston, no... more Like, deceitful and selling coercive persuasion...
Exactly what don't they realize. I would like some facts. I mean real facts, not the ones created for FOX News.
Good line!!
Ending a war will destroy jobs. Plus, Boeing has quite a few other opportunities to pursue that don't involve defense contracts. The biggest opportunity I can think of is going on right now in Florida. If they can expand their space production that can save all of those defense contract jobs. They have a rare chance that even Virgin doesn't have. They have pre existing facilities to build upon. They have easy access to NASA engineers who might be looking for a job if congress can't get their act together.
"Ending a war will destroy jobs."
I hope this was said tongue in cheek ;)
I can just hear the GOP calling it job-killing-peace.
I'm serious. I want the war with no point over too. (I never saw any proof of WMD or terrorist harboring in Iraq) I just know a lot of soldiers are coming home looking for jobs with untreated PTSD or missing limbs. Most of those guys don't have degrees, because they haven't hade time being deployed an all, so they're not able to get the blue collar jobs typically taken by people without degrees. Maybe Boeing can help returning soldiers by sending them to school then giving them a job in the expanding space tourism industry.
n64jok 0
I like your condescending attitude, very classy.

Paying a bunch of people to throw rocks into the ocean also creates jobs and cutting that money would destroy the very same jobs. The real question is how to spend the limited resources available to the government as effectively as possibly. I'm pretty confident that there are a number of Boeing military contracts that do not represent the best return on investment right now.
The OWS bowel movement is just that. Glad Boeing stood up for themselves unlike these stupid mayors who let their parks get destroyed by these fools. Boeing has provided great jobs for many people and has nothing to apologize for. The OWS have wasted millions of tax payer dollars as cities and police have to clean up there mess. Thank you Boeing for building quality aircraft I enjoy flying :)
Yep, glad to see that they are all starting to get cleared out. In the end, i think alot of these OWS camps just became a place for troubled people, who were not there to protest anything. I am happy that my city decided to finally clear them out of my downtown area!
Good for him. They should get their facts straight.
btweston 0
You should chill out.

(And the fact that they are number two actually reinforces the occupiers' point)
I should "chill out"? Uhhhhh, i am in no way heated up. I made a very simple, even toned, comment. You may want to put a few ice-cubes around your collar though.
Go get a job
The business that they will be much more expense is hooey. The prices charged are what the market will bear in all cases. Asian producers, esepcially Japan and Taiwan, are extremely efficient. They are continually developing products such that nearly all electronics are in a six-month life cycle. The only thing that comes close is Apple. Prices fluctuate down rapidly. They won't cost much more if production came back here. See Germany. Europeans put a 20% VAT on all imported goods. It's not called a tariff. It's an across the board tax so China does not get its feelings hurt. In 2009 Germany was the world's largest exporter, not China. It had high wages, high taxes, 6 week vacations and excellent public services of all kinds, last time I checked. When your wages are going up and services you get daily are top notch you don't mind paying extra. We need to reverse this race to the bottom mentality that had for 30 years. Look where it has gotten us. Nowheresville.
You're a point. Prices charged are what the market will bear. If the market won't bear it at the price necessary to cover the cost of production in the US...the production gets moved elsewhere so that there is a margin. As you mentioned, Asian producers are extremely efficient.

Of course there is always a battle between good, cheap, and fast. You can pick any two of them. Hard drives manufactured in China stink. Unfortunately, a growing number of them are being made in China. If a company like Segate or Western Digital wanted to start making them in the US again, they could charge 10x as much and it would be worth it...assuming they could regain the quality standards they once had.

My technology firm competes directly with companies that outsource their support professionals to India. We are having absolutely no problem competing. Our labor costs are significantly higher, but we compete on value. Don't get me wrong, there are plenty of extremely intelligent people in India. But there are also some total morons, and it seems that those are the ones that typically answer the Level I help desk.

It is certainly possible to compete. But it is certainly becoming more difficult, thanks to government involvement. This is not a slam on either political party. They are both equally corrupt.
Give em hell, Jim !
OWS is a total political movement fabricated by the liberals to create mayhem so that the current administration can step in and control another slice of this country. It's created by the same criminals that collapsed the banks 3 years ago and put this administration in office. It's the foundation of communism folks and it will destroy this country. Don't think for one minute that this OWS movement is a tea party. It's a very serious problem that is only going to get worse. Everyone on the hill needs to be fired just like a real business would have to survive. We need leadership that has experience on the hill, not community volunteers that have never balanced a check book.
Cannikin 0
Pay your taxes, Boeing.
What do you mean??
???? Explain your comment. If you can.
Why don't the Occupy protesters pay taxes??? Getting arrested everyday is not helping them pass a background check. So they can get their $60k a year job, they want handed to them!!
If they hadn't been laid off so their corporation's CEO could get a bonus I net they would love to pay taxes. I think you forgot, most of these people are Democrats. People who vote for people who, as Republicans put it, like to raise taxes.

According to this, Boeing 'overpaid' taxes in the 80s and 90s, so it gets some tax credits now? I don't buy it.

And we wonder why there is a budget deficit while those most able to pay taxes, such as Boeing, pay nothing.
Indirectly, I suppose the income tax on their employees offsets this somewhat, but every other honest business in the country pays taxes on their profits too.
There must be a lot of dishonest corporations in this country. GE and Verizon pay no taxes on their profits.
It was a priceless comment said with great wit. The people who have taken offense to it are reading way to much into it. I own a small corporation that is constantly competing with giant corporations -- many of whom are at least partially subsidized by the federal government (read: ME). I have absolutely no love of giant corporations. But the line was still priceless.

As for OWS -- when they decide to come to some consensus on what the heck they really want and are willing to lawfully pursue those objectives, I believe that more people will be willing to listen.

I don't like cronyism. The federal government is absolutely horrible at picking winners and loosers. People in a free society are much better at doing that themselves. Of course the most effect method in history for expressing those choices is capitalism. If you don't like the fact that the Apple builds their iPhones in's a clue...DON'T BUY THEM! You have an incredible amount of influence. But when you get their attention and they move production back to the US, please don't complain that they cost 7x as much.
Cannikin 0
Pay your taxes, Boeing.
And exactly who really cares about OWS? Good comeback line.
The B-47 begot the 707 and was a subsidized aircraft with defense spending and research. Does it matter really if they are No. 2 or No.5 (could have been a typo)?
They are big, bigger than most of us, will out live us all, and they are a paper entity and a "person" according to the Supreme Court I want them to be the very best maker of civilian airliners in the world. But as a defense contractor, they can all be trimmed back a lot. The world is not heading in a direction of obsolete bombers, fighters and tankers. The C-17 is definitely needed, especially to move lots equipment and relief supplies into isolated areas as global warming continues to take its toll on many parts of the world. In fact I would favor a fleet of at least 100 such planes stationed in various airports as a rapid response unit, that could be quickly loaded with tents, food and medical supplies for victims of storms, floods, earthquakes, etc. This should be a UN supported force so we don't pick up the whole bill. Believe it or not, the world other than us really wants more peace but has to respond to our endless appetite for military equipment, not civilian.
Have I stumbled into ?
I find the OWS folks hilarious!!! here they're so ANTI-Business, as they use their Iphones made by a 1% percenter, to take video of police. They sleep in tents made by those rotton corporations. Whats even more funny, is they probably fly on Boeing airplanes from one taxpayer funded camp ground (a city park) to the next.
No, what;s so funny is that you don't understand what is going on with OWS Yep, they're using iPhones, etc. but where are the iphones being made? China of course. They come in duty free into the US and that fact has cost the US jobs, thousands of them. Does China let in US goods in duty-free? Nope. Try it some time. You can't. It's a closed shop. This is just one of hundreds of issues that OWS attempts to raise consciousness on. Yes, they use Boeing aircraft to fly. No one is against flying on Boeing aircraft. They are the best. But if Boeing insists on cutting wages and moves plants to non-union states, there is then less money for people to use Boeing aircraft as passengers, thus putting airlines in danger of bankruptcy. See American Airlines now. See Henry Ford in 1910. Why did Henry Ford pay his work 3 times more than the other companies and this was before the UAW? This is what the OWS is all about.
The Union strike in 2008 cost Boeing almost 2 BILLION DOLLARS!! And for that they got a raise and a "signing bonus" for promising not to do it again (only until the contract runs out again), after getting their whores in DC to threaten Boeing even more.

What difference does it make where I-Phones are made? If they were made here, by you and your Union buddies, NOBODY COULD AFFORD ONE!
C W 0
Good for Mr. Albaugh. These people are so misguided. What they need is a lesson in economics. Why do they insist on harassing the people and/or companies that create the employment?
Looks like a few people on this forum need a lesson in economics too.
Good for him! The average corproration does more in charity and community service in one weekend than these loonies and scumbags will do in a lifetime.
They do? Which ones? How much? And you know this because?
Because it's not difficult for anyone with a modicum of intelligence to check this fact for themselves.

Most companies do give to charity and it is usually the employees themselves that voluntarily do this. I know that Boeing employees donate to charities paycheck by paycheck and most groups adopt families for Christmas, find out what they need, buy gifts and deliver them to the family in need themselves. This is purely voluntary. Nobody is obligated to do any of this, they do it because they want to give. There are actual humans working at these places in case you didn't know.

Richard is right in his assertion.
yes, all of them, because they pay taxes unlike the OWS
linbb 0
What a bunch of POS people out ther one good bomb would clear the streets and get things back on track. They have no direction in life as they know very little about it just like back in the hippy era those people from then have moved on for the most part to normal jobs and lives just like these people will. But first there will come violence just like back then.


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