The litany of bad news continues to plague Boeing, the once-marquee name in aeronautics.
As previously reported, Boeing bragged that its 737 MAX jet plane was the fastest-selling airplane in its history, winning clients around the world. The reality did not match the hype. The high hopes for the aircraft dissipated and the fortunes of this once-storied American business are fast fading.
Two of its jet planes crashed resulting in the death of over 300 passengers. There were allegations that executives knew or should have known about issues with the jet regarding software problems and lack of adequate pilot training. Then-CEO Dennis Muilenburg was brought before Congress to explain how these tragedies were allowed to happen. Muilenburg epitomized the cold and out-of-touch CEO. He famously told Congress members, “We don’t ‘sell’ safety; that’s not our business model.”
To add insult to injury, the company contended with an embarrassing aborted mission to the International Space Station. Ultimately, Boeing summarily fired Muilenburg, but the terms of his possible $60 million golden parachute evoked the anger and outrage of the public and press.