Judson Rowlands
Appearances
Global News Podcast
US judge temporarily blocks Trump's freeze on federal funding
The financials are even worse than anyone could have expected. You cannot overstate what an annus horribilis 2024 was for Boeing. You had the door plug that blew off the Alaska Airlines plane. You had the commercial crew spacecraft that were stranded at the International Space Station.
Global News Podcast
US judge temporarily blocks Trump's freeze on federal funding
You had a CEO change, 777X flight testing program ground to a halt, a union strike, which crippled their production plants. And then the capstone was a massive equity sale in October. And what really the upshot of that equity sale was Boeing almost literally ran out of cash in the fourth quarter of last year.
Global News Podcast
US judge temporarily blocks Trump's freeze on federal funding
That's right. And investors are showing a lot more skepticism than they ever would have before COVID. And I would say probably even immediately after COVID. There's just a real lack of belief that even the new CEO can pull off the turnaround that's required.
Global News Podcast
US judge temporarily blocks Trump's freeze on federal funding
I would say this is a story that is 80% about Boeing and 20% about the sector. The sector is, of course, prone to materials and supply chain shortages, driven in part, although not entirely, by the war between Russia and Ukraine and the sanctions on Russia. But even with the supply chain issues, the vast majority of Boeing's problems would still have existed.