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Boeing CEO to discuss company’s future while workers vote on contract
The post Boeing CEO to discuss company’s future while workers vote on contract appeared on BitcoinEthereumNews.com. Ryan Bergh, a machinist at Boeing’s factory in Everett, Washington for 10 years, cheers during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. (Photo by Jason Redmond / AFP) (Photo by JASON REDMOND/AFP via Getty Images) Jason Redmond | AFP | Getty Images Boeing has already braced investors for a rough quarterly report. Now, new CEO Kelly Ortberg has the chance to share his vision for the troubled manufacturer, from a potential strike-ending labor agreement to a slimmed-down future. When he takes the mic for his first earnings call as Boeing’s CEO on Wednesday, more than 32,000 striking machinists will start voting on a new, sweetened contract proposal. Results of the labor vote are expected Wednesday night. Analysts are cautiously optimistic that the new proposal, which requires a simple majority of the vote, could pass, putting an end to the more than five-week work stoppage that has halted most of the company’s production of airplanes and added to its cash burn of about $8 billion in the first half of the year. Boeing last posted an annual profit in 2018. During the call, investors, analysts and the public could get clues from Ortberg about what Boeing will look like in the coming years as well as clearer estimates on the company’s production targets for the next year. Stock Chart IconStock chart icon Boeing and S&P 500 five-year performance. Narrowing businesses Ortberg, a longtime aerospace veteran who previously ran Rockwell Collins, took the reins at Boeing in early August. His tall order was to right the ship. The year began with a terrifying mid-air door-plug blowout from one of Boeing’s new 737 Max planes after it left the factory without key bolts reinstalled. The…
The post Boeing CEO to discuss company’s future while workers vote on contract appeared on BitcoinEthereumNews.com.
Ryan Bergh, a machinist at Boeing’s factory in Everett, Washington for 10 years, cheers during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. (Photo by Jason Redmond / AFP) (Photo by JASON REDMOND/AFP via Getty Images) Jason Redmond | AFP | Getty Images Boeing has already braced investors for a rough quarterly report. Now, new CEO Kelly Ortberg has the chance to share his vision for the troubled manufacturer, from a potential strike-ending labor agreement to a slimmed-down future. When he takes the mic for his first earnings call as Boeing’s CEO on Wednesday, more than 32,000 striking machinists will start voting on a new, sweetened contract proposal. Results of the labor vote are expected Wednesday night. Analysts are cautiously optimistic that the new proposal, which requires a simple majority of the vote, could pass, putting an end to the more than five-week work stoppage that has halted most of the company’s production of airplanes and added to its cash burn of about $8 billion in the first half of the year. Boeing last posted an annual profit in 2018. During the call, investors, analysts and the public could get clues from Ortberg about what Boeing will look like in the coming years as well as clearer estimates on the company’s production targets for the next year. Stock Chart IconStock chart icon Boeing and S&P 500 five-year performance. Narrowing businesses Ortberg, a longtime aerospace veteran who previously ran Rockwell Collins, took the reins at Boeing in early August. His tall order was to right the ship. The year began with a terrifying mid-air door-plug blowout from one of Boeing’s new 737 Max planes after it left the factory without key bolts reinstalled. The…
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