The gloomy headlines for Boeing just keep coming
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 October 2024
⏱️ 8 minutes
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Summary
Today’s quarterly earnings report painted a gloomy picture for the embattled aviation giant — the company reportedly lost $6 billion in the three months ending in September. A look at what this means in the context of the numerous crises the plane-maker has been facing in recent years. Plus, what a recent outbreak of E. coli linked to McDonald’s hamburgers could mean for the fast food giant. And, how a diversity program is looking to bring country music artists belonging to traditionally underrepresented groups into the music industry.
Transcript
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| 0:00.0 | McDonald's has a contamination problem. |
| 0:04.0 | I'm David Brancaccio in New York. |
| 0:07.0 | First Boeing shares are up 7 tenths of 1% at the moment |
| 0:10.0 | following news that it lost six billion dollars in the three months that |
| 0:14.3 | ended in September. That was a dramatic acceleration of the cash it's been burning |
| 0:18.8 | throughout this year as the aircraft and rocket and missile maker faces crisis and crisis after crisis. |
| 0:26.0 | The news this morning comes as its striking machinists vote on a new contract. |
| 0:31.0 | Marketplace's Nova Safo has more. |
| 0:33.0 | According to today's quarterly earnings report, Boeing has amassed nearly $8 billion in losses so far this year. |
| 0:40.0 | In prepared remarks, Boeing CEO Kelly Ortberg said the company is at a crossroads and that it will take time to write the ship. |
| 0:47.0 | He said he's hopeful that striking workers will ratify a new labor agreement offering pay increases of 35%, workers rejected a previous offer. |
| 0:55.8 | The company is grappling with serious safety and quality lapses at its commercial airplanes |
| 1:00.1 | division and long production delays on multiple models. |
| 1:03.0 | Its order backlog now stretches to more than 5,400 commercial planes |
| 1:08.0 | and has a value of about half a trillion dollars. |
| 1:11.0 | In the short term, passengers might pay the price through higher fares, as some carriers have |
| 1:16.1 | had to curtail expansion plans because of the lack of new airplanes. |
| 1:20.5 | Ortberg said the company must become more focused and must reduce quote |
| 1:24.5 | non-essential activity Boeing has announced layoffs totaling 10% of its global |
| 1:29.1 | workforce or 17,000 people. I'm Novasafo for Marketplace. |
| 1:34.0 | Nearly 50 people are listed as getting sick and one person has died |
| 1:38.0 | from an E. coli outbreak linked to McDonald's hamburgers. |
... |
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