Boeing Ruh-Roh

The State of South Carolina – and particularly its embattled Governor, Mark Sanford – is betting the farm on Boeing, the Chicago-based airplane maker that is reportedly considering the Palmetto State for a major jobs announcement.

Here’s the thing, though … if you make airplanes for a living, it really helps if they’re able to fly.

Apparently, none of Boeing’s new planes can do that – well, unless you count the company’s nifty computer animation programs.

From the latest business ticker, courtesy of the WSJ:

Boeing Co. (BA) announced another delay to its new 747-8 Freighter and will take a $1 billion charge as production and design problems persist at its commercial aircraft unit.

The announcement Tuesday did not quell speculation that the U.S. aerospace company may still cancel the loss-making program as it wrestles with delays and production issues with its 787 Dreamliner, which, like the 747-8, has yet to fly.

“The delays will put certain [747] orders into cancellation territory,” said one person familiar with the situation, noting that lack of cargo market demand would likely see some customers seek further delays to their existing orders, as well as compensation.

Boeing Chairman and Chief Executive Jim McNerney is under intense investor scrutiny over the future of the commercial aircraft business, which faces penalties from customers unhappy with the delays.

Great …

But hey, let’s throw millions of dollars in incentives to Boeing anyway, right?  That’s precisely the “soil conditions” approach to economic development that Gov. Sanford has always endorsed, isn’t it?

Sarcasm aside, we’re really not trying to be Dudley Downers here.  In fact, given South Carolina’s vested interest in the success of Boeing, we genuinely hope that the company gets its act together soon.

Or wait … maybe South Carolina is the friggin’ problem …

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