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Boeing’s Bad Day




Remember when Boeing threatened to cut jobs if the federal government didn’t keep doling out taxpayer-subsidized goodies from the Washington, D.C. favor factory?

We do …

Well, squishy politicians bowed to Boeing’s demand … but the aircraft manufacturer is cutting jobs anyway.

How many jobs? According to reporter Bhanu Pratap of Reuters, the Chicago-based firm “will eliminate about 4,000 jobs in its commercial airplanes division by the middle of this year and another roughly 550 jobs in a division that conducts flight and lab tests.”

The news comes as officials in Russia are moving to revoke flying certificates for Boeing’s 737 passenger planes.

All in all, a terrible day for the crony capitalist conglomerate.

South Carolina has bet big on Boeing – giving the company $1 billion and counting in taxpayer incentives in exchange for its decision to locate a manufacturing facility in North Charleston, S.C.  It’s not clear yet how these mass layoffs will impact that facility, which builds the company’s next-generation 787 “Dreamliners.”

Unlike the rest of South Carolina’s political and media class, this website does not reside in Boeing’s back pocket. We’ve got no particular beef with the company, we just don’t believe your interests as American taxpayers are served by us kissing up to them like everybody else does.  Accordingly, FITS has been unafraid to call out Boeing’s reliance on government-subsidized incentives – including the U.S. Export-Import Bank (a.k.a. “Boeing’s Bank“) as well as the command economy bribes the company has received from South Carolina taxpayers.

Over the years we’ve been able to get inside Boeing’s North Charleston, S.C. facility to bring readers the real scoop on serious production problems and efforts by the International Association of Machinists and Aerospace Workers (IAM) to unionize the plant.

Unfamiliar with the IAM?  Ask S.C. governor Nikki Haley, who is ostensibly “anti-union.”  She’ll tell you all about them.