October 28, 2024 • 7 mins
Can Boeing Be Saved from Bankruptcy??? www.watchdogonwallstreet.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski Boeing.
Speaker 2 (00:16):
Yeah, you know another story on Boeing. We did some
last week. Wall Street Journal has passed basically cribbon, echoing
the statements that we've been making about this company now
for she's over over a decade. What went so wrong
with Boeing? But anyway, I'll tell you what Boeing needs.
I'm fixed Boeing. Boeing needs Carl icon Elon Musk or
(00:41):
the bobs. You're familiar with the bobs. You gotta have
to watch office Space. What exactly do you say you
do here?
Speaker 3 (00:49):
Anyway?
Speaker 2 (00:50):
Story today in the Wall Street Journal talking about the
many potential villains that have done in Boeing. A cult
sure that put financial engineering before aerospace engineering?
Speaker 3 (01:05):
No way? Well, well you mean to.
Speaker 2 (01:08):
Tell me, You mean to tell me the Ivy League, McKinsey,
NBA types.
Speaker 3 (01:14):
What they're wrecking a company?
Speaker 2 (01:17):
No say it in so it's an aerospace company anyway,
an outsourcing strategy that shifted work to lower cost factories
or suppliers. Again, you make airplanes, you make rockets. You're
(01:39):
a defense contractor erkay a pursuit of production goals over
safety goals. You make commercial airplanes and distant leadership removed
from employees. You had the last CEO worked out of
his house in New Hampshire. I shit you not. Whatever
(02:02):
the cause, Boeing has reached a point where people are
genuinely asking could Boeing fail? And would an endgame look
like in a scenario involving a national icon.
Speaker 3 (02:13):
Again, they always played these Boways miss stories.
Speaker 2 (02:15):
Last week we talked about Greg ap and the Wall
Street Journal.
Speaker 3 (02:18):
Oh my god, what what it means for national security? Nonsense? Nonsense?
Speaker 2 (02:23):
Why do I mention Carl Icon if you haven't seen it.
It is a it's a great story, It really is.
Carl Icon. I don't know what year this was, was
being interviewed at some CNBC conference or some I don't know,
some business conference by Andrew Ross Sorkin, and he was
recanting his story back in his younger years.
Speaker 3 (02:46):
Where he bought a company that he still owns.
Speaker 2 (02:48):
It's called ACF Industries and ACF Industries makes railcars, and
he bought the company and he saw all the assets
that he had, and you know, he thought he bought
it on the chief, but he still couldn't figure out
why the company wasn't able to make money. And they
had this this sales office, rental, all this stuff in
(03:12):
New York City, third Avenue. Who's telling the story. It's
on Third Avenue, New York City, twelve floors of the
building and had So he goes in there. He goes
in there and he's trying to after he bought the companies,
trying to determine what exactly is going on in his building,
what people do when he goes upstairs, goes to one
floor the other. He tells the story in a really
(03:32):
neat way. Can't figure it out. Comes back, still can't
figure it out. Wants to find there's this guy out
of Saint Louis that kind of like there's the main guy,
not the CEO, but the guy kind of was, you know,
basically the operator for the company handled everything. Goes out
and visits him and basically tells him says, hey, you know, listen,
(03:56):
you don't need those people in New York. Still icons
has goes back spends two hundred and fifty thousand dollars
a bunch of college types, professors from Columbia to come
in and they provide for him in a few weeks
this big huge book.
Speaker 3 (04:14):
He makes fun of it.
Speaker 2 (04:14):
They hand him this big, huge book with all these
charts and graphs and what all these people and the
twelve floors are doing.
Speaker 3 (04:20):
And he tells it right to me.
Speaker 2 (04:21):
He said, I'm not going to read this damn thing
you just gave me.
Speaker 3 (04:24):
I said, explain to me. I said, I'm a numbers guy.
You know I did well in school.
Speaker 2 (04:28):
Explain it to me. Make it pure and simple. And
they broke it down. I said, listen, you were straight
with us. We're going to be straight with you. We
don't know what they do.
Speaker 3 (04:37):
And in the end.
Speaker 2 (04:40):
He fired fired every single person, twelve floors of the building.
No service interruptions, no problems with anything. Company worked just fine.
Then turned around and I guess sold the lease for
ten million dollars.
Speaker 3 (04:55):
On top of that. Elon must have the same thing
with Twitter. Same thing with Twitter. Came in there like
you're gone, You're gone, You're gone, You're going, You're gone.
Speaker 2 (05:05):
I always say that scene too, when the movie the
television show Entourage, when Ari takes over the the agency,
the talent agency that he got the represent are agents,
and he goes around with a paintball gun just shooting
people that are fired.
Speaker 3 (05:19):
You're gone, You're gone, You're gone. That's what you need.
Speaker 2 (05:22):
The new CEO, I mean again, he's trying, he's being honest.
He said, the trust in our company has eroded. It's
going to take time to return Boeing to its former legacy.
You know why it's gonna take a lot of time
is because unfortunately the CEO, I think he's afraid. It's
afraid all the problems that Boeing had, it should be
(05:45):
a mass firing, should take place. Mass fire pretty much
picture the New York Jets at the end of the season.
Everybody must go, all the ex government types, all the people.
But again, this is one of these and again it's
a too big to fail company. They actually even mention
(06:06):
that in this Wall Street Journal article today, something we've
been saying for a long time. You can't fix Boweing.
You can't make it because it's too big to fail.
The people that you have working there are connected to government.
There are a lot of ex Pentagon types that are
there and they make a ton of money. Carl Icon actually,
and it was interesting towards the interview he talks about
(06:27):
that's the problem in America. Today's too many executives, too
many mid level managers that are there that are making
way too much money and don't care. Don't care, and
this has always been a problem. This company's getting fat
and happy and the c suite. I'd like to see
Boeing turnaround. We'd like to see it not failed. But
(06:51):
again I I thoroughly encourage some of the things that
this guy's saying. He's saying the right things, but your
actions are going to speak a little bit louder. Should
have stepped in there, and it should have been you're gone,
You're gone, You're gone, you're gone, gone. You people are
a part of the problem, and keep all the NBA
(07:12):
McKinsey consultant types away from that company. Watchdogonwallstreet dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski Boeing.
Speaker 2 (00:16):
Yeah, you know another story on Boeing. We did some
last week. Wall Street Journal has passed basically cribbon, echoing
the statements that we've been making about this company now
for she's over over a decade. What went so wrong
with Boeing? But anyway, I'll tell you what Boeing needs.
I'm fixed Boeing. Boeing needs Carl icon Elon Musk or
(00:41):
the bobs. You're familiar with the bobs. You gotta have
to watch office Space. What exactly do you say you
do here?
Speaker 3 (00:49):
Anyway?
Speaker 2 (00:50):
Story today in the Wall Street Journal talking about the
many potential villains that have done in Boeing. A cult
sure that put financial engineering before aerospace engineering?
Speaker 3 (01:05):
No way? Well, well you mean to.
Speaker 2 (01:08):
Tell me, You mean to tell me the Ivy League, McKinsey,
NBA types.
Speaker 3 (01:14):
What they're wrecking a company?
Speaker 2 (01:17):
No say it in so it's an aerospace company anyway,
an outsourcing strategy that shifted work to lower cost factories
or suppliers. Again, you make airplanes, you make rockets. You're
(01:39):
a defense contractor erkay a pursuit of production goals over
safety goals. You make commercial airplanes and distant leadership removed
from employees. You had the last CEO worked out of
his house in New Hampshire. I shit you not. Whatever
(02:02):
the cause, Boeing has reached a point where people are
genuinely asking could Boeing fail? And would an endgame look
like in a scenario involving a national icon.
Speaker 3 (02:13):
Again, they always played these Boways miss stories.
Speaker 2 (02:15):
Last week we talked about Greg ap and the Wall
Street Journal.
Speaker 3 (02:18):
Oh my god, what what it means for national security? Nonsense? Nonsense?
Speaker 2 (02:23):
Why do I mention Carl Icon if you haven't seen it.
It is a it's a great story, It really is.
Carl Icon. I don't know what year this was, was
being interviewed at some CNBC conference or some I don't know,
some business conference by Andrew Ross Sorkin, and he was
recanting his story back in his younger years.
Speaker 3 (02:46):
Where he bought a company that he still owns.
Speaker 2 (02:48):
It's called ACF Industries and ACF Industries makes railcars, and
he bought the company and he saw all the assets
that he had, and you know, he thought he bought
it on the chief, but he still couldn't figure out
why the company wasn't able to make money. And they
had this this sales office, rental, all this stuff in
(03:12):
New York City, third Avenue. Who's telling the story. It's
on Third Avenue, New York City, twelve floors of the
building and had So he goes in there. He goes
in there and he's trying to after he bought the companies,
trying to determine what exactly is going on in his building,
what people do when he goes upstairs, goes to one
floor the other. He tells the story in a really
(03:32):
neat way. Can't figure it out. Comes back, still can't
figure it out. Wants to find there's this guy out
of Saint Louis that kind of like there's the main guy,
not the CEO, but the guy kind of was, you know,
basically the operator for the company handled everything. Goes out
and visits him and basically tells him says, hey, you know, listen,
(03:56):
you don't need those people in New York. Still icons
has goes back spends two hundred and fifty thousand dollars
a bunch of college types, professors from Columbia to come
in and they provide for him in a few weeks
this big huge book.
Speaker 3 (04:14):
He makes fun of it.
Speaker 2 (04:14):
They hand him this big, huge book with all these
charts and graphs and what all these people and the
twelve floors are doing.
Speaker 3 (04:20):
And he tells it right to me.
Speaker 2 (04:21):
He said, I'm not going to read this damn thing
you just gave me.
Speaker 3 (04:24):
I said, explain to me. I said, I'm a numbers guy.
You know I did well in school.
Speaker 2 (04:28):
Explain it to me. Make it pure and simple. And
they broke it down. I said, listen, you were straight
with us. We're going to be straight with you. We
don't know what they do.
Speaker 3 (04:37):
And in the end.
Speaker 2 (04:40):
He fired fired every single person, twelve floors of the building.
No service interruptions, no problems with anything. Company worked just fine.
Then turned around and I guess sold the lease for
ten million dollars.
Speaker 3 (04:55):
On top of that. Elon must have the same thing
with Twitter. Same thing with Twitter. Came in there like
you're gone, You're gone, You're gone, You're going, You're gone.
Speaker 2 (05:05):
I always say that scene too, when the movie the
television show Entourage, when Ari takes over the the agency,
the talent agency that he got the represent are agents,
and he goes around with a paintball gun just shooting
people that are fired.
Speaker 3 (05:19):
You're gone, You're gone, You're gone. That's what you need.
Speaker 2 (05:22):
The new CEO, I mean again, he's trying, he's being honest.
He said, the trust in our company has eroded. It's
going to take time to return Boeing to its former legacy.
You know why it's gonna take a lot of time
is because unfortunately the CEO, I think he's afraid. It's
afraid all the problems that Boeing had, it should be
(05:45):
a mass firing, should take place. Mass fire pretty much
picture the New York Jets at the end of the season.
Everybody must go, all the ex government types, all the people.
But again, this is one of these and again it's
a too big to fail company. They actually even mention
(06:06):
that in this Wall Street Journal article today, something we've
been saying for a long time. You can't fix Boweing.
You can't make it because it's too big to fail.
The people that you have working there are connected to government.
There are a lot of ex Pentagon types that are
there and they make a ton of money. Carl Icon actually,
and it was interesting towards the interview he talks about
(06:27):
that's the problem in America. Today's too many executives, too
many mid level managers that are there that are making
way too much money and don't care. Don't care, and
this has always been a problem. This company's getting fat
and happy and the c suite. I'd like to see
Boeing turnaround. We'd like to see it not failed. But
(06:51):
again I I thoroughly encourage some of the things that
this guy's saying. He's saying the right things, but your
actions are going to speak a little bit louder. Should
have stepped in there, and it should have been you're gone,
You're gone, You're gone, you're gone, gone. You people are
a part of the problem, and keep all the NBA
(07:12):
McKinsey consultant types away from that company. Watchdogonwallstreet dot Com
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!