Posts Tagged ‘Boeing’

Defense Contractor Employee Chimes in on Boeing and the Need for C-17s

Defense Contractor Employee Chimes in on Boeing and the Need for C-17s

Courtesy of Mish 

Boeing C-17 Assembly Workers Go On Strike

In response to Inside the Self-Destructive Minds of a Group of Idiots, an article about Boeing C-17s and failed union negotiations, I received an email from "TT" a defense contractor employee who has some thoughts to share.

"TT" Writes

Mish,

You are so right on the Boeing strike. What makes it even more stupid is that the same union pulled the same stunt in Washington a couple years ago. We now have a brand new 787 plant under construction here in non union Charleston, SC because of it.

These guys just don’t have a clue. I was at Boeing in Seattle when the last strike took place, and I can tell you that a lot of the rank and file knew better, but they had to follow the union’s marching orders.

As for Gate’s comment about airlift, I’d like to see him come the Charleston Air Force base and say it, while the US government leased Russian AN-124s taxi past loaded with equipment headed for the middle east.

The truth is that we don’t have enough airlift capacity or tanker capacity, or fighter capacity… to be the world’s big brother.

The better solution is to quit being the self appointed nanny to the world.

And yes, I work for a defense contractor.

Best regards,

"TT"

Thanks "TT".

Yes, it is perfectly clear the US absolutely needs to "quit being the self appointed nanny to the world" even as the union apologists cry about the loss of jobs. The US simply cannot afford to be the world’s policeman.

I would cut military spending in half, and call that "a start". I am sick and tired of blowing up the world because it supposedly creates jobs. Moreover, those jobs are an illusion in the first place, as the rest of the economy suffers mightily.

To pay for military spending, taxes have to go up or the dollar has to sink.

That’s a piss poor tradeoff for everyone not in on the scam, especially the poor soldiers who needlessly get their heads blown off so defense contractor CEOs can make hundreds of millions of dollars, some of which are used to buy votes of war-mongers in Congress wanting still more guns and ammo, every day of the year.

Enough is enough.

Mike "Mish" Shedlock


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Strained U.S.-Beijing Ties Could Cripple Boeing’s China Strategy

Strained U.S.-Beijing Ties Could Cripple Boeing’s China Strategy 

Boeing 747 at PSN SM terminal, elevated view

Courtesy of PETER COHAN at Daily Finance 

You might think that with China owning at least $1.3 trillion of the U.S.’s $12 trillion in national debt that Washington would tread carefully when making moves that annoy Beijing. That’s hardly the case. Cases in point: The U.S. is selling $6.4 billion in military equipment to Taiwan, and President Obama is planning a meeting with the Dalai Lama.

These moves upset China, and it’s threatening to retaliate — in part by possibly sanctioning companies like Boeing (BA) — which is selling some of those arms to Taiwan, according to China Daily. The details of such sanctions have yet to be announced — but China’s threat could prompt Boeing executives to fly to Washington and Beijing to try calming things down.

Boeing needs China badly. According to China Daily, the planemaker sells over half the aircraft that Chinese airlines fly. And Boeing is purchasing hundreds of millions worth of parts from China for its new aircraft, the 787 Dreamliner. Moreover, over a third of Boeing’s total aircraft parts come from China. As I’ve posted, some observers think Boeing CEO Jim McNerney would even like to move Boeing to China to save money.

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Boeing, Airline Industry Face Huge Problems

Boeing, Airline Industry Face Huge Problems

boeing airplaneCourtesy of Mish

In a rare display of union sanity, Boeing Co. employees vote to disband union.

Boeing Co. workers in North Charleston voted overwhelmingly to disband their union in a move that could give the region an edge in landing an aircraft plant the company is looking to build.

Of the 267 ballots cast, 199 were in favor of decertifying the election that made them members of the International Association of Machinists. The company was pleased; the union was disappointed.

The local plant makes rear fuselage sections for Boeing’s 787, a new fast-selling lightweight jet that has been delayed by snags with suppliers and an eight-week strike last year by the IAM.

Boeing has said it would consider North Charleston and its manufacturing hub outside Seattle, among other sites, for a new 787 assembly plant. A decision is expected by the end of the year.

Airliner Production Faces Sharp Axe

Even with the action by the Boeing union to disband, airlines and airline production are both in trouble. Please consider Airliner production faces sharp axe.

Investment bank UBS predicts there will be a surplus of 1,400 airliners at the end of this year, necessitating production cuts at both Airbus and Boeing. The bank made its forecast in a detailed report at the end of August on Airbus parent EADS, warning that the "significantly reduced production rates" required to address overcapacity were "currently not being planned for". It expects Airbus production rates to fall by about 40% by 2012.

Separately, lessor AWAS has told Flightglobal’s financial news service Commercial Aviation Online that, according to its own internal analysis, there will be an aircraft surplus of about 1,000 aircraft by the end of this year and about 1,600 by the end of 2010.

Passenger traffic would have to grow at the rate of an estimated 14% to avoid production cuts, way beyond the 4-5% growth projected. UBS concludes that there would have to be 3,600 aircraft retirements to avoid cutting production, another unrealistic possibility.

Airlines Face $11 Billion in Losses

Highlighting the woes of the travel industry, the Wall Street Journal reports Airlines Face $11 Billion in Losses.

The global airline industry faces $11 billion of losses this year, greater than previously forecast, as business travel remains in a slump and fuel prices are rising,


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Phil's Favorites

Big Tech's rejection of Parler shuts down a site favored by Trump supporters - and used by participants in the US Capitol insurrection

 

Big Tech's rejection of Parler shuts down a site favored by Trump supporters – and used by participants in the US Capitol insurrection

Parler is similar to Twitter but doesn’t control or discourage hate speech or calls to violence. OLIVIER DOULIERY/AFP via Getty Image

Courtesy of Alex Newhouse, Middlebury Institute of International Studies

Early in the morning of Jan. 11, the social media platform Parler went offline after Amazon ...



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Zero Hedge

Not As Green As You Think - Global EV Push Sparks Cobalt Chaos

Courtesy of ZeroHedge View original post here.

Global cobalt prices per metric ton are up more than 20% since the beginning of this year as increasing electric vehicle demand has strained global supply chains. 

WSJ spoke with auto and battery experts about cobalt, a metal found in lithium-ion batteries. Besides EVs, the blue metal is found in virtually every consumer electro...



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Politics

Far-right groups move to messaging apps as tech companies crack down on extremist social media

 

Far-right groups move to messaging apps as tech companies crack down on extremist social media

Far-right groups like the Proud Boys, seen here marching in Washington, D.C., on Dec. 12, are increasingly organizing their activities on messaging services like Telegram. Stephanie Keith/Getty Images

Courtesy of Kevin GrishamCalifornia State University San Bernardino

Right-wing extremists called for open revolt against the U.S. government ...



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Kimble Charting Solutions

Bitcoin Parabolic Rally Reversal Faces Big Support Test!

Courtesy of Chris Kimble

One of the biggest breakouts of 2020 came by way of Bitcoin. And it was epic.

The coronavirus crash saw the cryptocurrency retest its 2018 lows before rocketing higher in parabolic fashion.

Did Bitcoin Peak? What’s Next?

Today we examine a “weekly” chart of Bitcoin, highlighting its parabolic rally… and recent reversal lower.

The rally in Bitcoin surged all the way to the 361% Fibonacci extension level at (1) before creating the largest bearish reversal in years.

In just a few weeks time, Bitcoin is testing its 261% Fibonacci level near 31,000 at (2). This is a big test of support for the cryptocurrency. A “weekl...



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ValueWalk

Hybrid Electric Vehicles: A Stay of Execution for NiMH Batteries

By Jacob Wolinsky. Originally published at ValueWalk.

Hybrid Electric Vehicles: A Stay of Execution for NiMH Batteries, Explores IDTechEx

Q4 2020 hedge fund letters, conferences and more

NiMH Batteries Are Still Commonly Used

When we talk about battery-electric vehicles, the lithium-ion battery is dominant; however, for full hybrid electric vehicles (those that have electric-only modes but do not plug-in), NiMH batteries are still the most common battery on the road. With the growing market for hybrid electric vehicles (HEVs), will this drive further demand for NiMH batteries and stop them from being eliminated from the automotive market?...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 11 July 2020, 05:26:16 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: This is lack of liquidity means support is likely to break if it is tested hard!



Date Found: Saturday, 11 July 2020, 09:51:58 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: Nasdaq losing momentum.



Da...

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Biotech/COVID-19

The simple reason West Virginia leads the nation in vaccinating nursing home residents

 

The simple reason West Virginia leads the nation in vaccinating nursing home residents

By mid-January, only about a quarter of the COVID-19 vaccines distributed for U.S. nursing homes through the federal program had reached people’s arms. Paul Bersebach/MediaNews Group/Orange County Register via Getty Images

Courtesy of Tinglong Dai, Johns Hopkins University School of Nursing

The urgency of vaccinating nursing home residents is evident in the numbers. The COVID-19 pandemic has claimed the lives of mo...



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Mapping The Market

The Countries With The Most COVID-19 Cases

 

The Countries With The Most COVID-19 Cases

By Martin Armstrong, Statista, Jan 12, 2021

This regularly updated infographic keeps track of the countries with the most confirmed Covid-19 cases. The United States is still at the top of the list, with a total now exceeding the 22 million mark, according to Johns Hopkins University figures. The total global figure is now over 85 million, while there have been more than 1.9 million deaths.

You will find more infographics at ...



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Digital Currencies

Bitcoin: why the price has exploded - and where it goes from here

 

Bitcoin: why the price has exploded – and where it goes from here

B is for blast-off (but also bubble). 3DJustincase

Courtesy of Andrew Urquhart, University of Reading

Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary, including US-China tensions, Brexit and, of course, an international pandemic. From a year-low on the daily charts of US$4,748 (£3,490) in the middle of March as pandemic fears took hold, bitcoin rose to ju...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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