The failing corporation Boeing (BA), buoyed only by the fact that it is a massive gift-giver to Congress and thus has survived off the grift from defense contracts, has been taking a lot of heat for manufacturing shoddy, defective, death machines known as Boeing passenger jets. The straight-out-of-central-casting CEO (white dude, check, bald, check, too cool to wear a tie, check) has finally decided to get the hell out before all of his transgressions are discovered, so that sent the stock zipping higher, celebrating the fact that this Bozo is heading for the Exit sign sometimes before the year is over, whenever he tidies up his golden parachute.
The thing is, the pop this morning doesn’t change a thing. The stock is ultimately going to crater to a fraction of its present value, and all the price action did this morning was try to seal up a major price gap.
Of course, the government isn’t doing a THING about any of the jet mishaps and catastrophes. In the unlikely event that a jet full of proud transexuals plunges from the sky, then and only then will the Biden administration, and Pete B. in particular, sit up and take notice.More By This Author:Reddit IPO: Not A Big Deal
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