Boeing’s bleak future

Aircraft maker Boeing’s nosedive has accelerated this week owing to emails highlighting its toxic corporate culture. Matthew Partridge reports.

New CEO David Calhoun faces a long slog

Boeing’s new CEO, David Calhoun (pictured), is taking over in the middle of a public-relations nightmare. The US aeroplane maker is struggling to recover from the fallout from two fatal crashes of 737 Max planes that has led to the model’s “worldwide grounding”, says The Guardian. The Max has cost the company $9bn so far, including the cost of compensating airlines for lost flights, and Boeing may now be forced to issue more debt. Calhoun’s task has been complicated by the company’s decision to release “more than 100 pages of damaging internal messages”. These messages disclosed how far the company went “to avoid costly simulator training for the Max”.

What the emails show

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri