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No CNBC, China Should Not Buy Boeing

No CNBC, China Should Not Buy Boeing
Cockpit of a Boeing 737-800 BCF of Amazon Prime Air at Paris Air Show 2019
Image by Matti Blume

This morning on CNBC’s Squawk Box, during a discussion of the challenges America’s biggest exporter — Boeing — is dealing with as airline traffic grinds to a halt, TV personality Andrew Ross Sorkin suggested that China should bail out the American aircraft manufacturer Boeing.

My jaw hit the floor.

The Leftist business media, which includes Bloomberg where we reported yesterday was pushing the ‘China is better’ narrative, is literally not looking out for American national security. One wonders how they have been incentivized and whose side they are on in this global grudge match economic struggle between Washington and Beijing.

No CNBC, China should not bailout, and therefore own, Boeing.

The massive aircraft manufacturing and defense contractor is said to be lobbying the Federal government for up to $60B in emergency funding for the aviation sector.

As of writing this article Boeing stock looks to be opening with a $100 handle on major exchanges.

With most major airlines seeing a catastrophic drawdown in traffic, analysts are expecting large order cancellations or delays for the Seattle-based company.

Many analysts have questioned Boeing’s use of borrowed cash to buy back stock to pump up its equity price in recent years, now leaving the firm with limited liquidity.

In our opinion, this leadership question can be dealt with down the road. There have been many bad decisions over the last few decades which have left American business, and therefore American citizens, vulnerable to Asian supply chains; these have to be reversed over time.

In the short run, let’s save America’s biggest exporter. That is what the Federal government is for, as it outlines its only direct responsibility outlined in the Constitution — ‘provide for the common defense’.

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3 comments

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Herb March 18, 2020 at 12:39 pm

News Media (D) = enemy of the America working people & the citizens of the US
Democrats & RINOs have been ‘Make Communist China Great Again’ for decades, denying US automakers like GM billions and billions of profits for US workers by closing of US exports while allowing virtual slave labor cheap good just so the politicians could brag about their cheap goods goodies while never taking responsibility for the massive Human Abuse!!
Which results in conditions that spawn deadly viruses & spread ’em, but that’s another story

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InTheKnow March 18, 2020 at 1:52 pm

Unfortunately, if executive management smells a potential profit by selling most of Boeing to China, they will sell the company (and their souls) in a heartbeat! Boeing has been going downhill since 2010 or so when they became obsessed with corporate profit and stock value. As an example of what’s happening inside of Boeing due to all the pay and benefit cuts since then; they are hemorrhaging mid-career engineers, managers and technicians. Additionally, hey get fewer and fewer college interns every year. That oughta tell you something! I’ve never seen a major company get gutted so fast since the pillaging of GE Aircraft Engines in the early 2000s.

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htos1av March 18, 2020 at 2:16 pm

WTF is QWRONG with my gov’t?????
WE NEED to stop start lining progs and rino’s up against the courthouse walls and administering a Glock .40 round to eack left ear of each perp.
I HAVE A SOVEREIGN RIGHT to my existence as written in The Constitution.
Understand, commutards you’re THIS CLOSE ><……..

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