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Boeing Subsidies (Export-Import Bank) threatened by Cantor loss?
Posted on 6/13/14 at 11:00 am
Posted on 6/13/14 at 11:00 am
Hmmmmm?
"Boeing, the biggest beneficiary of the U.S. Export-Import Bank, watched its stock drop by the biggest margin in months following House Majority Leader Eric Cantor’s primary election defeat Tuesday.
A federal agency that subsidizes American exports, the Export-Import Bank regularly subsidizes Boeing’s foreign sales. Just last month, Boeing announced the bank would underwrite $10 billion in new business for the aviation giant."
Eric Cantor’s Loss Reverberates at Boeing, Biggest Beneficiary of Export-Import Bank Subsidies
5 Day Stock Chart
"Boeing, the biggest beneficiary of the U.S. Export-Import Bank, watched its stock drop by the biggest margin in months following House Majority Leader Eric Cantor’s primary election defeat Tuesday.
A federal agency that subsidizes American exports, the Export-Import Bank regularly subsidizes Boeing’s foreign sales. Just last month, Boeing announced the bank would underwrite $10 billion in new business for the aviation giant."
Eric Cantor’s Loss Reverberates at Boeing, Biggest Beneficiary of Export-Import Bank Subsidies
5 Day Stock Chart
Posted on 6/13/14 at 11:03 am to tigerpawl
quote:
regularly subsidizes Boeing’s foreign sales
What does this mean exactly?
Is that the only way Boeing can compete with Airbus?
Posted on 6/13/14 at 11:16 am to Cosmo
quote:It means that Boeing can submit big fat over-priced, non-competitive bids to foreign airlines and Boeing gets $$$$ from the Export-Import Bank and applies it to the bid (lowers the bid courtesy our tax dollars but preserving BA's original profit margin), thereby making them competitive and making the sale. Voila...
What does this mean exactly?
Posted on 6/13/14 at 11:36 am to tigerpawl
I'm guessing the EU has a similar deal with Airbus though. Boeing probably couldn't compete otherwise.
Posted on 6/13/14 at 11:46 am to Cosmo
quote:From 2012.... By contrast, the WTO said in December that Airbus received $18 billion in subsidies from European governments.
I'm guessing the EU has a similar deal with Airbus though.
Posted on 6/13/14 at 1:33 pm to tigerpawl
Well there you go. I hate corporate welfare just as much as individual welfare but the Euros cheated first and we have no choice or Boeing goes under.
Posted on 6/13/14 at 3:07 pm to Cosmo
quote:Not so fast, my friend. That's what Boeing may want us to believe. My questions are these:
we have no choice or Boeing goes under.
• Are their operating processes as efficient as possible?
• Have they undertaken every cost cutting measure possible?
• Have they dealt with their unions in the best possible manner or do they just throw money at them?
• Is Boeing acting in good faith here or do they see a free meal on the government's tab.
That's what bugs me about this whole idea....
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