HeraldNet: Bad day for Boeing



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Aerospace Blog

July 1, 2008

Bad day for Boeing

Posted at 12:01 am by Michelle Dunlop

We all hate Mondays. But Boeing had a bad one yesterday.

The company suffered another setback with its already delayed 787. Boeing failed to hit all of its milestones for the month of June for the Dreamliner, missing a shipment on its fourth 787. Boeing didn’t say how the late center fuselage will impact its schedule, particularly its flight test program. While perhaps a minor mishap, the blunder could further erode Wall Street’s confidence.

Investors dealt a harsh blow this week to Boeing employees, who were hoping Monday for a surge in Boeing’s stock price. An employee incentive plan, tied to the company’s stock price on June 30, won’t provide quite the boost Boeing and businesses around Snohomish County had hoped.

As Boeing’s stock dropped more than $10 since the prior Monday, Boeing employees saw their ShareValue Trust stock distribution plunge from around $3,000 to perhaps $1,800 or less. That’s down significantly from a more than $6,000 payout that workers would have received if Boeing shares had traded above $100 Monday – that’s about where Boeing’s stock was last year.

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