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47% of Investors Aren't Concerned About Boeing's Dangerous Dreamliner
Boeing (NYSE: BA ) cannot seem to catch a break. The troubled manufacturer has been struggling to produce the 787 Dreamliner, an over-hyped aircraft that retails for $193.5 million . Airlines from all over the world have been waiting to get their hands on this promising aircraft. However, the 787 Dreamliner has had nothing but problems. This week the aircraft ran into some trouble after a number of problems began to surface, including a fuel leak and a braking system error.
Needless to say, these are not the kinds of problems that prospective passengers want to encounter while traveling at 30,000 feet.
"For years, Boeing used to have a reputation of building absolute rock solid aircraft that would last for years with minimum maintenance - the Toyota (NYSE: TM ) of airplanes," one reader, 1AmericanFirst, wrote on CNNMoney . "But now the MBAs have taken over the company and are focused on cutting costs, busting unions and using the cheapest parts and labor possible so the execs can get oversized bonuses. The result? 787 are now flying coffins. Fly them at your own risk; I for one will not set a foot in them."
"Our country really can no longer produce quality products," Stan Jones added. "Companies being run by MBA bean counters...it's a race to the bottom."
Gilsharkey disagreed, writing, "Boeing uses very sophisticated technology from American, European and Asian companies, but they still manufacture in the US. Well, and they've had to outsource a lot of their labor in order to compete with Airbus, and it seems to be working, and Boeing is grabbing market share from that European company. See, I've been long on Boeing for years, and this small glitch in their lithium batteries is something they'll work out and improve on. That 787 Dreamliner is a game changer sure as the day is long. You buy BA stock now and hold it for twenty years, then tell me this company isn't kicking tail."
Chris Feilbach blames the U.S. government for some of Boeing's problems. "Maybe next time our federal government won't sue them for attempting to open a new plant in the U.S. with non-union workers," he wrote. "Boeing wanted to open another plant to produce more planes (and thus create more jobs) and all they got was a lawsuit."
A poll on Yahoo Finance (NASDAQ: YHOO ) paints a different picture. The website asked, "How concerned are you to fly on Boeing's 787 Dreamliner after all the problems it's had this week?"Very concerned (20,282 votes) -- 29 percent Somewhat concerned (17,179 votes) -- 24 percent Not concerned (33,188 votes) -- 47 percent
Follow me @LouisBedigianBZ(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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