Reply to DC Housing Prices drop beginning

Forum Index » Real Estate

Reply to "DC Housing Prices drop beginning "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Boeing has been holding off layoffs since the 2019 fiasco where two international jetliners crashed into the ocean because of their malfeasance and cover-up. Then global airline companies halted or froze orders for the hundred million dollar planes they'd ordered until Boeing came back in and fixed the issue.

The only reason they didn't start layoffs then was because their private airline contracts were offset by all the money they made as a defense contractor.

All that to say - Boeing's layoffs are a longtime coming and have more to do with their travel/corporate partners and deals.[/quote]

I agree with you and that's not only the case for Boeing but many large companies...but how does that change the impact of white collar layoffs which are now happening?

There are hundreds of thousands of well-paid professional workers across the travel, hospitality, defense and consulting sectors who are going to get hammered unless we magically rebound to where we were in January.[/quote]

[i]This is a thread on D.C. housing prices - so the following may seem callous but its an important distinction - 
[/i]
I think the hurt for Boeing at least is being localized. Do I think Boeing's factories and engineering teams in Washington are going through a world of hurt right now? Yes, I do.

But Boeing is losing a boatload of money from the airline industry which could afford to give them a 'grace period' in 2019 because everything was all good.

Now that its 2020 the airlines are circling the drain and calling in every debt they can. Including offloading useless planes they can't fly.

If a quarter to half of your normal profit margins are dying what do you do? You double down on what's STILL profitable.

In this case defense contracts. The U.S. government is upping its expenditure and that money is going straight into the pockets of local DMV contractors.

All that to say -- compartmentalization is a real thing and I'll be surprised to see layoffs at Boeing Intelligence, Analytics, Operations and Software Engineering in THIS area.

Boeing Washington is screwed though. Three of their largest plants are in WA. The plant in New Orleans is exclusively a NASA facility and shouldn't be affected for another fiscal year at minimum. Same with the plant in California which is Air Force owned-and-operated in conjunction with Boeing + Northrup Grunman etc[/quote]

The capacity people have for denial continues to impress me, as usual.[/quote]

You don't have to believe me or even look at the trends yourself.

Listen to the Boeing CEO's talks with his shareholders. The only thing he's highlighting is airline industry contracts. Not defense.

[b]“We expect it will take two to three years for travel to return to 2019 levels and an additional few years beyond that for the industry’s long-term trend growth to return,” he said.

Speaking at the company’s annual meeting of shareholders, which was held virtually because of the pandemic, he added that when the commercial airline market stabilizes, it “will be smaller and our customers’ needs will be different.”[/b]

https://www.seattletimes.com/business/boeing-aerospace/boeing-ceo-air-travel-wont-return-to-2019-level-for-two-to-three-years/[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics