Would Boeing murder a whistleblower? Before this month I'd have said it depends. I didn't think Boeing would kill a middle manager who never worked on the 737 Max & left in 2017.
"I don't think one can be cynical enough when it comes to these guys," said a longtime exec.
He told me to open Maps & find the airport 180 miles east of the 737 factory where Boeing stores "finished" jets that are too fucked to deliver. "The engines alone are worth billions."
Airlines won't accept the 737s until Boeing fixes their problems. As the dead whistleblower's lawsuit explains, jets coming off Boeing assembly lines have a lot
Bosses pressured workers to push 787s out with 100s of dangerous defects even after the FAA grounded 787s in 2013
After the 737 Max crashes, the FAA realized Swampy's 787 plant in South Carolina was perhaps even more dysfunctional than Renton. Boeing halted deliveries in 2020 for nearly 2 years after a QA found approx 40 gazillion flaws. Aviation Week heroically mapped the most significant:
So no shit: building airplanes is complicated. I feel dirty even tweeting about it, it's so complex. But Boeing's problem is not: it's the same jargon-infatuated dumbshit MBAs that ru(i)n everything else in this country, like former CEO Jim McNerney, who paid himself $250 million
Like most vain, narcissistic MBAs, McNerney could not stand people who didn't pretend to not be smarter than him. He set about purging them all, on grounds of either being "assholes" or because he believed "experience" was "overvalued."
Newsflash: experience is undervalued. A Boeing mgr actually proved this in a 67-page 1997 analysis of unprofitable programs. As it turned out, the ability of a workforce to move efficiently enough to profitably build planes was almost entirely a product of the worker seniority
But Boeing didn't listen. Instead Boeing moved its 787 plant to South Carolina, where they hired fast food workers to build 787s & there were no experienced aerospace workers whatsoever to challenge bosses like the one who told Swampy that "knowledge" was holding him back.
I talked to forensic pathologist @BobPfalzgraf about Swampy's mysterious "suicide." He sympathized with Swampy and his coroner, saying medical examiners are under tremendous pressure not to rule police custody deaths "homicides" & outsource suicide cases to pathology assistants
@BobPfalzgraf I called FBI criminal profiler James Fitzgerald. "If the goal was to stop him from testifying, it sounds like they failed. But sometimes the goal is to send a message to anyone else who might be thinking of doing what he did." He wanted to see the note jamesrfitzgerald.com/category/podca…
"I would hope the police are interviewing [Swampy's former boss] right now," added @BobPfalzgraf
As @matthewstoller pointed out here, if there's one thing we've learned about Boeing, it's that it "does not deserve the benefit of the doubt"
Swampy's coworkers don't seem to think so. He was "high on life", one pointed out.
Another to whom I spoke on the phone for several hours repeatedly told me they weren't suicidal, and that Swampy was not the first "outspoken" Boeing employee to die mysteriously in recent years
The numbers tell the story of a company that has done everything it can to alienate loyal veterans. The avg 737 worker has been there 5 years. The % of workers with 5 years or less has doubled. 100s of long-timers with an average 23 years at Boeing retired early in 2022.
Aaaand, the guy every single respectable media outlet has nominated to replace Boeing's current CEO sociopath David Calhoun is...
Larry Culp, a Harvard Business School alumnus who currently helms fucking GE! Because the kind of inimitable genius required to "sell off assets & pay down debt" is obviously what this moment calls for
at any rate, if you want to know what happens when the guy who used to run the (improbably not defunct) nielsen television ratings company gets appointed to run the company that builds fucking airplanes, the wholly predictable (except for the possible assassintion part) story is here prospect.org/infrastructure…
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holy shit: a childhood friend of dead Boeing whistleblower Swampy Barnett said he told her straight up: "If anything happens to me, it's not suicide."
This echoes what his lawyer & brother told me for my piece yesterday.
I was shocked: Boeing has dozens of whistleblowers; whistleblowing is thankless/isolating/self-destructive stuff; Swampy didn't even work on the 737 Max. But... prospect.org/justice/2024-0…
Swampy was found with his finger on the trigger of a silver pistol. A physician who is a regular contributor to the indespensable site #NakedCapitalism says this is a major red flag
This shocks even me: Rite Aid just clawed back already-paid severance payments from the bank accounts of thousands of laid-off workers, literally the same day Bloomberg reported its CEO is slated to receive $20 MILLION when the co emerges from Chap 11.
Naturally, Kirkland & Ellis & Alvarez & Marsal made out okay: they've billed the bankrupt dumpster fire pharmacy chain $50 million so far news.bloomberglaw.com/antitrust/rite…
I wrote the whole pathetic story of this Hunter Biden of American companies last fall. (Did you know Rite-Aid used to own the biggest PBM? They sold it for a half billion dollar loss, and it's all been downhill from there.) prospect.org/power/2023-11-…
The billionaire class is clamping down on "antisemitism"
They say it runs so rampant in elite schools they must BDS the Ivy League
UPenn grad Marc Rowan is leading the crusade. In an open letter to rich alums, he invoked "morals"/"morality" 10 times prospect.org/power/2023-10-…
But Marc Rowan is CEO & cofounder of one of the world's most outlandishly immoral institutions, Apollo Global Management, an industrial-scale looter that exploits access to cheap $$ to seize control of rural hospitals & factories, mines & mills and & supermarkets, & suck them dry
In June I reviewed a book about private equity largely focused on Apollo. The title is "These Are the Plunderers." Turns out this country has a pretty pathetic history of bringing elite plunderers to justice. prospect.org/culture/books/…
last week longtime Amazon #2 Dave Clark was publicly fired from his new job.
Clark is 1 of the great sociopaths of postmodern commerce, a productivity algorithm in human form
As big an asshole as Jack Welch, minus the charm.
Here's Dave in happier times prospect.org/power/2023-09-…
There is perhaps no purer distillation than Dave Clark of the harms unregulated monopolies perpetrate upon the economy and society.
As head of Amazon logistics, he spent $61 billion in a single year on planes, ships & trucks, building out a logistics network no one could rival
The cash to finance Amazon's logistics empire comes from the small businesses sell most of the things you buy on its platform. In 2021 the company took in $121 BILLION in fee income from third party sellers. Small businesses now fork over more than HALF their revenue to Amazon.
Earlier this month an Illinois physician learned her ER as getting a new boss. He called himself "Doctor George." And he was *deeply* unhappy with her failure to do Medicare fraud.
American Physician Partners was like 100 other PE medical rollups. It used debt to swallow small practices in a specialty, emergency med, promising investors it would make the $ back by billing more & paying docs less, thanks to an "oversupply" of ER docs levernews.com/private-equity…
APP's founders had fancy credentials. Mark Green is a special ops flight surgeon & GOP congressman, now 1 of the Hill's most prolific stock traders. John Rutledge rolled up 2 rural hospital chains that reaped $$$$ returns for GTCR & Warburg Pincus.
But...
Days like this it is hard not to think of the little town in the Missouri panhandle with America's dirtiest air. In New Madrid, the median AQI is 131, thanks to an aluminum smelter where some smokestacks are just 50 feet high...
I don't know why the smokestacks are so low. The plant was built in the 1970s in "compliance" with the Clean Air Act.
By locating in a remote town with unusually *clean* air, owners were allowed to emit substantially *more* pollution than the industry standard.
Apollo bought the plant's owner Noranda Aluminum in April 2007, with $214 million cash & $900m debt
2 months later Apollo floated $222m 12-13% Noranda debt & paid itself a $216 million "special dividend."
In 2008 Noranda paid Apollo another $102 million dividend