Six on "our" Economy: The Economic Armageddon Ravaging America; The Rich Are Different From You and Me. They Pay Less in Taxes; Huge success in business is largely based on luck; How Foreign Investors Get Green Cards by Investing Millions in the Cha

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Six on "our" Economy: The Economic Armageddon Ravaging America; The Rich Are Different From You and Me. They Pay Less in Taxes; Huge success in business is largely based on luck; How Foreign Investors Get Green Cards by Investing Millions in the Charter School Industry; The Great Affordability Crisis Breaking America; Boeing’s woes highlight trouble with market calling the shots

The Economic Armageddon Ravaging America | Vanity Fair

The Economic Armageddon Ravaging America

The Economic Armageddon Ravaging America Nick Bilton The country’s corporate giants may finally be getting what they deserve.

The Rich Are Different From You and Me. They Pay Less in Taxes.

The Rich Are Different From You and Me. They Pay Less in Taxes.

The Rich Are Different From You and Me. They Pay Less in Taxes. Annie Lowrey Very rich Americans play by different rules than the merely well-off and the working poor. Joe Biden’s tax plan ...

Huge success in business is largely based on luck – new research

Huge success in business is largely based on luck – new research

Huge success in business is largely based on luck – new research Chengwei Liu Ignore business books which promise to reveal the secret formula of success – usually it's down to luck.

How Foreign Investors Get Green Cards by Investing Millions in the Charter School Industry

Craig Harris: How Foreign Investors Get Green Cards by Investing Millions in the Charter School Industry

Craig Harris: How Foreign Investors Get Green Cards by Investing Million... Thanks to a provision in the tax law, called the EB-5 program, wealthy foreign investors can buy green cards by ...

The Great Affordability Crisis Breaking America

"In one of the best decades the American economy has ever recorded, families were bled dry"

The Great Affordability Crisis Breaking America

The Great Affordability Crisis Breaking America Annie Lowrey In one of the best decades the American economy has ever recorded, families were bled dry.

Boeing’s woes highlight trouble with market calling the shots

As Lady Bracknell in Oscar Wilde’s The Importance of Being Earnest said, one “may be regarded as a misfortune”, but two “looks like carelessness”.

Boeing’s former management obfuscated with platitudes like being “deeply saddened” and promised a “software update” even as employees suggested pilots of the foreign airline 

weren’t much good

. The chief executive’s bullying attitude finally led to the board to 

show him the door

 – but he still collected a US$62 million pay-off.

The 737 MAX 8’s flight control system was equipped with a piece of software that pushed the aircraft’s nose downward without instructions from the pilots. Ironically, Boeing used to be seen as producing pilots’ aircraft that use computers while Airbus planes were seen as computers with wings. In the 737 MAX 8, a computer could override pilots without clearly telling them so.

Here was an example of state capture by a company. Boeing’s heavy lobbying presence in Washington over the years led to the US Federal Aviation Administration 

handing 

over

 much of the burden of supervision.

US Transportation Department probes FAA approval of Boeing’s 737 MAX The US Department of Transportation is seeking to determine whether the FAA used appropriate design standards an...

 After all, the 104-year-old Boeing epitomises American business folklore. It is the heaviest component in the Dow Jones Industrial Average Index. It is one of the US’ biggest exporters. The grounding of the aircraft is likely to shave as much as half a per cent in gross domestic product by the first quarter of 2020.

The sheer cost of aircraft development means that both Airbus and Boeing require state intervention. Airbus is a supranational creation and Boeing receives billions of government money through the defence and space budgets.

In the 1960s, Boeing knowingly bet the farm on the 

747 jumbo jet

Boeing’s iconic ‘Queen of the Skies’ turns 50 Boeing’s 747 jumbo jet, an aircraft that democratised global air travel in the 1970s but fell behind modern twin...

 – and what a huge success that was. The company got lazy with the Max. It took a 60-year-old airframe, stuck bigger engines on it and relied on computers to fix any wobbles."

Boeing’s woes highlight trouble with market calling the shots

Boeing’s woes highlight trouble with market calling the shots While the Chinese government’s involvement in companies is well known, American corporations’ influence over the...