Boeing's biggest blunder? Financial engineering.

单集文稿 ...

• 00:12

  This is the indicator from Planet Money.

• 00:13

  I'm Darian Woods.

• 00:14

  And I'm Weylon Hoang.

• 00:16

  Back in October, Kelly Ortberg presided over his first quarterly earnings release as the new CEO of Boeing.

• 00:23

  He'd been on the job for just over two months, and given all of Boeing's troubles, there really wasn't much of a honeymoon period.

• 00:30

  Yeah, 33,000 Boeing machinists were on strike, and Kelly Ortberg had announced plans to lay off about 10% of employees.

• 00:40

  He told CNBC in an interview that his short term priority was stabilizing the company and looking further ahead.

• 00:47

  And we really need to embark on.

• 00:50

  A culture change that is something more.

• 00:52

  Than just a poster on the wall.

• 00:54

  It's really going to.

• 00:55

  I guess those posters of the cat saying hang in there didn't work.

• 00:59

  If that doesn't work, I don't know what will.

• 01:01

  I know, I know.

• 01:02

  Let's just give up.

• 01:04

  You know, this culture change that Kelly Ortberg is talking about.

• 01:07

  It's an acknowledgment that what's gone wrong at Boeing was something fundamental interwoven in the very nature of the company and its decision making.

• 01:16

  And for many Boeing observers, the mistake was shifting focus from engineering to financial engineering.

• 01:26

  Today on the show, we explain what financial engineering is and why this cultural change at Boeing may have led to the company's current problems.

• 01:41

  Carl Tack is a former corporate lawyer and investment banker.

• 全部文稿