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Boeing hit with another KC-46 cost overrun, this time worth $329M

Boeing on Wednesday disclosed more bad news on the KC-46 program: The company will have to eat another $329 million as a result of cost overruns. Under the terms of its fixed-price deal with the U.S. Air Force, Boeing must pay out of pocket for any expenses over the $4.9 billion contract value ( Daha Fazlası...

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Randall Kimm 7
Who's going to pick-up the receipt. After all, the government will poney-up the cash.
Is this a subsidy or unplanned expense. A lot of that going around these days.
linbb -7
Not like the prop up that C series got from there government.
Highflyer1950 6
Maybe you can do more reading, like this document:
"In both 2008 and 2009, Boeing was second on the list of Top 100 US Federal Contractors, with contracts totalling $22 billion and $23 billion respectively.[114][115] Since 1995, the company has agreed to pay $1.6 billion to settle 39 instances of misconduct, including $615 million in 2006 in relation to illegal hiring of government officials and improper use of proprietary information.[116][117]

Boeing is the top receiver of subsidies (dubbed "corporate welfare") in the U.S. based on 2014 data, with a total of $13.18 billion.[118] It also secured the highest ever tax breaks at the state level in 2013.[119]

Boeing's 2010 lobbying expenditure by the third quarter was $13.2 million (2009 total: $16.9 million).[120][121] In the 2008 presidential election, Barack Obama "was by far the biggest recipient of campaign contributions from Boeing employees and executives, hauling in $197,000 – five times as much as John McCain, and more than the top eight Republicans combined."[122]

Boeing has a corporate citizenship program centered on charitable contributions in five areas: education, health, human services, environment, the arts, culture, and civic engagement.[123][better source needed] In 2011, Boeing spent $147.3 million in these areas through charitable grants and business sponsorships.[124] In February 2012, Boeing Global Corporate Citizenship partnered with the Insight Labs to develop a new model for foundations to more effectively lead the sector that they serve.[125][better source needed]

The company is a member of the U.S. Global Leadership Coalition, a Washington D.C.-based coalition of over 400 major companies and NGOs that advocates for a larger International Affairs Budget, which funds American diplomatic and development efforts abroad.[126] A series of U.S. diplomatic cables show how U.S. diplomats and senior politicians intervene on behalf of Boeing to help boost the company's sales.[127]

In 2007 and 2008, the company benefited from over $10 billion of long-term loan guarantees, helping finance the purchase of their commercial aircraft in countries including Brazil, Canada, Ireland and the United Arab Emirates, from the Export-Import Bank of the United States, some 65 percent of the total loan guarantees the bank made in the period.[128]

In December 2011, the non-partisan organization Public Campaign criticized Boeing for spending $52.29 million on lobbying and not paying taxes during 2008–2010, instead getting $178 million in tax rebates, despite making a profit of $9.7 billion, laying off 14,862 workers since 2008, and increasing executive pay by 31 percent to $41.9 million in 2010 for its top five executives.[129]"
matt jensen 5
Give it a rest. Boeing gets five times more subsidies and grant money.
Randall Kimm 0
Please use the English language in the manner for which it was designed. With
literacy civilization and culture followed. You lashed out at everything but
we haven't got the first clue what you continue gibbering away at the first pointless idea that pops in your head like "Carl" on the Ricky Gervais Show.
Randall Kimm 0
This was for ling not you Matt.
Jeff Phipps 9
Clearly this cost over-run was Airbus' doing. Boeing should lobby the Commerce Dpt. and get punitive tariffs put on every Airbus sold to airlines and other governments. Boeing is unfairly being hurt by all other plane makers.
Ian Deans 1
Bollocks !!!!!!
Shenghao Han 4
Meanwhile wasting effort on the C-series lawsuits.
Perhaps you could take a leaf from your own diatribe Mr. Kimm and use some appropriate punctuation? Who's lashing out now?


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