From the Guardian: Boeing's travails show what's wrong with modern capitalism - excerpt: But, in fact, SOMEONE in DC should have done SOMETHING about it. We have anti-trust laws on the books since the 19th century. Somebody/everybody asleep at the wheel in LaLaLand on the Potomac? From here: Understanding Antitrust Laws - Investopedia - excerpt: The Attorney General in LaLaLand seems to have a blind-eye as regards antitrust-law since quite some time ... !
AND WHILST I'M AT IT I am mystified as to why nobody at the Attorney General's office has not seen that over the past 20/30 years markets in the US have become oligopolized, that is,: Which means what, aside from its definition above? This: Over the past 30/40 years we have allowed companies to "buy-out" their competition - and thus reap illegal profits. That is, a market is reduced to two, three or four Real Competitors with the dominant company fixing the top-price and two or three others with only slightly lower pricing. Is it legal that any market should be so "concentrated". Not really, but no AG in LaLaLand on the Potomac has ever tested that argument in a court of law. Which is why Boeing has no real competition - aside from Airbus - in commercial aircraft manufacturing. Maybe the AG at the time Boeing was allowed to swallow McDonnell-Douglas (already two merged once independent aircraft manufacturers) thought that just one American aircraft manufacturer was good for competing with Airbus (European). But, that point does not really matter. The anti-trust law were intended clearly to enforce the rule that there shall be no lack of competition on markets indigenous to the United States. So, believe me, if airline tickets are costly in the US it is because they have to pay-off the cost of expensive aircraft. "Well, there's always Airbus as a competitor!" - some might say. But if Boeing has market (and therefore pricing dominance) in the US, then Airbus will indeed come in with a lower-price - but not as low as IF there were real market-competition with a mixed-bag of competitors. WORST YET Boeing is only an example of the dirty-work that Uncle Sam has indulged in to consolidate markets, thereby reducing competition, AND thereby enhancing Net Income. BUT raising costs-to-consumers. That is, the American people who fly airplanes because they don't take trains anymore. (Which mysteriously the US let degrade and very largely close. Whilst Europe has some of the fastest high-speed trains available to the world - around 190 mph!) It's high-time we, the sheeple, had sufficient "balls" to insist that markets be made again competitive. After all, we are the ones paying the higher cost of extensive market concentration for goods and even services* ... *Did somebody just say Amazon or Facebook?!?
Boeing gad a monopoly till Air Bus came along. First everybody was just laughing, but now Air Bus is a equal competitor and puts huge pressure on Boeing. Air Bus's latest planes, like the 320 Neo, forced Boeing to throw planes together, the 737 Max or the 777. The 777 just failed a emergency pressure test. Being to cozy with the FAA, lack of oversight, increased the problem and the hierarchy in the company. It always happens when you think you are the greatest. Arrogance.
pure total perfect liberal ignorance of course. In fact, Boeing products fly perfectly for 4 million people every single day!! Pure ignorance!!
