Now that I’ve been blogging about political stuff, I have exposure to many non finance channels and get to see what these political types say about finance, most of which is wrought with abject ignorance of the 8th grade varietal.
Earlier today, Trump tweeted that Boeing’s Air Force 1 project had run too long and was too expensive, saying it cost upwards of $4b and that he wanted to cancel the order.
Trump claims new Air Force One "out of control": "We want Boeing to make a lot of money, but not that much money." https://t.co/pSI7kxR3uH pic.twitter.com/73qk508UA5
— ABC News Politics (@ABCPolitics) December 6, 2016
I suppose as President of the United States, he’s both entitled to discuss what he believes to be unfair treatment of American tax dollars and also to apply pressure to Boeing for doing such a shitty job. The whole thing reminded me of the movie The Aviator, with Howard Hughes being accused of war profiteering for building the ‘spruce goose.’
I’m 100% positive that if we peered into the defense contracts, we’d find a lot more than $4b in waste. But that’s not the point.
Everyone saw BA drop a little and were almost ebullient that the shares had dropped on the Trump tweet. What these idiots didn’t realize is Boeing does $95b in sales per annum. If they lost the contract, which they won’t, it wouldn’t meant a god damned thing to them.
On the left, people depicted Trump as a lunatic who’s running up expensive NYPD security bills on one hand, and on the other complaining about wasted tax payer dollars.
It’s not likely that Trump will hire a foreign manufacturer like Airbus for the project, so this is just posturing. The art of any deal is to apply pressure, offer a solution, close.
My best guess, Trump will use Boeing’s significant defense contracts as leverage to get a better Airforce 1 deal.
Calm the fuck down.
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He’s right, the spending is out of control. Also, fuck Boeing…are we supposed to feel bad for them or something?
You’re not supposed to feel anything.
How dare the man try to reduce spending through making better deals for the Amerikan tax payer. This is CRIMINAL behavior and CNN must shame him.
That’s the beauty of Trump, he actually knows what a tricked out 747 should cost
Plus 10
If we didn’t go 16 years at a time between presidents who understand what a negotiation is, this wouldn’t be so surprising.
1
Was going to say the same exact thing
Now what will Boeing do with this $500 presidential toaster?
The Military/Industrial complex will not stand for this abuse!
You can bet a President Hillary would be busy picking out the China patterns right now for Air Force One if she had won.