Boeing to shut down production of C-17 cargo plane

business-times.asia1.com.sg :

Boeing said it would start shutting down production of its cavernous C-17 military cargo plane, unless US lawmakers authorise new orders. The decision could trigger a ripple of job cuts nationwide, including more than 7,000 Boeing employees and an additional 25,000 workers in 42 states that provide parts for planes still moving everything from tanks to troops around Iraq and Afghanistan.

Lay-offs would not likely be immediate - Boeing has several dozen pending orders, enough to keep production into 2009. But the Chicago-based company said it would no longer spend tens of millions of its own dollars making planes that may never be sold just to keep the supply lines open in hopes of new business. Boeing said it could keep the programme if Congress funds at least 10 more planes, though a delay would increase costs above the current price tag of about US$200 million each.

(2006-08-22 12:49:21 SGT) [Biz] Permalink

Comments:

Post a Comment:

Comments are closed for this entry.

« Gas pipeline explode... | Main | Asean keen on Europe... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004