...The One-Minute Pundit
Wednesday, August 24, 2011
One of America's two big exporting companies that isn't in SHOW-BIZ has a problem:
Boeing Co., set to get government approval of its new 787 Dreamliner this week and deliver the first jet next month, expects to spend most of 2012 unwinding the record inventory built during three years of delays to the world’s first composite-plastic airliner.
Boeing amassed $16.2 billion worth of inventory related to the 787 through June 30, with so many almost-finished jets the company ran out of room to park them. There are 35 scattered outside the Everett, Washington, plant, in leased space across an adjacent airfield and in a facility in Texas. Many lack seats and lavatories and have black plastic over the windows and concrete blocks hanging from the wings to keep them from tipping over before engines are installed....
The mothballed jets represent almost $6 a share in inventory growth since 2009. Counting four planes in the factory and six test jets, Boeing has more 787s on hand than Richard Branson’s Virgin Atlantic Airways has planes in service.