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Technology Stocks : Boeing keeps setting new highs! When will it split? -- Ignore unavailable to you. Want to Upgrade?

To: steve dietrich who wrote (2031)	12/29/1998 11:26:00 AM
From: Geoff	Respond to of 3764

Well, it looks like BA is doing something efficiently... Boeing Recognized for Energy Efficiency and Greenhouse Gas Reduction Measures biz.yahoo.com Woohoo! later, geoff

To: steve dietrich who wrote (2031)	12/31/1998 12:41:00 AM
From: David C. Burns	Read Replies (1) \| Respond to of 3764

Boeing's 550 Jets in 1998 Is Record .c The Associated Press By JOHN M. HUBBELL SEATTLE (AP) -- At the end of a year pockmarked by scalebacks, shakeups and job cuts, executives at The Boeing Co. are finally wearing smiles. As the aerospace giant closes the 1998 books today, it does so with some simple math. It promised 550 jets to customers this year, and that's exactly what it delivered. The number was an all-time company high made possible by the production of ''60 or more'' planes in December alone, company spokesman Mark Hooper said. The company shipped 14 planes on Tuesday to tie a single-day delivery record. Alan Mulally, president of the company's commercial airline division, was all smiles Wednesday as he congratulated workers along Boeing's tarmac. ''Boeing has been through a lot this year,'' Mulally said. But the company, he declared, ''is back.'' This past year featured production problems and scalebacks, a management shakeup and an announcement of 20,000 job cuts beyond a previously announced shearing of 28,000 positions over the next two years. Shares in Boeing, the world's No. 1 aerospace company, are more than 43 percent off their 52-week high of $56.25, with shares hovering around $32 in trading this week. Earlier this month, shares plunged 16 percent in one day after the firm announced the latest round of job cuts. Boeing officials attributed the move to the Asian economic slump, the effects of which some analysts said Boeing should have anticipated. Glenn Stewart, an aerospace analyst at A.G. Edwards in St. Louis, had earlier chided Boeing for a lack of foresight. On Wednesday, Stewart said he was ''surprised'' that the delivery marker was met. ''There will be slight applause,'' Stewart said of Boeing's accomplishment. The 550 planes ''were better than what some were anticipating. But we're also looking at: 550 (jets) at what cost?'' Boeing had once projected 1999 net earnings at about $2 billion. The company had scaled back next year's expected profits to between $1.5 billion to $1.8 billion. Officials on Wednesday did not modify earlier forecasts of a 1998 profit of just above $1 billion. Mulally declined to provide fourth-quarter financial data Wednesday, saying it would be released Jan. 25. Paul Nisbet, an aerospace analyst with JSA Research Inc. in Newport, R.I., was impressed by the news. ''This is the first real chance for ... Mulally to show that he can produce on his promises, and he's done it,'' Nisbet said. But he said Boeing likely met the production goal ''at zero profit. That's what really has to be changed.'' As the company heads toward a 1999 production goal of a would-be record 620 jetliners, Mulally said Boeing has learned from its bruising year. He said the company has streamlined production and improved communication both internally and with its customers. ''We need to include everybody, including the airlines, when we make these big decisions on production levels,'' Mulally said. Boeing has operations in 28 states, with major plants in Washington, California, Missouri, Kansas and Pennsylvania. Washington state is home to all but one of Boeing's cargo and passenger jet assembly plants.