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

To: m33806 who wrote (2228)	4/25/1999 11:27:00 PM
From: Neil H	Respond to of 3764

Condit flying in the hot seat By August Cole, CBS MarketWatch Last Update: 5:52 PM ET Apr 25, 1999 Thom Calandra's StockWatch SEATTLE (CBS.MW) -- While Boeing shares have begun to climb to a safer altitude after strong first-quarter earnings, some are banging on the cockpit door demanding for Chairman and Chief Executive Phil Condit's wings. The Seattle Times reported Sunday that Boeing (BA: news, msgs) management is facing a dogfight with Wall Street and some employees who pin the company's recent financial woes on Condit. Byron Callan, aerospace analyst for Merrill Lynch, said of Boeing's troubles, "Whether you like it or not, the problems happened under (Condit's) watch. I think his credibility is shot." The Times reported that a company spokeswoman denied that Condit's job is in jeopardy. See full story. The company's will hold its annual shareholder meeting tomorrow in Los Angeles. Boeing board members are set to meet Sunday night. Earnings give lift Boeing recently reported a nine-fold rise in first-quarter profit, beating Wall Street expectations as efforts to eliminate production bottlenecks and build jets quicker began to pay off. See earnings story. In other news, the Associated Press reported a said a proposed $15 million settlement in a racial discrimination lawsuit against Boeing has been called insufficient and unlikely to change race relations at the company. See full story. Shares of Boeing closed up 3/16 to 40 1/2 Friday, near the levels seen immediately following the release of its first-quarter earnings report. This is above its 52-week low of 29 on Aug. 30, 1998.