The world’s largest aerospace company is celebrating its 100th anniversary this year. So far it’s off to a turbulent centennial: the company’s stock price has dropped 20% from an all-time high of nearly $160 per share in Feb. 2015. Investors are trepidatious after the company, which generates about two-thirds of its revenue from its commercial business and the rest from defense contracting, said it would deliver 740 to 745 commercial aircraft this year–less than the record 762 it delivered last year. The company also said it would lay off 4,000 workers in an effort to cut costs and that it would earn less than expected this year. Low oil prices have softened customer demand for the company’s latest and more fuel-efficient plane models, such as its costly 787 Dreamliner. Competition from rivals Airbus Group and Bombardier pose a threat to its lucrative single aisle 737 jetliner business. Meanwhile, the SEC is investigating multple years of the company’s accounting and financial filings.
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In Charleston, South Carolina
In-flight entertainment is going mobile
It was a high-profile test for organized labor in the nation's most strongly anti-union state.
The group of eight retail bosses will meet with members of Congress on Wednesday, sources said.
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The President will be going to South Carolina to attend the event.
Dennis Muilenburg called it “very productive.”
The completion of the airliner is a big step in China's plan to become a major aircraft manufacturer.