S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Military

Boeing (BA) Whines About Tanker Loss

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Now that Boeing (NYSE: BA) has officially lost the bidding for a new Air Force tanker to Northrop Grumman (NYSE: NOC) and EADS, parent of Airbus, it will probably make an official complaint to the US government.

"What is clear now is that reports claiming that the Airbus offering won by a wide margin could not be more inaccurate," the company said in a statement, according to Reuters. Almost all the comments made by military officials contradict that, so it is difficult to believe it is true.

Part of the leverage that Boeing has is members of Congress who want to keep jobs building the tanker in the US. EADS would do some of the work in its home markets of France and Germany.

Boeing may end up cutting its own throat. If EADS and the governments in large European countries believe that the decision about who should get the contract is purely political, Boeing might find some of its commercial airplane orders from the large flag carriers in the region cut. That could cost Boeing more than the tanker contract is worth.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

As Boeing (BA) Pushes Congress, It Risks Business In Europe

The management of EADS sits in Europe watching pork-eating members of Congress talk about the hearings they will hold in…
Does Dubai Matter for Boeing, or Is It All About Bombers?
Paul Ausick |

Does Dubai Matter for Boeing, or Is It All About Bombers?

When the Dubai Air Show opens on November 8, Boeing is expected to announce some new industrial partnerships that expand…
Douglas A. McIntyre |

Boeing Wins Tanker Bid a Second Time (BA, EADSY, LMT, NOC, GD, UTX)

After a second do-over, Boeing Co. (NYSE: BA) has once more bested Airbus maker EADS (OTC: EADSY) in the bidding…
Paul Ausick |

Boeing Battles Airbus for Korean Tanker Contract

The government of South Korea has announced that it will seek bids for four military refueling tankers in June, and…
Lockheed Martin, Airbus Team Up to Supply a Tanker in Case the Air Force Needs One That Works
Paul Ausick |

Lockheed Martin, Airbus Team Up to Supply a Tanker in Case the Air Force Needs One That Works

Lockheed Martin and Airbus have agreed to an alliance for the purpose of offering the Airbus A330 MRTT tanker/transport plane…
Jon C. Ogg |

US Military Tanker Bids Nearing Completion? (EADSY, BA)

A process begun in 2000 might be coming to a close. European aircraft maker EADS (OTC: EADSY), builders of the…
Paul Ausick |

Boeing, Airbus Battle for Korean Tanker Deal Is Still Going

The Boeing Co.The government of South Korea wants to buy 4 military refueling tankers for a total price of about…
Douglas A. McIntyre |

Aircraft Builders Compete for Air Force Tanker Contract Again

Maybe the third time will be the charm. Today marks the closing date for bids to build a new refueling…
Jon C. Ogg |

Airbus Shines, Whines (EADSY, BA, AIRYY, DDAIF, AIG)

From the ashes of a terrible 2009, the European Aeronautic Defense and Space Co. NV, or EADS, (OTC: EADSY) posted…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618