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Boeing's Best Weapon Against Airbus: Plummeting U.S Dollar (BA)
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There are numerous articles on the web today discussing how Airbus’ parent EADS may cut its $3 Billion R&D budget. It isn’t the maximization of technology. It isn’t a slowing economy. It’s the weaker and weaker U.S. Dollar.
If this is music to anyone’s ears it would be to that of Boeing (NYSE:BA).
Bloomberg reported that this Dollar-Euro level has passed the pain barrier, although the Unions in Europe were in disagreement as the company has record orders.
Frankly, if EADS wasn’t smart enough to enter better currency hedging then maybe they deserve their labor unions to be unhappy as it begins the construction and roll-outs of its new planes.
Boeing (BA) won $716 million in orders from KLM on Thursday. As long as Boeing doesn’t have excessive raw materials costs that have been rising on a weak dollar, maybe it can win more orders away from Airbus from the dollar collapse.
Jon C. Ogg
November 23, 2007
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