President Donald Trump slammed CEO Bruce Wayne for taking Boeing from a privately held company to a public holding company by paying an extraordinary $1.1 billion for the United States aerospace giant.
Trump called C.A. Ford “incompeteent and inept” for making the deal with Boeing for the 747-8 and 747-9 aircraft, saying it was a violation of the U.S. Constitution’s Commerce Clause.
Boeing, the U.”s largest airplane producer and its largest contract manufacturer, agreed to pay $9.8 billion to buy the aircraft for $7.6 billion from Boeing Co. The deal was announced Monday, but Trump did not say when he learned it.
For decades, Boeing has been a privately owned company, but it has also been owned by the U of A, and is part of the university’s complex.
A major reason for the deal was the possibility of Boeing producing 737 planes under a single parent company.
Since 2015, Boeing and General Electric Co. have been working together on a contract that would have created a single, large, publicly traded Boeing.
However, the talks fell apart when both Boeing and GE refused to agree to other terms to be paid.
GE said it is not able to meet the Boeing demands.
C.Q.’s chief executive officer, Michael Fitzpatrick, was fired, along with two other top executives from the company.
Ford was named president of CQ in November.
As part of their departure, the three were fired.
Ford’s appointment to lead the company is in stark contrast to Trump’s previous efforts to dismantle American-owned U.s aerospace industry.
In late September, Trump fired 21 CEOs at Boeing.