Boeing Company (NYSE: BA) yesterday (Thursday) announced it would test-fly its 787 Dreamliner later this year but disappointed customers by delaying delivery of the plane until the fourth quarter of 2010.

Wall Street cheered the announcement as Boeing’s stock soared more than 6% in New York trading after the company said it still expects the 787 to be profitable.

The rally came despite news that costs for the first three test planes would be charged-off as having no commercial value, resulting in an estimated pretax charge of $2.5 billion, or $2.21 a share, in the third quarter. Boeing said the charge wouldn’t affect its cash flows.

“This new schedule provides us the time needed to complete the remaining work necessary to put the 787’s game-changing capability in the hands of our customers,” said Boeing Chief Executive Officer Jim McNerney.

The 787, already two years behind its original schedule, was scheduled for its

The week of June 26th was very bad to Boeing. After continued reassurance from CEO Jim McNerney that the company’s much anticipated (and previously delayed) Dreamliner 787 would be delivered by the 23rd, Boeing once again came up short. To investors, this was simply one slip-up too many… and a company that cannot fulfill promises is a company worth selling. Making matters worse, the next day, the U.S. Department of Defense terminated the land warfare weapons program headed by BA’s Integrated Defense Systems unit worth an estimated $160 billion. Thinking that there was no possible way to add more grief onto shares of Boeing, Qantas Airways canceled orders for 15 Boeing 787 Dreamliners after being “disappointed” by Boeing’s management.

Shares slid on the day of the initial 787 delay by 6.46%. On the day of the

By Guest Author: Adam Lass (www.taipanpublishinggroup.com)

Anyone who has ever flown on most any commercial airline is familiar with this scenario: Your plane is supposed to depart in the next few minutes. The big board says the flight is on time. The lady behind the counter is all smiles.

But you haven’t actually boarded or anything. In fact, as you squint out the window, you can see that there is no plane available to board, a fact that the oblivious clerk seems unable or unwilling to acknowledge.

Thirty minutes after your takeoff slot has come and gone, the ubiquitous screens that decorate the departure lounge’s walls suddenly blur, flicker and light up with the announcement that some flights may be delayed… by 10 minutes.

Airlines Crash and Burn

I’ve always wondered: Is this just wishful thinking? “Maybe pixies will make a plane appear!” Or more probably, “Maybe if we say nothing, no one will complain.”

When …

BA obviously can’t land its 2009 numbers. So when does arrogance become fraud?

Anyone who has ever flown on most any commercial airline is familiar with this scenario: Your plane is supposed to depart in the next few minutes. The big board says the flight is on time. The lady behind the counter is all smiles.

But you haven’t actually boarded or anything. In fact, as you squint out the window, you can see that there is no plane available to board, a fact that the oblivious clerk seems unable or unwilling to acknowledge.

Thirty minutes after your takeoff slot has come and gone, the ubiquitous screens that decorate the departure lounge’s walls suddenly blur, flicker and light up with the announcement that some flights may be delayed… by 10 minutes.

Airlines Crash and Burn

I’ve always wondered: Is this just wishful thinking? “Maybe pixies

Today’s markets maintain a level of anxiety that another leg-down is coming, namely the notion that we may revisit our former lows of March. As the more bullish investors continue to invest in financial and IT names, it would seem that the vast majority of market movers are taking profits off of the table in the industrial sector of the economy. But while the money seems to be rotating out of the early-cycle names that seem to have gotten ahead of themselves, many of which are up considerably from the bottom, I reiterate that there remains significant opportunity in cyclical-aerospace.

Over the length of the past stock market rally, industrial names enjoyed tremendous gains from the March lows. As one of the sectors to bounce back the strongest, many names like 3M (up over 40% from its lows)