The American Economic Liberties Project and The American Prospect are teaming up again for a virtual event on Thursday, March 26th at 12pm ET featuring Economic Liberties Fellow Maureen Tkacik and The American Prospect’s Alexander Sammon. We’ll be talking about the aviation industry’s collapse in the face of coronavirus and Economic Liberties’ new paper: “Rescue Mission: Bailing Out Boeing and Rebuilding It to Thrive,” which describes Boeing’s decades of mismanagement and outlines the conditions regulators and legislators must impose on the company before providing a public bailout.
We’ll dig into the problems that have plagued aviation for years, asking how an industry that posted record-breaking billion dollar profits, thanks in large part to merger-driven consolidation and the sheer innovative force of baggage fees, collapsed so quickly with nearly no cash reserves to support itself. We’ll be discussing the industry’s obsession with stock buybacks, which amounted to 96% of airlines’ cash flow over the past decade. And we’ll be analyzing Boeing -- whose long history of prioritizing shareholders at the expense of employees, suppliers, safety, and its own long-term survival decimated its ability to carry out its core mission.
Join The American Prospect and the American Economic Liberties Project to discuss these problems and ask your own questions about the current crisis this Thursday, March 26th at 12pm.