Strome Business Minute With Dr. Jeff Tanner

I’m Jeff Tanner, Dean of the Strome College of Business at Old Dominion University and this is a Strome Business Minute. The problems with Boeing’s seven-thirty-seven Max have proven to be much harder to fix than a simple software glitch it was first thought to be. Production has halted and JP Morgan says the company will burn through one billion dollars a month while shut down, mostly to support suppliers. Boeing is also paying customers like Southwest Airlines and American hundreds of millions in compensation as they cancelled thousands of flights that were depending on the new aircraft. While the compensation Boeing is paying is a secret, Southwest shared one hundred and twenty five million dollars with its employees as a year-end bonus. No word from American on their use of funds but they are still embroiled in a labor dispute with their mechanics. To find out more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.