Originally Posted by
Less Hair
Boeing felt they were financially underperforming compared to MDD. They felt they were seen as some old, unsexy machine building company far off to the west.
I have to disagree - it wasn't "Boeing" - it was Phil Condit. Condit was a shining example of the "Peter Principle" in action (basically, people get promoted to their level of incompetence). He was the first Boeing CEO who directly cared about the stock price (the CEO's before Condit apparently understood that if they did a good job, if the company did well, the stock price would take care of itself). He personally negotiated the terms of the merger with MacDac - never realizing that those terms would effectively put MacDac in charge.
Phil Condit will go down as one of the worst CEOs in US history.