Boeing

By: EconomyWatch   Date: 17 July 2010

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In 2008, Boeing was ranked #100 in Forbes’ list of Global 2000 public companies. Decent performances in parameters like sales, profits, and market value, assisted this firm in getting ranked within top 100 companies listed in Forbes Global 2000.
Boeing headquarters is located in Chicago, Illinois. Boeing stocks form a critical component of Dow Jones Industrial Average. Major subsidiaries of this firm include Jeppesen, Boeing Australia, Boeing Store, and Boeing Defence UK.

Brief history
Boeing was founded in 1916 in Seattle, Washington. It was established by William E. Boeing. Initially it was known as “Pacific Aero Products Company”. It was later on May 9, 1917 that Pacific Aero Products Company became “Boeing Airplane Company”. Boeing 247 aircraft was introduced in 1933. In later years, expansions of Boeing’s business operations included a merger with McDonnell Douglas in 1997.

Products and services
Major business divisions of Boeing include Boeing Commercial Airplanes and Integrated Defense Systems. Products offered by this firm are commercial airliners, munitions, military aircrafts, and space systems. Boeing also provides computer services.

Financials
In 2007, Boeing sales amounted to around $65.722 billion. Total profits made by this firm were nearly $3.791 billion. In 2007, Boeing owned assets worth about $56.519 billion. Total employee count of this public company was around 159,300.

Awards and recognition
In September, 2008 Boeing got a Corporate Equality Index rating of 100 percent from Human Rights Campaign Foundation. In same year, Workforce Diversity for Engineering and IT Professionals magazine identified Boeing as top employer for 2008. In 2008, Woman Engineer magazine’s readers identified Boeing as number #1 company for female engineers to work for. In September 2007, BusinessWeek magazine identified Boeing to be one of top 15 US companies where one could launch a career.

Current financial crisis
Boeing is going to be adversely affected by global financial crisis as global demand for weapons purchases goes down. Boeing is also apprehensive as International Lease Finance Corporation (ILFC), world’s largest aircraft buyer, has been put up for sale. Owner of ILFC, American International Group, is looking to raise around $85 billion through sale of ILFC.



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