Thread: Trump: Cancel Boeing's contract for Air Force One

Trump: Cancel Boeing's contract for Air Force One

By Harper Neidig - 12/06/16 09:00 AM EST

President-elect Donald Trump on Tuesday ripped Boeing for the cost of a new Air Force One plane, calling for the contract to be cancelled.

"Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!" Trump tweeted.

According to Boeing's website, the aerospace giant is planning on replacing the two 747-200 planes that serve as Air Force One with 747-8's, which they say is the fastest commercial jet in the world and emits less greenhouse gas.

The new planes are expected to be ready by 2024 — which would be Trump's last year in office if he wins a second term.

The Pentagon announced in January that Boeing had won the contract to replace the current Air Force One planes. The initial contract was worth just $25.8 million, but the Air Force planned on spending as much as $1.65 billion on the project, according to Reuters.

http://thehill.com/homenews/administ...-air-force-one

More government WASTE with their corrupt contractors deals!

These contractors have wasted BILLIONS of our money!

It takes 8 years to build an airplane? The United States won WWII in 3 years and 8 months, and it takes Boeing $4 billion and 8 years to built 2 planes? I just don't understand that at all.

What's up, Boeing? Upset over the Ex-Im Bank mess? Well, in your defense, I would be, too. It's a shame that our Congress took so long to renew the Ex-Im Bank authorization that you went to China to build a new plant. How about you cancel that stupid China deal and talk to Trump about the need for a permanent Ex-Im Bank Authorization so you can expand your beautiful operations here in the US? I totally support that. Make it permanent, So long as it's helping our companies create and retain good jobs in the US by helping you sell your wonderful products overseas, it's a winner for the United States and the American People.

Donald Trump just took a shot at Boeing in Trump Tower

Berkeley Lovelace Jr.
4 Mins AgoCNBC.com

President-elect Donald Trump stops to talk to the media in the lobby of Trump Tower December 6, 2016 in New York.
Trump: Boeing is 'doing a number' with new Air Force One deal
32 Mins Ago | 00:32

President-elect Donald Trump unexpectedly started negotiating with Boeing over the price of a new Air Force One on Tuesday morning.

First over Twitter, Trump threatened to cancel its order from Boeing of a new 747 Air Force One, which would be used for future presidents. He said the cost is more than $4 billion.

Then in the Trump Tower lobby, the president-elect amplified his message.

"Well the plane is totally out of control, it's going to be over $4 billion for Air Force One program," He said in New York on Tuesday morning. "I think it's ridiculous, I think Boeing is doing a little bit of a number. We want Boeing to make a lot of money, but not that much money."

In January, Boeing won a contract to start preliminary work on a new fleet of Air Force One presidential aircraft. The Air Force awarded Boeing an initial contract worth nearly $26 million to reduce risk and lower cost, Reuters reported. The Air Force has previously said that it planned $1.65 billion for two replacement jets, Reuters reported.

Shares of Boeing slid more than 1 percent in early trade Tuesday.

Before Trump's tweet, Boeing was trading at $152.16 a share. After the tweet, it fell 1.6 percent to a low of $149.75 a share, according to FactSet. Shares of Boeing have recovered, but still show impact of Trump's tweet.

A spokesman for Boeing said the company has no immediate comment on the remarks from Trump.

The stock is up more than 5 percent year to date.

http://www.cnbc.com/2016/12/06/boein...f-control.html

There is a new President coming to town!!

What a message this sends. You try to cheat US taxpayers on government contracts or build a new plant in China, you try to cheat US workers laying them off and fleeing like money-grubbing slave owners to a hell hole like Mexico, your "brand" will be in the newspaper, on television, on Wall Street, all from a .... tweet about your bad deeds by the new President in town.

This new attitude, this new "tone", can fix our country with a 30 second tweet. This is the power of a President who isn't owned by donors, who isn't beholding to anyone except the American People.

Oh yes, we've got a new President in town alright, and he's got our backs!! Lets make sure we've got his!!

MERRY CHRISTMAS AMERICA!!

Judy wrote:

What's up, Boeing? Upset over the Ex-Im Bank mess? Well, in your defense, I would be, too. It's a shame that our Congress took so long to renew the Ex-Im Bank authorization that you went to China to build a new plant. How about you cancel that stupid China deal and talk to Trump about the need for a permanent Ex-Im Bank Authorization so you can expand your beautiful operations here in the US? I totally support that. Make it permanent, So long as it's helping our companies create and retain good jobs in the US by helping you sell your wonderful products overseas, it's a winner for the United States and the American People.

The corporate charity that operates off the backs of U.S. taxpayers that is the Ex-Im Bank should have never received re-authorization.

Maybe This Is Why Hillary Clinton Is Such A Big Supporter Of The Export-Import Bank


CHUCK ROSS
Reporter

12:32 PM 03/07/2016

740
517

Share

Democratic U.S. presidential candidate Hillary Clinton speaks during the Democratic U.S. presidential candidates' debate in Flint, Michigan, March 6, 2016. REUTERS/Jim Young

When Hillary Clinton offered her full-throated support for the Export-Import Bank during Sunday’s Democratic presidential debate, a vast majority of viewers were likely unaware that some of the largest recipients of subsidies from the federal agency are major Clinton Foundation donors.

Boeing, General Electric, ExxonMobil, Dow Chemical, Emirates Airline, and others have received billions of dollars in handouts from Ex-Im. They’ve also contributed massively to the Clinton Foundation and other Clinton-related endeavors. Companies like Bechtel Corp. have ties to the Clintons through Podesta Group, a Washington, D.C. lobbying firm.

But Clinton failed to mention any of that Sunday when she touted Ex-Im’s virtues as a boon to small businesses.

“One of the ways jobs were brought to, and grown here in Michigan was through something called the Export-Import Bank, which helped a lot of businesses, particularly small businesses, be able to export around the world,” she said during the debate, which was held in Flint, Mich.

That comment received heavy pushback from Clinton’s challenger, Vermont Sen. Bernie Sanders. The democratic socialist, who voted against reauthorizing the agency last year, pointed to statistics showing that 75 percent of Ex-Im’s disbursements go to major corporations and not small businesses.

Sanders is not alone in his critique of Ex-Im’s apparent cronyism. Conservative Republicans have been heavily critical of the 81-year-old agency, going so far as to block its reauthorization in the House for several months last year.

Ex-Im’s biggest beneficiary, as Sanders noted, is Boeing, the airplane maker. It also happens to be a major Clinton Foundation donor, which is a fact which Sanders did not mention.

The Chicago-based company — which received $8.3 billion in financial assistance in 2013 — has donated between $1 million and $5 million to the Clinton Foundation, according to the non-profit’s website. It recorded a $5.2 billion profit last year.

General Electric also receives Ex-Im handouts. GE’s relationship to Ex-Im is so tight that the conglomerate announced plans to move American jobs overseas if Congress failed to reauthorize the agency. The House did so in November.

GE has contributed between $500,000 and $1 million to the Clinton charity, which has received more than $2 billion in contributions since it was founded in 2001.

ExxonMobil has been an Ex-Im beneficiary, too. The oil producer has also donated between $1 million and $5 million to the Clinton Foundation. Caterpillar, the engine and farm machinery maker, is also a Clinton contributor.

Bechtel Corporation, a civil engineering firm that contracts with the U.S. government, received $1.8 billion in Ex-Im assistance in 2013, according to a report from the Mercatus Center.
And while the company has not donated to the Clinton Foundation, it is connected to the Clintons through the Podesta Group, which was co-founded in the late-1980s by brothers John and Tony Podesta. The former is currently the chairman of Clinton’s presidential campaign. The latter has bundled hundreds of thousands of dollars in contributions for the campaign.

Bechtel hired Podesta Group in early 2013 and pays the lobbying outfit $30,000 per quarter, according to publicly available records.

Dow Chemical is another Ex-Im beneficiary with deep Clinton ties. The company has donated between $1 million and $5 million to the Clinton Foundation.

And according to National Review, the chemical company signed a $2.8 million contract with Teneo Holdings, a consulting firm that was founded by Bill Clinton’s top aide, Doug Band. Huma Abedin, Hillary Clinton’s State Department deputy chief of staff, also worked for the firm. Bill Clinton himself served on the company’s board of advisers for a time.

The same year it partnered with Teneo, Dow Chemical joined forces with Aramco, Saudi Arabia’s national oil company, to form a joint venture called Sadara.

In Sept. 2012, Ex-Im gave a $4.975 billion direct loan to Sadara to build an integrated chemicals complex in Saudi Arabia. According to an Ex-Im press release, $600 million of the loan would be used to purchase equipment from U.S. companies.

Ex-Im called the loan its “Bank Deal of the Year.”

The export agency partners with other foreign companies with ties to the Clintons and their non-profit.

The bank has subsidized Emirates Airline to the tune of $3.4 billion. The airliner is owned by United Arab Emirates, which has contributed between $1 million and $5 million to the Clinton Foundation.

Pemex, Mexico’s state-owned oil and gas producer, is the largest foreign recipient of Ex-Im funding and is a Clinton Foundation donor.

While the company has only donated between $1,000 and $5,000 to the Clinton Foundation, it has other ties to the Clintons through Mexican billionaire Carlos Slim.

Subsidiaries of Slim’s Grupo Carso contract with Pemex to produce oil and natural gas.
Slim has numerous partnerships with the Clinton Foundation and its various offshoots. He is also listed on the Foundation’s website as donating between $250,000 and $500,000. That donation was revised downward last year for unexplained reasons, as the Washington Free Beacon noted. Slim had been listed as giving a donation of between $1 million and $5 million.

And then there is Siemens, a German engineering company whose American arm has received billions in Ex-Im help.

The company has donated between $10,000 and $25,000 to the Clinton Foundation. But it has supported the Clinton slush fund in other ways.
Do You Support The Export-Import Bank?
Yes No
Completing this poll entitles you to Daily Caller news updates free of charge. You may opt out at
At the 2006 Clinton Global Initiative, the company announced that it was pledging $10 million to provide medical services and technology to rural China. And in 2007, Siemens partnered with the Clinton Climate Initiative to help reduce energy use in buildings around the world.In defending her support for Ex-Im on Sunday, Clinton said that she believes the agency is needed in order to remain competitive with other nations with robust export agencies.

“In fact, without the export-import bank, supporting businesses of all sizes — I believe more jobs would be lost here at home and more jobs literally would be exported. Instead of exporting products, we would be exporting jobs,” Clinton argued.

Sanders responded with a bit of sarcasm.

“Isn’t it tragic that the large multinational corporations making billions of dollars a year, shutting down in America, going to China, going to Mexico?” he said. “Absolutely they need a handout from the American middle class — I don’t think so.”

Read more: http://dailycaller.com/2016/03/07/cl...#ixzz4S4xYoUpZ

Excerpt:

In some cases, Ex–Im financing actually puts U.S. workers at a disadvantage by providing overseas companies with billions of dollars in financing at favorable rates. Delta Airlines and the Airline Pilots Association, for example, filed a legal challenge last year against the bank for providing financing to five foreign airlines[6] for the purchase of Boeing aircraft. According to the lawsuit:

The bank’s aggressive approach to aircraft financing allows foreign airlines to borrow at much cheaper rates than they could in the private market. Cheaper financing, in turn, leads to competitive advantages for foreign airlines…shifts industry growth abroad, and puts downward pressure on American production and employment.[7]

Whether well-intentioned or otherwise, government interference distorts the competitive landscape, with winners and losers determined by political considerations rather than the merit of their products and services.

http://www.heritage.org/research/rep...s-of-taxpayers

They aren't "handouts". They are loan guarantees. Yes, that means foreign airlines can afford to purchase our US produced Boeings and create jobs in the United States. As Americans, we like that and want more of it, not less.

Heritage Foundation, a 501 C 3 "charity" fraud operating off tax-exempt tax dollars introducing NAFTA and pushing to end Ex-Im Bank that steals jobs right out of the US work force.

Does anyone find the irony in a "charity" organization operating off of tax exempt dollars, which means, we pay more because they're donors paid less, telling US that we should let our employers leave the country or send business of major purchases to other countries?

I do not believe that's in the American National Interest.

Pass the FairTax and shut these "charity" frauds down.

HR 25 in the US House of Representatives and S 155 in the US Senate.

Now, I'm thinking if it has anything to do with using our tax dollars it should not be done.

Why should our working people's tax dollars go to facilitate any kind of business? That's not part of the government's job and certainly not to give/guarantee to foreign companies.

Because their countries do it to sell their products, so if we don't do it, businesses in foreign countries can't buy our products, because their country won't finance the foreign purchase.

Taxpayers don't really pay for it. They're loan guarantees. The Ex Im Bank has very few defaults, makes money on points and interests, and overall actually makes money so it doesn't cost taxpayers anything, it makes US money. It's a mechanism for foreign trade that helps our businesses export their products. It helps all sizes of businesses, small businesses as well as large businesses who want to sell their products around the world to customers who can't finance the purchase within their own country because they're buying foreign goods.

It's been renewed so it's not an issue for 3 more years and I'm sure Trump will see to it that it's renewed again then. I only brought it up because that's why Boeing is building a plant in China, the first Boeing plant to ever be built outside the United States in the 87 year history of the Boeing Company, all because of the stupid debacle last year over the Ex-Im Bank renewal, a program we've had in place since 1934.

For anyone who has an itch to get rid of something, lets get rid of something that doesn't work, instead of things that do. Lets see what could be get rid of that doesn't work, oh I know!! The income tax that hasn't worked once in 103 years.

I'll have to read up on it.

As for income tax not working - it's working fine for the government and those who live off the government - and I'm not talking about poor people here.