Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
Donald Trump tweeted, Boeing stock fell. From Reuters:
U.S. President-elect Donald Trump said on Tuesday costs for a new Air Force One – one of the most prominent symbols of the U.S. presidency – were out of control, and urged the government to cancel a contract with Boeing Co for the jet.
Trump, who takes office on Jan. 20, griped during his unconventional election campaign about the cost of President Barack Obama’s use of the presidential aircraft to campaign for his rival, Hillary Clinton.
It was not immediately clear what prompted his complaint about Boeing and the presidential plane, but his transition team said that he aimed to send a clear message he intends to save taxpayers’ money.
“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 said in a morning Twitter message.
It was not clear what his source of information was for the cost. The budgeted costs for the Air Force One replacement program are $2.87 billion for the fiscal years 2015 through 2021, according to budget documents..
…Boeing shares dipped after Trump’s tweet and were down 0.7 percent in morning trading. Shares of several other major defense contractors were also lower.
“We want Boeing to make a lot of money, but not that much money.” Is Trump’s statement different from Obama’s “I do think at a certain point you’ve made enough money,” and, if so, why?Published in