William Lazonick

Professor of economics at the University of Massachusetts Lowell and the President of the Academic-Industry Research Network

Professor of economics at the University of Massachusetts Lowell and the President of the Academic-Industry Research Network 

William Lazonick on KCRW

Since March some 387 Boeing 737 Max jets have been grounded by regulators and airlines with no end in sight. Boeing profits have tanked. Last month the company recorded its biggest ever quarterly loss and deliveries are at their lowest since 2012. Boeing says it expects the plane to return to service by the end of this year, as it continues to focus on the plane’s software system, thought to be the cause of both plane crashes. Boeing’s crisis highlights a problem beyond flight safety. The aircraft manufacturer chose to prioritize big spending on CEO compensation and stock buybacks rather than reinvest profits on its employees, infrastructure and R and D. Last year alone, Boeing’s chief executive Dennis Muilenburg took home $30 in compensation and gains from options. Buybacks over investment; the financial strategy that’s great for shareholders but may well have cost Boeing the public’s trust.

Did Boeing prioritize profits over safety?

Since March some 387 Boeing 737 Max jets have been grounded by regulators and airlines with no end in sight. Boeing profits have tanked. Last month the company recorded its biggest ever quarterly loss and deliveries are at their lowest since 2012. Boeing says it expects the plane to return to service by the end of this year, as it continues to focus on the plane’s software system, thought to be the cause of both plane crashes. Boeing’s crisis highlights a problem beyond flight safety. The aircraft manufacturer chose to prioritize big spending on CEO compensation and stock buybacks rather than reinvest profits on its employees, infrastructure and R and D. Last year alone, Boeing’s chief executive Dennis Muilenburg took home $30 in compensation and gains from options. Buybacks over investment; the financial strategy that’s great for shareholders but may well have cost Boeing the public’s trust.

from To the Point

More from KCRW

Despite mounting evidence, Republicans in the House and the Senate are defending President Trump or keeping their heads down. Veteran GOP conservatives accuse them of sacrificing morality for short-term political gain. Meantime the Trump Administration calls the impeachment inquiry “unconstitutional,” while legal scholars point out that it’s part of Article II. And how did Ukraine, an obscure former Soviet republic, become so important? Money.

from To the Point

President Trump’s denial of climate change has him at war with California.  Their battle over fuel emission standards has divided the auto industry as well as drivers.

from To the Point

Presidential campaigns aren’t just on TV anymore, they’re on countless digital platforms.

from To the Point

If what you describe is a quid pro quo, is it a quid pro quo?

from LRC Presents: All the President's Lawyers

These are some interesting texts.

from Left, Right & Center

This morning, a bitterly divided U.S. House of Representatives approved a resolution guiding the rules of the impeachment inquiry into President Trump.

from Press Play with Madeleine Brand

Trump’s sometimes, maybe lawyer Rudy Giuliani clearly needs an attorney himself as the investigations involving the former New York City mayor mount.

from LRC Presents: All the President's Lawyers

Was Gordon Sondland lying in his testimony, or was he just not prepared?

from LRC Presents: All the President's Lawyers

A gripping documentary documents the surprising role drug cartels and illegal traffickers are playing in the looming extinction of a rare whale.

from Scheer Intelligence