Everyone's got an excuse. Especially Boeing , who lately resembles a dead-beat dad, perpetually justifying why the kids' Christmas gifts didn't arrive until May.
In September, the aircraft maker announced the initial take-off of its 787 Dreamliner could take as long as mid-December. Their excuses: not enough titanium fasteners and no time to fix electrical problems.
Now Boeing is once again wiping tears from despondent investors' eyes after confessing the first deliveries of the aircraft will be delayed by 6 months, slating shipments to arrive around November or December 2008. Their excuse: assembly problems.
After investors got over the initial disappointment in September (and the stock, in response, conceded to the 95 level), all was seemingly forgiven as shares rose to surpass the 106 level by the beginning of October.
Today, shareholders responded not unlike woeful tweens, tired of gazing out the window every other Friday, listening for the dilapidated muffler of their tardy father's Pinto. Shortly after Boeing's revelation, shares dropped 4.41 points to $97.04. Currently, shares are trading at $98.37, down 3.04%, nearly 6 points below its 10-day moving average and 4 points below its 20-day moving average.
Maybe next time Boeing will be on time.