The Boeing Co has closed out the 757 commercial jet program with the last of the 1,050 jets to roll off the assembly line. \nT-shirts showing a 757 with the words, "Celebrate the Legacy," were worn by thousands of past and present Boeing workers on Thursday at a ceremony marking the end of two decades of production of the 200-passenger plane in this Seattle suburb. \n"A big chunk of my life has been spent on this program," said Clyde Brown, who worked on the 757 line from the start more than 22 years ago to the end. "That plane has been good to me." \nThe last 757 is scheduled for delivery to Shanghai Airlines in April. \nBrown and many other workers will now work on another plane that figured in the demise of the 757 -- the newest models of the 737, also made in Renton. No layoffs from the end of 757 production are planned. \nAlan Mulally, head of the company's commercial airplane division, said Boeing plans to "crank up" 737 production but gave no details. \nBoeing, based in Chicago, announced in July that after cutting more than 27,000 jobs in three years, about 3,000 workers will be hired in the Puget Sound region by Dec. 31. \nMany are in technical and engineering jobs for the 7E7 program in Everett and a military program to equip the 737 airframe as a Navy submarine-hunting aircraft. \nAny new hires for 737 production were factored into Boeing's employment forecast in July, a spokeswoman said. \nMulally was an engineer on the original design team for the 757 program, which was headed by Philip Condit, who went on to become chief executive of Boeing but resigned earlier this year in an uproar over the use of dubious methods to win government contracts. \nAt the ceremony Mulally noted that all but 20 of the 757s remain in service worldwide. \n"It has one of the great safety records of any plane in the world," he said. \nOne unique feature for Boeing was simultaneous design of the single-aisle 757 and the widebody 767, which is assembled in Everett. \nDespite differences in size and range, they were designed with common flight decks so pilots trained on one could fly the other with little additional training, resulting in big cost savings for airlines. \nSales of 757s reached a peak of 99 planes in 1992 but declined to 45 by 2000, then plummeted in the airline industry slump that followed the terrorist attacks of Sept. 11, 2001. \nTwo of the three planes seized by the terrorists were 757s. One hit the Pentagon and the other crashed into a field in Pennsylvania after passengers stormed the cockpit. \nFactors in the end of the line for the 757 include development of bigger, more economical and longer-range 737 models, the 7E7 Dreamliner that Boeing plans to begin building in 2006 and competition from Airbus SAS. \nStill, Mulally said predicted that Boeing would be providing product support for the 757 for "the next 30 to 40 years."
Just a few years ago, the millennial generation — generally defined as those born from the early 1980s through the mid-1990s — was synonymous with youthful rebellion. However, now, as the millennials ease into early middle age, they are finding their path out of their parents’ basement to be a lot harder than it was for earlier generations. The fundamental problem is that millennials are not building wealth. The wealth of the median US household headed by someone 35 or younger has actually shrunk in inflation-adjusted terms since the mid-2000s, even as the wealth of older Americans has continued to grow. An
‘LITTLE CHOICE’: The airline said it expected only about 8,000 of its 29,000 employees to be working by next month, but hoped to have 21,000 in the next two years Qantas Airways Ltd plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs as Australia’s largest airline tries to survive the coronavirus pandemic. Qantas yesterday announced a plan to reduce costs by billions of dollars and raise fresh capital. The plan includes grounding 100 planes for a year or more and immediately retiring its six remaining Boeing Co 747 planes. Chief executive Alan Joyce said the airline has to become smaller as it braces for several years of much lower revenues. He said the furloughed workers faced a long interruption to their airline careers. “The actions that we’re taking
Apple Inc’s decision to stop using Intel Corp processors in its Mac computers and switching to its own chips might benefit Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and boost Taiwan’s high-tech exports, Australia and New Zealand Banking Group (ANZ) said in a note on Tuesday. The US tech giant announced the “Apple silicon” initiative at its annual Worldwide Developers’ Conference, which started on Monday. The company said the first Mac powered by its own chips would debut by the end of this year and all product lines might shift to the new architecture in the next two years. TSMC is likely to
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price