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."
An index launched a year ago to give investors greater exposure to China’s Internet giants is now the world’s worst-performing major technology gauge. The Hang Seng Tech Index has been on a roller-coaster ride in the past 12 months. The gauge, which marks its first anniversary on Tuesday, was up 59 percent at its February peak, but has since seen more than US$551 billion in market value wiped out amid Beijing’s clampdown on the sector. That has reduced its gain to nearly 6 percent, compared with more than 40 percent for the MSCI World Information Technology Index and the NASDAQ-100 Index. The
EDUCATION AS WELFARE: New regulations threaten to upend the lucrative private education sector that teaches the public school curriculum to paying families China unveiled a sweeping overhaul of its US$100 billion education tech sector, banning companies that teach the school curriculum from earning profit, raising capital or going public. Beijing on Saturday published an array of regulations that together threaten to overturn the sector and jeopardize billions of dollars in foreign investment. Companies that teach school subjects can no longer accept overseas investment, which could include capital from the offshore registered entities of Chinese firms, according to a notice released by the Chinese State Council. Those in violation of that rule must take steps to rectify the situation, the country’s most powerful administrative
Facebook Inc on Wednesday reported its profit doubled in the second quarter as digital advertising surged, but warned of cooler growth in the months ahead in an update that sent its shares sinking. Profit rose to US$10.4 billion on revenue of US$29 billion, a 56 percent increase from last year, mainly from an increase in ad revenue, Facebook said. The number of people using the social network monthly climbed to 2.9 billion, a year-on-year gain of 7 percent, while about 3.5 billion people used at least one of the company’s apps, including Instagram, WhatsApp and Messenger. “We had a strong quarter, as we
‘IN ITS INFANCY’: The company’s 12-inch fab in Arizona is to be its first major overseas chip manufacturing site, while the fab in Japan would be its second, if it is constructed Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating the feasibility of constructing a semiconductor fabrication plant in Germany as it continues to expand overseas, it said yesterday. A shareholder at the contract chipmaker’s annual general meeting in Hsinchu City yesterday asked about the possibility following media reports earlier this month that TSMC was approached by the German government about building a chip fab in the country, as Europe joins the US and China in establishing local chip supplies in a bid to avert future chip shortages. “About the German fab, we are seriously looking into it, but it is still in its