Boeing’s Flight Path for the Long Haul

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To the Editor:
The Boeing article should be a warning to investors (“Boeing Stock Can Gain 35%. How It Can Win the Future by Fixing Its Problems Now,” Cover Story, Aug. 13). Al Root talks of the importance of engineering and a new plane model for the future of Boeing. Then he notes in a small comment near the end that “R&D spending has fallen about 30%.” Few if any of the great technology companies reduced engineering head count by more than 10% during Covid-19. A 30% reduction is more indicative of a company whose leadership feels that engineering is not a core competence, and that engineering talent can be easily replaced.

Steve Jacobs, Cupertino, Calif.

Yardeni’s Insights

To the Editor:
Regarding “Stock Prices Are Poised to Keep Rising, Says Longtime Bull. Here’s Why” (Interview, Aug. 12), Barron’s does it again—by sharing another of the most useful sentences in the field of modern financial markets that have come from Ed Yardeni. When asked, “Anything you’d avoid?” he replied, “Don’t ask me about Bitcoin.” Then he added, “I need earnings, dividends, rent, some income to discount.”

Ian P. Ellis, Westport, Conn.

To the Editor:
Yardeni’s insights that a decline in labor-force growth means we have a worker shortage—and will have to rely on increased productivity and entrepreneurialism—is instructive as we look at fiscal policy. It seems an opportune time to revisit whether to tax income or consumption. Consumers are reportedly flush with cash and in the best shape ever. A shift to taxing consumption through a national sales tax would incentivize workers and entrepreneurs, who would keep and invest more of their capital while having the freedom to choose their personal tax rate. It would also address the wealth transfer that favors more-affluent Americans and an aging population that is increasingly leaving the workforce.

Steve Wosahla, Bristow, Va.

Veni, Vidi, VICI

To the Editor:
Not mentioned in “This Growing Gambling REIT Yields 4.8%” (Income Investing, Aug. 12) is that VICI Properties has best-in-class governance or that the pending transactions will eliminate all secured debt for the merged company. VICI is one of the best REITs out there. The large dividend reflects the low cost of buying those earnings.

R. Paul Drake, On Barrons.com

No Eviction Moratoriums

To the Editor:
The solution to the eviction distribution problem should have been very simple (“Good Intentions Won’t Stop the Eviction Crisis,” Other Voices, Aug. 13). Solve it at the last mile. Designate judges to special courts at localities to address evictions with bureaucrats authorized to make payments on the spot to those landlords whose renters are judged worthy of support.

Donald E. Brown, Fairfax, Va.


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