Airline and defense contractor Boeing (NYSE: BA) has been an iconic representation of American innovation for over a century. When I used to live in Washington D.C., I'd often drive past the Boeing headquarters in Crystal City on may way to work. It was hard not to be inspired by such an incredible business.
But over the last few years, Boeing has been at the center of one negative story after another. The company's reputation is tainted, and with so much hoopla surrounding the bad press, it's beginning to look like Boeing's best days are in the rearview mirror.
Let's take a look at some of Boeing's headaches and assess why I think investors are best off avoiding the aerospace stock right now.
Boeing has been the target of a number of whistleblowers over the last few years. Many of these whistleblowers were Boeing employees who publicly stated concerns about the company's commitment to safety and quality assurance.
It's no coincidence that the whistleblowers emerged as Boeing was also the subject of government investigations related to some high-profile crashes.
Naturally, events like this can damage a company's reputation. But for Boeing, the company is in a unique position. Boeing's most direct competitor in the airline industry is Airbus. Given the two juggernauts essentially represent a duopoly, it's going to take much more than some bad press to convince investors that Boeing's prospects are looking bleak.
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