Word: demisch
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Impressive as all that is, some critics doubt that the transformation alone will have much impact on Boeing's bottom line. Wolfgang Demisch, a managing director of the investment firm BT Alex. Brown, calls Boeing "hugely overstaffed" and ridicules its price war with Airbus. "The commercial-aircraft industry should be enormously profitable because it is a fortress franchise," Demisch says. He argues that with just two manufacturers selling to about 450 airlines, "I see no reason at all why prices [of planes] are as bad as they are. Neither competitor has any real notion of price discipline...
...scuttled its plans to build a similar model. The engine builder, a division of Connecticut's United Technologies, cut development plans in the 1970s under the parent company's acquisitive chairman, Harry Gray. "Instead of building this engine, Gray * bought Otis Elevator. It was a monstrous mistake," says Wolfgang Demisch, who follows the industry for the Union Bank of Switzerland. The company later suffered "a market-share erosion as severe as any I can bring to mind," said Demisch...
...taking orders for the A330 and the A340, two larger intercontinental planes that are only on the drawing board. To the astonishment of Boeing and McDonnell Douglas, Minneapolis-based Northwest Airlines placed a giant $2.5 billion order for up to 30 of the A330 and A340 models. Says Wolfgang Demisch, who follows the industry for First Boston: "Airbus is now in the big leagues...
...need one new shuttle. We need three or four. The nation's sharpest aerospace analyst, First Boston's Wolfgang Demisch, suggests that a single shuttle will build us right back into the mess we are trying to climb out of. A fleet of four shuttles (three current, one new) will have to work perfectly to meet our needs. "It's like the Soviet economy," says Demisch. "If everything works 100%, it is fine. It never does. When one part fails, the whole system fails. We need a realistic program. We are approaching a national emergency. We are re-creating...
...contract winners include Boeing ($131 million), TRW ($57 million), Lockheed ($33 million) and Rockwell ($25 million). Scores of other star-struck companies, from giant IBM to tiny General Research of Santa Barbara, Calif., have also pushed onto the SDIO payroll. Says Wolfgang Demisch, an analyst at the First Boston investment firm: "SDI is the future of the defense industry. No competitive high-tech company can afford not to be a part...