Word: forgeard
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...their own experiences in the spotlight, like basketball great Oscar Robertson on LeBron James and Quincy Jones on Juanes, the Latin pop star. Some--like Citigroup's Sallie Krawcheck, who wrote about eBay's Meg Whitman; Gloria Steinem on Winfrey; and Richard Branson on Airbus CEO Noël Forgeard--make their judgments with a cool eye, but others, like Lisa Marie Presley on Etheridge and the Rev. Billy Graham on John Stott, are surprisingly personal. Among my other favorites: Russell Simmons on Jay-Z; Desperate Housewives star Felicity Huffman on the show's creator, Marc Cherry; Bono on his good...
...other's throats as never before. Although the U.S. government and the European Union reached a temporary deal last month to avoid a World Trade Organization (WTO) fight over government subsidies, the two sides were sniping at each other again less than 24 hours later. When Airbus CEO Noel Forgeard said aircraft launch aid (the no- or low-risk loans that European governments have historically provided the company to help finance plane development) wasn't "part of the past," a spokesman for the U.S. trade representative fired back, "The U.S. will not agree to permit new aircraft subsidies that...
...cooperating with authorities. But Europeans fail to mention that Airbus' majority stakeholders (the Franco-German conglomerate European Aeronautic Defense & Space Co. and BAe Systems, based in Britain) have significant military businesses too. The Europeans also object to state governments' providing tax benefits or other subsidies to Boeing. Says Airbus' Forgeard: "We want a level playing field...
Airbus' reaction to the 787, meanwhile, has been baffling. At first, Forgeard was quoted as dismissing Boeing's new plane as a "Chinese copy" of Airbus' similar A330. But last December, Airbus abruptly shifted and said it would build a derivative plane called the A350. Boeing spins the A350 as a sign of lost confidence in the A380. In an interview last month, Boeing's Stonecipher pointed to another European government-backed plane that never made a profit and has been grounded. "The A380 is a great engineering success, but so was the Concorde. The A380 could be a market...
...course, Airbus' majority stakeholders, EADS and BAE Systems, both have significant military businesses, too.) The Europeans thus don't see subsidies going to zero. Says Forgeard: "We want a level playing field with a level of support that is acceptable to both sides." The debate over subsidies is especially heated because the aircraft business is so precarious. Launch costs for a new aircraft can be enormous, with little guarantee that the market will reward innovation. In December 2003, Boeing announced it would build the twin- engine, highly efficient 7E7 - its first new airplane in a decade and its designated aircraft...