Boeing is going, and its CEO is already gone

Since reporting second-quarter earnings last week, shares of Boeing (NYSE: BA) have lost $25 in value — a stock market decline of more than 13% — at the time of writing. That shouldn’t come as a huge surprise, though.

Boeing’s earnings were truly dire. Bad enough, in fact, to cost Boeing’s CEO his job.

Boeing “missed earnings” by a large margin last week. First, revenue was more than $300 million below expectations at $16.9 billion. All in all, the company reported a net loss of $2.33 per share. The company’s cash flow statement showed a cash burn of $4.3 billion in a single quarter.

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