Boeing Blues

Slumping with the airlines

As the world's leading commercial planemaker, Seattle's Boeing Co. stands to benefit handsomely when times are good in the airline business. But when times are bad, as they are now, Boeing gets the blues. Airlines are now beginning to cut back sharply on orders for the new 757 and 767 jets that the aerospace company had hoped would make it fly high through the 1990s.

Boeing's earnings were off 58%, to $61 million, during the first three months of this year as compared with the same period a year ago. In the state of Washington, Boeing employment is down...

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