March 25, 2024
Michael Landsberg, Landsberg Bennett Private Wealth Management CIO, joins CNBC ‘Squawk Box’ to discuss the latest market trends ahead of the opening bell on Monday.
Boeing CEO Dave Calhoun announced on “Squawk Box” his resignation at the year’s end, addressing the need for action and changes within the company to address supply chain issues. Michael Landsberg, CIO at Landsberg Bennett, commented that Boeing’s internal culture of carelessness, particularly evident in the last six to eight years, has led to poor internal management decisions.
He criticized the company’s practice of internal promotions, particularly referencing Calhoun’s role during the 737 MAX crisis. Landsberg believes Boeing needs an external leader to improve quality control and won’t consider investing in Boeing until such a change occurs.
He then discussed his positive outlook on other companies: Synopsis, O’Reilly Automotive, Axon, and a German defense manufacturer, highlighting their growth prospects and market positioning.
Takeaways:
•Boeing is undergoing leadership and organizational changes, emphasizing the need for improved management and operational adjustments.
•The company’s history of internal issues and the call for an external leadership change highlight concerns about its internal culture and management practices.
•Despite Boeing’s challenges, there are opportunities in other sectors, as Landsberg points out favorable investments in technology, automotive, law enforcement technology, and defense industries.
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