The Globe and Mail reports in its Saturday edition that in regulatory filings last week, Boeing's space unit lost $523-million (U.S.) in 2024 -- its largest single-year loss to date. The Globe's Gus Carlson writes that means the program has lost more than $2-billion (U.S.) since it signed its commercial crew contract with NASA in 2019. In its filing, Boeing said, "There is ongoing risk that similar losses may have to be recognized in future periods." That gloomy prediction reflects a somewhat muddy future for the next mission in the Starliner program. Astronauts Butch Wilmore and Suni Williams have been stuck on the International Space Station since last spring after their Starliner ship broke down. As if the financial woes weren't enough of a Major Tom moment for the stranded astronauts, two weeks ago Starliner made a remarkable move: promoting the program manager who oversaw the designs linked to many of its recent problems to run the entire program. In most any other company, rewarding poor performance -- even failure -- would not fly with stakeholders. But this is Boeing, after all, which has demonstrated time and again breathtakingly off-course decision-making at both the board and executive management levels.
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