Boeing (BA): Will The 787 Go Missing?

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In the face of concerns that Boeing (BA) may not be able to launch its 787 Dreamliner on time, the company seems unconcerned. The first customer is to get the first plane in May. "That’s still our target," said Adam Morgan, spokesman for Chicago-based Boeing.

Boeing could be risking a large measure of its reputation both with Wall St. and its customers. Last week, Lehman Brothers said it thought the plane could be four to six months late, according to MarketWatch. That could hurt cash flow.

How much are Boeing’s shares at risk?  Probably a great deal  Over the last couple of days, the shares have moved down a bit from their 52-week high of almost $108. They now change hands at just under $103. But, it should not be forgotten that early last November, the stock was under $80. There has been a great deal of excitement about the huge volume of Dreamliner orders since then.

Delivering the plane on time may be a bigger deal than is evident at first glance.

Douglas A. McIntyre