AUDIENCE MEMBER 00:08
I just like to know your thoughts on the errors in engineering and business generally at Boeing? And how you’ve been thinking about that as that’s unfolded recently?
CHARLIE MUNGER 00:20
Well, I don’t like to jump on Boeing. Boeing is a great company that had one of the great success rates. Great in safety records of the world. They lost their way. They made some dumb mistakes.
And I think that’s almost the nature of things too. When you try and do something very complicated with hundreds of thousands of people. That occasionally there may well be a slip up.
And in most places, if you actually look at them, they have some near misses. Boeing had a near miss a few years ago when the rudder stuff failed and they had a few crashes.
I was on the safety committee at U.S. Air when that happened and nobody could figure it out for months. Something in the rudder was not working and it caused three crashes. It took them six months or so to figure it out. And they must put an army on it.
Well they survived that one and they’ll no doubt survive this one. But, it’s really expensive to make a big safety mistake. And of course, they should be avoided.