WEBVTT - Dennis Muilenburg

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<v Speaker 1>With roughly one thousand employees across sixty six countries. Bowing

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<v Speaker 1>airplanes and aerospace products represent one of the most visible

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<v Speaker 1>and important US exports to the globe, and as CEO

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<v Speaker 1>of the roughly ninety three billion dollar company, Dennis Muhlenberg

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<v Speaker 1>is in charge of securing the Planemaker's future in both

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<v Speaker 1>the commercial and military sectors, overseeing the rollout of A seven,

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<v Speaker 1>eight seven and the Max ten, and securing a nearly

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<v Speaker 1>four billion dollar contract to build a new air force

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<v Speaker 1>one for the presidents. Since he became CEO in Before

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<v Speaker 1>becoming chief executive, Muhlenberg held various roles at boeing, from

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<v Speaker 1>president of the company's Defense, Space and Security division to

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<v Speaker 1>director of the weapons system for the proposed Bowing Joint

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<v Speaker 1>Strike fighter aircraft. He recently sat down with Carlisle Group

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<v Speaker 1>co founder David Rubinstein. They spoke on David Rubinstein's Bloomberg

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<v Speaker 1>television program Peer to Peer Conversations. Since you've been the CEO,

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<v Speaker 1>the market capitalization of the company is up about the

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<v Speaker 1>stock prices up about a hundred and yet you also

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<v Speaker 1>ride a hundred and twenty miles a week in a bicycle.

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<v Speaker 1>Have you thought about how much higher the stock price

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<v Speaker 1>would be or the market cap if you didn't spend

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<v Speaker 1>those time on the hundred and twenty miles a week

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<v Speaker 1>in bike book riding, Well, I have thought about that,

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<v Speaker 1>and actually I ride closer to a hundred forty a week,

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<v Speaker 1>and with that correlation, I'm thinking I should start writing

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<v Speaker 1>two hundred a week. Wow. Okay, all right, Well, um

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<v Speaker 1>so does I mean riding bikes? I've done probably ten

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<v Speaker 1>miles in my lifetime maybe something like that. But um so,

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<v Speaker 1>isn't it dangerous? I mean they have key Man insurance

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<v Speaker 1>on you, your important person. I ride more than ten

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<v Speaker 1>thousand miles a year, so I'm safety conscious and uh,

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<v Speaker 1>you know that's a well honed skill. And you know,

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<v Speaker 1>one of the things we take pride in our companies

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<v Speaker 1>are is our safety record. And I try to apply

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<v Speaker 1>the same thing when I'm riding. And it's a great

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<v Speaker 1>way to relax and think and frankly, I think, uh,

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<v Speaker 1>taking time to exercise and ride my bike, Uh, it

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<v Speaker 1>makes me better as a leader, and I try to

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<v Speaker 1>encourage that in our team as well. When did you

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<v Speaker 1>take this up? Uh as a young man or you're

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<v Speaker 1>always interested in this, I've been riding for probably years. Seriously,

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<v Speaker 1>I often travel with my bike and I can drum

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<v Speaker 1>up some Bowing riders at almost any one of our sites,

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<v Speaker 1>and we hand out Bowing jerseys. It's a great way

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<v Speaker 1>to get out with the team. Any of them ever

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<v Speaker 1>go faster than you, or they're not allowed to do that.

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<v Speaker 1>Some try, some try they're still with the company, or yeah, yeah, yeah,

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<v Speaker 1>I like a challenge. M One other thing that I

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<v Speaker 1>found unusual and reading about you is that you seem

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<v Speaker 1>to be fueled by diet mountain dew. You drink enormous amounts.

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<v Speaker 1>It is one of my favorite drinks. So you have

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<v Speaker 1>some here? Um, is there something in it that I

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<v Speaker 1>don't know about? But went to look? I mean, if

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<v Speaker 1>I what I looked like you? If I could drink

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<v Speaker 1>the diet mountain dew, You're sure? All right? Now? Hey,

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<v Speaker 1>it's good. It's it's a good energizer for me. You

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<v Speaker 1>serve those everywhere at Boeing. Assume they have that pretty much.

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<v Speaker 1>So let's talk about the company you're you're leading now.

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<v Speaker 1>The company is an extraordinary success story started by Mr

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<v Speaker 1>Bowing many many years ago. The company is how old now?

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<v Speaker 1>We're a hundred and two years this year, so we

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<v Speaker 1>celebrated our centennial. We did a big celebration event at

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<v Speaker 1>the Red Barn facility, which is where the Bowing company

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<v Speaker 1>started back in nineteen sixteen. Okay, so the company is

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<v Speaker 1>in very very good shape. The government is spending more

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<v Speaker 1>money in aerospace defense and before um people are flying

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<v Speaker 1>more than they are. So can it get a you

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<v Speaker 1>better than this? I tell you what, this is a

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<v Speaker 1>really strong marketplace. When I look at big industrial markets

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<v Speaker 1>around the world, aerospace market I think it is the strongest.

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<v Speaker 1>And one of the big drivers behind that is is

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<v Speaker 1>the population that's now entering the middle class and has

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<v Speaker 1>the ability to fly. And we have a hundred million

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<v Speaker 1>new passengers every year in Asia new passengers, and uh

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<v Speaker 1>our estimates are that less than twenty of the world's

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<v Speaker 1>population has even taken a single flight. So tremendous growth

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<v Speaker 1>opportunity ahead. And then, as you said, strengthen the defense

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<v Speaker 1>budget as well. The tax bill was passed and it's

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<v Speaker 1>a big tax cut for a lot of corporations, and

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<v Speaker 1>you were one of the companies that I think benefited

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<v Speaker 1>from it. And maybe we're pushing for this tax cut.

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<v Speaker 1>So what are you gonna do with all the extra

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<v Speaker 1>money that you have. So we plowed a lot of

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<v Speaker 1>those savings back into innovation in R and D, and

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<v Speaker 1>we spend billions of dollars every year on R and

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<v Speaker 1>D investment here in the US. And another big thing

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<v Speaker 1>we did is immediately upon passage of the bill, we

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<v Speaker 1>announced an investment of three hundred million dollars in our

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<v Speaker 1>workforce and workplace. So that includes a hundred million in

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<v Speaker 1>training for employees, a hundred million in infrastructure for the

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<v Speaker 1>future workspaces, and then a hundred million in community giving,

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<v Speaker 1>which is perhaps the most important part of that. And

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<v Speaker 1>UH that hundred million in community giving. Fact, today we're

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<v Speaker 1>going to be announcing the fact that we're identifying fifty

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<v Speaker 1>four million of specific grants and we're adding another five

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<v Speaker 1>million dollars to our investment in the Kennedy Center announced

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<v Speaker 1>I UH if you if you ever need tickets to Hamilton's,

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<v Speaker 1>call me deal. So let's talk about how UH, a

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<v Speaker 1>farm boy from Iowa became the head of Boeing. So

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<v Speaker 1>you grew up in Iowa. I did up in northwest Iowa,

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<v Speaker 1>just outside of a little town called Shoe Center, and

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<v Speaker 1>UH grew up on a farm, working on my dad's farm.

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<v Speaker 1>What kind of farm wasn't Well, we had a large

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<v Speaker 1>crop farm. Mostly we raised corn, soybeans, alfalfa, and we

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<v Speaker 1>had a lot of live stock, cattle, pigs, chickens, and

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<v Speaker 1>you were milking cows and everything. Every morning. I had

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<v Speaker 1>to milk cows. We uh we uh milked our own

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<v Speaker 1>cows for for our family's consumption. So that was part

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<v Speaker 1>of my daily chores in the morning. And you ever

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<v Speaker 1>said to them drink some mountain dew and they the

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<v Speaker 1>cows will produce, cows would be more productive or that.

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<v Speaker 1>That wasn't part of the diet plan when I was

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<v Speaker 1>a kid there, all right, So you went to Iowa State,

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<v Speaker 1>I did, And Iowa State you meant, uh you majored

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<v Speaker 1>in aeronautica space engineering. Okay, so were there a lot

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<v Speaker 1>of people doing that there? Yeah, it's it's it was

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<v Speaker 1>at that time one of the larger aerospace engineering schools

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<v Speaker 1>in the country. Continues to be. It does have some

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<v Speaker 1>bowing connections to T. A. Wilson, who was one of

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<v Speaker 1>one of Boeing's previous CEOs. Uh. He went to Iowa

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<v Speaker 1>State and uh, I actually when I went there, managed

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<v Speaker 1>somehow to get his scholarship and Uh. That led to

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<v Speaker 1>an opportunity for a Bowing internship. So between my junior

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<v Speaker 1>and senior years at Iowa State, I did an internship

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<v Speaker 1>at Bowing in Seattle, and I got hooked. Okay, I've

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<v Speaker 1>been there ever since. Well, you you've got a master's

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<v Speaker 1>degree at the University of Washington. Was that while you

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<v Speaker 1>were working at Boeing. Yeah, that was part of Boeing's education.

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<v Speaker 1>While you're working plan what was it that enabled you

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<v Speaker 1>to rise up among all those employees to be the

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<v Speaker 1>CEO you're implying it's hard to tell. Well, I just

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<v Speaker 1>want to give you a chance to tell everybody that

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<v Speaker 1>I already know well David, and you know frankly, Um,

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<v Speaker 1>I never worried too much about that. So I was

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<v Speaker 1>thrilled to go work at the world's best scerospace company.

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<v Speaker 1>I wanted to be a great designer of airplanes. I

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<v Speaker 1>had the chance to work with a lot of great

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<v Speaker 1>teams along the way, and I always tried to, you know,

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<v Speaker 1>find the hardest things to work on and just concentrate

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<v Speaker 1>on knocking that job out of the park. And that

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<v Speaker 1>may not sound like much of a career strategy, but

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<v Speaker 1>it worn't worked out. Okay, So at a very young age,

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<v Speaker 1>you were put in charge of running a program for

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<v Speaker 1>Boeing where they were trying to get the Joint Strike

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<v Speaker 1>UH fighter contract, which is the biggest contract the Pentagon's

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<v Speaker 1>every even Ultimately it went to another company called Lockheed Martin. Yep,

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<v Speaker 1>So you lost. When you lost, did you think your

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<v Speaker 1>career was over now? And it really wasn't even my

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<v Speaker 1>construct around that program. But in four years we went

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<v Speaker 1>from roughly a clean sheet of paper to flying two

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<v Speaker 1>x thirty two prototypes and uh clearly disappointed that in

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<v Speaker 1>the end we didn't win. But I learned a lot

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<v Speaker 1>as a leader, and you know, sometimes when things don't

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<v Speaker 1>work out, you learn even more. I can tell you

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<v Speaker 1>that the technology benefit from that program, the talent benefit,

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<v Speaker 1>how those people then subsequently spread out to the rest

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<v Speaker 1>of billing. He created a benefit that's lasted for for decades.

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<v Speaker 1>Early in the administration of President Trump said that the

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<v Speaker 1>Air Force one plane was too expensive and he wasn't

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<v Speaker 1>happy with the cost of it. Um, he got your attention.

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<v Speaker 1>I guess we're we're proud of the fact that we

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<v Speaker 1>build and support Air Force one. It's a really important mission.

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<v Speaker 1>The airplanes that are flying today. Are old seven forty

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<v Speaker 1>seven Dash two hundred actually delivered under George H. W.

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<v Speaker 1>Bush's administration. They're that old old at seven forty seven

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<v Speaker 1>is flying and we're proud to keep him flying. And

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<v Speaker 1>so the two new uh seven forty seven Dash eights,

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<v Speaker 1>the latest version of the seven seven where I just procured,

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<v Speaker 1>and those will be modified and become the new air

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<v Speaker 1>Force one over the next few years. So did you

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<v Speaker 1>convinced him to take up mike riding when you were

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<v Speaker 1>in marloggue? He didn't seem like that interested in that.

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<v Speaker 1>He is. He has his own hobby set and we

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<v Speaker 1>uh we uh we respect each other's hobbies. Alright. Airbus

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<v Speaker 1>is your main competitor, is that right? Yeah? And in

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<v Speaker 1>the commercial airplane commercial air airper space. Have you ever

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<v Speaker 1>tested out any airbuses? I've I've flown on him. Uh,

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<v Speaker 1>you know, It's not something I spent a lot of

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<v Speaker 1>time pursuing. Uh, but I would I would suggest if

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<v Speaker 1>you were to, you know, survey the crowd people that

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<v Speaker 1>have flown on both Airbus and Bowing generally the reports

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<v Speaker 1>that are people like flying on a Bowing airplane? All right,

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<v Speaker 1>but that's see how many people here prefer bowing. Okay, okay,

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<v Speaker 1>I guess I guess you're right on that they and

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<v Speaker 1>you have had what some people might call it duopoly,

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<v Speaker 1>which is really two manufacturers. Um, are you not worried

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<v Speaker 1>that the Chinese or the Japanese will ultimately get into

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<v Speaker 1>this business of making commercial airplanes. Well, we know that

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<v Speaker 1>future competitors are coming without question. And uh, you know,

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<v Speaker 1>the great thing is we have a very strong marketplace.

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<v Speaker 1>It's about a seven point six trillion dollar marketplace over

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<v Speaker 1>the next ten years. It's a growing industrial marketplace. It's

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<v Speaker 1>a marketplace that creates manufacturing jobs and technology ripple benefit.

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<v Speaker 1>China is clearly emerging as a very important commercial market

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<v Speaker 1>for us. They are also a future competitor. So the

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<v Speaker 1>the art of this business is to collaborate and compete,

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<v Speaker 1>and competition is going to make us better. The point

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<v Speaker 1>that the world is pursuing the aerospace market, uh, just

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<v Speaker 1>causes us to continue to invest in innovation. We win

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<v Speaker 1>because we continue to invest in innovation. We want a

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<v Speaker 1>big contract to produce air tank These are refueling planes

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<v Speaker 1>that enable our planes to be refueled. But it's behind

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<v Speaker 1>schedule or not. Well, we've had some challenges in the

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<v Speaker 1>development program, so we're behind the original schedule, but we

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<v Speaker 1>are on the cusp now of delivery. So I'm excited

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<v Speaker 1>to see this happen. Explane is how it works. You're

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<v Speaker 1>flying along on an airplane and they have another plane

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<v Speaker 1>come along. It's gonna refuel it. How hard is it

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<v Speaker 1>to get that little thing in there? Or combat operations

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<v Speaker 1>or air force operations. Obviously the skill of the pilot

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<v Speaker 1>the receiver of the fuel is important, and then the

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<v Speaker 1>new advanced systems on the new tanker assist with that.

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<v Speaker 1>So the refueling boom is more than fifty feet long,

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<v Speaker 1>it extends out of the back of the airplane. It

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<v Speaker 1>has wings on it, so you actually fly it, and

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<v Speaker 1>there's an operator inside the tanker that flies the boom

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<v Speaker 1>to the airplane and makes the connection. We've done more

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<v Speaker 1>than connections during the test program already, so that's part

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<v Speaker 1>of certifying the tanker. Do you make the F fifteen Okay,

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<v Speaker 1>have you ever been in that plane? Or I've had

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<v Speaker 1>a couple of flights in the F fifteen Eagle backseat, right,

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<v Speaker 1>so flying with a Boeing pilot, but a chance flying

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<v Speaker 1>the F fifteen Eagle and in our F eighteen super horriant. Uh,

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<v Speaker 1>I flowed in a patchie helicopter a few others to us,

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<v Speaker 1>what are the great parts of this job? Because I

0:12:26.440 --> 0:12:29.200
<v Speaker 1>occasionally get to fly. So when they do a barrel roll,

0:12:29.480 --> 0:12:31.480
<v Speaker 1>what is that like? Does I feel like fun? Or

0:12:31.520 --> 0:12:34.760
<v Speaker 1>is that's little nerve? That's fantastic? Yeah, in a in

0:12:34.800 --> 0:12:36.760
<v Speaker 1>a fighter jet, it's not really a barrel roll. It's

0:12:36.760 --> 0:12:41.120
<v Speaker 1>more of a snap roll, right luster. But uh yeah,

0:12:41.160 --> 0:12:42.920
<v Speaker 1>we uh, we had the chance to go up and

0:12:42.920 --> 0:12:45.880
<v Speaker 1>do a few maneuvers. The pilot that flies the CEO

0:12:46.120 --> 0:12:48.480
<v Speaker 1>has had a special job or they tell the pilot

0:12:48.520 --> 0:12:50.760
<v Speaker 1>be very careful, this is the CEO, and time that

0:12:50.800 --> 0:12:54.320
<v Speaker 1>goes wrong, your job is over. We have great test pilots,

0:12:55.320 --> 0:12:58.079
<v Speaker 1>all right, yeah, and and it's it's it's nice to

0:12:58.120 --> 0:12:59.880
<v Speaker 1>go up on one of these tests because you kind

0:12:59.880 --> 0:13:03.280
<v Speaker 1>of get calibrated. They get you accustomed to the airplane. Now,

0:13:03.480 --> 0:13:05.520
<v Speaker 1>let's take the Boeing plane that most people are probably

0:13:05.520 --> 0:13:08.040
<v Speaker 1>familiar with, the seven thirty seven or seven forty seven

0:13:08.120 --> 0:13:11.000
<v Speaker 1>so forth. On those planes, um, can they ever be

0:13:11.120 --> 0:13:14.120
<v Speaker 1>flown without a pilot? Well, we we were going to

0:13:14.280 --> 0:13:16.320
<v Speaker 1>continue to have a strong need for pilots in fact,

0:13:16.320 --> 0:13:20.160
<v Speaker 1>pilots are in short supply worldwide for commercial airplanes. Uh.

0:13:20.200 --> 0:13:24.000
<v Speaker 1>That said, we're also continuously working on these autonomous vehicle technologies.

0:13:24.080 --> 0:13:27.559
<v Speaker 1>So there's a lot of automation already in today's airplanes

0:13:27.720 --> 0:13:31.319
<v Speaker 1>that can assist the pilot, and that technology continues to

0:13:31.360 --> 0:13:34.240
<v Speaker 1>mature rapidly, so we're building it into our future airplanes.

0:13:34.400 --> 0:13:36.800
<v Speaker 1>Have you ever thought of having the bathrooms in the

0:13:36.840 --> 0:13:40.200
<v Speaker 1>planes bigger? Because I noticed they're really small. You know,

0:13:40.240 --> 0:13:42.000
<v Speaker 1>if you want to change clothes or something to get

0:13:42.080 --> 0:13:43.840
<v Speaker 1>ready for somebody else, it's really hard. Has that ever

0:13:43.840 --> 0:13:47.680
<v Speaker 1>been a problem anybody's mentioned plane? Again, our our airline

0:13:47.720 --> 0:13:52.760
<v Speaker 1>customers typically select the laboratory geometry, and we we support that.

0:13:53.080 --> 0:13:55.000
<v Speaker 1>I will say, if if you'd like to get a

0:13:55.080 --> 0:13:59.000
<v Speaker 1>b b J, we could tailor the laboratory for you

0:13:59.440 --> 0:14:02.719
<v Speaker 1>so more flexibility. You have people that can you can

0:14:02.720 --> 0:14:04.320
<v Speaker 1>try it out for like six months and see if

0:14:04.360 --> 0:14:06.880
<v Speaker 1>you like the DBJ befall you. You don't have that

0:14:06.920 --> 0:14:11.200
<v Speaker 1>program for first select customer. So let's talk about the

0:14:11.240 --> 0:14:14.040
<v Speaker 1>space program. NASA isn't doing everything it used to do.

0:14:14.520 --> 0:14:18.040
<v Speaker 1>Um is the commercial sector? Are you now actually designing

0:14:18.080 --> 0:14:20.600
<v Speaker 1>the missile, the rockets and what is the plan that

0:14:20.640 --> 0:14:22.960
<v Speaker 1>you have is to take out a rocket to the

0:14:23.040 --> 0:14:25.840
<v Speaker 1>Moon again and to Mars. I think this is the

0:14:25.880 --> 0:14:28.720
<v Speaker 1>most exciting time in h in our country space program

0:14:28.800 --> 0:14:31.920
<v Speaker 1>in decades, and we're literally working on things now that

0:14:31.960 --> 0:14:34.360
<v Speaker 1>are bigger than the Apollo program. I'm not sure it's

0:14:34.360 --> 0:14:36.640
<v Speaker 1>as well known across the country, but we are in

0:14:36.680 --> 0:14:40.800
<v Speaker 1>the midst of a space transformation in this country, and

0:14:41.040 --> 0:14:45.440
<v Speaker 1>the commercial UH entrants here are adding energy. We're building

0:14:45.480 --> 0:14:48.240
<v Speaker 1>a new CST one D star Liner, which will be

0:14:48.280 --> 0:14:51.000
<v Speaker 1>the first American made capsule to get us back to

0:14:51.080 --> 0:14:53.600
<v Speaker 1>the space station. And we're building the new rocket to

0:14:53.680 --> 0:14:56.960
<v Speaker 1>Mars with NASA and this new space Lodge system. It's

0:14:56.960 --> 0:15:00.560
<v Speaker 1>a rocket that's about thirty eight stories tall, about nine

0:15:00.560 --> 0:15:03.400
<v Speaker 1>point two million pounds of thrust. You want to put

0:15:03.400 --> 0:15:06.280
<v Speaker 1>that in car urbs. It's a about two hundred seven

0:15:06.640 --> 0:15:10.640
<v Speaker 1>thousand Corvette engines, and UH we're gonna do first test

0:15:10.720 --> 0:15:13.160
<v Speaker 1>launch here over the next couple of years. We're gonna

0:15:13.200 --> 0:15:16.400
<v Speaker 1>do a slingshot mission to the Moon, returned to the Moon,

0:15:16.840 --> 0:15:18.800
<v Speaker 1>set up a lunar gateway, and then we're gonna go

0:15:18.800 --> 0:15:21.400
<v Speaker 1>to Mars, and the first person to step foot on

0:15:21.440 --> 0:15:23.760
<v Speaker 1>Mars is going to get there on a bowing rocket.

0:15:23.960 --> 0:15:29.760
<v Speaker 1>Really well, they come back on a bowing rocket, all right. Um,

0:15:29.800 --> 0:15:33.960
<v Speaker 1>and and in uh, in Boeing's version of the space business,

0:15:34.400 --> 0:15:37.640
<v Speaker 1>it's always a two way trip, okay, but it takes

0:15:37.680 --> 0:15:39.680
<v Speaker 1>six months to get the Mars more or less right,

0:15:39.800 --> 0:15:42.560
<v Speaker 1>six months on that order. Okay, Remember there was a

0:15:42.600 --> 0:15:46.239
<v Speaker 1>plane called the Concorde. Why do we not have a

0:15:46.240 --> 0:15:50.080
<v Speaker 1>supersonic transport any Long's it's the economic hurdle that goes

0:15:50.120 --> 0:15:53.760
<v Speaker 1>with it. That airplane was never economically viable on its own,

0:15:53.960 --> 0:15:57.120
<v Speaker 1>and UH, to fly supersonic you burn two to three

0:15:57.120 --> 0:16:00.200
<v Speaker 1>times as much fuel. I do envision a day where

0:16:00.240 --> 0:16:02.240
<v Speaker 1>not only will we see commercial airplanes that look like

0:16:02.280 --> 0:16:05.880
<v Speaker 1>today's airplanes, but we'll see high speed airplanes that connect

0:16:05.880 --> 0:16:08.000
<v Speaker 1>any two cities in the world in about two hours.

0:16:08.600 --> 0:16:12.040
<v Speaker 1>And then we'll see that span up to UH space tourism,

0:16:12.160 --> 0:16:16.920
<v Speaker 1>and eventually we'll see an economically viable space ecosystem in

0:16:16.960 --> 0:16:20.560
<v Speaker 1>lower thorbit and UH you'll see an intersection between commercial

0:16:20.600 --> 0:16:24.880
<v Speaker 1>air travel, high speed travel, and space travel. And that's

0:16:24.920 --> 0:16:26.880
<v Speaker 1>all going to evolve over the next couple of decades.

0:16:27.080 --> 0:16:29.440
<v Speaker 1>You had a very nice name called Dreamliner. I mean,

0:16:29.480 --> 0:16:32.480
<v Speaker 1>if somebody thought that up it was. It sounds great. Um,

0:16:32.520 --> 0:16:34.320
<v Speaker 1>but how come you to name your other planes? Like

0:16:34.360 --> 0:16:36.440
<v Speaker 1>the seven forty seven doesn't have a nice name like

0:16:36.480 --> 0:16:38.680
<v Speaker 1>that or seven thirty seven. How come you don't have

0:16:38.720 --> 0:16:41.160
<v Speaker 1>a name for all of them? Well, maybe that's something

0:16:41.200 --> 0:16:43.840
<v Speaker 1>we'll look at. Well, can I get a fee for

0:16:43.920 --> 0:16:47.680
<v Speaker 1>coming up with that idea or something? Yeah, we could

0:16:47.760 --> 0:16:50.600
<v Speaker 1>consider that, all right, could be you know again, if

0:16:50.600 --> 0:16:52.640
<v Speaker 1>you want to get into the b BJ market, that

0:16:52.760 --> 0:16:55.480
<v Speaker 1>could be some consideration. Well, I'm thinking about it. I

0:16:55.520 --> 0:16:59.240
<v Speaker 1>just need a six month trial. When you're talking to

0:16:59.320 --> 0:17:02.200
<v Speaker 1>members of Congress for people in the administration, um are

0:17:02.360 --> 0:17:04.760
<v Speaker 1>what is the biggest concern that you have educating them

0:17:04.800 --> 0:17:07.840
<v Speaker 1>about what you actually do? Right now, trade policy is

0:17:08.200 --> 0:17:10.919
<v Speaker 1>really important item for US, and as we think about

0:17:11.600 --> 0:17:14.440
<v Speaker 1>effective trade agreements around the world, and certainly we want

0:17:14.440 --> 0:17:17.000
<v Speaker 1>to level playing field around the world. We want to

0:17:17.000 --> 0:17:20.800
<v Speaker 1>be able to compete and win. We have about of

0:17:20.800 --> 0:17:24.840
<v Speaker 1>our manufacturing here in the US, but we sell about

0:17:24.880 --> 0:17:28.520
<v Speaker 1>seventy of our products outside the US. So think about

0:17:28.520 --> 0:17:32.720
<v Speaker 1>trade surplus. The aerospace sector creates the biggest trade surplus

0:17:32.760 --> 0:17:35.480
<v Speaker 1>of any sector in the country, and so we need

0:17:35.520 --> 0:17:39.000
<v Speaker 1>trade agreements that allow us to compete globally to sell globally,

0:17:39.440 --> 0:17:42.040
<v Speaker 1>and that's part of what creates us manufacturing jobs. So

0:17:42.280 --> 0:17:45.040
<v Speaker 1>that's an area of discussion, active discussion right now. What

0:17:45.080 --> 0:17:47.639
<v Speaker 1>about the tariffs. We don't see the current tariffs as

0:17:47.680 --> 0:17:50.840
<v Speaker 1>having a material effect on our business, but it is

0:17:50.880 --> 0:17:53.760
<v Speaker 1>something we're watching because it's the broader question of of

0:17:53.840 --> 0:17:57.600
<v Speaker 1>trade relationships and effective trade agreements around the world. So

0:17:57.680 --> 0:18:00.359
<v Speaker 1>we've seen a lot of leaders up front, business leaders,

0:18:00.359 --> 0:18:03.960
<v Speaker 1>government leaders. What do you think makes a great leader? Well,

0:18:04.119 --> 0:18:06.760
<v Speaker 1>you know, I get to ask that question. I thought

0:18:06.760 --> 0:18:09.960
<v Speaker 1>that was original. I thought nobody else that's a good question. Well,

0:18:10.000 --> 0:18:12.520
<v Speaker 1>you know, when I when I look at all the

0:18:12.520 --> 0:18:15.080
<v Speaker 1>dimensions of being a leader, frankly, it goes back to

0:18:15.119 --> 0:18:18.040
<v Speaker 1>a lot of what I learned growing up on that

0:18:18.080 --> 0:18:20.439
<v Speaker 1>farm in Iowa. I learned a lot from my parents

0:18:20.920 --> 0:18:25.520
<v Speaker 1>and the value of hard work, integrity, how you treat

0:18:25.560 --> 0:18:28.880
<v Speaker 1>other people, how we respect others, are willingness to bring

0:18:29.240 --> 0:18:34.040
<v Speaker 1>diverse ideas to the table. Those all sounds simple, and

0:18:34.280 --> 0:18:35.960
<v Speaker 1>you know, things I learned from my dad, who was

0:18:36.040 --> 0:18:39.960
<v Speaker 1>never a businessman, but they apply in the business world.

0:18:40.040 --> 0:18:43.640
<v Speaker 1>And I think sticking to those fundamentals and always reminding

0:18:43.680 --> 0:18:47.800
<v Speaker 1>yourself the importance of integrity, your reputation, how you treat others,

0:18:48.400 --> 0:18:51.240
<v Speaker 1>and then having an element of being able to inspire,

0:18:51.800 --> 0:18:54.160
<v Speaker 1>you know, those that work around you. And uh, we

0:18:54.160 --> 0:18:56.600
<v Speaker 1>we try to codify those at Boeing and what we

0:18:56.680 --> 0:19:00.720
<v Speaker 1>call our enduring values and our Bowing behaviors, but they

0:19:00.720 --> 0:19:02.919
<v Speaker 1>get back to those fundamentals of who you are as

0:19:02.960 --> 0:19:05.239
<v Speaker 1>a person and how you treat others. How did your

0:19:05.280 --> 0:19:08.520
<v Speaker 1>parents lived to see your success? They did. My my

0:19:08.600 --> 0:19:10.320
<v Speaker 1>father passed away a couple of years ago, but he

0:19:10.720 --> 0:19:15.199
<v Speaker 1>lived a long, robust life, and my mom is still around.

0:19:15.480 --> 0:19:17.919
<v Speaker 1>And I'm never quite sure they knew exactly what I

0:19:17.920 --> 0:19:21.280
<v Speaker 1>did when I started at bowing. Uh. Of course, coming

0:19:21.280 --> 0:19:23.879
<v Speaker 1>from the farm, I started bowing my as an engineer,

0:19:24.240 --> 0:19:26.200
<v Speaker 1>and my dad would often ask me, say, so, Dennis,

0:19:26.320 --> 0:19:28.760
<v Speaker 1>how did it go today? What did you do? And uh?

0:19:28.800 --> 0:19:30.679
<v Speaker 1>I described it, and you know he would kind of

0:19:30.680 --> 0:19:33.520
<v Speaker 1>get it, and uh, you know, his designing airplanes, it

0:19:33.560 --> 0:19:36.440
<v Speaker 1>was real stuff. And then as I got to more

0:19:36.480 --> 0:19:39.800
<v Speaker 1>elevated positions, got two executive positions, he asked me the

0:19:39.840 --> 0:19:42.399
<v Speaker 1>same questions and Dennis, what did you do today? And

0:19:42.440 --> 0:19:44.679
<v Speaker 1>I describe it, and you know, I was excited about it.

0:19:45.160 --> 0:19:47.840
<v Speaker 1>He would pause and say well, Dennis, what did you

0:19:47.920 --> 0:19:53.440
<v Speaker 1>actually do today. It's a good reminder, right, does your

0:19:53.480 --> 0:19:55.440
<v Speaker 1>mother ever called you to say well, She's