Don’t diss Donnie
Did Trump cause Boeing’s stock to plummet in a fit of temper? Philip Bump at the Washington Post wonders.
The tweet was this morning.
Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!
— Donald J. Trump (@realDonaldTrump) December 6, 2016
What inspired him this time?
CNN’s Jake Tapper noted on Twitter that shortly before the tweet (which was posted at 8:52 a.m. Eastern) the Chicago Tribune posted an article quoting the company’s CEO, Dennis Muilenberg. (The comments were made at a speech on Friday, not in an interview with the Tribune, as this article originally indicated.)
“Anyone who paid attention to the recent campaigns and the election results realizes that one of the overarching themes was apprehension about free and fair trade,” Muilenberg said at the Illinois Manufacturing Association last week, as noted by Tribune columnist Robert Reed. Fair trade has helped Boeing, which prides itself on being America’s largest manufacturing exporter.
“Last year, we delivered 495 737s from our factory in Renton, Wash., to customers around the world,” Muilenberg continued, noting that a third of the planes were sent to China. “This phenomenon would have been unimaginable when I started at the company in 1985.”
Those are pointed comments. It was Trump, of course, who robustly criticized free trade during the general election. And it is Trump who, this week, seemed to threaten a trade war with China.
In other words Muilenberg disrespected Donnie from Queens.
That story has a dateline of 7:30 Central time — 8:30 Eastern. Trump’s tweet came out a few minutes later.
We don’t know that Trump was responding to the Tribune story. We do know that the last time he tweeted an out-of-the-blue opinion, about flag-burning, it was immediately after a Fox News segment showing students burning flags.
We also know that Trump’s tweet tanked Boeing’s stock price, albeit only briefly.
Mature and responsible as always.
Boeing should just threaten to move their production offshore.
I’m sensing a day-trading opportunity here: monitor Donnie’s tweets, short the companies he bad-mouths, then snap up that same stock when the news cools off a few hours later.
Seth, I read today that somebody is already developing an algorithm for that