Airlines are making money again, and Boeing's new business is way up. Its orders for 98 planes this year are worth $5.5 billion, four times what it had booked a year ago. Just the time for--more layoffs? On May 23, Boeing said it would cut 5,000 jobs, atop the 7,000 announced three months ago. The company says it has to meet carriers' demands for cheaper planes. That's fine with investors, who pushed the stock to 57, just short of the all-time high it hit in 1990.

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