Sorry, Boeing, the Yacht Had to Go
A $13 million price tag for a corporate perk is pennies compared with the aerospace giant's huge debt burden, but at this point every bit helps.
For all of Boeing’s troubles, a mega-yacht was the last thing it needed.
Photographer: Bryan van der Beek/Bloomberg
How tight is Boeing Co. on cash? The planemaker is reportedly parting with a luxury mega-yacht it had kept around to wine and dine potential clients.
Boeing sold the 130-foot sea cruiser to an unidentified California property developer for $13 million, according to the Puget Sound Business Journal. The transaction moved quickly and skipped usual pre-purchase inspections, the business news site said. It’s just the latest in an accelerated dismantling of an American manufacturing powerhouse that just two years ago could seemingly do no wrong.