WSJ: Boeing Chair Jim McNerney Eyes Reauthorization of U.S. Export-Import Bank

Jim McNerney
Jim McNerney

Boeing Chairman Jim McNerney believes that Congress will renew the mandate of the U.S. Export-Import Bank in order to support U.S. competitiveness within the global market, the Wall Street Journal reported Thursday.

Robbie Whelan writes that McNerney has pointed to lost business with potential overseas customers following the June 30 expiration of the bank’s mandate.

“Customers require guarantees. Europe has them, and we don’t,” McNerney said at a recent aviation event, according to the report.

The report said the closure of the bank, which provides financing to international customers of U.S. companies, has led to the cancellation of a potential $85 million satellite contract for Boeing and General Electric‘s plan to move 1,000 new jobs to the U.K.

“You have to evaluate some parts of your supply chain being able to access financing (if it) isn’t available in your country,” McNerney added.

You may also be interested in...

NEXT-C Johns Hopkins APL photo

Johns Hopkins APL Helps Equip DART Spacecraft With NASA-Made Propulsion Tech

Johns Hopkins University Applied Physics Laboratory has incorporated a propulsion technology built by NASA into a spacecraft designed to support the agency's demonstration of its first planetary defense capability.


CompTIA Receives DoD OK for Penetration Testing Certification

The Department of Defense has approved a CompTIA certification exam designed to measure cybersecurity skills necessary to conduct penetration testing and manage vulnerabilities in an information technology system.

50W Ka-band BUC

Gilat Subsidiary to Deliver Ka-Band Block Upconverter for Military Comms Program

Gilat Satellite Networks' Wavestream subsidiary has secured a delivery order of an undisclosed sum to provide a high-power 50-watt Ka-band block upconverter in support of a U.S. military communications program.