Airbus - Expect Goodies not Profits

The bad news at Airbus just keeps coming. Now its new chief executive has resigned only three months on the job. Looks like Mr. Streiff just could not handle the politicians and technocrats who have different goals than ridding the company of stifling bureaucrats. I particularly enjoyed this quote in the Wall Street Journal story by Dan Michaels:

The structure of Airbus -- created in 1970 by technocrats in France, Germany, Britain and Spain -- is rooted in its origins as a consortium and has long proved more effective at spreading jobs and tapping subsidies than generating profits.