Today I just read the Ethopian Flight 302 Preliminary Report on the Boeing 737 Max 8 Crash. Basically, it's the Boeing's fault in their design which lead to the crash, the pilot was very competent despite being 29. A little bit about this news. Basically back in the days when Boeing tried to compete with Airbus's new 320NEO, they had to come out with a new model. To save costs, they decided to put 2 stronger and more efficient engines on the old Boeing 737 NG Airframe (old aircraft new engines). But due to the large size of the engines, the had to place it a bit more forward on the wings, so there's a risk of Aerodynamic stall when the engine thrust is applied (plane losing it's lift - means cannot fly liao, drop like a stone, even if the engines turning), so to counter this, Boeing had 2 choices: redesign the airframe or counter this with a software: known as Maneuvering Characteristics Augmentation System (MCAS in short), that's the software that killed all the passengers in Lion Air Flight 610 and this recent Ethiopian flight. Basically the MCAS will push the aircraft's nose downwards to prevent a stall, but what happened in Flight 302 was that the Angle of Attack (AoA) sensors were faulty and gave bad readings, so they MCAS was triggered without any reason for it to, and kept pushing the nose down of the aircraft until it crashed (in summary lah, it doesn't push all the way, there's a 5-10 seconds delay between each activation). CLEARLY IT'S BOEING'S FAULT, TRYING TO CUT COSTS, CUT CORNERS THAT LEAD TO THE DEATH OF THESE PEOPLE!
I think I have came to a very deep realization which is CHARACTER is ONE OF THE MOST if not THE MOST components in a company. If the LEADERS at the top have dodgy characters, such as Boeing, trying to cut corners, in order to outcompete their main competitors AIRBUS at the risks of human lives, this is definitely a NO for me! No matter how many planes you make, if you don't put safety as the most important priority, it's against humanity and people who invest in it be damned!
This applies to pharmaceutical companies as well. I understand the R&D can cost a lot of money but if you start going to charge people absurd prices for life saving drugs, that's a CHARACTER problem of the management as well. I think I read somewhere in Choivo boy's article about Valiant Pharma or something, basically that company just takeovers other drug companies and then raise the drug prices by 10 - 20 folds (roughly), just raise a lot to make more profit for the company so that CEO could get all the restricted equity. Clearly this person has no INTEGRITY, NO REGARDS for the LIFEs of the people depending on the drug.
Which brings me back to the point of this posts: that is A GOOD MANAGEMENT TEAM IS VERY IMPORTANT, YOU NEED TO HAVE PEOPLE WHO HAVE INTEGRITY, GOOD CHARACTER EVEN THEIR MAIN OBJECTIVES IS TO MAKE PROFIT.
I THINK THIS IS SOMETHING VERY DIFFICULT TO GET IN A CAPITALIST SOCIETY!
Sincerely,
Heavenly PUNTER!
https://klse.i3investor.com/blogs/Day3/201256.jsp
