Earlier quoted context omitted.
He initially turned down the job because he felt that a lawyer wasn't the right person to run an engineering company, and from reports of people who worked with him he knew his knowledge limits and listened to the engineers. He took serious risks with the 707 and 747 projects because he trusted the people who understood the technology. MBAs and final-gasp lawyers concentrate on making the reported number go up in the…
Hmm, you now highlighted an interesting thing - every company (I've seen) being run to the ground by MBAs and Lawyers was done so because they outright refused to trust their employees. The usual playbook is severance of any transparency and communication and implementation of more and more paperwork and oversight over their employees with no nuance. In other words - complete lack of trust into employed specialists b…
Both the 707 and 747 were "bet the company" projects, in particular the 747 pushed Boeing to the brink of bankruptcy. However both were major successes because they took a gamble on the future of the aviation industry.
In these days of "fiduciary responsibility" it's difficult to imagine any public company taking that kind of risk. Risk is what should make returns.