Send Boeing the bill
The Czech state is going to have to pay Kč 2bn to
Petrcíle to settle the arbitration dispute regarding Nová
Hu steelworks and up to Kč 1bn to get Boeing to leave
Aero. Both payments could have been avoided if the
state were willing to let dead companies die or be
reorganized. However, blindly saving jobs has been the
priority. The state hasn't been willing to use the threat of
bankruptcy, and this has strengthened the positions of
Petrcíle and Boeing. It's too late in the case of Petrcíle,
but something can still be done at Aero. Boeing has
acknowledged that Aero has a negative net worth, and
Aero's own president claims that Boeing is the one
driving it into the ground. Instead of paying Boeing to
leave, the state should present Boeing with an invoice
for its share of the mess. This might not be contractually
enforceable, but it'd put the matter in the right
perspective. Vodochody
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