Snags on a plane

With the bad news literally raining down, I was heartened to see that industrial America is raising its game. Take Boeing as an example. They have now committed to "improvements" following a spate of screw-ups in their military division. They included goodies like slashed wires, errant washers and rogue rivet caps.

If that's the way Boeing treats its key customer, I dread to think what's going in the commercial division. And yet the stock is trading at pretty hefty multiples - there's mystery in the stock market air.