After six delays and nearly a decade of an-ticipation, Boeing says its 787 Dreamliner will finally make its first flight by the end of the year and that de-liveries of the next-generation airliner will begin in late 2010. Sounds good, but Wall Street's not buying it. In a scathing downgrade, Morgan Stanley analyst Heidi Wood cast serious doubt on Boeing's ability to achieve either goal, citing concerns that the 787 won't get airborne until 2010, and that Boeing won't start delivering any of the 840 planes on order until spring 2011. In a conference call last week announcing a $1.6 billion third-quarter loss, Boeing CEO Jim McNemey concluded, "We know we can and must do better on our development programs."
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