On This Day In Finance: July 15 - Aerospace Giant Boeing Founded
On July 15, 1916, William E. Boeing incorporated what would
become one of the largest global aircraft manufacturers in the
world. At inception, the company was actually called the
"Pacific Aero Products Co." but a year later, William Boeing
would rename it the Boeing Airplane Company, after himself. The
first aircraft produced for sale by Boeing was called the "B&W,"
which stood for Boeing and Westervelt - George Westervelt was a
good friend of Will Boeing. The plane was a two-seater seaplane
powered by a 125hp Hall-Scott A-5 engine.  William Boeing first
tried to sell the B&W to the U.S. Navy, but they decided to pass
on the plane. Instead, Boeing managed to sell the first two B&W
planes to the New Zealand Flying School. The planes did not
disappoint, as they were used to make the first airmail flights
in New Zealand history.  Boeing finally made some headway into
the lucrative market in the U.S. in 1917, when two Model C
airplanes were sent to