Much has changed for the world's largest aerospace company in the past year, and not all for the worse. The 757 has been axed, but the 7E7 has been launched. The US Air Force's 767 aerial-refuelling tanker is stalled, but the 737 will be the US Navy's next maritime-patrol aircraft. Two senior executives have been fired over ethics violations, but bluff Harry Stonecipher has replaced amiable Phil Condit as chief executive and is busy repairing the damage. The defence business is booming, the commercial business is recovering, and Boeing is back in favour with Wall Street.