> - hedging currency risk, locking in stable fuel prices, avoiding interest rate shocks.
I like these things. I have a lot of friends who are very passionate about finance and do very hard and valuable work in domains like that. Some do truly extraordinary work that goes on completely behind the scenes and makes markets serve businesses better.
I guess what I don't like is when non-financial businesses get into the business of offering financial products. I would hope operationally they take advantage of smart financial engineering on the backend, but instead of spending valuable time in front of customers talking about credit cards, they should be talking about the thing they make (engines, air travel, clothing, retail, respectively).
(Note: perhaps there's a better term for what I'm complaining about than "financial engineering")