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☆ Exxon Suit Over Activist Investor’s Climate Proposal Is Dismissed
▼ + stars: | 2024-06-17 | by ( Sydney Ember | More About Sydney Ember | ) www.nytimes.com time to read: +1 min

A federal judge in Texas on Monday dismissed a lawsuit that Exxon Mobil had filed against an activist investor, Arjuna Capital, over a shareholder proposal that called for cuts in the oil giant’s greenhouse gas emissions. Judge Mark T. Pittman of U.S. District Court for the Northern District of Texas ruled that because Arjuna had withdrawn its proposal and had vowed not to submit similar proposals, Exxon’s claim was moot. “The trend of shareholder activism in this country isn’t going anywhere,” Judge Pittman wrote, but he added that “the court cannot advise Exxon of its rights without a live case or controversy to trigger jurisdiction.”Exxon sued Arjuna and another investor, Follow This, in January to stop their nonbinding resolution from going to a vote of shareholders. A month earlier, Arjuna had filed a proposal for the resolution, which called on Exxon to accelerate its plans to reduce its carbon emissions “and to summarize new plans, targets and timetables,” according to Exxon’s complaint. Follow This then joined in support, the complaint said.

Persons: Arjuna Capital, Mark T, Pittman, Arjuna, Exxon Organizations: Exxon Mobil, U.S, Northern, Northern District of, Exxon Locations: Texas, Northern District, Northern District of Texas

Quality concerns and production slowdowns. Boeing is an American institution that has contributed to the country’s place on the global stage. As business reporters at The New York Times, we have for years been covering Boeing and concerns over the quality of the planes it makes. We want to hear from people who work — or have worked — at Boeing or at companies, government agencies or other organizations that deal with Boeing about what the company is doing wrong or right. We will not publish any part of your submission without following up with you again to get your permission.

Organizations: Boeing, The New York Times, Airbus, Alaska Airlines Locations: American

Boeing said on Friday that it was in talks to acquire Spirit AeroSystems, a struggling supplier that the manufacturer spun out nearly two decades ago and that makes the bodies of the 737 Max jet. In reabsorbing Spirit, Boeing would be seeking to rescue and restructure a troubled but important partner that has been battered by years of losses and quality control problems. Spirit’s problems have also at times limited how fast Boeing can produce Max planes, its most popular commercial jet. Bringing Spirit, one of the company’s key suppliers, back in house would be a significant strategic shift for Boeing, which has long relied on outsourcing to make its planes. Experts say the episode could have been catastrophic had it happened at a higher altitude with passengers moving about the cabin.

Organizations: Boeing, Alaska Airlines

☆ Boeing Suspends Financial Outlook as It Focuses on Safety
▼ + stars: | 2024-01-31 | by ( Sydney Ember | More About Sydney Ember | ) www.nytimes.com time to read: +1 min

Boeing on Wednesday said that it would not provide a full-year financial forecast, the clearest indication yet that the company is trying to assure customers that it is prioritizing safety amid growing concerns about its popular 737 Max jets. Even as it announced its quarterly earnings, the company chose to focus instead on discussing quality control. Boeing is trying to stem the fallout from an incident less than four weeks ago in which a hole blew open on an Alaska Airlines 737 Max 9 plane shortly after takeoff. “While we often use this time of year to share or update our financial and operational objectives, now is not the time for that,” Boeing’s chief executive, Dave Calhoun, wrote in a message to employees. Quality concerns have taken on new urgency after news accounts, including in The New York Times, that Boeing workers opened and reinstalled the panel that blew off the plane, known as a door plug.

Persons: ”, Dave Calhoun Organizations: Boeing, Alaska Airlines, The New York Times

On Thursdays and Fridays, his shifts typically began in the afternoon. Only eight or nine hours separated the end of some shifts from the beginning of others. “So much for a two-day weekend,” he said this summer, on what was supposed to be a day off. He eventually went to a doctor, who diagnosed him with sleep apnea and told him to quit his job because the schedule was endangering his health. It was the overtime that made the job intolerable, even though the extra hours added 25 percent to his roughly $150,000 salary.

Persons: ”, “

Do You Work in Aviation and Have Concerns About Safety? We Want to Hear From You. Close calls involving commercial airlines happen far more frequently than the flying public realizes, a Times investigation has found. We want to hear from people working in aviation about safety issues. Share full article

Organizations: Aviation, Times

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