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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

The Justice Department is reviewing whether an early January incident in which a part of a Boeing plane blew out in midflight violated a 2021 agreement to settle a criminal charge against the company, according to a person familiar with the review. Boeing agreed to pay more than $2.5 billion to settle the charge, which stemmed from two fatal crashes of its 737 Max 8 planes. The Justice Department agreed to drop a criminal charge that was based on the actions of two employees who had withheld information from the F.A.A. There were no serious injuries, but the incident could have been catastrophic had it occurred minutes later, at a higher altitude. The panel is known as a “door plug,” which is used to cover a gap left by an unneeded exit door.

Persons: Trump Organizations: Boeing, Justice Department Locations: midflight, Portland ,

☆ Boeing’s Safety Culture Faulted by F.A.A. in New Report
▼ + stars: | 2024-02-26 | by ( Niraj Chokshi | More About Niraj Chokshi | ) www.nytimes.com time to read: 1 min

A Federal Aviation Administration report released on Monday found flaws in Boeing’s safety culture while noting that the airplane manufacturer had made some improvements since two fatal crashes involving the 737 Max 8 jet in 2018 and 2019. The report, written by a group of experts convened a year ago at Congress’ behest, found that there was a “disconnect” between senior management and other employees at Boeing. The company, the panel found, has at times been “inadequate and confusing,” in the way it carried out its safety culture. said that it would “immediately begin a thorough review of the report” and take action on its recommendations as appropriate. “We will continue to hold Boeing to the highest standard of safety and will work to ensure the company comprehensively addresses these recommendations,” the agency said.

Persons: “ Organizations: Federal Aviation Administration, Boeing

☆ Wall Street is loving AI while Big Tech is warning employees about how they use it
▼ + stars: | 2024-02-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .

Persons: —, It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago

☆ Wayfair CEO says laying off workers has turned out great
▼ + stars: | 2024-02-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: 1 min

AdvertisementLaying off workers over and over is working out great for Wayfair, according to the company's leaders. On Thursday, Wayfair CEO Niraj Shah wrote in a letter to shareholders — co-signed by co-founder and co-chairman Steve Conine — that several rounds of layoffs over the last year-and-a-half have helped the company become leaner and meaner. "While it is early, it does seem like we are getting more done, and faster, and at a lower cost," Shah and Conine wrote in the letter. "It also feels like we have the right level leaders in charge of the right things." This story is available exclusively to Business Insider subscribers.

Persons: Niraj Shah, Steve Conine —, Shah, Conine Organizations: —, Business

☆ Boeing 737 Max Official Is Out as Questions Linger on Mishap
▼ + stars: | 2024-02-21 | by ( Sydney Ember | Niraj Chokshi | ) www.nytimes.com time to read: +1 min

Boeing said on Wednesday that it was shaking up the leadership in its commercial airplanes unit after a harrowing incident last month during which a piece fell off a 737 Max 9 jet in flight. Ed Clark, the head of Boeing’s 737 Max program, which includes the Max 9, is leaving immediately, Stan Deal, the chief executive of the commercial airplanes unit, said in a memo to employees. Boeing, which also announced other leadership changes, has been under pressure from regulators, airlines and members of Congress to prove that it is committed to making safe planes. Boeing said recently that it was overhauling its quality control process, including increased inspections at the factory in Renton, Wash., where Mr. Clark oversaw Max production. Those crashes cost Boeing billions of dollars, damaged its image and attracted more scrutiny of the company from regulators worldwide.

Persons: Ed Clark, Stan Deal, Clark, Max Organizations: Boeing, Alaska Airlines, Max Locations: Renton, Wash, Alaska

☆ It looks like remote workers are getting the boot once again
▼ + stars: | 2024-01-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

A bunch of executives at e-commerce firm Wayfair singled out remote workers as the ones who were more likely to have been laid off in a fresh round of cuts, The Wall Street Journal. The targeting of remote workers will come as little surprise for many, given the ugly battle that's been raging over remote work in recent months. Some bosses such as Elon Musk have disparaged remote workers as lazy members of the "laptop classes living in la la land," and called out the practice as "morally wrong." However, the Wayfair layoffs are a reminder that remote workers are in grave danger if their managers don't believe they're putting in the hours away from the office. Many remote workers will be feeling more vulnerable than ever.

Persons: —, Wayfair, Niraj Shah, Shah, Elon Musk, Goldman Sachs, David Solomon, Ken Griffin Organizations: Service, Street, Business, Elon, Meta, Google, eBay, Billionaire, Citadel Locations: la la

☆ Employers and workers are at odds over work-life balance — here's who is winning
▼ + stars: | 2024-01-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

At the end of last year, Wayfair CEO Niraj Shah had a clear message for workers heading into 2024: "Winning takes hard work." "There is not a lot of history of laziness being rewarded with success," Shah wrote. "In his note, Niraj was reinforcing some of the values that have contributed to Wayfair's success, including questioning the status quo, being cost-efficient and working hard together to drive results." However, employees now have other priorities, new research shows, and more time at the office is not one of them. Employees are more likely to consider work-life balance, flexible hours and mental health support as more important, the report found.

Persons: Niraj Shah, Shah, Niraj Organizations: Business, Finance

☆ Wayfair is slashing 1,650 jobs just weeks after the CEO said it was profitable again
▼ + stars: | 2024-01-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWayfair said Friday it's cutting 1,650 jobs, with many corporate staff in the firing line. "I truly regret the impact this will have on you," Shah told staff in an email on Friday announcing the layoffs. Wayfair appears to have had about 12,700 staff before the most recent round of layoffs. Were you laid off by Wayfair or are you concerned about the cuts?

Persons: —, Wayfair, Niraj Shah, Shah, they've Organizations: Service, Business

☆ Wayfair lays off 13% of its workforce weeks after telling employees to work harder
▼ + stars: | 2024-01-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns. “I believe we need to stay focused as a company on what committed small teams can accomplish,” Shah wrote Friday. All workers will receive an email Friday about their future with the company and severance will be offered to those affected. Late last year, Wayfair’s Shah garnered attention for his blunt year-end letter to his employees telling them to blend work and life together. Shah also encouraged Wayfair employees to think of the company money they spend as their own and negotiate prices.

Persons: New York CNN —, Niraj Shah, Wayfair “, Shah, “, ” Shah, Wayfair, Wayfair’s Shah, ”, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN Locations: New York, Boston

☆ Wayfair to lay off 13% of workforce, impacting 1,650 employees
▼ + stars: | 2024-01-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Wayfair is cutting 13% of its global workforce as the digital home goods retailer looks to trim down its structure, cut out layers of management and reduce costs, it announced Friday. The company plans to lay off around 1,650 employees, including 19% of its corporate team, with a focus on people in management and leadership positions, the company said. The restructuring – the third Wayfair has implemented since summer 2022 – is expected to save the company about $280 million, it said. The layoffs come after Hasbro , Etsy and Macy's all announced cuts to their workforces as retailers contend with slowing demand and an uncertain economy. As a result, Wayfair has needed to make cuts to ensure its staffing levels are proportionate to how much business it's doing.

Persons: –, Niraj Shah, Macy's, Wayfair Organizations: New York Stock Exchange, Hasbro, Etsy

Online furniture seller Wayfair is cutting about 1,650 jobs, or 13% of its global workforce. Wayfair announced its latest job cuts Friday. Political Cartoons View All 253 ImagesFriday’s job cuts are expected to bring annualized cost savings of more than $280 million, Wayfair said. The Wall Street Journal first reported on Macy's layoffs and planned store closures Thursday, citing an internal memo and people familiar with the situation. Job cuts have taken a toll on workers across various industries — including retail, tech, media and hospitality — over the last few years.

Persons: Niraj Shah, ”, Wayfair, Macy's Organizations: —, Wayfair, Associated Press, New, Macy's Inc, Street Journal, Google, Hasbro, LinkedIn Locations: New York, Arlington , Virginia, Ballston, Leandro , California, Lihue, Hawaii, Simi Valley , California, Simi Valley, Tallahassee , Florida

☆ Read the email Wayfair's CEO sent to staff announcing that it's laying off 13% of its workforce
▼ + stars: | 2024-01-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

Wayfair said on Friday that it was cutting 13% of its global workforce, or around 1,650 workers. This came only weeks after CEO Niraj Shah sent a companywide email saying Wayfair was "back to winning" but also warning that staff should be careful with its money. AdvertisementNorth American staff would receive an email shortly letting them know whether their roles had been affected, while laid-off staff in Europe had already begun discussions with HR about the next steps, Shah said. Read the full email Shah sent to Wayfair staff below. First, I want to be clear that there are many things at the company that are going well.

Persons: Wayfair, Niraj Shah, Shah, we've, you'll, Covid, – Organizations: Talent, Covid Locations: Europe, North America, Wayfair

☆ ‘Not Where We Need to Be’: Boeing to Make Changes in Quality Control
▼ + stars: | 2024-01-15 | by ( Niraj Chokshi | ) www.nytimes.com time to read: +1 min

Boeing said Monday that it would make changes to quality control processes after one of its 737 Max 9 jets lost a portion of its body during a nearly catastrophic Alaska Airlines flight this month. And Boeing will bring in an outside party to review its quality control program and suggest improvements. The Federal Aviation Administration grounded all Max 9 planes and said it would expand its scrutiny of Boeing. Inspections of the planes led Boeing to conclude that its manufacturing practices needed improvement. “To that end, we are taking immediate actions to bolster quality assurance and controls across our factories.”

Persons: Stan Deal, “ Organizations: Boeing, Alaska Airlines, Federal Aviation Administration

The Federal Aviation Administration said on Friday that it was expanding its scrutiny of Boeing, increasing oversight of the company with an audit of production of the 737 Max 9, a week after a panel in the body of one of those planes was blown out during flight. Later Friday night, the F.A.A. The agency said it needed more information on the inspection process before it could approve Boeing’s guidance for distribution. The grounded planes, 171 in total in the United States, will be not be cleared to fly again until they are inspected, which could take several days, though possibly a lot longer, once the F.A.A. United Airlines is the biggest U.S. user of the plane, though the jet makes up just 8 percent of the larger company’s fleet.

Persons: Boeing’s, Max Organizations: Federal Aviation Administration, Boeing, Alaska Airlines, Airlines Locations: United States

☆ Boeing Again Under Scrutiny After Latest 737 Max Problem
▼ + stars: | 2024-01-07 | by ( Niraj Chokshi | ) www.nytimes.com time to read: 1 min

A harrowing flight over the weekend is again forcing Boeing to confront concerns over its planes, particularly the 737 Max, already one of the most scrutinized jets in history. No one was seriously injured in the episode on an Alaska Airlines flight Friday night in which a portion of a 737 Max 9 fuselage blew out in midair, exposing passengers to howling wind. The plane landed safely, but the event, on a flight from Portland, Ore., to Ontario, Calif., has spooked travelers and prompted immediate safety inspections on similar planes. Federal authorities focused attention on a mid-cabin door plug, which is used to fill the space where an emergency exit would be placed if the plane were configured with more seats.

Persons: Max Organizations: Boeing, Alaska Airlines Locations: Portland ,, Ontario, Calif

Alaska Airlines on Sunday announced plans to acquire Hawaiian Airlines in a $1.9 billion deal. The combined airline will maintain the Alaska Airlines and Hawaiian Airlines brands but with a single operating platform, Alaska Airlines said in a news release. The company would provide service to 138 destinations, including nonstop flights to airports in the Americas, Asia, Australia and the South Pacific. For residents in Hawaii, the company would offer three times the current number of destinations from the state to destinations throughout North America, either nonstop or with one connection. “In Alaska Airlines, we are joining an airline that has long served Hawaii, and has a complementary network and a shared culture of service,” Peter Ingram, president and chief executive of Hawaiian Airlines, was quoted as saying in the news release.

Persons: ” Peter Ingram, Biden Organizations: Alaska Airlines, Sunday, Hawaiian Airlines, Department Locations: Americas, Asia, Australia, Hawaii, North America, “

Boeing is holding 85 Max planes in storage awaiting delivery to Chinese carriers, for which the planes were even painted years ago. Over the next two decades, Boeing projects, China will account for 20 percent of global airplane demand. This means China will need an estimated 6,500 single-aisle planes like the 737 Max and more than 1,500 larger, twin-aisle planes, such as Boeing’s 787 Dreamliner, Boeing said. The first Max passenger flight there was in January, and all 95 Max planes in China are now back in service. Boeing has also sold and delivered dozens of 777 freighters to customers in China in recent years.

Persons: Max Organizations: Boeing, Max, ICBC Leasing Locations: China, Indonesia, Ethiopia, Dubai

☆ Sharp Drop in Airfares Cheers Inflation-Weary Travelers
▼ + stars: | 2023-11-14 | by ( Niraj Chokshi | More About Niraj Chokshi | ) www.nytimes.com time to read: +1 min

The glut of deals suggests that the airline industry’s supercharged pandemic recovery may finally be slowing as the supply of tickets catches up and, on some routes, overtakes demand, which appears relatively robust. Consider the fares that Denise Diorio, a retired teacher in Tampa, Fla., recently scored. She spent less than $40 on flights to and from Chicago and paid just $230 for a round-trip ticket from New York to Paris and back, a trip she plans to take this month. “I’ve been telling all my friends, ‘If you want to go somewhere, get your tickets now,’” she said. The bargains she found may be exceptional, but Ms. Diorio is right that deals abound.

Persons: Airfares, Denise Diorio, “ I’ve, ’ ”, Diorio Locations: Tampa , Fla, Chicago, New York, Paris

Chris Caputo stood on the tarmac at Burlington International Airport in Vermont in early October and looked to the clouds in the distance. He had piloted military and commercial aircraft over a long career, racking up thousands of flight hours, but the trip he was about to take would be very different. Over the next 16 days, he and his colleagues flew the plane, an CX300 built by their employer, Beta Technologies, down the East Coast. They would make nearly two dozen stops to rest and recharge, flying through congested airspace in Boston, New York, Washington and other cities. When the journey came to an end in Florida, Beta handed the plane over to the Air Force, which will experiment with it over the next few months.

Persons: Chris Caputo, Caputo Organizations: Burlington International, Beta Technologies, Beta, Air Force Locations: Vermont, East Coast, Boston , New York, Washington, Florida

☆ Wayfair losses narrow but sales come in short of expectations as demand remains tepid
▼ + stars: | 2023-11-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Wayfair is inching closer to profitability, but its third-quarter results still fell short of revenue expectations as the home market continues to be under pressure. Excluding one-time items, Wayfair reported an adjusted loss of 13 cents per share. Wayfair has been focusing on cost discipline to drive profitability and protect its margins as demand remains tepid across the home goods sector and other consumer discretionary categories. That discipline led Wayfair to see adjusted earnings before interest, tax, depreciation and amortization of $100 million, compared to the $55 million analysts had expected, according to StreetAccount. During the quarter, those costs came down to $596 million, compared to $656 million in the year ago period.

Persons: Wayfair, it's, who've, Niraj Shah Organizations: New York Stock Exchange, LSEG Locations: U.S

☆ Air Force Receives Its First Electric Air Taxi
▼ + stars: | 2023-09-25 | by ( Niraj Chokshi | More About Niraj Chokshi | ) www.nytimes.com time to read: +1 min

The Air Force said on Monday that it had received its first electric passenger aircraft capable of taking off and landing vertically, a milestone for the companies that hope to one day sell thousands of such vehicles to serve as air taxis. Joby Aviation, an air taxi start-up, delivered the aircraft to Edwards Air Force Base in Southern California, where the first supersonic flight took place. Joby, which is based in Santa Cruz, Calif., said that its electric aircraft is substantially quieter than helicopters or planes. The delivery is the first under an Air Force contract that Joby said was valued at up to $131 million and gives the government the option to receive up to nine aircraft. The Air Force and Joby will operate the vehicle, but Joby will still own the aircraft and receive both fixed and variable payments for hours flown.

Persons: Joby Organizations: Air Force, Joby Aviation, Edwards Air Force Base, NASA Locations: Southern California, Santa Cruz , Calif

The fastest train in the country outside of the Northeast began service between Miami and Orlando on Friday, connecting two major cities in car-loving Florida and testing whether private passenger rail can thrive in the United States. Tickets from Miami to Orlando start at $158 round trip for business class and $298 for first class, with discounts for families and larger groups. Brightline became the nation’s first private passenger rail to launch in a century when it started its service between Miami and West Palm Beach, where the company’s trains do not reach such high speeds, in 2018. If Brightline proves profitable in Florida, it could represent a turning point for American passenger rail. The last private intercity passenger train — the Rio Grande Zephyr, which connected Denver and Salt Lake City — shut down four decades ago.

Persons: Brightline Organizations: Northeast, Orlando, West Palm Beach, Salt Lake City —, Amtrak Locations: Miami, Florida, United States, West Palm, Rio, Denver, Salt Lake City

A new biography of Elon Musk portrays the billionaire entrepreneur as a complex, tortured figure whose brilliance is often overshadowed by his inability to relate on a human level to the people around him — his wives, his children and those on whom he relied to help build the space exploration and electric car businesses that made him the wealthiest man on Earth. Mr. Musk’s life so far — his difficult childhood in South Africa, his stormy romantic relationships, his success as a visionary who created SpaceX and Tesla, and his impetuous decision to buy Twitter — is detailed through scores of interviews with his family, friends, business associates and Mr. Musk himself. The book, which will be released on Tuesday, is by Walter Isaacson, the journalist whose previous works have chronicled the lives of Steve Jobs, Albert Einstein, Leonardo da Vinci and Benjamin Franklin. It opens with a quote from Mr. Jobs, the co-founder of Apple, who once said, “The people who are crazy enough to think they can change the world are the ones who do.”

Persons: Elon Musk, Musk, Walter Isaacson, Steve Jobs, Albert Einstein, Leonardo da Vinci, Benjamin Franklin, Jobs, “, ” Organizations: SpaceX, Tesla, Twitter, Apple Locations: South Africa

Ian killed 75 people in Lee County, nearly half of the statewide death toll of 149, officials said. At that point, the National Hurricane Center flagged the possibility of a storm surge covering much of Cape Coral and Fort Myers. Parts of Fort Myers Beach had a 40 percent chance of a six-foot-high storm surge, according to the surge forecasts. In Lee County officials said they were waiting to make an assessment the next morning. Officials expanded their evacuation order later in the morning, and by the middle of the afternoon, Lee County officials were more urgent in their recommendation.

Persons: Ian, Lee County, Ron DeSantis, Lee, Fort Myers, ” Organizations: National Hurricane Service, National Hurricane Center, Fort Myers, Facebook Locations: Florida, Tampa, Fort Myers, Lee County, Fort Myers Beach, Sanibel, State, Coral, Fort, Cape Coral, Neighboring Pinellas, Hillsborough, Manatee, Charlotte, Sarasota County, Lee

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