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☆ How Boeing defrauded the United States and escaped with a slap on the wrist
▼ + stars: | 2024-07-13 | by ( Chris Isidore | Pete Muntean | ) edition.cnn.com time to read: +10 min

Boeing agreed to plead guilty to a charge that it defrauded the Federal Aviation Administration, hiding crucial information about a design flaw on the 737 Max during its original certification process. Boeing attorneys had it as part of their mission to make sure that its executives did not face any criminal charges, Lindquist said. A Boeing spokesman said the company had no comment about the anticipated guilty plea or the case beyond a brief statement confirming the agreement. Another way to make executives payEven if there are no criminal charges brought against executives, they can face significant penalties, Arlen said. Why Boeing will keep its government contractsThe most serious penalty that Boeing could face is by far the least likely – it could be barred from federal government contracts due to its guilty plea.

Persons: Critics, ”, Peter Goeltz, Goeltz, “ I’m, Moody’s, Paul Cassell, Jemal Countess, “, Mark Lindquist, Lindquist, FAA ”, Mark Forkner, ” Lindquist, there’s, that’s, Arlen, Dave Calhoun, Dennis Muilenburg, Calhoun, Max, Patrick Ryder, Robert Clifford, – CNN’s Natasha Bertrand Organizations: New, New York CNN, Boeing, Federal Aviation Administration, National Transportation Safety Board, CNN, ”, Alaska Airlines, Justice Department, FAA, Volkswagen, University of Utah, Ethiopian Airlines, Max, Alaska Air, DOJ, “, Department of Defense, Pentagon, Air Force, Department of Justice, they’re Boeing Locations: New York, Alaska, Indonesia

☆ UAW chief and other board members have concerns about Biden’s ability to beat Trump, source says
▼ + stars: | 2024-07-11 | by ( Arlette Saenz | ) edition.cnn.com time to read: +4 min

CNN —United Auto Workers President Shawn Fain and other members of the union’s board have expressed concerns about President Joe Biden’s ability to beat Donald Trump in November, a source close to the union says. The union is discussing the way forward on how to beat Trump in November, but the group is not considering rescinding its endorsement of Biden at this time, the source added. When a reporter at a Thursday press conference raised the UAW’s concerns, the president responded, “The UAW just endorsed me.”“There’s a long way to go this campaign,” the president later added. In a statement Wednesday, the day Biden visited the group, the AFL-CIO executive council said in a statement: “The labor movement understands, as Joe Biden does, that solidarity is how we win. “I said I was going to be the most pro union president in American history, well guess what I am,” Biden said Wednesday.

Persons: Shawn Fain, Joe Biden’s, Donald Trump, Biden, “ I’m, ” Biden, Fain, Trump, “, Joe Biden, Kamala Harris, White, George Clooney, couldn’t, Liz Shuler, Keir Starmer, ” CNN’s Chris Isidore Organizations: CNN — United Auto Workers, Trump, CNN, Reuters, UAW, AFL, NATO, Wednesday, Michigan, New York Times, British Locations: Washington ,, Michigan, Wisconsin

☆ Why the Fed is stressed about presidential elections
▼ + stars: | 2024-07-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Federal Reserve Chair Jerome Powell sent investors mixed messages on Tuesday during his semiannual testimony to Congress. Powell is stressed about the election: Powell was asked by multiple senators about White House politics, which he dodged. While the Fed head noted that policy decisions are data dependent, “elevated inflation is not the only risk we face,” he said. The September Fed meeting will be “live”: Powell noted multiple times that every Fed policy decision is made “live” using the latest available economic data – in other words, decisions aren’t made in advance. About 75% of investors think the Fed will cut rates, and about 25% think they’ll remain the same.

Persons: Jerome Powell, Powell, “, Donald Trump, reappoint Powell, ”, Joseph Brusuelas, Trump, Gregory Daco, Chris Larkin, Morgan Stanley, Larkin, don’t, aren’t, David Rubenstein, he’ll, Airbnb, Isabelle Chapman, Majlie, Puy Kamp, Audrey Ash, Chris Isidore . Organizations: CNN Business, Bell, New York CNN — Federal, White, “, Reserve, RSM, Federal Reserve, US Consumer, Treasury, Fed, Economics, Washington DC, Jackson, CNN, Boeing, Alaska Airlines Locations: New York, Powell, Washington, Alaska

☆ Boeing sold just three passenger jets in the past month
▼ + stars: | 2024-07-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing said it sold just 14 new jets in the past month, with most of those coming as freighter sales. It had come into the year with a record sales month in December, but sales ground to a virtual halt following the Alaska Air incident. That certification, originally expected this year, has been pushed back to at least 2025 by the problems brought to light by the Alaska Air incident. The company agreed Sunday to plead guilty to its employees defrauding the FAA during the original certification process for the 737 Max. The plane it sold to Alaska Air is also a 737 Max 10 to replace the plane that lost the door plug in January.

Organizations: New, New York CNN, Boeing, Alaska Airlines, American Airlines, Federal Aviation Administration, FAA, Alaska Air Locations: New York, Alaska

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ Boeing agrees to plead guilty to defrauding US regulators but escapes punishment sought by victims’ families
▼ + stars: | 2024-07-08 | by ( Chris Isidore | ) edition.cnn.com time to read: 1 min

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☆ Record numbers of people are flying. So why are airlines’ profits plunging?
▼ + stars: | 2024-07-03 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

Airlines face numerous problems, including higher costs, such as fuel, wages and interest rates. And problems at Boeing mean airlines have too few planes to expand routes to support a record numbers of flyers. Labor costs and jet fuel prices, the airlines’ two largest costs, are both sharply higher this year. Jet fuel prices are climbing because of higher demand in the summer. Southwest announced in April that it would stop serving four airports to trim costs — Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport in New York and Houston’s George Bush Intercontinental Airport.

Persons: that’s, Houston’s George Organizations: New, New York CNN, Boeing, Labor, Airline, Jet, International Air Transport, Airbus, Alaska Airlines Boeing, Max, Federal Aviation Administration, Southwest, Bellingham International Airport, Cozumel International, Syracuse Hancock International, Houston’s George Bush Intercontinental Locations: New York, Southwest, United, Washington state, Cozumel, Mexico, Syracuse

☆ The Secret Behind a Beloved Palestinian Dessert
▼ + stars: | 2024-07-03 | by ( Ligaya Mishan | ) www.nytimes.com time to read: +1 min

Take a handful of tears. This is not an attempt at poetry: They are, in fact, called tears, these tiny, translucent fragments of resin, glittering like sugar and giving off the scent of high, sweet pine. Once rooted, fed by the sun, the trees can go for long stretches without water — without any care at all. Only a species indigenous to the southern coast of the Greek island Chios produces this precious sap, prized since antiquity as medicine and seasoning for food. (In the 19th century, breath-purifying mastic chewing gum was an indulgence reportedly as beloved by the women of Constantinople as tobacco by the men.)

Persons: Saint Isidore, Herodotus Locations: Chios, Greek Independence, Ottoman

☆ Tesla sales fall again as more automakers crowd electric vehicle market
▼ + stars: | 2024-07-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla sales fell for the second straight quarter. In the fourth quarter BYD briefly passed Tesla in global EV sales. But the better-than-expected Tesla sales were enough to lift shares of Tesla (TSLA) by more than 9% in midday trading. The strong EV sales were balanced by a slight drop - about 0.3% - in sales of traditional gasoline powered cars. Toyota’s US EV sales soared even more, rising 301% to 11,600.

Persons: Tesla, Elon Musk, —, BYD, CNN’s Laura He, Peter Valdes, Dapena Organizations: New, New York CNN, clamoring, Tesla, Volkswagen, General Motors, Ford, GM, EV, Blazer EV, Cadillac, Toyota Locations: New York, China, Europe, North America

☆ Boeing agrees to buy spinoff Spirit Aerosystems as part of its plan to shore up safety
▼ + stars: | 2024-07-01 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —Boeing has agreed to buy Spirit Aerosystems, one of its major suppliers and manufacturing partners, as part of its plan to overhaul the aircraft maker’s badly damaged safety reputation. Boeing in March announced its intention to buy Spirit, saying recombining the companies would boost safety. Spirit AeroSystems makes major parts of several Boeing models, including the fuselages for the 737 Max. The company also makes parts for Boeing’s rival Airbus, although Boeing is Spirit’s largest customer. The first group of employees removed the door plug to address problems with rivets that were made by Spirit AeroSystems.

Persons: Spirit’s, ”, Dave Calhoun, AeroSystems, Max, Sprit, Spirit Aerosystems, CNN’s Chris Isidore Organizations: New, New York CNN, Boeing, Spirit, Airbus, Alaska Airways, US Justice Department Locations: New York

☆ Here’s what it means when a company like Boeing faces criminal charges
▼ + stars: | 2024-06-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

While criminal charges against corporations are fairly common, the overwhelming majority are against small, closely-held companies. Earlier criminal settlement now at riskThe potential charges hanging over Boeing currently revolve around that January 2021 deferred prosecution agreement. They have argued Boeing should face new criminal charges and pay a fine as great as $24.9 billion. In May, the Justice Department said it was looking into bringing criminal charges against Boeing once again due to a potential violation of that January 2021 agreement. Arlen said it is common for smaller companies to be forced out of business by criminal charges and the penalties that follow.

Persons: ”, Jennifer Arlen, Arlen, Lindsey Wasson, ” Arlen, “, Max, David Burns, Mark Forkner, Eduardo Soteras, Arthur Andersen Organizations: New, New York CNN, Justice Department, Boeing, Dow Jones, New York University, Control, Max, Federal Aviation Administration, FAA, Alaska Airlines Flight, NTSB, Getty, Alaska Airlines, Prosecutors, CNN, Oil, BP, US Environmental Protection Agency, Ethiopian Airlines Locations: New York, China, Renton , Washington, Alaska, AFP

☆ The Boeing saga has reached a new level of absurdity
▼ + stars: | 2024-06-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —If you’re a PR person, I can’t possibly think of a harder job right now than working at Boeing. Boeing held a press conference from a factory in Renton, Washington, on Thursday to talk about quality improvements. But strangely enough, Boeing sharing that information itself got Boeing in trouble with the NTSB. Clean up, clean up everybody everywhereWhen the NTSB’s statement went out, Boeing’s PR team went back into crisis clean-up mode. At the same time, rules are rules no matter how hypocritical they are.

Persons: It’s, they’d, Max, Elizabeth Lund, Lund, Gregory Wallace, Chris Isidore, ” Lund, “, that’s Organizations: New, New York CNN, Boeing, Alaska Airlines, Senate, National Transportation Safety Board, NTSB, ”, Department of Justice, CNN, Boeing’s PR Locations: New York, Renton , Washington

☆ Boeing blames missing paperwork for Alaska Air door plug incident
▼ + stars: | 2024-06-27 | by ( Gregory Wallace | Chris Isidore | ) edition.cnn.com time to read: +5 min

Renton, Washington CNN —The missing paperwork on the 737 Max that lost a door plug on an Alaska Airlines flight in January isn’t just making it difficult to find out who made the near tragic mistake. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable. Removing a door plug after a plane arrives from Spirit AeroSystems rarely happens, Lund added, so no one was aware the door plug needed attention. NTSB Chair Jennifer Homendy has testified about the missing paperwork at Congressional hearings since then.

Persons: Max, isn’t, it’s, ”, Elizabeth Lund, Lund, ” Lund, hurtling, Jennifer Homendy, “ Organizations: Washington CNN, Alaska Airlines, Boeing, Alaska Air, National Transportation Safety Board, NTSB Locations: Renton, Washington, Renton , Washington, Portland , Oregon

☆ NTSB slams Norfolk Southern for controlled burn of toxic chemicals after Ohio derailment
▼ + stars: | 2024-06-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Norfolk Southern on Tuesday faced harsh criticism from regulators for its decisions immediately after a February 2023 derailment in East Palestine, Ohio. Norfolk Southern told public officials who authorized the controlled burn, known as a vent and burn procedure, that it was the only way to prevent a catastrophic and uncontrolled explosion. But Stancil said that information was not communicated to the public officials who had to make the final decision. “Norfolk Southern… compromised the integrity of the vent and burn decision by withholding complete and accurate expert opinion and information from the incident commander,” Stancil said. “Several key factors indicated the strong possibility of a catastrophic, uncontrolled explosion.”“The vent and burn effectively avoided a potential uncontrolled explosion,” Norfolk said elsewhere in its statement.

Persons: Paul Stancil, Stancil, ” Stancil, ”, Jennifer Homendy, “ Organizations: New, New York CNN, Norfolk Southern, National Transportation Safety Board, NTSB, Oxy, Norfolk Locations: New York, East Palestine , Ohio, Norfolk, Norfolk Southern

☆ Travelers could see higher fares, fewer available seats as Airbus cuts number of planes it expects to make this year
▼ + stars: | 2024-06-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Airbus cut its target for how many planes it expects to make this year and next, citing supply chain issues. The tighter-than-expected supply of jets is forcing airlines to adjust their expansion plans, even as they deal with record demand for air travel. That means that passengers could find fewer available seats and fares that are higher than they would be otherwise. But airlines that use Airbus planes have not been without problems, as a number of A320neo jets have been grounded due to problems with their engines. Airfares were down 13% to nearly 19% from those 2022 peaks during the summer travel months last year, as the number of available seats on planes rose by about 15% from a year earlier.

Organizations: New, New York CNN, Airbus, Boeing, Max Alaska Air, Monday Airbus, TSA, Consumer, Bureau of Transportation Statistics Locations: New York, Paris

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ Prosecutors urge Justice Department to file criminal charges against Boeing over 737 Max
▼ + stars: | 2024-06-24 | by ( Chris Isidore | Evan Perez | ) edition.cnn.com time to read: +4 min

New York CNN —Prosecutors are urging the US Justice Department to file criminal charges against Boeing for safety issues surrounding its 737 Max, although top Justice Department officials haven’t made a final decision, a source familiar with the development tells CNN. And this month a group of those family members wrote a letter to the Justice Department urging Boeing be hit with the maximum possible $24.9 billion fine. The charges against Boeing don’t mean any Boeing executive will face charges as an individual. It has posted core operating losses of $31.9 billion since the start of the 20-month grounding of the 737 Max that followed its second fatal crash in 2019. But if the company faces criminal charges, a new settlement is the most likely outcome.

Persons: haven’t, Max, Richard Aboulafia Organizations: New, New York CNN — Prosecutors, US Justice Department, Boeing, CNN, Alaska Air, Justice Department, Federal Aviation Administration, FAA, Reuters, Justice, Department of Defense Locations: New York, Alaska

☆ UPS promised new delivery vans with AC. It hasn’t bought any
▼ + stars: | 2024-06-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

Almost none of the nearly 100,000 brown package vans have AC. But there have been no vans purchased this year, so no additional AC vans are on the roads. But they make up only a small fraction of the 94,000 UPS package vans on American roads. It said it also provided specialized cooling gear for UPS drivers and inside staff to wear, as well as water jugs for drivers. But AC is still a rarity in the UPS vans on the road.

Persons: hasn’t, ”, “, it’s Organizations: New, New York CNN, Teamsters, UPS, Drivers, CNN Locations: New York

☆ Alaska Airlines reaches tentative labor deal with flight attendants
▼ + stars: | 2024-06-22 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Alaska Airlines and its 7,000-member flight attendants union reached a tentative labor deal late Friday, concluding talks that lasted more than a year and a half. In February, flight attendants from Alaska — along with American, United and Southwest —held unprecedented coordinated pickets demanding new contracts. Maller was one of the flight attendants on the Alaska Airlines Flight 1282, which drew international attention on January 5 when a door plug blew off, leaving a gaping hole in the side of the plane. But he said he picketed because the existing contract did not provide a livable wage for too many flight attendants. Maller said he has worked at times as a bartender and that most flight attendants he knows also have second jobs.

Persons: they’ve, we’ve, Steve Maller, Maller, ”, he’s Organizations: New, New York CNN, Alaska Airlines, Railway Labor Act, Alaska —, United, Southwest —, Southwest, Railway Labor, CNN, Alaska Airlines ’ Locations: New York, Alaska

☆ Teamsters President Sean O’Brien to speak at Republican National Convention
▼ + stars: | 2024-06-21 | by ( Chris Isidore | Arit John | ) edition.cnn.com time to read: +4 min

York CNN —Teamsters President Sean O’Brien will speak to the Republican National Convention in Milwaukee in July, a sign that former President Donald Trump’s campaign is hoping to peel off the support of union members from President Joe Biden. But unlike other speakers at the RNC, O’Brien’s appearance does not represent an endorsement of Trump, according to Teamsters union spokesperson Kara Deniz. O’Brien has requested the opportunity to also speak at the Democratic National Convention in Chicago in August. “Our GREAT convention will unify Americans and demonstrate to the nation’s working families they come first,” Trump wrote. “This is truly unprecedented since it will be the very first time a Teamsters General President has addressed the RNC,” she said in an email.

Persons: Sean O’Brien, Donald Trump’s, Joe Biden, Trump, Kara Deniz, O’Brien, Deniz, ” Trump, “, ” Deniz, ”, ” “, John Palmer, Biden, Sen, Markwayne Mullin, Bernie Sanders, Matt Hill, – CNN’s Gregory Krieg, Kristen Holmes Organizations: York CNN, Republican National Convention, RNC, Teamsters, Democratic National Convention, DNC, United Auto Workers, National Labor Relations Board, AFL, UAW, National Education Association, Democratic, Republican Locations: York, Milwaukee, Chicago, Lago, Oklahoma

☆ Boeing’s CEO is going to coast into retirement, having never been held to account for the mess he made
▼ + stars: | 2024-06-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —For all the mistakes and safety problems Boeing has managed under CEO Dave Calhoun’s watch — resulting in a dozen corporate whistleblowers, multiple groundings and a chunk of a plane’s fuselage literally blowing off in midair — virtually no one has held him to account. But when pressed on taking personal responsibility, Calhoun deflected, over and over. “I am proud of every action we have taken,” Calhoun said when pressed by Hawley on how he could possibly be proud of Boeing’s safety culture. “I don’t think the problem’s with the employees, actually, I think the problem’s with you. It’s the C-suite, it’s the management, it’s what you’ve done to this company,” Hawley said.

Persons: CNN Business ’, Dave Calhoun’s, lavishing, Calhoun, Republican Sen, Josh Hawley, Boeing’s machinists, hasn’t, “, ” Calhoun, Hawley, ” Hawley, they’re, Democratic Sen, Richard Blumenthal didn’t, you’ve, ” Blumenthal, “ I’m, ” Richard Aboulafia, Chris Isidore, ” Aboulafia, ” Organizations: CNN Business, New York CNN, Boeing, Airbus, Republican, Democratic, ”, Federal Aviation Administration, Department, Consultancy Locations: New York

☆ Boeing hid questionable parts from regulators that may have been installed in 737 Max planes, new whistleblower alleges
▼ + stars: | 2024-06-18 | by ( Chris Isidore | Gregory Wallace | ) edition.cnn.com time to read: +11 min

Boeing has been under intense scrutiny with numerous federal investigations and congressional hearings since a January 5 Alaska Air Boeing 737 Max flight had a door plug blow off, leaving a gaping hole in both the plane and Boeing’s reputation. He also claims Boeing in August 2023 told employees to delete records about nonconforming parts, which led him to complain – but Boeing took no action. Jason Redmond/ReutersAt an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so. But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period. Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.

Persons: Sam Mohawk, ”, Dave Calhoun, Calhoun, We’ve, Sen, Richard Blumenthal, Blumenthal, ” Blumenthal, “, Max, Howard McKenzie, Boeing’s, Jason Redmond, Sam Salehpour, ” Salehpour, ” Calhoun’s, Richard Aboulafia, “ I’m, Calhoun’s Organizations: Washington CNN, Boeing, Federal Aviation Administration, Congressional, CNN, Alaska Air Boeing, Max, Connecticut Democrat, FAA, Reuters, Consultancy, Alaska Air, Alaska Airlines, Alaska Airlines ’, Department Locations: Renton , Washington, Connecticut, Mohawk, Renton, Alaska, Indonesia, Ethiopia

☆ Forget Elon Musk’s record pay package from Tesla. More could be on the way.
▼ + stars: | 2024-06-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.

Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, “, ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, ”, Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, “, Tesla

☆ Boeing CEO admits company has been ‘far from perfect’ after a flood of safety lapses
▼ + stars: | 2024-06-17 | by ( Chris Isidore | Gregory Wallace | ) edition.cnn.com time to read: +6 min

At an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so. Calhoun has already met with members of Congress since the Alaska Air incident, albeit behind closed doors. He has also made numerous public statements to Boeing employees and to investors since the Alaska Air incident. But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period. Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.

Persons: Dave Calhoun, We’ve, Stephen Brashear, Calhoun, Howard McKenzie, Boeing’s, Sam Salehpour, ” Salehpour, ” Calhoun, “, ”, Richard Aboulafia, “ I’m, Calhoun’s, Max Organizations: Washington DC CNN, Boeing, Alaska Air Boeing, Max, Federal Aviation Administration, Getty, Consultancy, Alaska Air, Alaska Airlines, Alaska Airlines ’, Department Locations: Renton , Washington, Alaska, Indonesia, Ethiopia

☆ Counterfeit titanium was found in Boeing and Airbus jets. The FAA is investigating how it got there
▼ + stars: | 2024-06-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Titanium that was distributed with fake documentation has been found in commercial Boeing and Airbus jets. Now the Federal Aviation Administration, the aircraft manufacturers and supplier Spirit AeroSystems are investigating whether those components pose a safety hazard to the public. The FAA and Boeing confirmed that they are investigating the matter. Boeing said the questionable parts come from a limited set of suppliers, and tests performed to date have indicated that the correct titanium alloy was used. Airbus has also had problems with some of the engines that have grounded some of its planes owned by different airlines.

Persons: ”, Joe Buccino, “ Organizations: New, New York CNN, Boeing, Airbus, Federal Aviation Administration, New York Times, Times, FAA, Spirit, Max, “ Boeing, Alaska Airlines Locations: New York

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