'Boeing has not learned its lesson.' Downgrade warning, lawmaker criticism make for rough first day for new CEO

  • 📰 CNBC
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

'Boeing has not learned its lesson.' Downgrade warning, lawmaker ire greet new CEO

, will receive a $7 million bonus if he gets regulators to clear the Max to fly again, among other performance targets, the company said. That drew the ire of some lawmakers who have criticized the company for sacrificing safety to make airplanes a better sell — and rewarding executives for it.

Boeing is scrambling to win regulatory approval of the planes but Calhoun has taken a more conciliatory approach with the Federal Aviation Administration after former CEO Dennis Muilenburg made overly optimistic statements about when the jets will be approved frayed the relationship between the two and contributed to Muilenburg'sThe planes are Boeing's best seller and the worldwide grounding, now in its 11th month, has cost airlines more than $1 billion in revenue and cost Boeing more...

"This includes following the lead of our regulators and working with them to ensure they're satisfied completely with the airplane and our work," the company said in a statement. "The Board and CEO are in full agreement that the safe return to service of the 737 MAX must be done with full regulatory oversight."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I will never fly on a MAX and now that I look back on all the flights I've taken, even the classic 737 seems like a clunky relic compared to the A320. No thanks Boeing, hope your crap plane stays grounded for good.

Why isnt Boeing liquadated & imprisoned to pay their murder victims families?

People flying Boeing have not learned anything.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boeing Scrambling After New CEO Catches Fire During First Press ConferenceCHICAGO—Emphasizing that the 62-year-old executive was just experiencing minor technical issues and would be back behind the podium shortly, Boeing officials scrambled to do damage control Monday after their new CEO Dave Calhoun erupted into flames during his first press conference. “I assure you, Mr. Calhoun is one of the safest board members in Boeing’s history and has never caught fire prior to today,” said Boeing spokesperson Karen Flynn, adding that Mr. Calhoun had undergone rigorous testing before being promoted to CEO, leaving the company stunned when he suddenly paused his speech, sent out an SOS signal, and burst into flames. “While we are devastated by the news, the reality of having executives is that there is always a risk that one will lose control, fly off the stage, and crash into the audience at high velocity. To the hundreds who died, or suffered severe injuries today, we sincerely apologize.” At press time, investigators found that Mr. Calhoun had failed to pay Boeing for additional safety protections that could have prevented him from exploding into millions of small, unidentifiable pieces. oof Shortly thereafter, Musk vows twice the combustion for half the price. Then they dropped 36 million on to the smoldering ashes to make sure it started back up to burn the money so nobody could get it. They bussed in the mobile children's hospital patient's to make sure they saw the money burn
Source: TheOnion - 🏆 724. / 51 Read more »

Just Imagine Getting Messages Like This From Your CEOThe CEO of Away has decided not to step down, despite reports on the company’s toxic environment. Has someone tagged AskAManager in this?
Source: TheCut - 🏆 720. / 51 Read more »

Wells Fargo to report earnings before the bell with new CEO Scharf at the helmThough bank stocks have performed well recently, Wells Fargo investors will look to earnings for any sign it could catch up to its peers. Independent_ie IrishTimes RTEbusiness Scharf had no success at BNY Mellon, all he did was have employees laid off while he banked millions. The man is a complete and utter fraud.
Source: CNBC - 🏆 12. / 72 Read more »

BlackRock CEO says the climate crisis is about to trigger 'a fundamental reshaping of finance'The world's largest money manager believes the intensifying climate crisis will bring about a fundamental reshaping of finance. No duh? NTCO buy buy j.p.morgan Fink said more or less the same three years ago
Source: CNBC - 🏆 12. / 72 Read more »

Circuit: Founder and CEO maxed out working capital to grow without VC cash - Business Insider'We've been growing at a staggering pace with more than a million deliveries a week last year,' Underwood told Business Insider in an interview. Paywall How dare he! I need to pay to read the story?
Source: BusinessInsider - 🏆 729. / 51 Read more »