Boeing and the FAA: 'It's getting dangerous,' aviation expert says
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- Опубліковано 6 вер 2024
- Shares of Boeing (BA) have declined over 30% in 2024 as the company has experienced a tumultuous few months, starting with a mid-air incident aboard a Boeing 737 MAX. The event provoked a Federal Aviation Administration (FAA) audit, which revealed multiple failures to comply with manufacturing quality control requirements.
Boyd Group International President Mike Boyd joins Yahoo Finance to discuss how Boeing will fare in competition with Airbus (AIR.PA) and what the acquisition of Spirit Aerosystems will mean for the manufacturer.
Boyd outlines key priorities for Boeing's new leadership: "The day one priority has to clean upwhat's gone on in manufacturing. Look, as I pointed out, in an airline, if you fix an airplane, the mechanic has to fix it. You have to know who it is. He signs off...Then an inspector comes in and signs off. What we found out now is that is not what Boeing was doing. They can't tell you who worked on that airplane that Alaska (ALK) had the problem with. That is outrageous. An airline would get shut down for that. So what we have to have is now some really strong oversight, and the people at the top have to be held accountable."
#youtube #Boeing #yahoofinance
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Yes. Boeing leaders should be held accountable. 340+ lives were lost 5 years ago and nobody was held criminally accountable
Ethiopian Airlines pilots caused that crash.
@@creatorofgods1668 MCAS did ding dong. Did you not see the report? The co-pilot verbalizing all the correct steps/actions during the situation but both pilots could not over come the MCAS. They took manual control of the stabilizers and disconnected it from the computer system. MCAS still was able to overpower them and nose-dive the plane into the ground.
Go read the report before opening your pathetic mouth.
The fact that Boeing claimed that they should not have to pay out more the families of the victims for pain and suffering because they truly believed the crash happened so quick and violent, nobody on those two crashed suffered any pain. Therefore, Boeing did not need to pay for pain and suffering. Of course the judge did not let that argument stand in court.
@@creatorofgods1668 please do more research
It wasn’t criminal.
@@creatorofgods1668 Look at this american😂😂😂😂😂Max Americope
Making a whistleblower disappear doesn't fix the problem either
The CEO should be held completely accountable
THe whole of top management not just CEO.
the whole board, back to when they started to cut corner to pay for buyback they used to rise their bonus shares prices...
anyone who profited from those cost cutting should be held accountable...
but well, I would have hope that same was done about the banks disaster back in 2008... still, they moved with their golden parachute...
also accountybility "is communism!!!"
extrem capitalism does have problems and their despise of rules, regulation and personnal accountability if they F-Up is immense... they will alway ask to socialize the losses and privatize the wins...
The CEO is just a puppet face of the company so other shareholders and executives can hide behind the blame.
Boeeing punished their top management by giving hefty bonuses. What a joke?
As a BA shareholder, I’m appalled with their leadership. I would vote everyone off the board as well as remove Calhoun from the helm
I just paid extra $300 to switch from Alaska to Jetblue to avoid flying on Boeing 737 Max
After life is more precious.. i have been avoiding Boeing since that Ethiopian incident
This is what happens when a company spends more on stock buybacks and dividends than on development.
When the C Suite majority of pay is from share options and pay no tax on that income, you understand why share buy backs are the only thing they concentrate on.
This is happening everywhere in America right now this kind of management doing this kind of crazy thing.
The CEO and the Board must be prosecuted.
They should be in jail for the 737max crashes. For example engineers have been jailed when building they designed fell killing people.
Executed you mean?
Boeing should replace its top leaders.
Replace their shareholders
Two people were held accountable after the MAX crashes: CEO Muilenburg and the President of Boeing Commercial Airplanes. But Calhoun, who took over, was a Muilenburg supporter before he was fired. Clearly, Calhoun is not the right man to fix Boeing. It is time to replace him and probably several others, including some board members.
Yeah, I was a avionics technician in the US Navy many years ago and all the work was carefully logged and post work inspections are logged and the maintenance chief would randomly inspect things and heaven help you if the maintenance chief or officer sees something wrong. You'd be better off dead. But EVERYTHING was logged. We even inspected all the tools before a launch and all the tools had to be accounted for.
When I heard how Boeing is running their operations it just makes no sense.
It must be so difficult for the average conscientious Boeing employee to know how dishonorably your company managers are conducting themselves.
Nationalize Boeing. if it's Boeing, I'm not going.
nationalize yourself
For those that do not know, Spirit should have had three levels of inspectors. They would have their own inspectors, then there should have been Boeing inspectors, and as mentioned in this video, there should have been FAA inspections.
The FAA inspectors are not on-site daily, but they should have had a regular inspection cycle they rotated through. However, Boeing should have had a regular inspection team on-site working along-side the Spirit inspectors. This was obviously not happening on a couple of levels. The FAA was deferring inspections to Boeing, and Boeing inspectors were letting Spirit do their own thing, as well.
Thanks fyi.
@@rnegoro1You're welcome.
Reason for poor FAA oversight is boeing bribing congress to shift FAA inspection procedures… so that boeing can inspect itself more…
Spirit produces part's for Airbus as well....why Airbus don't have these problems?!?! Bit fishy for me
@@dancerico283It isn't the parts that are the problem. If Airbus is getting parts from them, they are then installed in an Airbus factory, not at Boeing. The problems coming out are from the Boeing plant, which Spirit is also a part of. They are pretty much the same company working together in their factories.
Wait until people see what rework contractors on the 777 have been doing. Ask if having mechanics buy their own work tools on Amazon (and fasteners!) gives you confidence.
Finally an expert speaks the truth! And yes, in a normal world, Boeing's production would be stopped on the spot. And its management would be fired without a penny!
I will not be flying for a long time
Same here.....
Fly airbus
who cares
This situation is so bad that I think all Boeing planes should be immediately grounded and manufacturing halted until a thorough review from global regulators can be completed.
should claw back all the money from previous CEOs too
Where is the esteemed Secretary of Transportation, Pete Buttigeig?? There is a LOT of accumulated culpability in this, not just Boeing. We want to know about how people are hired and back ground checked.
Boeings business strategy is when one door closes another 1 opens 😂
My money says all the managers will get bonuses
Accountable? You meant getting 8 digit of $ of bonus and compensation in their account?
Sad, Boeing was the best at one time.
At what manipulating share price?
WAS and likely will never be best again.
It was just about the most trusted company ever. Just getting rid of union members and manufacturing standards isn't going to sell aircraft.
I'm flying abroad in two weeks. The airline will likely be Delta or United. I'd like assurance from those companies that I will not be booked on a Boeing-manufactured plane. Is that even possible?
Also, America is currently involved in a dozen quasimolitary events across the globe. Our air forces rely on aircraft produced primarily by Boeing. What becomes of our ability to fight if those aircraft fail to perform?
It’s very possible and relatively easy to not fly a particular plane, depending where you’re going. Especially international, their fleets can be more diverse. US carriers use a lot of airbus in general, and European carriers also use Boeing. It’s not like car brands where US has US brands more and EU has more EU brands. It’s all mixed when it comes to the airlines.
If you end up on a small plane, the nation of origin could be somewhere besides the US or France.
Fly Delta, they have a good chunk of Airbus planes for international routes.
Just drive carefully on your way to the airport. You'll be fine. Don't think too much
I would rethink United!
If you can. I'd call and request not a boeing plane.... honestly everyone should call and start requesting not boeing planes
Actually not just ‘leaders’ but managers and IAM machinists who willing cut safety and protocols. As a former Boeing tech then Test and Production Supervisor we ALL k ow what is right and wrong. We know what gets people killed. That is not something Machinists or 1st line supervisor do normally. From a test side we made sure designs met specs, those specs were meant we built a safe airplane that performed to expectations or beyond. Failed tests engineers and our team rebuilt design parts. As production, we knew if we messed up any part of our mfg of wing parts that could create and unsafe build and death. People did this knowing and that is a crime.
Slow down. Getting too far into the weeds. Remember, those machinists have families to feed and needed that job. The same cannot be said for millionaire executives.
Yes, because the most important thing is that the stock prices don't go down.
Head office needs to move back to Seattle.
Bloeing needs to be nationalized, and like the General Motors bailout, and forced to restructure. This cannot keep happening and Airbus doesn’t even have to try and they’ll still be better at this point.
Look up Lauda Air 004 - if the owner wasn’t a certified pilot, the world would be none the wiser….
Dave Calhoun, the best CEO Airbus ever had
And the Mafia loves him too ! ☠️🥺
Nationalize the company.
That would make things worse 😂
@@ytzpilotit cant get worse.
Boeing problem is US corporate culture.
@@user-tt6il2up4o lots of companies build quality in the USA, for example Airbus builds the A220 and A320 series in Alabama, and Mercedes builds cars also in Alabama, both companies produce world class products built by US Labor, so yea just keep doing more of that, build Airbus, Hondas, Toyotas, Mercedes, BMWs in the USA, proof that American Labor is world class, just not under American management.
Nationalising Boeing isn’t the answer when many other companies operate within the USA with no problems, Airbus included. Boeing just has to figure it out or disappear
@@ytzpilot government appointed managers qith fixed salary depndent on results that aren't only the profitability... the share option system promote the short term profitability management with cost and corner cutting as a prefered tool...
@@kolerick you lost me at ‘government’ 🤣🤣🤣🤣
Meanwhile the CEO makes over $20mn/ yr.
The sad part is us in the US have to fly these. GoGo Airbus!
It appears at first glance that Boeing management is more concerned to shut up whistleblower than making reliable airplanes. Did they kill him and if not, who did?
I'm sure glad you can choose which planes you are happy to fly in when you book.
Greedy corporations, CEOs', boards', institutional investors' money-worship, stock buybacks vs aviation, railroad safety
To find the evil just look for the money.
It is dangerous is not the problem. The stock price dropping is the problem. These economist is cold blooded. When the max start falling on the sky, they claim it as only pilot error. Then minor software issue. When door fly away, just contractor issue. Nothing make people worry.
Now the stock crash. People start to worry. So of course it is not human life it matter. It is just the stock price.
Didn't former President Trump reduce FAA oversight when he was President? That is what I heard. Is that related to these issues?
It’s probably true. He started a war on regulation in general. Over regulation is bad. Aviation is an industry where it’s better to over regulate.
@@RealSerie26 well... I would believe that over regulating in the domain of healthcare, food, construction, vehicle of any kind... etc etc is in fact necessary. And then, look at the investment banking mafia and what they did that lead to 2008 and what they're still doing again... what did they (the perps) lose? Their job but they still got away with their ill gained accumulated bonuses. What did the peoples lose? Houses and savings.
should have seen the gal of the US based US venture capital bankster of Credit Suisse, who after sinking the bank tried to sue because their bonuses were cut after the saving by UBS.
No. As much as I despise that scumbag, this has been going on for decades, so it’s not fair to blame it all on it him.
It sounds like Boeing is more interested in pushing new air planes out the door and depositing the money in the bank, than they are concerned about how safe the airplanes are!!
Who certified the MAX to be safe ?
Boeing on behalf of FAA, IMHO....😅😂😅
Dear captain , over 300 people lost their life imagine how many families are mourning out there.
Don’t expect those people loved ones who lost their family members have same opinion that you have to fly with any of 737 max or any other boing for their next flight .
Do the shareholders have a case against the company based on how it damaged its own reputation resulting in a loss of stock value?
Given that all of this stupidity was done on behalf of the exalted shareholders I don't think that their involvement in this is in any way helpful.
our government needs to get involved, take away the upper management of this company and nationalize it. put it under management that is known for their engineering expertise.
If this business is too big to fail than these executives are too incompetent to continue to run it.
@@angelainamarie9656
I'm in favor of nationalising the airlines, the energy industry, the food industry and every other industry where the products or services we all need originate.
Nationalize it, let the people manage it to their own benefit instead of being for the benefit of private investors.
I bet if the people understand that they are indeed working for themselves, their family and neighbors that you wouldn't have the problems we see where private interests benefit like we see today.
Everyone at Boeing should be held accountable. Goes for the employees too. They kept no records or anything. So if I was FFA. I’d stop all manufacturing of these planes.
Technical inspection should always be done and signed off on , period !
Boeing's problems are a bell weather for much of the US corporate endeavor. This needs to be a wake up call across the board for so much of US manufacturing - but the good news is that if this is done the future is incredibly bright.
Even if FAA increases oversight of manufacturing, what about all the planes that have already been built and are in service. The flying public won’t know if the plane they are getting on has been carefully checked over or if it was made before when things were lax.
Fond of life? Take the Airbus. Boeing's management cares more about stock prices than passengers' lives.
They should face some criminal charges about overall 737 MAX certification process as well as discremination about 2 fatal crash investigations in Indonesia and Ethiopia. And some FAA officials should also as they have been neglecting their duties.
I would like to see a public list of all politicians and Super PACS who accepted contributions from Boeing, and all "influencers", journalists, lobbying groups, "image consultants", "crisis management" groups and government employees and agencies who had direct and indirect relationships with Boeing.
I do know of one person who accepted corporate donations from Boeing and that was Nikki Haley. That convinced me that she shouldn't be in office; she's corrupt.!!!!
Nikki Haley was one of them.
@@jocelynharris-fx8ho Wow. I had no idea.
I am pleasantly surprised to see, how cultural and professional was duration of this interview. Each party could completely finish what they had to say, and treated others with highest respect.
It should be the norm, but sadly, today it seems like an exception.
Go Airbus
How are you trying to hold Boeing accountable for an airlines failure to maintain their own aircraft?!? Ive lost all faith in humanity
Companies MUST stop watching stock prices, and focus on their quality. Build it well and the rest will follow. Grant employees stock options but ensure that they do not vest until 10 years AFTER the employees retire…
I wouldn’t worry, there’s thousands of engineers and assorted other professionals flooding across the southern border. The cavalry is on the way
... if you chave to take a flight.. call and request your plane not to be boeing.... thats not worth risking your life.
Good guest smart guy
You can not have an industry, any industry, overseing themselves. It is simply bad, shortsighted, dangerous business.
Something has to be done. What the heck has gone wrong with Boeing?!
They are really big on DEI hiring I just checked it out
Get the lawyers and accountants out of the executive offices and put engineers back in charge. BOEING NEEDS TO SATISFY passenger safety and NOT investment bankers pocket books! The solution is not complicated. It will be costly.
NTSB Should also police the Comatose FAA.
Oversiight government oversight is what I am constantly hearing. Will the US government replace by subsidizing Boeing's Q&A??? FAAs job should be INSPECTION AND SIGNOFF , and if anything is wrong, SALES BAN or grounding.
They have maintenance management software commonly available, the trick is that the software won't fix the plane😂Remember 787... I'm not going to get on one of those
Indian Airline - Akasa Air recently placed an order of 150 Boeing 737 Max 8 planes, i wonder where would the money go post plunging? They were already in trouble with the pilots absconding last year and then came with this silly idea. Huge mistake to go for Boeing over airbus.
They need complete change in management and Board. They need an Elon Musk like leader committed to top notch engineering above all else.
When it comes to accounting, so far they have only been counting zeroes on their accounts.
Boeing should look at this whole issue as a blessing in disguise. No one has been killed yet from all of their shortcomings, so loss suits aren't costing them as much yet. They still have a chance to prevent future accidents, if they are vigilant and honest. Help will arrive if they ask for it. A deflated ego is a good starting point for recovery
The Boeing corporation is definitely fulfilling its role! It’s proper role is to make it shareholders enough money that they can afford never to fly on the products of Boeing corporation. Who cares about passenger safety as long as the shareholders are OK? The FAA is also fulfilling its role! The role of the FAA is to be a booster for civil aviation. It’s not their role to hold the Boeing corporation accountable. It’s their role to sign off PERIOD.
hold them accountable for putting quality control under production
The poor Yahoo journalist was clueless in this interview. FAA air traffic control?
damages of affirmative action
Doesn't help laying off or forcing retirement on a bunch of knowledgeable engineers, either.
I will never fly on another boing
Research does not include being emotionally invested. It clouds judgement.
1. Pilots deviated from the manual.
2. Full takeoff thrust while trying to trim the plane manually.
3. Turning on the Trim Stab.
4. Not correcting their mistakes in a timely manner in a low altitude situation.
5. Captain asked the copilot to help him trim the plane distracting him from looking at his flight instruments where he would realize the flight was over speeding.
At this point China’s new commercial passenger jet manufacturer has a better reputation than Boeing.
Thank you for teaching me how to properly manage my capital and minimize risks in trading.
If its a boeing i ain't going
So sad. they threw out the “engineers” from running things cause they were wasting money on “safety”
So now Mc Douglas says no more engineers in charge we are gonna put money ahead of safety. 😮 So who’s taking all this money they are making ? or had made and then they left the company? cause your losing customers big time now 😮 Respect is gonna be very hard to earn back, now it’s lost. 😢
They should be accountable for murder the whistleblower
Who gives a damn about the share price. What they need to do is sack all the accountants and lawyers in leadership and replace them with engineers with long-term thinking. But looking at the share price is the most stupid measure of a company.
It’s only dangerous for people that fly commercial. But don’t worry DEI will fix it.
I’m respectful we’re in a sick way greed
I think I will drive instead of fly until they get their act together
Motto used to be if its not boeing im not going. Now is if its a boeing im not going😅
The aviation industry is highly profitable business as well as the corruption and criminality conducted of lowering of the manufacturing processes standards goes within:- as far it brings money to the corrupt governments, who cares about the real or potential casualties? As in the case of the Belfast based Short's Plc, once under the Bombardier , then Airbus, now under the Spirit Aerosystems,- as the Boeing's main parts supplier,- there has been no single audit, inspection, follow up of its corrupt production practices/criminality of supplying the global transportation with its substandard products, by the EASA nor FAA up-to-date, - for keep on profiteering of this british criminality targeting and affecting the global transportation and public safety ..
Where does Boeing go from here? Bankrupt.
nationalize it.
Booing sucks
The leaders that created the 737 max and led up to this are long gone with hundreds of millions of dollars in their pockets. The FAA gonna bring them back and have a talk
This will all pass.
boeing good before merge with mcdonell douglas and before stupid competition with Airbus.
passenger need safe plane not good but dangerous plane.indeed the management need to change cause their mindset now as similar as minivan manufacturer when making plane.
I agree with the sentiment but do not call anyone that comes on as an expert. If he is an expert he should have ex-ante solvedxthe problems.
Boeing has NO RULES! FAA??
WHAT A JOKE!
Change the management, change the board, and it won't make any difference. The ventre capital and hedge funds that control the stock will appoint another group of similar yes-men. The real solution is a need for old-fashioned "trust busting."
Don't call the CEO before congress, call the big fund managers that control the stock.
After declaring we turn an engineering firm into a business see the results, the interviewer asking bringing production in house is a joke in house errors are happening. Shaking a dead chicken are industries wide the SMS safety management system have companies including Boeing manage the safety and quality of their product because regulators like FAA does not have the resources
Butteries and the FAA have been sleeping on the job!
FAA is DEI. Hired and has no idea what is an aircraft?? 😳
This is the kind of stuff that happens when you involve the most hateful people in the world with your business. (south carolineans)
What was/is FAA doing ? Shouldn't their goal be to protect the tax paying public ?
The wrong people in the wrong positions for the wrong positions. End of story. The only thing Boeing needs to do is empower the frustrated high performers and fire the vast majority of current management, which are the low performing, toxic dim/mid wits, working from top to bottom. Everything else is empty noise.
Boeing is going...to the same place that Pan Am went to ; the aviation graveyard.☠️☠️☠️ 2 once great and mighty companies that did so much for air travel, were both destroyed by poor management, greed and a disregard for safety.🥺
Only the planes fall one by one will the CEO take the problem seriously. Their eyes are covered by greenies and their mind is about what is how much millions for me. More sales of tofu planes more bonuses and right shares for me and me alone. 45 is not held accountable implies I have the immunity