Business

Boeing CEO Is Appearing Before A Senate Panel As A New Whistleblower Emerges

Published

5 months ago

2024-06-18

Boeing | AP News Image

U.S. legislators are set to question Boeing’s CEO on Tuesday about the company’s newest plan to address manufacturing issues, and relatives of those killed in two Boeing 737 Max airliner tragedies will be in the room to watch.

CEO David Calhoun is slated to testify before the Senate investigations subcommittee, chaired by Boeing critic Sen. Richard Blumenthal, D-Conn.

Hours before Calhoun was scheduled to appear, the Senate panel issued a 204-page report including additional allegations from a whistleblower who is concerned that “nonconforming” parts — those that may be defective or not properly recorded — are being installed in 737 Max jets.

Boeing | Fox Image

Boeing CEO Is Appearing Before A Senate Panel As A New Whistleblower Emerges

Sam Mohawk, a quality assurance investigator at Boeing’s 737 assembly factory outside Seattle, claims the corporation concealed proof of the condition after the Federal Aviation Administration told it a year ago that it would inspect the facility.

“Once Boeing received such a notice, it ordered the majority of the (nonconfirming) parts that were being stored outside to be moved to another location to intentionally hide improperly stored parts from the FAA,” Mohawk stated in the study. “Approximately 80% of the parts were moved to avoid the watchful eyes of the FAA inspectors.”

Mohawk stated the parts were later returned or lost. They included rudders, wing flaps, and tail fins, all necessary for plane control.

The panel stated that records and whistleblower statements “paint a troubling picture of a company that prioritises manufacturing speed and cost savings over ensuring aircraft quality and safety.”

The hearing will be Calhoun’s first appearance before Congress or any other high-ranking Boeing official since a panel blew out a 737 Max during an Alaska Airlines flight in January. The event did not result in significant injuries but aroused new concerns about the company’s best-selling commercial aircraft.

The National Transportation Safety Board and the Federal Aviation Administration conduct separate investigations.

“From the start, we accepted responsibility and worked transparently with the NTSB and the FAA,” Calhoun stated in prepared statements for the hearing. He defended the company’s safety culture.

“Our culture is far from perfect, but we are taking action and making progress,” Calhoun said during his prepared remarks. “We are taking comprehensive action today to strengthen safety and quality.”

Blumenthal heard this previously when Boeing dealt with fatal Max crashes in Indonesia in 2018 and Ethiopia in 2019.

“Boeing pledged to change its safety processes and culture five years ago. “That promise proved empty, and the American people deserve an explanation,” Blumenthal stated while announcing the hearing. He described Calhoun’s statement as a critical step for Boeing to regain public trust.

Boeing | NBC Image

Boeing CEO Is Appearing Before A Senate Panel As A New Whistleblower Emerges

Calhoun’s presence was also scheduled as the Justice Department considered whether to charge Boeing for violating the settlement terms reached following the tragic crashes.

The firm says it received the message. Boeing says it has reduced production, encouraged employees to raise safety issues, shut down assembly lines daily to allow workers to discuss safety, and appointed a former Navy admiral to conduct a quality review. Late last month, it delivered an improvement plan requested by the FAA.

The barrage of bad news for Boeing continues, however.

Last week, the FAA announced an investigation into how falsely documented titanium parts entered Boeing’s supply chain, and federal inspectors investigated “substantial” damage to a Southwest Airlines 737 Max following an unexpected mid-flight control issue.

Boeing said that it hasn’t received a single request for a new Max—its previous best-selling airliner—in two months.

Blumenthal first requested Calhoun’s appearance before the Senate subcommittee when a Boeing quality engineer whistleblower claimed that production flaws were posing safety hazards on two of Boeing’s largest jets, the 787 Dreamliner and the 777. He stated that the corporation needed to explain why the public should believe in Boeing’s work.

Boeing denied the whistleblower’s assertions, claiming that comprehensive testing and inspections revealed none of the issues the engineer had foreseen.

Boeing | CNBC Image

Boeing CEO Is Appearing Before A Senate Panel As A New Whistleblower Emerges

Calhoun announced in late March that he would retire at the end of the year. The leader of the company’s commercial aeroplanes segment quit on the same day.

Families of those killed in the Boeing Max disaster in Ethiopia intend to attend Tuesday’s hearing on Capitol Hill. They have frequently asked the Justice Department to pursue Boeing.

Zipporah Kuria, whose father was killed in the collision, stated, “We will not rest until justice is served.” She urged the US government to “hold Boeing and its corporate executives criminally responsible for the deaths of 346 people.”

Last month, the Justice Department found that Boeing breached a 2021 settlement that protected the firm from fraud charges for allegedly deceiving regulators who approved the 737 Max. According to a senior department official, Boeing failed to implement steps to detect and prevent future infractions of anti-fraud rules.

Prosecutors have until July 7 to decide what they will do next.

SOURCE – (AP)

Kiara Grace

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

See Full Bio

Business

Subsidies for Electric Vehicles Cut as Consumer Interest Fades

Published

3 days ago

2024-11-04

Geoff Thomas

Electric vehicles (EVs) are still considerably more expensive than traditional alternatives.

Pressure is building on Canada’s electric vehicle manufacturers, and several are rethinking their stance on E.V.s in favor of plug-in hybrids. Automobile manufacturers are now bracing themselves for an even more challenging era in the Canadian market for electric vehicles (E.V.s).

President Kristian Aquilina of General Motors Canada claims that support and expectations are misaligned because the Canadian government is reducing subsidies for electric vehicles while trying to phase out gas-powered cars.

Manufacturers find pushing for an all-electric future in Canada increasingly difficult due to fewer consumer financial incentives and increasingly strict sales targets.

With subsidies totaling up to C$12,000 (about $8,500), Canadian consumers may save a tonne of money on electric automobiles. The federal government offers a rebate of up to $5,000 Canadian, and the provinces of Quebec and British Columbia provide further incentives of up to $7,000 and $4,000, respectively.

Ford lost about 2,000 US for every EV it sold in the first three months of the year.

Ford lost about $132,000 US for every E.V. it sold in the first three months of the year.

Ontario, which eliminated rebates in 2018, had the lowest market share for electric vehicles compared to Quebec and British Columbia, two regions that offered bigger incentives and thereby drove E.V. adoption in Canada.

Although this backing is dwindling, the province of Quebec has now declared that all subsidies will end in 2027. In June, the British Columbia government restricted incentives to a smaller subset of E.V. purchasers for “available funding” and higher-than-expected E.V. sales growth.

These reductions indicate a larger pattern: provincial governments reevaluate the sustainability of taxpayer-financed incentives for E.V.s as budget deficits widen.

With lofty goals to cut pollution from gas-powered cars and increase sales of electric vehicles, the Canadian government has reduced subsidies for these vehicles. Electric or plug-in hybrid vehicles will be mandatory for all new light-duty vehicle sales in Canada by 2035.

B.C. needs to step up with incentives for consumers to buy used EVs, some opposition critics say.

Some opposition critics say that B.C. needs to step up with incentives for consumers to buy used E.V.s.

To meet our intermediate goals, 20% of new sales must be electric vehicles (E.V.s) by 2026 and 60% by 2030. Car companies are already under a lot of pressure due to dwindling incentives and increasing demands, and the clock is ticking faster by the second.

In addition, these rules impose new forms of responsibility. Automakers that do not reach their provincial sales targets may be subject to financial fines imposed by provinces such as British Columbia.

Canadian manufacturers are already under financial pressure from federal compliance credit system standards, which they must meet or face deficits. This system gives them credit for electric vehicle sales and infrastructure improvements, but it’s not without its challenges.

“The timing is not necessarily lining up very well, in that the purchase incentive support comes off just as mandates and regulations start to bite,” GMC Canada President Kristian Aquilina told Bloomberg. “It must make a difference.

Therefore, we must consider that. Despite the cutbacks, Aquilina argued that the government’s investment in enhancing the charging infrastructure could benefit E.V. sales.

Tesla Sales Fall As More Electric Vehicles Crowd the Market

Tesla Sales Fall Again As More Automakers Crowd Electric Vehicle Market

Geoff Thomas

Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

See Full Bio

Business

Chewy Slides After Filing Shows 3rd-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

Published

1 week ago

2024-10-30

Kiara Grace

Washington — Chewy shares fell about 2% overnight Wednesday after a regulatory filing showed that Roaring Kitty, a meme stock trader, sold his interest in the online pet retailer.

According to a beneficial ownership document filed with the Securities and Exchange Commission on Tuesday, Roaring Kitty, whose legal name is Keith Gill, sold all his Chewy shares, totaling 6.6% of the company.

Chewy Slides After Filing Shows Third-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

Plantation, Florida-based Chewy dropped 1.9% after hours to $26.19 per share.

Gill, an investor at the core of the meme stock craze, bought more than 9 million shares of Chewy in July, making him the company’s third-largest stakeholder.

Gill built a name for himself in 2021 by rallying ordinary investors around GameStop. At the time, the video game shop was fighting to stay in business, and major Wall Street hedge funds and investors were betting against it or shorting the stock. But Gill and those who agreed with him altered GameStop’s direction by purchasing thousands of shares despite practically all acknowledged criteria indicating that the firm was in deep peril.

Chewy Slides After Filing Shows Third-Biggest Shareholder, ‘Roaring Kitty,’ Sold His Stake

That triggered what is known as a “short squeeze,” in which large investors who had bet on GameStop were obliged to buy its swiftly increasing stock to offset significant losses.

Gill has expressed confidence in GameStop Chairman and CEO Ryan Cohen’s ability to revamp the company following his success at Chewy. Cohen cofounded Chewy in 2011 and stepped down as CEO in 2018.

SOURCE | AP

Kiara Grace

See Full Bio

Business

Canada CBC News CEO Catherine Tait Recalled to Parliamentary Committee

Published

1 week ago

2024-10-30

Geoff Thomas

Catherine Tait won't rule out taking bonus once she leaves CBC/Radio-Canada

Canada CBC News reports that MPs have voted to recall CBC CEO Catherine Tait to a Commons committee for questioning, only a week after her last appearance, over the awarding of $18 million in bonuses to Canada CBC news executives.

The Conservatives, the Bloc Québécois, and the NDP joined forces to re-invite Ms. Tait, her successor Marie-Philippe Bouchard, and Heritage Minister Pascale St-Onge to appear before the Commons Heritage Committee.

Ms. Tait, who will relinquish her position as CEO and president of CBC/Radio Canada in January, addressed the committee last week. The House of Commons has passed a motion recalling her before the conclusion of her term, and she is now subject to an additional two hours of interrogation, which includes inquiries regarding bonuses.

MPs also resolved to summon Quebec broadcasting executive Marie-Philippe Bouchard, appointed as the new chief of CBC/Radio-Canada last week, to appear before she begins her new job following a House of Commons chamber debate.

Catherine Tait Exit Package

Catherine Tait rejected the Conservatives’ requests to deny an exit package, including bonuses, when she departed the position in January during last week’s committee hearing.

She also defended the award of $18.4 million in incentives to 1,194 staff members for the 2023-2024 fiscal year, which concluded in March, following the broadcaster’s achievement of performance indicators.

Kevin Waugh, a Conservative committee member who introduced the motion, stated that his party aimed to ensure Ms. Tait was “accountable to taxpayers” before her departure in January.

He informed The Globe and Mail that “Canadians are dissatisfied with the bonuses” and that Catherine Tait‘s exit package, which will not be disclosed, is a cause for concern.

“I am apprehensive that she has not received her bonuses in over two years, and that the Minister of Heritage or Privy Council will lavish her with bonuses when she departs in January,” he stated.

The Liberals opposed a portion of the motion that claimed that “the Liberal threat to cut funding” had resulted in the elimination of hundreds of jobs at CBC/Radio-Canada.

Defunding CBC News Canada

The Heritage Minister informed The Globe that the claim was “hypocritical,” as the Conservatives intended to completely defund CBC.

“The Conservatives’ actions today are a clear example of hypocrisy.” Ms. St-Onge stated that performance bonuses increased by 65% during the Harper Conservatives’ tenure, while CBC News Atlantic Canada experienced substantial budget cutbacks.

“As a government, we do not require any lessons from a party that has pledged to reduce the funding of CBC/Radio-Canada and the 8,000 jobs associated with it during its campaign.”

During the Tuesday debate, NDP MP Niki Ashton stated that her party endorses the “banning of executive bonuses” at CBC News Atlantic Canada but is opposed to “the Conservatives’ full frontal attack” on the broadcaster.

She stated, “We require a robust public broadcaster, but not one that distributes executive bonuses and eliminates positions.”

If the Conservatives establish the next government, they intend to deprive the CBC of public funding while maintaining French services.

Catherine Tait defended CBC and rebuffed MPs’ assaults during last week’s committee hearing. “It is evident that the members of this committee are making a concerted effort to discredit the organization and vilify me,” she stated.