The U.S. National Transportation Safety Board on Monday said more than 40 foreign operators of Boeing 737 airplanes may be using planes with rudder components that may pose safety risks.
The Boeing (BA) factory worker strike heads into its third week, with the union reporting talks with the company have broken off. Wall Street analysts have lowered their targets for Boeing stocks, citing costs associated with the strike.
Boeing's two-week-old strike has forced aerospace supplier Pathfinder Manufacturing to furlough 14 out of the company's 54 employees, and CEO Dave Trader fears he may need to send more home if the stoppage grinds on.
Boeing Company proposed its ‘final' offer last week to end a strike that has impacted over 33,000 workers. Boeing's strike may be followed by 45,000 ILA dockworkers on the East Coast and Gulf, who threaten to shut down some of North America's busiest ports. The port strike could pressure supply chains and disrupt over 50% of U.S. imports, including transportation, food, apparel, footwear, and accessories.
Last month, Boeing replaced its CEO after reporting massive losses and a sales miss in its Q2 earnings report. This month, Boeing is replacing the CEO of its defense and space business -- but the replacement is only temporary.
The NTSB issued the warning to Boeing and the FAA for a potential issue regarding the rudders for some 737 Next-Generation and 737 Max 8 aircraft.
Boeing and its machinists' union returned to the negotiating table on Friday to hash out differences over workers' demand for a 40% wage increase. Boeing is in a weak negotiating position after its initial offer of a 25% raise over four years was rejected.
The union for striking Boeing workers said Friday that talks with the aviation giant "broke off" without agreement, after some 33,000 US employees walked out this month.
The International Association of Machinists and Aerospace Workers (IAM) said late on Friday that its pay deal talks with Boeing had broken off and that there were no further dates scheduled for negotiations at this time.
U.S. District Judge Reed O'Connor said Friday he will hold a hearing on Oct. 11 to consider objections from relatives of those killed in two Boeing 737 MAX crashes to the planemaker's agreement to plead guilty to criminal fraud conspiracy.
The Boeing Company's strike has disrupted deliveries, with only 32 jets delivered by September 27, impacting production and supply chain stability. August saw a significant drop in orders, with only 22 airplanes ordered, down from 72 in July, reflecting production uncertainties. Boeing delivered 40 airplanes in August, but year-to-date deliveries are down 25% in units and 24% in value compared to last year.
Brenda Vingiello, Chief Investment Officer at Sand Hill Global Advisors, joins 'Halftime Report' to break down her latest portfolio move