As reported in The New York Times, Boeing manufacturing facility in North Charleston, South Carolina overlooked manufacturing defects in the jets raised by employees and pressurized the team to speed up the production process.The report pointed out how “hundreds of pages of internal emails, corporate documents, and federal records,” by the employees about the lapses were ignored and meeting production demands were prioritized at the cost of quality. The investigation highlights that faulty parts have been installed and other safety measures have been compromised.
However, Boeing refused to acknowledge the claims and in defense stated “Boeing South Carolina teammates are producing the highest levels of quality in our history,” in a statement to The New York Times.Brad Zaback, the vice president and general manager of Boeing’s 787 programs, issued a statement on the allegations “A story that posted in today’s New York Times, however, paints a skewed and inaccurate picture of the program and of our team here at Boeing South Carolina. This article features distorted information, rehashing old stories and rumors that have long ago been put to rest,” as reported in a memo to CNBC. Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here! week4 (2)