Investigators say they confirmed pilots' account of a rudder-control failure on a Boeing Max jet
Investigators say they confirmed pilots' account of a rudder-control failure on a Boeing Max jet
Federal investigators have confirmed an account by pilots who say the rudder controls on their Boeing Max jetliner failed during a landing last month.
United Airlines pilots said pedals that control rudder movement on the plane were stuck as they tried to keep the plane in the center of the runway during the Feb. 6 landing.
The pilots were able to use a small nose-gear steering wheel to veer from the runway to a high-speed turnoff. The rudder pedals began working again as the pilots taxied to the gate with 155 passengers and six crew members on the flight from Nassau, Bahamas, according to a preliminary report by the National Transportation Safety Board.
Boeing said this is the only rudder-response issue reported on a Max, although two similar incidents happened in 2019 with an earlier model of the 737 called NG or next generation, which has the same rudder-pedal system.
The manufacturer said the issue was fixed by replacing three parts. The plane has made dozens of passenger-carrying flights since then, according to data from FlightAware.
I think Boeing should rethink their strategy. How are their Stockprices not at the bottom of the ocean yet? Cutting so many corners and risking so many lifes should not be legal. This should definitely be prosecuted. Either ban all the current executives or ban the planes.
Because they're busy buying back their stock, causing the stock price to go up.
I don't think public companies should be able to do this, but they seem to do it all the time.
I'm pretty sure it was made illegal after the stock crash, or at least way more tightly regulated. Then Reagan made it cool again.
That's what I don't get, their stock goes down for a while but then people think it's a good time to buy and it goes back up. Like it doesn't affect them at all. Casually kill 400 people and barely anything happens.
Every time there's a bad-news dip in Boeing's stock price, traders are treating that as a discount to buy the stock because they don't think the US government would ever allow Boeing to fail. Sadly, they're probably not wrong. If Boeing's financials get into deep trouble the US government would likely bail them out because they're a large employer and a strategic component of US economic hegemony.
The stock market is pretty damn efficient at processing all the information related to the stock price. Stock goes up because realistically Boeing isn’t going anywhere.
They are still going to make money.
Because the stock market knows the US government would never let Boeing fail. Ever since the 2008 crisis investors have been acting on the assumption that every company that is too important for the US economy will be bailed out (as in, given low interest loans, not nationalised like a sane government would do).
Boeing doesn't need to fail. They're not going to, government assistance or not, they are still a profitable company of their own right. This isn't a case of bad investments like in 2008. So unless every company buying aircraft cancels their orders, which they won't, Boeing will continue to be fine. Besides, simple fact is Airbus doesn't have enough production capacity to replace Boeing.
That said, I would love to see their stock price tank. That doesn't bankrupt the company. It will fuck up their investors though. And those investors are the ones who would demand new management and, if they act collectively, can actually force new management to happen within a year. Any shareholder can put forward a shareholder resolution. A shareholder resolution could replace any or all of the company management. And if a majority of shareholders vote for it by proxy at the next annual meeting, then that's what happens.
If I were a Boeing shareholder, I would put a shareholder resolution that upper management must step down within the next 8 months, and the company headquarters must move from Washington DC back to Seattle where they build airplanes. Furthermore, the company charter would be amended to say that only someone with an engineering background may serve as CEO or in certain other upper management roles.
It is one of the annoying side-effects of capitalism. Many companies start in a good place with quality setting them apart from others, and they then experience natural organic growth. Then they go public, go through some merger/takeovers, the original owners are either forced out, retire, or die, and at that point, the focus is shareholder profits and not what got them there.
Their lack of QA eventually catches up with them, people die, bad things happen. They'll up their quality, hire QA engineers again, claim they are doing the best for quality for a few quarters until the public eye is off them. Then they'll just start cutting quality back again.
Publicly traded companies eventually never care about quality, or safety, or human lives. It is in their nature.
They are an arms manufacturer, too. I think this helps hedge their position(even though that side is having some issues also.)
Mostly I think it is because there is no competition.
I was wondering the same thing about one of these planes and the ocean, tbh.
I think there's a few execs over at Boeing who haven't seen All My Sons yet
Holy dick bags Batman. Cold environment testing is normal stuff. Coupled with cycle testing, and this shit ain't supposed to happen.