• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Boeing says it’s progressing on safety reforms and working with DOJ on revised plea deal

by April 3, 2025
written by April 3, 2025

WASHINGTON — Boeing CEO Kelly Ortberg told senators on Wednesday that he’s happy with the company’s progress improving manufacturing and safety practices following several accidents, including a near catastrophe last year.

Ortberg faced questioning from the Senate Commerce Committee about how the company will ensure that it doesn’t repeat past accidents or manufacturing defects, in his first hearing since he became CEO last August, tasked with turning the manufacturer around.

Sen. Ted Cruz, R.-Texas, the committee’s chairman, said he wants Boeing to succeed and invited company managers and factory workers to report to him their opinions on its turnaround plan. “Consider my door open,” he said.

Ortberg acknowledged the company still has more to do.

“Boeing has made serious missteps in recent years — and it is unacceptable. In response, we have made sweeping changes to the people, processes, and overall structure of our company,” Ortberg said in his testimony. “While there is still work ahead of us, these profound changes are underpinned by the deep commitment from all of us to the safety of our products and services.”

Boeing CEO Kelly Ortberg testifies on Capitol Hill on April 2.Brendan Smialowski / AFP – Getty Images

Boeing executives have worked for years to put the lasting impact of two fatal crashes of its best-selling Max plane behind it. 

Ortberg said Boeing is in discussions with the Justice Department for a revised plea agreement stemming from a federal fraud charge in the development of Boeing’s best-selling 737 Maxes. The previous plea deal, reached last July, was later rejected by a federal judge, who last month set a trial date for June 23 if a new deal isn’t reached.

Boeing had agreed to plead guilty to conspiring to defraud the U.S. government, pay up to $487.2 million and install a corporate monitor at the company for three years.

“We’re in the process right now of going back with the DOJ and coming up with an alternate agreement,” Ortberg said during the hearing. “I want this resolved as fast as anybody. We’re still in discussions and hopefully we’ll have a new agreement here soon.”

Asked by Sen. Maria Cantwell, the ranking Democrat on the committee, whether he had an issue with having a corporate monitor, Ortberg replied: “I don’t personally have a problem, no.”

Ortberg and other Boeing executives have recently outlined improvements across the manufacturer’s production lines, such as reducing defects and risks from so-called traveled works, or doing tasks out of sequence, in recent months, as well as wins like a contract worth more than $20 billion to build the United States’ next generation fighter jet.

But lawmakers and regulators have maintained heightened scrutiny on the company, a top U.S. exporter.

“Boeing has been a great American manufacturer and all of us should want to see it thrive,” Sen. Ted Cruz, a Texas Republican and chairman of the committee, said in a statement in February announcing the hearing. “Given Boeing’s past missteps and problems, the flying public deserves to hear what changes are being made to rehabilitate the company’s tarnished reputation.”

The Federal Aviation Administration last year capped Boeing’s production of its 737 Max planes at 38 a month following the January 2024 door plug blowout. The agency plans to keep that limit in place, though Boeing is producing below that level.

Ortberg said at the hearing Wednesday that the company could work up to production rate of 38 Max planes a month or even higher sometime this year, but said Boeing wouldn’t push it if the production line isn’t stable.

Acting FAA Administrator Chris Rocheleau said at a Senate hearing last week that the agency’s oversight of the company “extends to ongoing monitoring of Boeing’s manufacturing practices, maintenance procedures, and software updates.”

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Which countries impose the highest tariffs on the US?
next post
‘False’: Trump admin rebukes claims intel officials are frequently using Signal to send classified info

related articles

Trump accused Fed Governor Lisa Cook of mortgage...

August 28, 2025

AI detects sound of frog species threatened in...

August 28, 2025

Lego hits record revenue in first half of...

August 28, 2025

Google has eliminated 35% of managers overseeing small...

August 28, 2025

Cracker Barrel will go back to old logo...

August 27, 2025

Frontier Airlines goes after struggling rival Spirit’s customers...

August 27, 2025

What a stake in Intel could mean for...

August 26, 2025

Cracker Barrel assures customers its values remain the...

August 26, 2025

U.S. could take stakes in more firms, White...

August 26, 2025

Keurig Dr Pepper to buy Peet’s Coffee owner...

August 25, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Epstein files debacle spurs new interest in contents of promised RFK, MLK assassination files

    February 28, 2025
  • Newsom taunts Trump with series of comments about president’s ties to Epstein amid efforts to avoid subject

    July 17, 2025
  • Jamie Dimon walks political tightrope, may be considering Harris cabinet position: report

    October 24, 2024
  • War-torn regions have keen interest in US elections

    October 30, 2024
  • President Trump discovers letter from former President Biden in Resolute Desk

    January 21, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,841)
  • Investing (634)
  • Stock (908)

Latest Posts

  • Dem, GOP insiders both see major opportunity after Biden’s first solo presser in months

    July 13, 2024
  • The dollar index is losing ground below support at 104.00

    July 17, 2024
  • ‘Ideological balance’: Supreme Court’s conservative majority to stay no matter who wins election, experts say

    October 25, 2024

Recent Posts

  • Intelligence agency classifies country’s popular Alternative for Germany party as ‘extremist’

    May 2, 2025
  • Trump gets rare Democrat support for new tariffs: ‘This is a good start’

    April 3, 2025
  • Israel accuses Iran of smuggling weapons into Jordan as region braces for possible retaliatory strike

    August 12, 2024

Editor’s Pick

  • Patel, Gabbard to appear before Senate committees next week

    January 24, 2025
  • Revenge porn bill backed by Melania Trump heads to president’s desk after overwhelming House vote

    April 29, 2025
  • Supreme Court divided over state effort to defund Planned Parenthood

    April 2, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock