humanitarian worker died _ under mr calhoun. humanitarian worker died when _ under mr calhoun.ian worker died when the _ under mr calhoun. humanitarian worker died when the ethiopian | worker died when the ethiopian plane crashed. hat worker died when the ethiopian plane crashed.— plane crashed. not only does oor sa plane crashed. not only does poor say to — plane crashed. not only does poor say to kill _ plane crashed. not only does poor say to kill people - plane crashed. not only does poor say to kill people but i poor say to kill people but it's pretty damning foot for careers— it's pretty damning foot for careers of ceos as well. let's -et careers of ceos as well. let's get somebody who can put a focus — get somebody who can put a focus and make plans safer for everybody. in focus and make plans safer for everybody-— everybody. in a letter to workers _ everybody. in a letter to workers mr— everybody. in a letter to workers mr calhoun - everybody. in a letter to l workers mr calhoun said, everybody. in a letter to - workers mr calhoun said, the alaska airlines accident was

dave calhoun has been on the board since 2009. he has been there a long time and this is a company that is desperately in need of rush perspectives. who should they get to bring in that fresh perspective? there'll be a lot of eyes directed towards larry culp given the turnaround he is been able to orchestrate at ge. i do not know if you would be interested in this because he is a great job in edd -- because he has a great job at ge. that is the type of person you need to get in there and focus on manufacturing that is the heart of what boeing does. they got off course as far as i am concerned and you need somebody to produce airplanes that do not have any defects. jonathan: how do you meet that with the need for industry knowledge? i am looking at the change for commercial knowledge. stephanie pope has been named. what you make of that transition? brooke: that is another one where it was not tenable to keep the management in place running the commercial airplanes division because that is a lot of the problems were from. you are se

dave calhoun will step down as ceo as the company grapples with crisis. however calhoun will stay on through the end of 2024 and have a say in who his successor is. chips under pressure. after china has adopted new guidelines, designed to limit the use of u.s. microprocessors and intel and amd shares fall. in spring break in full swing. we will check in with priceline ceo brett keller about the state of revenge travel and how the outlook compared to last year. ♪ >> welcome to bloomberg markets. a look at markets on this monday morning and it is a sea of red behind me. we are talking about huge downdrafts year, the s&p 500 currently off by about 2/10 of 1%, even more so if you go down the list. those big tech names, that benchmark under pressure as well, currently off by about half of 1% and a love that ties back to what we are seeing in the chips face with intel and amd which we will discuss. the philadelphia semiconductor index currently off by about 6/10 of 1%. but we want to get back to boeing, one of the big stories today after announcing sweeping man

——in a letter to staff, dave calhoun. there and as she mentioned, mr calhoun was brought in in early 2020 after another safety crisis. ed pierson is the executive director at the foundation for aviation safety, and is also the former senior manager at one of boeing's 77 factories in the us. he said mr calhoon had no success at boeing. i he said mr calhoon had no success at boeing.- he said mr calhoon had no success at boeing. i think he “ust not success at boeing. i think he just got out _ success at boeing. i think he just got out of— success at boeing. i think he just got out of the _ success at boeing. i think he just got out of the gate - success at boeing. i think he just got out of the gate and l just got out of the gate and there were failures right away. ——mr calhoun. remember he was part of the old team, on the board of directors for ten years. he was there when the two crashes occurred. i don't think he has been successful at all. ~ . ., , , think he has been successful at all. ., .,, , ., ., all. what does this

tony, to you first of all, are you pleased calhoun is leaving >> great to be back. you know, i think overall this was an orderly transition that boeing was making in the long run. obviously calhoun will be 67 and they extended the retirement age for him and he was never going to get to 70 and january probably accelerated the time line somewhat, but overall, i think he's here to finish the job. he's bringing the ability to boeing and i think that's sort of how he'll finish the job, and i think the second piece is getting the vertical integration like he talked about with spirit and getting negotiation started and that's the stepping-stone for the next ceo to take over. >> the stock's up 1.5% and it's up more in the pre-market. does that make sense to you? would it build on these gains? >> investors are look for a catalyst for change. it's a company, clearly, dissatisfaction that customers were having, something had to happen and you see a big change, a change in ceo and a change in chairman of the board with the commercial company and you need to bring in, the big qu

in a letter to workers, mr david calhoun said...cessor will need both qualities if they're to pilot the aerospace giant back into less turbulent skies. theo leggett, bbc news. plenty more on this story including the news analysis on the bbc news website. now to the annual boao forum for asia. it kicks off today in hainan in southern china. technology, trade and innovation are high on the agenda and the list of attendees include various high—profile business leaders. let's get more from our asia business reporter, sura njana tewari. tell us more about this forum and tell us why it is more important. it and tell us why it is more important-— and tell us why it is more imortant. , ., ., , , important. it is an opportunity for foreign _ important. it is an opportunity for foreign investors _ important. it is an opportunity for foreign investors to - important. it is an opportunity for foreign investors to come l for foreign investors to come to china and see where they might want to put their money. it is also a chance for chinese busin

began to tell calhoun who spent much of his career of general electric. and it's been on the board of boeing since 2002 always pushed the message that it's planes were a safe place. we believe in our forties. we feel the safer planes. our people do. you have confidence of the safety of our planes. and that's what all of this is about. not everyone shares, calhoun, confidence, and discussions about our leadership change have been going on for some time. housing and stepped in as boeing's chief executive to deal with the crisis. the crashes of 2737 max planes, in 20182019 that killed 346 people. 4 years later he steps, aside with the manufacturer still, martin crisis over the quantity of its aircraft. the federal aviation administration gave boeing failing grades on nearly 3 dozen aspects of production at at 737, factory near seattle. the company has on the lake mates, tell the f a how it plans to turn things around. been a real issue. it's boeing is also lost. can you customers to european, arrive on air bus, say that way? it's not immediately clear who wi

in a letter to workers, mr david calhoun said...cessor will need both qualities if they're to pilot the aerospace giant back into less turbulent skies. theo leggett, bbc news. plenty more on this story including the news and allow —— analysis on the bbc news website. now to the annual boao forum for asia. it kicks off today in hainan in southern china. technology, trade and innovation are high on the agenda and the list of attendees include various high—profile business leaders. let's get more from our asia business reporter, sura njana tewari. tell us more about this form and why it is so important this year. steve, the boao forum is sometimes dubbed as asia's davos. it's an effort for chinese leaders to try and court things like foreign investment and even chinese businesses to try and expand. boy does it needed at the moment. it's obviously got that property crisis, youth unemployment is very high as well, so politicians want foreign investors to go to china, pour in money and they also want to local businesses to expand. china a

in addition to calhoun the head of commercial aircraft is leaving. the head of 737 production has already left. and boeing's board chair will not seek re-election. >> boeing needs to ensure the quality control and the safety metrics that the airlines are looking for. >> reporter: several airlines today said they're committed to boeing as it moves to buy and integrate spirit aerosystems, its troubled fuselage maker. in an e-mail to employees calhoun today said, "the eyes of the world are on us, and i know that we will come through this moment a better company." >> and tom, boeing's headaches have not been limited to the 737 max. >> reporter: that's right. the 787 dreamliner, air force one, the military tanker aircraft have all had issues. and boeing's starliner spaceship is set to carry its first crew to the space station next month, five years behind schedule. so there are challenges companywide, lester. >> tom costello, thank you. >>> more heavy snow tonight across parts of the plains and upper midwest, where as much as a foot more of snow could fal

you have the chief executive, dave calhoun, i going on.- executive, dave calhoun, whose to step down at the end of this year. his department as part of this broader management shake—up and you also have stern deal, the head of the division that makes the plane for commercial customers, he will retire immediately and is going to be replaced by stephanie pope. meanwhile you've got the company also announcing its chairman will not stand for election to the board. why is this all happening? because boeing is grappling with its most significant safety crisis in years. it's a crisis that has left its customers frustrated. last week a group of us airline ceos sought meetings with boeing directors to express their concern over what has been going on, starting recently with that alaska airlines incident. that was when a door plug fell out. it is an unusual sign, you don't typically see that frustration with the manufacturer and i think this was an attempt by management to try and restore faith. i was an attempt by management to try and restore fait

calhoun was supposed to do that, but he didn't.s that fundamentally it's still the money that's driving it. the person that has to come in, therefore, has to be somebody who has a different perspective from the boeing old guard, you might call them, and has the capability to make the change through engaging the employees, engaging the stakeholders outside, such as investors and regulators. but i think putting another long serving boeing person in the position isn't going to cut it. the owner of some of the uk's most popular theme parks is introducing what it calls "dynamic pricing". merlin entertainments — which owns attractions including alton towers and legoland — will use tech, including ai, to adjust prices according to factors such as weather and demand, allowing them to charge more, say, on a sunny day or public holiday. investment analyst russ mould told the bbc that the company is trying to maximise returns after the tough covid period — but customers could also benefit. merlin has got private equity owners, so there is pro

and then, them taking the actions that they've taken >> boeing's dave calhoun says he's stepping downs ceo. good monday morning, welcome to "squawk on the street. i'm carl quintanilla with jim cramer david faber has the morning off. premarkets red on this final q1 and plenty of activity for a holiday-shortened week and at least three firms eyeing higher year-end s&p targets our road map begins with boeing, dave calhoun stepping down at year-end the eu launching a probe into big tech, going after meta, apple and alphabet >>> the dow and the s&p posting their best weeks of the year let's begin, though, with the shake-up at boeing in the wake of that company's safety crisis. jim, we heard calhoun with phil, and you said, as predicted >> i just spoke to david i think this is something that kind of had to be done not forced, necessarily, but the idea that they have to pick someone new. david's going to stay until the end of the year. it's a long-cycle business, that makes sense. but you get someone new in there, maybe you get a little heat i think that the faa is charging -- every single m

in a letter to workers, mr calhoun said...ty and complete transparency. " his successor will need both qualities if they are to pilot the aerospace giant back in to less turbulent skies. theo leggett, bbc news. the cost of the gas and electricity we use at home could be determined by what time of day we use the most energy, that's according to the watchdog 0fgem. it says it's in early discussions about changing the way we're billed for energy, which could see lower rates offered to more flexible users in england, scotland and wales. 0ur cost of living correspondent, colletta smith, has more. this is a moment of course that the regulator is trying to work out how the way we use electricity has changed over the last couple of years, five years indeed since it has been introduced. that price cap is due to fall on 1st april. 29 million household also be affected. the way we use energy has changed during that time so the regulator are working out whether the price cap needs to change to reflect that. the first suggestion is to have

ceo dave calhoun steps down end of this year get to phil lebeau standing by with dave calhoun.his completely your decision? >> yeah. first of all 100%. why now? i've entered my fifth year end of this year i'll be close to 68 years old. i've always said to the board and the board has been very pre prepared i would give them plenty of notice so they could understand and plan succession in regular order that's what this is about. it's me giving them notice that end of this year i plan to retire and then, them taking the actions that they've taken i'm actually very proud of the way the board has handled everything very deliberate. the move with larry, in my view, very deliberate. the entry of steve as new chairman very deliberate all very qualified and great decisions. >> if you're going to be leaving, some will say, why not just leave now why wait until end of the year >> we have another mountain to climb. let's not avoid what happened with alaska air. let's not avoid the call for action let's not avoided changes we have to make in our factory. let's not avoid the need to slow dow

calhoun is one of three top execs departing the company. boeing's board chair and head of commercial airplanes are also leaving. >>> up next, california grape growers are struggling, why they're facing increased competition both here at home and from abroad. >> a lot of the old timers around here that have been around for generations have never seen it this bad. >>> 25 years ago california imposed a new tax on tobacco products, how that launched a transformational >>> california grows more than $5 billion worth of grapes each year, 5 billion. now up to 50,000 acres of vineyards are being completely torn out. why some grape growers are choosing to rip up the crops. >> reporter: this vineyard has been in business more than 130 years growing grapes in lodi for wineries across the region. garrett schaffer says some of his family's vines are over a century old. >> they're like little kids. you prune them and manicure them, take care of them, water them, feed them. >> reporter: but now he's tearing out 30% of his vineyards because of declining de

the end of the year, calhoun continuing to lead boeing through year end, of course, we have been talkingbout all of the mishaps happening at boeing the board now making a change, ceo to step down, florida senator marco rubio warning of potential isis threat at the southern border following deadly attack by terrorist union in moscow, watch this. >> i think we should be very concerned as fbi director confirmed to me that there is a there is a trafficking network out there that specializes moving people for profit moving people migrants around the world including across our southern border have links to isis i think common sense tells you if they run a trafficking in issuing of people most certainly use it to move operatives into the united states i am saying that situation excessiveness of the network is a threat if they can do what they did in moscow they would do it to us in a heartbeat. >> is almost a ing state sees all sides targets issis-kattacking russians chinese iranians americans joining me wisconsin senator ron johnson rankingmen of on investigations, thanks so much for joining m

he mentioned in viewers will remember calhoun took over in 2020 after the deadly 737 max crashes. he was brought in to sort of right the ship while he's at the helm, the company is dealing with additional safety concerns and a big pr problem started when the door plug flew off the alaska airlines flight earlier this year and since then boeing has been under the microscope facing scrutiny from the faa, ntsb and justice department investigating facing scrutiny from the general public so the company is going to have to win back public trust in the trust of its frustrated customers, the airlines. the ceo called the shakeup quote much-needed management changes. to that, in a letter to employees he says the eyes of the world are on us and i know will come through other complete and remain focused on completing the work we've done to return our company to stability after the extraordinary challenges of the past five years with safety and quality at the forefront of everything we do. as far as timing of his departure as you noted, he will stay on until the end of the year, the "wall stree

. >> aishah: a major shakeup at beauing and dave calhoun stepping down after facing several lawsuits investigations into quality control and the safety of its planes. dan springer is live in seattle so, dan, why is this announcement coming out today? reporter: well, aishah, if you believe dave calhoun, it's because he told the boeing board of break torrs this morning he wanted to retire from the company by the end of this year and says he was not forced out but this was his decision but a lot of people saying that's probably not the case and it's been in the works for awhile. calhoun under intense pressure since early january and he was forced to answer questions at congress and he repeatedly took responsibility for a series of quality issues and the big one of course was january 5 when a door plug blew off a 737 max 9 and going for california and thankfully nobody was hurt and the scare triggered investigations by the national transportation safety board. the federal aviation administration and the justice department and ntsb said four critical bolts were missing and boeing has no r

in the meantime, there is the breaking news we got word that the ceo of boeing, dave calhoun, says he is going to step down by the end of the year in a letter to employees calhoun called the alaska airlines door plug incident, a quote, watershed moment for both he said he intends to leave by the end of the year so too will the company's chairman and the head of the commercial aviation units. let's get ready to seen as pete muntean, who's got all the latest here, pete, what have you learned? well, the irony here is that dave calhoun came into power after the max eight incidents of 2,018.20, 19 that killed 346 people abroad. now he is leaving as a result of another incident on the max line, the january 5 alaska airlines door plug blowout, the ntsb found in its polling seminary report that boeing forgot to reinsert the four critical bolts at the renton washington factory, something that calhoun himself described as a quality escape. the irony here is very significant. >> again, also >> the surprise that calhoun is not leaving immediately and did not leave any earlier after he made this p

dave calhoun came into power. now he is leaving as the result of another incident on the maxilla in this feels like a complete decapitation of the top layer of management at boeing p, i guess one question is, dave calhoun says he intends to step down by the end of the year it's still march that leaves a lot of months here between the end of the year. can he even last that long >> that's a great question. and you know, i think workers at the boeing plant in renton, washington to the cell under the microscope, not only by the top brass of billing, but also by the faa and the ntsb will have that question to they have had the pressure put on them with a day-long safety stand downs there at boeing. a lot of criticism about the type of work that they do on the line. and there's been a lot of question about whether or not there was proper documentation for this door-plug work that took place at the boeing factory, some work needed to be done near the door-plug. they removed the door plug and then it was clearly not prope

dave calhoun says though he is leaving in on --'s terms. >> i will be close to 60 years old.e board has been very prepared i would give them plenty of notice so that they could understand that -- the plant succession in regular order. and that's what this is ab about. >> dave calhoun was dragged in front of congress to answer questions. has taken full responsibility for the quality issues and has said the company has to do better but dave calhoun the not come from a plain engineering background. is a financial guy coming from general electric and then blackstone group before that. he was elevated to ceo after the boeing group of directors in 2020 after 2 fatal crashes of max 8 claims called 2046 people and caused boeing in $2 billion in payouts victims and the government finds. he was on the board ten years before that. know a replacement for calhoun had not been named yet but we know that stephanie pope will replace larry kellner at the head of the commercial pain division and steve mullen coupled take over as a board chairman but, you know, charles is in the second major ma

calhoun is retiring, but not until the end of the year. him continuing to lead this turn around effort? >> you know, thanks for having me i think the band-aid has been ripped off the announcement yesterday was the beginning of how investors are seeing boeing transitioning. in reality, it is an orderly and stable transition. i think dave will be 67 in april. he was only going to go to 70. 18 months was the most realistic time t timeline for him this was announced a little bit earlier with the january insu incident this gives him time to get boeing back to the 737 production line back to stable >> does this give you confidence going forward over the fact he is retiring and the board is searching for a new ceo? >> for sure. boeing is a large holding in our portfolio. we have been long-term boeing shareholders we like the secular and structural tailwinds in the commercial aerospace industry. >> you are a former pilot as well we will lean on your expect te expectations in a moment let's go to nancy. huge news related to the max with the january

calhoun accepted to leave office on one's own.these incidents calmly and transparently. we must also demonstrate a complete commitment to safety and quality at all levels of the company. everyone's eyes are on us and i'm confident that we can become a better company based on the lessons we 've learned from working together to transform boeing in recent years. it is still unknown who will take his place. at the same time , the corporation has already announced that he will become the new chairman of the board of directors. molen kopf, former ceo of qualcom. he helped making the company a global leader in smartphone mobile technologies. stephanie pope will now be responsible for boeing's civil aircraft. she worked for the company for almost 30 years and on january 1 of this year was appointed chief operating officer and executive vice president of boeing. if personnel changes actually lead to the selection of talented engineers, to the search for technical solutions that would help restore trust. boeing aircraft, then the company's

the ceo dave calhoun be stepping down at the end of the year.atrina nicholas leads asia transport coverage. given the size and the scope of the issues facing boeing, do you think that this shakeup was inevitable? katrina: i think boeing's customers finale got what they have been after for quite some months now, is leadership shakeup at the lien maker. we are hearing that this was after the ceo of boeings three largest customers, united airlines and others, first boeing directors last week for a meeting where they could air their concerns with the ceo dave calhoun present, and that is according to people familiar with the campaign. pretty chilling that their largest customers wanted to meet with at top man of the job there. these leadership changes were formalized over the weekend. but really, these things have been in the works and been discussed hiding the scenes for months after this catastrophic incident on the alaska airlines jet in early january that really pushed boeing into a trash crisis that has been ongoing. the directors wanted the ov

boeing, a headline story, and the issues with dave calhoun deciding to step down, seems to be somethinghat may take a long time to execute with capacity across the sector industrials are sliding by itv is weaker today. construction is drifting we have given up a fraction with healthcare and financials. to the upside, real estate is a slight arrow to the upside the retail basket of stocks we have been talking about with atos and h&m it is up .10%. autos with porsche moving into the green. stellantis and renault are early move movers interesting yesterday with the moves across the board stateside, that the banks were resilient. not suffering in weakness. the sector was still positive. we are seeing that reflected this morning let's look at the index level. the ftse is weaker and we have slipped be low the 7,900 territory. stocks in france snapping a losing streak. nowputting on .10% the dax is also leaning positive not much strength, but tracking all-time highs and we remain in that territory this morning. ibex from spain is positive. same, too, for the swiss market. >>> atos has withdraw

this extends well beyond dave calhoun and the company. greenberg on the street and a cnbc contributor. always good to see you. your view is that dave calhoun, will be leaving, this is not really his mess, is it? it predated him, well, the seeds were planted before he came in. >> what a mess. you can say this goes back at least 20 years. probably more than that. remember, you had a revolving door of ceos for 20 years here. during that time, it was actually a cleanup from five over there when the company acquired mcdonnell douglas. at some point, if you go back and you look, about 2005 hen james mcneary came in, he was the former ceo of -- people love the company during that point of time. you can also see, there is a chart that i actually put up. you can actually see the amount of money they started just throwing the shareholders, trying to create shareholder return so they could pave the way as opposed to the money they put back into the business. you can see during the time, the stock went up, shareholders were happy. but what happened?

calhoun was brought in to right the ship. lot of the flying public, larry, feels he has not done that. larry? larry: steve medical len could have is coming in, former head of qualcomm, ceo, head of the board. very smart guy. grady trimble, thank you very much for the report. folks more on the democrat's lawfare against former president trump and other matters. we welcome the great john ratcliffe, former director of national intelligence during the trump administration. john, it is not a new subject. you know after today's news, i still can't figure out why new york state in order to exercise your constitutional right of appeal, you have to put up a bond, any bond, whatever, or cash. but the question for you is, how do you read this biden lawfare attack on trump? i mean some of this, myself included, think it has completely backfired no matter what these juvenile delinquent local judges say, what do you think? >> well, larry, if you heard president trump's comments coming out of the courthouse today, one of the things that he

you catch up >> that's dave calhoun this morning. who will replace dave calhoun when the new ceo is named? that's up to steve mollen cop and the new board of directors one other note, scott. boeing and spirit eaerosystems, they are moving closer to getting a deal done. scott, back to you >> appreciate that, phil lebeau. thank you very much. we're just getting started on "closing bell. up next, reddit surging, popping about 20% today, following its big market debut this week what might this signal about the health of the ipo market we'll discuss that with lo toney. we are live from the new york stock exchange and you're watching "closing bell" on cnbc. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you ca

chief executive officer david calhoun will leave his post at the end of this year.orporation at the beginning of 2020. even earlier, in may , chairman of the board of directors larry kelner would leave the company, and stendil, the president and general director of the division that produces civil aircraft, would immediately vacate his chair without even waiting for shareholder meetings. boeing employees received a letter on monday on behalf of david calhoun, it says the alaska airlines flight 1282 incident was a turning point. the american publication cnbc reports that calhoun made the decision to leave his post on his own. "we must continue to work through these incidents calmly and transparently, and we must demonstrate our full commitment to safety and quality at all levels of the company. all eyes are on us and i am confident that we can become a better company given the experience we have learned from working together on boeing's transformation in recent years. it is still unknown who will take his place, while the corporation has already said that the new cha

next, a boeing bounce, shares of the aerospace giant rising 4% after announcing that dave calhoun will leave the company by the end of the year will new leadership get the company back on track? massive move for micron as it blocks the seventh day of gains and bitcoin breaks higher and takes the rest of the crypto space with it and reddit, we'll dive into the pits i'm melissa lee coming to you from the nasdaq. on the desk, tim seymour, dan nathan and guy adami we start with disney's proxy battle royale. just a week away, nelson peltz trying to find management to secure seats on disney's board just today it said it was withholding its vote from bob iger, a move that contrasts the recommendations and peltz's public statement and since he reignited his proxy battle for the kingdom in october, shares soared nearly 44%. barclays raising the price target to $135 that's on shares is up 3% to the highest close since august 2022. it is now nearly a dollar above the average analyst price target on the street. barclays, is right does disney shares go higher from here? tim, what do you think share

. >>> ceo david calhoun said this was his decision to step down. months of intensifying scrutiny over boeing manufacturing practices after a door panel flew off mid-flielt back in january. phil lebeau is at a boeing facility at renton, washington. you spoke one-on-one with dave calhoun, what did he say. >> reporter: it's the right time. look the pressure has been building not just on dave calhoun but the board of directors to make some concrete changes to put in steps that they can show their customers, show the regulators we understand the significance of the moment, we're putting in a reset if you will, so that will include a new ceo at the end of this year or maybe before that if they find the right candidate, but david calhoun is retiring at the end of this year. a new chairman of the board in charge of the ceo. stephanie pope moves up from the coo position and she's going to be in focus, because it's the commercial airplane division at the heart of the problems at boeing right now, and this morning when i talked to dave calhoun, we talked abou

>>> plus, calhoun questions. boeing's board of directors planning a listening tour with major clients in the wake of several recent plane malfunctions, but the ceo can't on the guest list. what it says about his future with the company. >>> and a big night of earnings that could offer some insight into the state of the consumer, trade, and the economy, from ed exto lulu. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, guy adami, mike khouw, and julie biel. the dow getting just 111 points away from crossing 40,000. but one longtime tech bellwether not coming along for the ride. shapes of apple dropping more than 4% after the department of justice announced a new anti-trust lawsuit against the tech titan, saying that the iphone maker has a monopoly over the phone market, and that it harms consumers, developers, and rival companies. let's get straight to eamon javers who has the details. eamon? >> the justice department, along with 16 state attorneys general sued

in a letter to the employees calhoun said.uarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of past 5 years with safety and quality at forefront of everything that we do. you may remember, calhoun took over as ceo of boeing in 2020 after another safety blunder at the company, deadly the 7 fle 37 ma maxes. >> steve -- former head of qualcomm coming in find a new ceo grady trimble thank you for that report. >> more on the democrat lawfare against president trump and other matters, welcome to great john ratcliffe. former director of national intelligence during trump administration. not a new subject after today's news, i still can't figure out why in new york state to exercise your constitutional right of appeal you have to put up a bond, any bond. whatever or cash. but, the question for you is how do you read this biden lawfare attack on president trump. some of us myself included think it is backfiring no matter what juvenile local judges say. >> i

remember dave calhoun became boeing ceo after the 2737 max crashes of 2,018.20, 193.46 people killed nobody died in the january 5, alaska let's get airlines door plug blowout, but it exposed a huge quality control issue at boeing. calhoun said this in his message to employees, quote, as you all know, the alaska airlines flight 12, 82 accident was a watershed moment for boeing. we must continue to respond to this accident with humility and complete transparency there is some surprise in the aviation community that calhoun is not leaving immediately. his resignation takes hold at the end of the year, but calhoun notes, there are these investigations taking place, not only the ntsb investigation that found boeing workers did not re-install the door plug bolts of the factory and renton washington, but also the faa audit of boeing quality control and a department of justice investigation to see if passengers on that flight may have been victims of a crime. the timing is telling and just last week, a boeing reported a financial loss, a huge financial loss in the first quarter boeing has lo

i'll be close to 68 years old. >> calhoun's announcement coming after a string of scares in the sky. multiple involving boeing 737 max planes back in january, a door plug flew off the plane, terrifying passengers on an alaska airlines flight. and in 2018 and 2019, before calhoun was ceo, two deadly crashes off the coast of indonesia and in ethiopia left more than 300 people dead. there have not done anything to repair the problems, improve morale, change the culture. these incidents, plus others close calls, have prompted the federal aviation administration and congress to scrutinize the flying industry. the faa even paused boeing's expansion of its 737 max planes, and found that the company had quality control issues. >> this should be able to be brought under control. i'm hoping the carriers have the backstop of excellent maintenance programs to provide the comfort of the public. >> wall street is also keeping an eye on the embattled company, while boeing's new chairman, stephen mollenkopf, will spearhead the search for calhoun's replacement. >> management is the single most import

calhoun by the end of the year.stan deal, retiring, and interestingly here, chris, the airlines, of course, are the customers for boeing. airline ceos went to boeing's board last week, and said we would like to meet with you but not with calhoun. that was a huge statement of a loss of credibility and really confidence in calhoun, and with that, he's now set his departure for the end of the year, chris. >> tom costello, thank you. >>> overseas, the prince and princess of wales are thanking the public for all the support they have received since catherine's video message, revealing she has been diagnosed with cancer and is undergoing preventative chemotherapy. meagan fitzgerald is live outside buckingham palace. what are we hearing about them and also about king charles' battle with cancer. >> reporter: i'll start with the prince and princess of wales. they have been receiving this outpouring of support across the united kingdom and around the world which is in stark contrast from what we have been seeing the last sev

calhoun telling cnbc this was completely his decision.ve entered my fifth year. at the end of this year, i'll be close to 68 years old. >> reporter: it comes amidst increased scrutiny over boeing's production, after an investigation found that alaska airlines door plug blew out because four key bolts were missing. and an f.a.a. audit, obtained by "the new york times," finding boeing failed 33 of 89 product audits. calhoun vowing to see the company through crucial changes. >> we are at the early stages of responding to, in my view, an overexercised supply chain and an overexercised boeing factory. and we're going to calm it down. we're going to get ahead of all issues that the f.a.a., and way more importantly, that our own people bring to our attention, and we'll get ahead of it. >> reporter: david this is a major company in america. boeing has made more than half of all planes operated by the major u.s. airlines. david? >> david: gio benitez on this again tonight. thank you, gio. >>> we are learning more about a horrific tragedy at a pool

there is some surprise in the aviation community that calhoun is not leaving immediately.he nation takes hold at the end of the year, but calhoun notes there are these investigations taking place, not only the ntsb investigation that found boeing workers did not re-install the door plug bolts at the factory and renton washington, but also the faa audit of boeing quality control and a department of justice investigation to see if passengers on that flight may have been victims of a crime. but timing is telling here and just last week, boeing reported a huge financial loss in the first quarter, the boeing has also lost the confidence of some of its major customers, alaska airlines, once compensation from boeing, united says it's new plane orders are now in limbo. the saying and corporate america is the buck stops at the top. but in this case, really the money is talking to here. >> and people have been clamoring for this kind of a shakeup and it's now happening. all right. pete muntean. thank you very much. more breaking news coming into cnn right now united nations security

in a letter to workers, mr david calhounl workers, mr david calhoun said...l need both qualities if they are to pilot the aerospace giant back into less turbulence guys stop theo leggett, bbc news. you can find more on this story including the latest news and analysis on the bbc news website. now to the annual boao forum. trade and innovation are high on the agenda and various high—profile business leaders are included. our brute business leaderjoins us now. talk us through it. the business leaderjoins us now. talk us through it.— talk us through it. the boao forum is _ talk us through it. the boao forum is sometimes - talk us through it. the boao i forum is sometimes dubbed talk us through it. the boao i forum is sometimes dubbed as asia's davos. and effort for chinese leaders to try and court things like foreign investment and even chinese businesses to try and expand and this year it is more important than ever because china is facing a big slowdown. it obviously has that property crisis, youth unemployment is very high as well so politicians want foreign

calhoun did not come from a plane engineering background.uy coming from general electric and black stone group before that. now it's important to note that calhoun has said it was his decision, he decided to retire at the age of 68. a lot of pressure on him and boeing leadership to make changes after all those quality issues and we'll see what happens next and who will take his place. >> bill: thank you, dan springer, the update from seattle, washington. stock was up a couple dollars and now up a buck 22 in trading. what are you cooking up? >> dana: before we go new york city police spotting something strange in the neighborhood. nypd posted this video of the ghost busters famous car driving around new york city. the department wrote we called in some backup for the sunday scares. taking it out for a joy ride. >> bill: hang with us all day. i'll be back at 1:00 and dana will be back at five. >> dana: and the ohtani press conference. a lot going on this monday. harris faulkner will take you to the next hour. "the faulkner focus" is next. >> h

the departure of dave calhoun is after nearly five years in a row. calhoun and boeing are working to make changes in the series of safety incidents. recently a door plug flew out of a side of a 737 max jet. in january the problem led to multiple groundings and more than $31 billion in losses. >>> ahead, streaming on cbs bay area, horrifying moments in northern california. two brothers attacked by a mountain lion. what authorities are saying. >>> why bay area singles are ditching dating apps and turning to an old school method to find love. >> a live look outside before break. a beautiful shot of the city on this monday. we'll be right back. you're looking at some real jack in the box haters. yeah, they exist. they have no idea they're about to try my new smashed jack. this is good. it's very fresh. i like the sauce. i'm a saucy woman. probably not the best. not the best... she came in a white sedan. tow it. almost like a flavor bomb. i don't think it's a fast food hamburger. this is more like homemade. -it's me! -ahahaha! oh shoot, jack! if this is y

calhoun will be joined by several boeing top brass in stepping down. >>> home sales jumped in february, according to the latest data, up 9.5%. this, despite higher mortgage rates. the red hot market inspires more people to put their homes on the markets. house prices are up nationwide as well. more than 5% higher than this time last year. we'll get data on new home sales this morning. now, oftentimes you see the slowdown with mortgage rates because people who would buy a new home aren't going to give up 2% to 3%. this is going to be a problem for decades, because we're not going back to 2% mortgages, or there would be a horrible disaster if we did, a pandemic, a global financial crisis, something like that. so this will be around for decades. >> and it will be interesting, too, when people re-fi, and they only did an eight or ten year, when those come up again, it really could change. >> they may have to sell their houses. >> exactly. >>> well, in the run-up to opening day for baseball, the a's and giants tonight play the first of two bay bridge series games. this one is at the coliseu

jonathan: if the latest now, dave calhoun saying he will step down at the end of the year.ys after major airline ceos turned up the pressure, demanding answers after a number of in-flight incidents. for more, i'm pleased to say we are joined by bob crandall the former american airlines d.l. and chairman. bob, you are a legend in the industry and we got a lot to talk about. i want to start with this issue first and foremost, owing. your experience, and what you think changed in the last decade or so. >> i wish i knew the answer to that, and i suspect dave calhoun wishes he knew the answer as well. during the time that i dealt with boeing, they were a very reliable supply. they built a great airplanes and they did a great job servicing those airplanes, and in every case where we had any kind of a disagreement or a problem, they stepped up and were very responsive. my experience with boeing has been that it is a great company and of course everybody in america is worried about what happened. the people that are running the airlines these days, the ceos and major carriers are g

. >> boeing ceo dave calhoun says he will be stepping down in the months ahead.ouncement comes after a series of safety issues involving multiple boeing 737 max planes. back in january, a door plug flew off of a flight on an alaska airlines plane. and in 2018 and 2019, before calhoun was ceo, two deadly crashes in indonesia and ethiopia left more than 300 people dead. why now, i've entered my fifth year. he end of this year, i'll be close to 68 years old. calhoun says he will continue to lead boeing until the end of this year to help set the company up for the future. >> boeing's new chairman, steven mollenkopf, will spearhead the search for calhoun's replacement, the u.s. and uk are going after a chinese based hacking group today. >> the two countries filed charges and imposed sanctions on the group called apt 31, and accused beijing of a large scale cyber espionage campaign. officials from both nations say the group has targeted millions of people, including lawmakers, academics, journalists and companies, including defense contractors. the us and uk are callin