dave calhoun faced _ boeing. again, i am sorry. dave calhoun faced a _ boeing. again, i am sorry.boeing. again, lam sorry. dave calhoun faced a tough grilling on capitol hill from senators who cast the once great drying of engineering and beacon of american industry as a shell of its former self. richard blumenthal called boeing's safety lapse as a matter of life and death with profound consequences for the economy and travelling public. safety issues, production shortcuts and a lack of transparency has beenin and a lack of transparency has been in focus since a door panel blew out of a boeing jet midflight injanuary and as regulators reports and whistleblowing testimony pointed to wrongdoing on the epee makers part. also on tuesday, a new whistleblower alleged that boeing used nonconforming parts and light to regulators about it.- to regulators about it. behind ou ou to regulators about it. behind you you cannot _ to regulators about it. behind you you cannot see _ to regulators about it. behind you you cannot see out - to regulators about it. behind you you cannot see out but i

boeing's outgoing ceo, dave calhoun, responded to questions about boeing's path forward after a string of safety failures, production problems, and whistle—blower accounts. our north america business correspondent erin delmore has all the details. tuesday's hearing, dave calhoun was confronted by senators with boeing safety failures and confronted by families with the loss of life those safety failures caused. when two boeing jets crashed five years ago killing 346 people. he spoke directly to those who lost loved ones. you make i apologise for the grief that we have caused and i want you to know we are totally committed to their memory and know we are totally committed to their memor- to their memory and focus on safety for _ to their memory and focus on safety for as _ to their memory and focus on safety for as long, _ to their memory and focus on safety for as long, as - to their memory and focus on safety for as long, as long . to their memory and focus on safety for as long, as long as| safety for as long, as long as we are — safety for as long, as long as we are employed by boein

phil. >> a long afternoon, frank, for dave calhoun on capitol hill. he knows it.im of where boeing is in terms of the safety culture and where the company is with improving the quality controls. he issued the prepared remarks. we got those yesterday. already, he is laying the ground work for saying we can do better. when it comes to the culture, dave calhoun will say we heard the concerns loud and clear. we are taking action and making progress. we understand the gravity and we are committed to moving forward with transparency and accountability while elevating employee engagement. what is going on at boeing right now? quality controls will be in focus this afternoon. remember, the company submitted what you would call a new safety plan to the faa which outlines the steps that are being taken to improve quality controls to ensure all of the proper steps are being taken so that all aircraft are 100% where they should be when they roll off the assembly line. that also includes boeing having more faa inspectors. they have been added at the plant. the faa is limiting

alice, this is the situation where dave calhoun, the outgoing dave calhoun, stating the culture needso change. >> reporter: arabile, there are very serious concerns about boeing's safety. you laid several of them out. expect a bgrilling when the ceo testifies today which is a clue. you can see how senators are going into this hearing today. ceo david calhoun will testify before congress for the first time since that door plug blowout in january that you noted that was on a boeing plane on the alaska airlines flight. very fortunately no one was injured. the department of justice opened an investigation after that happened to try to look for exactly what happened and if there was potentially any criminal liability inn developed. the incident led to the boeing's commitment to safety. here on capitol hill, there have been hearings with whistleblowers who talked about manufacturing shortcuts and retaliation with bringing up concerns. boeing disputes those allegations. calhoun took over the company in 2020 after two boeing 737 max 8 jets crashed killing nearly 350 people. he said he will st

this was dave calhoun about 45 minutes ago.e briefly stopped and talked with us in the hallway on capitol hill. said he is here to answer the questions truthfully and honestly and in full transparency. and when he just walked into this room, as you would expect, as we saw when dennis muilenburg, the former boeing ceo was here for the 737 max hearings back in 2019, there are families of the victims from the 737 crashes who are in attendance with placards showing the faces of some of the victims. dave calhoun walked in. now i'm in a booth up above the hearing. i can't tell exactly what he said but i'm pretty sure he acknowledged them and said i'm deeply, deeply sorry. he said a few more things and then he sat down. there you see some of those placards. those are relatives of some of the victims from the 737 crashes, the two that really are at the very beginning of everything that we've seen boeing go through over the last six years. there's dave calhoun waiting for the hearing to begin. we expect it to last two to two and a half

a fantastic exchange with dave calhoun.d news? wells fargo saying that the economy is slowing gradually enough that economic surprises may trigger only consolidation, election and geopolitical disappointments could trigger larger pullbacks. we are joined by christian. it is great to catch up with you. is bad news just bad news? could you define this friday when we get payrolls what bad news looks like? >> jon, we have been cautious for some time driven by the fact the fed raised rates so precipitously. although the long, variable lags might be a little more long and variable this time, we have thought for some time the economy will slow. the tricky part is there will be some hoping for rate cuts to come back to the forefront. those folks will want a worse number. the tricky part for us is that we are more fundamentally driven. if you get a worse number, at some point you have to deal with a slowdown. jonathan: 125 at bank of america is bad news apparently? stuart kaiser of citi will be catching up later this week. what is b

boeing's outgoing ceo, dave calhoun, responded to questions about boeing's path forward after a stringn delmore has all the details. during tuesday's hearing, dave calhoun was confronted by senators with boeing safety failures and confronted by families with the loss of life those safety failures caused when two boeing jets crashed five years ago killing 346 people. he spoke directly to those who lost loved ones. i apologise for the grief that we have caused and i want you to know we are totally committed to their memory

boeing's outgoing ceo, dave calhoun, responded to questions about boeing's path forward after a string of safety failures, production problems, and whistle—blower accounts. our north america business correspondent erin delmore has all the details. during tuesday's hearing, dave calhoun was confronted by senators with boeing safety failures and confronted by families with the loss of life those safety failures caused when two boeing jets crashed five years ago killing 346 people. he spoke directly to those who lost loved ones. i apologise for the grief that we have caused and i want you to know we are totally committed to their memory and focus on safety for as long — as long as we are employed by boeing. again, i am sorry. mr calhoun faced a tough grilling from senators who cast the one to great giant of engineering and beacon of american industry as a shell of its former self. subcommittee chair richard blumenthal called boeing safety�*s lapse is a matter of life and death with profound consequences for the economy and travelling public. safety issues, production short cuts and a lack

boeing ceo dave calhoun faces the heat on capitol hill.world's most valuable publicly traded company, with a market value of $3.34 trillion. hello and welcome to business today. i'm arunoday mukharji. a moment of reckoning for boeing as an iconic american manufacturer comes under tense questioning from members of a us senate subcommittee. boeing's outgoing ceo, dave calhoun, responded to questions about boeing's path forward after a string of safety failures, production problems, and whistle—blower accounts. our north america business correspondent erin delmore has all the details. tuesday's hearing, dave calhoun was confronted by senators with boeing safety failures and confronted by families with the loss of life those safety failures caused. when two boeing jets crashed five years ago killing 346 people. he spoke directly to those who lost loved ones. you make i apologise for the grief that we have caused and i want you to know we

dave calhoun on capitol hill. we'll dive into what they could ask and the alarming new whistleblower report that suggests a bigger problem after a quick break tomorrow cnn celebrate juneteenth, with special performances by john legend, eddie lewbel, smokey robinson. >> we still have a lot of work to do. >> juneteenth celebrating freedom and legacy tomorrow at ten on cnn three body serie a city client uses city's financial expertise to help drive its growth and keep its supply chain moving so more pet parents can get everything they need, right when they need it keeping more pets and families happy for the love of moving our clients forward, for the love of progress so what's the codes as 547? >> well, that's all working. >> that's really needs to pay. >> we're gonna get into what's known present with her son you are a valued customer, sensitive. >> we can go in the window meanwhile, at a vrbo when other vacation rentals leave you hanging, try one where you can reach a human in about a minute. what the biggest comp

hillary, i was just listening to senator josh hawley of missouri ream dave calhoun. tough, liz , and they really aren't holding anything back. particularly with this new wave of whistleblower allegations that came out just before boeing ceo dave calhoun came to capitol hill to testify today. these whistleblower allegations are from current boeing employee s testifying to lawmakers that boeing safety culture isn't just broken. in some ways, they say, its been engineered to deceive. the current boeing employee, sam mohawk, who works at boeing's renton facility where the 737-max is made gave these details to law icers alleging that boeing is improperly documenting, tracking and stor ing parts that are damaged or otherwise out of specification and that those parts are likely being installed on airplanes. there's another whistleblower who told the committee that boeing has tried to eliminate quality inspections instead relying on workers building the planes to inspect their own work and co-workers work. chairman richard blumenthal says they have heard from a dozen whistle

we do begin with boeing or any minute now, its chief executive, dave calhoun, is going to be speaking before a senate subcommittee that is investigating the troubled company. >> his prepared statements shows that calhoun we'll seemingly understate the problems plaguing the aerospace giant. as quote, far from perfect. this comes as there are more stunning allegations for him to respond to a new whistleblower from boeing's quality control unit says the company tried to hide questionable parts that likely ended up on its airplanes cnn's piedmont ten is live force outside the hearing room. so what more can we expect to hear from boeing ceo the chair of the senate subcommittee as senator richard blumenthal just walked in here we are moments away from gambling into this hearing. and he said to me that this is a moment of reckoning for boeing that boeing must change its culture because there have been failings after failings at boeing, not only back to the 737 max nine door plug blowout back on january 5, but also going back to the max eight crashes of 2018 and 2019, critic after critic in t

there was also some very heated exchanges between senators and dave calhoun. and i want you to listen to this one from josh hawley of missouri they've alleged that when they raised quality issues and concerns, they were reassigned, they were retaliated against. they were physically threatened that doesn't sound like attention to quality to me and yet, you're getting paid $33 million a year senator, i i we have increased our quality inspectors significantly. you got a huge raise, a huge increase. so it's working out great for you for the american people. they're in danger for your workers? they're in parallel for your whistleblowers. they literally fear for their lives, but you're getting compensated like never before, don't you think maybe your priorities are misplaced here? i mean, don't you think maybe it's time to get back to focusing on making quality planes and paying your workers well, and taking care of the little guys who got you to where you are? that's not a rhetorical question senator i don't recognize any of the boeing you described now. >> holly p

one would be who's going to replace dave calhoun.onths. it could be late this year before they finally make a decision on the next ceo. at the same time you're waiting to see when they finish this deal in terms of acquiring spirit aerosystems and want to see what happens with the doj which is looking at the deferred prosecution agreement and deciding do we file further criminal charges, extend the dpa, do we increase the oversight on boeing. a lot of unnoeps that are there and that's why people look at shares of boeing right now and say, regardless of what happens today, guys, you will likely see little movement with shares of boeing until we see one of these unknowns get resolved, with whenever that may be, over the next several months. >> phil, you mentioned the doj and the succession element, the journal tries to tackle both. the latter part about how difficult it's been to get someone to sign on for the job outside and inside. >> right. look if you read that article you would sit there and say, what's new here. not a whole lot is

ceo dave calhoun is expected to answer questions about whistleblower allegations and quality controlapses at boeing. this morning, the ceo of boeing is preparing to testify before a senate committee. in his opening remarks, ceo dave calhoun will tell the committee boeing's culture is far from perfect, but we are taking action and making progress. questions about quality control escalated in january, when a door panel on this alaska air flight blew off mid-flight, leaving a gaping hole in the 737 max jet. then in april, a boeing engineer told the senate that the 737 max, the 787 dreamliner and the 777 models had serious production issues. >> i was ignored, i was told not to create, not to create delays. i was told, frankly, to shut up. >> calhoun will push back at the whistleblower's claims today, saying we are committed to making sure every employee feels empowered to speak up if there is a problem breaking overnight. a second whistleblower has come forward. a boeing engineer claims the company is cutting corners, losing track of parts labeled as not up to design standards. he claims

and of course, dave calhoun was very much criticized over the company's safety policies.there anything new we learn from it? were there any new revelations that came out from the hearing? >> there were not any real new revelations and it was not really the kind of forum where you would expect this. this was a lot about the performance, one-sided kind of trading off against the other. obviously, calhoun was very much at the receiving end of the criticism. he got some real roasters. we heard from sandra blumenthal -- senator blumenthal, who led the session. he started by saying you have not done shareholders any service, you have not done your employees any service. a lot of it was sort of really getting the last couple of years -- re-litigating the last couple of years, what went down. calhoun at one point got up and faced to the two crashes that involved boeing aircraft. that was a moment he tried to set the tone that way by showing contrition, showing he is remorseful. but it was a very difficult session for him. he stumbled here and there, he did not fall. but overall,

we didn't expect much from dave calhoun. he didn't say much, but that he is here in the spirit of honestly and transparency and will answer all the questions by the senate committee. that hearing starts in 45 minutes. other than that, he said nothing else and walked into the waiting room. back to you. >> a big day for dave calhoun. a moment of reckoning according to senator richard blumenthal. thank you, phil. dave calhoun testifying for the first time since that january 5th door blowout. >>> let's get back to nvidia, because that's probably one of the hardest trades -- i mean, from a disciplined standpoint, kevin, would you say you would want to pair back on nvidia at this point? are you concerned about a digestion period in terms of the ai spin, are you concerned about slowing growth rates for nvidia? anything about the nvidia story that worries you given you the trajectory? >> clearly it's overvalued from a price perspective, but there's no stopping nvidia. they're not satisfied here, and they continue to deploy their own

there's some news for you. >> that was boeing ceo dave calhoun and missouri senator josh hawley in a tense exchange over the plane's safety culture. the ceo getting grilled today in a senate committee over boeing's handling of incidents. calhoun kicking off his testimony by apologizing directly to the families of whistle blowers and 737 max crash victims. he stood up from his chair, turned around and faced the families. for more, let's bring in sheila. >> thank you for having me. >> that was surprising how he answered that. should he have answered that way? >> i don't know. senator hawley came in pretty hot. i would not want to be questioned by him, if anyone, but i think the reason he hasn't stepped down yet is, we are having trouble finding a new ceo. that seat is still open, and nobody seems to be wanting the job. >> yeah. it's a thorny issue, it's a thorny problem that boeing is in the midst of, including potentially prosecution, and you write in your note that you just put out after -- after today's hearing, that prosecution is quote unquote uncertain, quoting senator richard blu

most of the questions that centered around the fact that he keeps saying, dave calhoun keeps saying,e are making changes. we are going to hold ourselves accountable. and senators are continually coming back and saying, you keep talking about this, but what are you really doing? and then there was this exchange between missouri senator josh hawley and dave calhoun, take a listen. >> but meanwhile, you're getting paid a heck of a lot of money. it's unbelievable. if anybody is coming out of this deal good, it's you. why haven't you resigned? >> senator, i'm sticking this through. i'm proud of having taken the job. i'm proud of our -- >> proud of this record? >> i'm proud of our safety record? >> you're proud of this safety record? >> i am proud of every action we have taken. >> every action you've taken. >> yes, sir. >> wow. wow. there's some news for you. >> that's just a taste of what dave calhoun has faced this afternoon over last hour and a half. we think this goes for about another 45 minutes. back to you. >> appreciate that update. phil lebeau down in d.c. on the hill for us. s&p

. >> dave calhoun is on capitol hill. but after a string of safety incidents and an alarming new way so blow report. is there anything you can say to persuade americans that boeing has a handle on its safety issues and just a brutal de from coast to coast. fires in the west and an unrelenting heat wave in the east. and ominous outlook with some are still two days away. we are following these major developing stories anymore, all coming in, right here to cnn news central we're, following major developments from the white house this afternoon, president biden central unveil this sweeping new executive action that would amine mediately protect hundreds of thousands of undocumented immigrants from being deported. >> it provides legal protection for about half 1 million spouses of current us citizens. and roughly 50,000 children. >> this is an action aimed to appeal to hispanic voters in key battleground states it's, and it comes at a critical moment in the 2024 race. next week, biden and trump will of course, be facing off in

is there anything that dave calhoun can say to help restore trust in boeing?on't think there is anything he can do at this point to restore trust. it will be a very long process. he can express once more and there will be a performative aspect to today plasma hearing. senators want to express their angen senators want to express their anger, they want to be seen to be doing so because boeing is a champion of us industry and they are angry it has come to this. ., ., ., , this. how it -- how has it impacted _ this. how it -- how has it impacted boeing's - this. how it -- how has it - impacted boeing's business? 737 is a cash impacted boeing's business? 7757 is a cash cow in the us regulator has said it actually the number of 737 is that boeing is allowed to build until its controls are better so that is actually restricting boeing's ability to earn money so over the last five years boeing has lost $32 billion, thatis boeing has lost $32 billion, that is more than any other company on the snp. earlier this year. — company on the snp. earlier this year, there _ co

boeing has yet to choose a new ceo after boss dave calhoun announced that he's stepping down at the end iata willie walsh. it's not for me to say who should be running boeing, but i think an understanding of what went wrong in the past, and that's very important. our industry benefits from learning from mistakes and sharing that learning with everybody. so an acknowledgement of what went wrong. looking at best practice. looking at what others do. making sure that the culture exists. that's where these issues become apparent and aware to some, become apparent and where to everyone. and i think that that is a critical issue, that we have a culture within the industry which hasn't had safety, where people are feel secure in putting their hand up and saying things aren't working the way they should do. the iata also said its members are not planning to make passengers keep seat belts on at all times during a flight. the death of a british man on a recent singapore airlines flight, which was hit by severe turbulence, has highlighted the wearing of seat belts. initial investigations found tha

this coming is billing ceo dave calhoun is scheduled to testify on capitol hill today. the countdown is on for bite dance -- dance to layout its reasons for suing the government over the new law requiring it to sell tiktok. bytedance must file legal briefs by thursday. and of its main arguments will be that congress never provided public proof of a national security threat to justify a ban. and hong kong will allow training during typhoons. the decades-long practice of shutting its markets during storms will end on september 23. it was seen as increasingly antiquated after the pandemic showed markets could function with most workers stuck at home. hong kong it's five to eight typhoons eats year. cash each year. lisa: up next, the data-dependent market. >> i think it is less what the fed speakers say. i think it will come down to the data. if the market sees healthy data it will become more relaxed. lisa: that is next. what is healthy data? you are watching bloomberg. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds.

deal with the inflection openai and avoid government anti-trust reviews. >>> outgoing boeing ceo dave calhounet to face lawmakers later this month when he is set to testify on june 18th. calhoun is set to face questions about whistleblower safety allegations and quality controls of boeing aircraft. in it a statement, boeing saying it welcomes the opportunity to go before the panel and share the steps the company has taken and continue to take to improve safety and quality. >>> amazon's self-driving zoox's unit is set to resume the street testing of vehicles. it will deploy the toyota highlanders with the human safety drives in miami and austin, texas. announcement comes as the company faces a federal probe of 500 vehicles automated system facing two crashes, frank. >>> thank you, silvana. coming up on the show, we will have the one word investors need to know and the big issue with lululemon flying in the face of the bears out there. >>> the u.s. is firing a shot in the fight with china to maintain global tech dominance. eunice yoon will be with us. >>> and what the stock split could mean for

c, e o dave calhoun was giving testimony as hearings in the us sent us the accidents involving 2737, max, a plains killed. 346 people in 201819 that were caused by problems with the flight control. soft way, i think the families of victims who were killed into playing crushes involving boeing 737 max jets, got the on capital hill. they are cooling for justice for boeing, ceo david calhoun, to take responsibility for what they say well known problems with across to that were in service. my being here is so that calhoun can see my father's face and the see the cost of his decisions. i mean, if we all here living in this nightmare that doesn't seem to end of what has now become our lives, why should the people who made decisions continue to not face the people that they let down? all i could think is the 6 minutes and 4 seconds. oh, my daughter on the boeing 37 months. it's a great for me. it's you know, that will be. there's lots of rough. it's called your fans. so go home, bowling ceo, management. did you hear my daughter cry to the hearing began by calhoun, addressing the family memb

outgoing boeing ceo dave calhoun is the one who will be in the senate committee hotseat. >> he along with boeing's chief engineer, will insist that boeing does not retaliate against employees. >> the latest development is that the chair of this committee, richard blumenthal, will bring up the claims of these dozen boeing whistleblowers and this new one, sam mohak was a quality adjourned inspector for boeing in its renton washington plant. the same plant that built the door plug in the plane involved in the door plug incident, the ntsb found after that incident that the critical bolts that held the door plug in place or not installed there and the plane left the factory without them. now, blumenthal says that mohawks and whistleblowers says that boeing is losing track of parts that don't conform to its standards. it's a big allegation and speaking to cnn blumenthal called mohawks owls accusations extraordinarily serious. listen there's mounting evidence that boeing should be prosecuted and i'm going to withhold judgment until we finish this hearing. and the investigation, the addresse

jack: meanwhile dave calhoun will be hussy testifying at the point.pace businesses small portion of the defense side of the business obviously once you going be quaint. an faa administrator mike whitaker from the chief regulator was in front of congress and thursday and dave mr. calhoun's way to be there on tuesday and so going to be about quality of the plan things in the progress that they are being made and including the culture and improving the processes that so it is more of the same sort of set going start down about 30 processes that door blew off and fight in january so that's what to look for with point. jack: before we go, the only four-point early orders more place about the basic shape is not the concern. al: it wasn't averse can be anything from this figure showing july that will be fun we'll get together monday night each of the big announcements about, back legs are so big the gotta make them. jack: okay i'll think you and this week interest rates remain inflated and rick reader and how investors can play the higher for longer environm

i do understand that the ceo, dave calhoun, will be appearing very soon before the united states senate i am disappointed it wohave a responsibility as the committee of jurisdiction for civil aviation to conduct oversight on these matters. will hear very soon from boeing's senior leadership. boeing is a great american company. it is critically important for a nation that boeing remains strong and continue producing have caused serious questions in the flying public about the safety of the planes. and it is critical for boeing, critical for the faa and this committee that those safety lapses be corrected and corrected promptly. >> did you want to make will forgo that but i consider this one of the most portant hearings. this is a very important one. and please you are conducting it. >> thank you. administrator whit and please proceed with your statement. committee members and good morning and thank you for the opportunity to be here today to discuss the agoversight of boeing's production and manufacturing processes and i will express my appreciation in passing this reauthorization act of

during your us senate hearing dave calhoun said the aircraft and i get took responsibility for a faulty software system. crashes in indonesia. and if your po killed 346 people in 201829 degrees, thousands of heart testers have rallied outside the is riley problem in, in jerusalem for 2nd day. cooling for a new government and the resignation of prime minister benjamin netanyahu. they also demanded that the government step off, if it's to gain the release of hostages held in gaza. blistering hate the top to $48.00 degrees celsius, caused the death of hundreds of worship destroying the sea as hodge pro pilgrimage and saudi arabia. thousands more were affected by hate storm. nearly $2000000.00 muslims from $22.00 countries to pop in the pilgrimage this year, which ended with the ritual assembling, accomplish, try and make a running. another pay surprised laureate in august mohammed b has been sentenced to a year in prison. authorities accuse her of publishing propaganda against the states. the active list has been in jail since 2021, for protesting against the obligatory head job for women.

pria, thank you. >> thanks. >>> when we come back, boeing ceo dave calhoun is going to be testifyingdown more than 30% year-to-date. is this a buying opportunity? we'll talk to an analyst about that, next. >>> and at 8:40 a.m. eastern time, senator elizabeth warren will join us. she wants some answers from the fed about conversations with jpmorgan's ceo jamie dimon. "squawk box" is coming right pack. ♪♪ ♪♪ citi's industry leading global payments solutions help their clients move money around the world seamlessly in over 180 countries... and help a partner like the world food programme as they provide more than food to people in need. together, citi and the world food programme empower families across the globe. ♪♪ ♪ ♪ ♪ ♪ empower families across the globe. ♪ ♪ ♪ ♪ are you interested in safeguarding your investments with gold? alamos gold is a growing canadian gold producer with a long track record of outperformance. alamos gold. invest with us. our growth sets us apart. >>> there is mounting evidence that not only should deferred prosecution be pursued, but the company should come cl

>> dave calhoun probably knew, as most everybody did, he was not going to score a win today. was about the tone and tenor, and how he characterized the overall situation. he began with an act of contrition. he turned his back to the committee and faced several family members of those who lost their lives in those two 737 max crashes. he turned around and told the committee boeing is doing better. >> much has been said about boeing's culture. we heard this concerns loud and clear. our culture is far from perfect. but we are taking action and we are making progress. we understand the gravity and we are committed to moving forward with transparency and accountability. >> he spoke broadly about boeing doing better. he said the company is -- safety in the workforce, revamping its engineering. and most important, repeated it several times, the company is set to require spirit aerosystems, now a subsidiary but was once part of boeing, which builds this -- 737 fuselages. none of it did much to resonate with the committee. it did not do much for those families who were in the gallery

i do understand that the dave calhoun, will be very soon before the united states senate.i am disappointed it won't be before this committee. we hajurisdiction for civil aviation to conduct oversight on these matters. i do trust we will hear very eing's leadership. boeing is a great american company.7ically important for remains strong and excellent aircraft. these safety lapses serious questions in the flying anes. and it is critical for boeing, critical for the faa and critical for this committee that those safety lapses be corrected and corrected promptly. >> did you want to make a statement? one of the most important hearings. this is a very imconducting it. >> thank you. administrator whitaker, thank you for joining us and please proceed with your statement. >> thank you chair and d thank you for the opportunity to be here today to discuss the agency's oversight of boeing's production and manufacturing processes and i will express my appreciation in passing this reauthorization act of 2024 and it will begin implementation of this important legislation and we will kee

dave calhoun grilled at the senate hearing. he apologized to families of victims.light to alaska. >> why haven't you resigned? >> senator, i am sticking this through. i am proud of having taken the job and proud of our safety record. >> would you agree there has to be more accountability? >> senator, i am doing everything in my power. if i agreed then i would have done something more. >> bill: richard blumenthal the democrat presiding over yesterday's hearings. good morning to you. he did something that mark zuckerberg did several months ago. stood up and said he was sorry to the families who were there. >> i would like to apologize on behalf of all of our boeing associates spread throughout the country, past and present, for your losses. i apologize for the grief it caused and -- [inaudible] we are focused on safety. >> bill: sir, i know you were critical, too. what's the problem with boeing? >> the problem with boeing is that a once iconic company that was essentially an engineering manufacturer put profits over safety and quality, emphasizing the next earning ca

plus dave calhoun the embattled ceo of boeing is facing more questions on capitol hill this week.ation analyst former faa safety team men's bert kyle is here to tell us what we might expect. ♪ liberty mutual customized my car insurance and i saved hundreds. with all the money i saved i thought i'd buy stilts. hi honey. ahhh...ooh. look, no line at the hot dog stand. yes! only pay for what you need. ♪liberty, liberty, liberty, liberty.♪ your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. it really works. there are many ways to do things. at old dominion freight line, we do them this way. this way has people who start early. people who care and inspire each other to do things the way they should be done. this way uses technology (♪) and goes the extra mile (♪) to deliver your promises on-time, every time. this way is why we're the number one national ltl carrier for quality. for u

this comes one day after dave calhoun-based public grilling by u.s. half of all banking jobs are likely to be displaced by ai, according to research from citi , saying 12% of roles could be augmented by the technology, adding that ai may not lead to a drop in headcount as the need to hire more compliance officers and ai managers grows. lisa: evan, are you being replaced by ai? evan: hopefully not. unless you will have nai person talking -- ai people talking to you, i think they will still need me to interpret what is going on while the machines are under control. lisa: under repair. evan brown, thank you, under surveillance, setting the debate stage. >> it is really populism without any anchor to principles. i'm a big believer that you would like your party pledging fidelity to a set of principles and policies versus a person, and i don't think a personality type politics is durable. lisa: that is coming up next. this is bloomberg. ♪ lisa: a little bit more than one hour -- two hours until the opening trade. we did get the bank of england rate decisio

nothing to me, he needs to be put in prison, that's him president and ceo of boeing corporation dave calhoun. refused to participate in such hearings, boeing was indifferent to the comments of the special commission, the process in the senate continued to resemble the uncertain answer of a student on an exam. you said that you had a dialogue with the whistleblowers, is that true, one on one? i did not have direct dialogue with any of the whistleblowers. but they are the ones who have repeatedly reported systematic problems in the corporation. former control engineer quality, john barnett committed suicide during litigation against boeing, unable to withstand pressure from the organization. and this is what you have to pay for. in may , only four aircraft were ordered from boeing, seven times more from its main competitor, for example, airbus. market capitalization is steadily falling, despite the fact that the total debt is about $58 billion. this means that a corporate culture in which profit occupies a much larger place than passenger safety is making itself felt. and the consequences, exp

record and he also came face-to-face with the families of passengers killed in to boeing crashes dave calhoun endured a grilling from republicans and democrats alike at a senate subcommittee hearing tuesday in 110 exchange, republican senator josh hawley questioned calhoun about allegations that boeing has cut corners, putting profit over safety and retaliating against whistleblowers we've had multiple whistleblowers come before this committee and alleged that boeing is cutting every possible corner on quality and safety, not just in the past, but now they've alleged that you've eliminated safety inspections, that there are fewer and quality there are fewer inspectors doing quality inspections out there. >> they've alleged that when they raised quality issues and concerns, they were reassigned, they were retaliated against. they were physically threatened that doesn't sound like attention to quality to me. and yet you're getting paid $33 million a year sorcery senator, i i we have increased our quality inspectors significantly will write it as the hearing began, calhoun turned around and apol

dave calhoun and gered, a grilling from republicans and democrats, like at a senate committee hearingsday, he was questioned about allegations that the company has cut corners, put profits over safety, and retaliated against whistleblowers. writer as the hearing began, calhoun turned around and apologize directly to the families of boeing 737 max victims the combined 346 people were killed in crashes in indonesia and ethiopia in 2018 and 2019. >> now before the hearing another boeing whistleblower came forward accusing the planemaker of hiding faulty parts from regulators our evasion correspondent, pittman team has more spirited transparency. >> tonight, the head of boeing says he is responsible for the company's repeat failures spanning years. it is the major admission from a relentless blasting by senators. the first public hearings since january's dramatic door plug blowout brought boeing quality control into question. >> this hearing is a moment of reckoning. >> you don't recognize the following that has airplanes falling out of the sky boeing ceo dave calhoun walked into a hearin

. >> boeing ceo dave calhoun in the hot seat, taking questions from congress about his company's safetyhat transpired during the hearing coming up. >> hey hey hey hey, willie. say hey. say woo! swing it at the place. say hey. >> remembering a larger than life baseball icon this morning, we are taking a look at ■the legendary career of willie mays. good morning everybody. it is wednesday, june 19th, and it's also juneteenth. so it is happy juneteenth and we're going to get a check on the weather. >> drew is back. >> yes good morning guys. happy to be back. and we're going to have a little cooler of an afternoon today compared to yesterday. it's also a breezy day once again. but that onshore flow will keep high relative humidity outside. this morning. let's go to our south beach camera. you can clearly see some cloud cover. it's not everywhere though. we do have a lot of clear conditions from concord to san jose to napa right now. but our typical spots like the coast, half moon bay is reporting pretty cloudy conditions this morning. temperatures right now we have some chilly valleys saint

reporter: families who lost loved ones in the two 737 max crashes had harsh words for boeing ceo dave calhoun hearing. >> i apologize -- >> reporter: calhoun started his remarks by facing those families and apologizing before taking responsibility for those crashes and the door panel that blew out of an alaska airlines flight earlier this year. >> our culture is far from perfect, but we are taking action, and we are making progress. >> reporter: missouri senator josh hawley did not mince words. >> how -- if safety is say -- is a component of your $33 million compensation package, i mean, how can you possibly qualify for any of this? >> the only way to course correct is to face the truth and confront the need for action. >> we are responsible. >> reporter: calhoun's testimony comes just hours after a new whistleblower complaint emerged alleging when boeing restarted production of the 737 max after those two deadly crashes, there was a 300% increase in reports about parts that did not meet proper manufacturing standards. and while those parts were supposed to be removed from production and clos