that is the position dennis muilenburg used to have. >> dennis muilenburg is out. david calhoun is in. for how long he will be in, we don't know yet. he is 62 years old, he is nearing the retirement age. is he the right person to lead them going forward? perhaps, he is being brought in d repairr the damage an the damage with customers. a lot of customers here in asia, they have tona, repair relations with suppliers, as you mentioned. dennis muilenburg repeated the mantra and part of that was driving a hard bargain with suppliers, driving down cost. dennis muilenburg had a laser focus on reducing cost, in cash, and return on equity,,. some say perhaps at the expense of safety. obviously,s 20/20 given the couple of crashes. in the long list of things that he must do in addition to repairing relations with the faa, customers, suppliers, and the flying public. haslinda: it is a long, long list. be david calhoun's first order of business? thet probably has to be regulators, the faa. we are getting word that a second batch of emails have also been turned over to the faa.

what did dennis muilenburg do wrong? he approached it from a very analytical engineering point of view. in a lot of ways, that did not speak to what people in d.c. wanted to hear. it did not speak to what families of the people on those two crashed air flights wanted to hear. i think a lot of this was seen as a technical issue. we will get the engineering right and move forward. really, people in d.c. were hoping to hear a bit more of a human oriented, compassionate message. this was not just a problem to go out and fix. there were real issues here with the airplane. guy: thanks very much indeed. bloomberg's george ferguson and justin backman joining us on the news we've had, that dennis muilenburg, ceo of boeing, is going to step aside, and dave calhoun will step into his shoes. let's get the bloomberg first word news with viviana hurtado. viviana: new documents show president donald trump asked about u.s. military aid to ukraine for his call with the country's president. the center for public integrity obtaining heavil

mark: dennis muilenburg is out is boeing ceo.aker remains in turmoil after last year's two deadly crashes involving a top-selling jetline. the 737 max has been grounded since march. boeing has temporarily halted its output. david calhoun role-plays mullen bert as ceo and president. formermer gea of -- the general electric executive has been serving as cfo since october. saudi arabia has found six people guilty in the murder of jamal khashoggi. five people be executed for the crime and another three will be imprisoned for 24 years. turkeys foreign ministry says the convictions are unsatisfactory because they do not reveal who ordered the killing. hong kong got back to business over weekend scuffles of police and protesters. --dreds of gathered just so to show support from the chinese majority. at one point, an officer drew his gun and pointed it at demonstrators. no shots were fired in the incident. vladimir putin inaugurated a massive railway bridge to crimea. he rode a commuter train for the opening of the 11.9 mile bridge. it i

we did see boeing's shares rise on the news that dennis muilenburg is on his way. from an investing point of view, does this mark a turning point? is this the time to get into boeing? >> i'm not sure of that. and i think your interview encapsulated so articulately the management issue for this board. put had success, as you it, or as the reporter put it, in the financial engineering, stock buybacks, the process. did they go too far? i do n't remember who asked that question in cost cutting? and did the cost-cutting result in the crash? that's still under investigation. and we saw some snippets about possible cost-cutting effects reaching the max. that remains to be seen. so, what do you do in a management case study like boeing? a cases will become study, i believe, for management courses in business schools. you replace the ceo. that is the job of the board. you bring in the most credible person you can, that you can obtain quickly. they've done that. as you just said. they brought in an experienced executive to replace him, and the experience included the interna

dennis muilenburg could be back in fleets by year end. this disconnect surprised a lot of people. that was the beginning of the end for dennis's career at boeing. kevin: in terms of the shareholder response and the washington response, how have people been reacting to the news? george: we have seen shares up. was about this act trying to keep any further slippage in the timeline, trying to keep the max in front of the faa and reviewed and cooperated and looking like you're cooperated with the faa. i do not think it accelerates anything. i want to follow up. what is interesting is this is a company that is known for its checklist. for pilots talking to engineers, we have a great story in bloomberg businessweek on this and how there was a breakdown. what needs to change. is it a big change within the boeing culture going back to where it used to be? george: boeing used to have a much more transparent culture. when dennis muilenburg took over enjoying the success of a lot of max sales and looking forward to years of rising production rates and better profitability. they took the eye o

under dennis muilenburg, boeing had been on a great run. this company becomes the biggest industrial giant in the united states, surpassing ge, under mullen berg. it's stock had tripled up until the beginning part of this year, when the problems -- the mechanical problems -- started to surface with the 737 max. the two crashes and more than 340 or the 346 -- associated aths associated with that. dennis muilenburg, his philosophy, his mantra, was compete to win. he really drove a hard bargain with suppliers around the world. he put, according to a number of analysts, a laser focus on costs. it is being called a retirement but let's not mince words. he has pre-much been ousted. the question now is did he put cash and cost savings at the expense of safety? that is the big question. david calhoun has the big task. he is a former ge veteran, the former ceo -- he is now the ceo and president taking over for mullen berg. taking over in mid-january. what is the first order of business? stephen: it is a long to-do list. first of all, you have to loo

jim cramer, if you missed the news about half an hour ago, dennis muilenburg of boeing is out. david calhoun is ceo and president effective january 13th muilenburg's exit effective immediately as the fallout from the 737 max continues. there is the opening bell. and the s&p 500 at the cnbc real time exchange and the big board, it is the new york chapter of the national children's chorus, might have heard them singing in the background as we were talking some boeing at the nasdaq the national women's hockey league. david, on monday morning, got started with a bang. >> yes, yes. we got some significant news and, again, as i think phil and jim and i had indicated, it is not a surprise the timing really was the only question many of us had in termsof when muilenburg would exit, not necessarily whether or not it would happen it has turned resignation, he was dismissed as phil said decision they reached last night, though one that they had certainly been moving towards for quite some time it would appear in part, the timing i'm told was due to the fact they feel as though muilenburg's

a remarkable morning boeing is the news of the day, dennis muilenburg is out at ceo.lebeau has more >> the decision reached to fire dennis muilenburg, replacing him will be the former chair, technically chair, will step out of chair, become president and ceo, david calhoun he becomes president and ceo effective january 13th what was the final straw that broke the camel's back in large part, the relationship between boeing and the faa which is completely broken down over the last several months. i learned from sources that this morning david calhoun called the head of the faa, steve dixon it was a short but amicable phone call in that call calhoun said to dixon boeing welcomes rigorous oversight. he also said boeing wants to be regulated. this is a big change in tone for boeing compared to where it was a few months ago but in terms of whether or not dennis muilenburg was not going to be in the job for long, it was expected for some time his tenure would be short. this is our conversation with him in the halls of capitol hill just a couple months ago >> have there been

the aircraft company's chief executive, dennis muilenburg,. has resigned. the board said it is necessary to resolve -- restore confidence in the firm. the company has struggled since two fatal crashes that killed 346 people. >> boeing has been mired in crisis since the loss of its seven aircraft. two crashes in indonesisia last yeyear and if you bid this year killed all passengers and crew on board. flight control software designed to stop the plane from stalling was a major factor in both disasters. after the second crash in march, the 737 max was grounded worldwide. 2019 has left the aviation giant facing massive costs. a raft of investigations, and potentially devastating losses. last week, boeing said it would temporarily suspend production of the 737 max. the federal aviation administration says recertification of the jets s wt extend into next year, suggesting there is still a long way to go. there has been keen focus on the company's crisis management and on the chief executive dennis muilenburg's leadership. he came under further scrutiny this month

ceo dennis muilenburgs out immediately. chan david calhoun will take over next month and investors reacted positively to that news sending shas higher 3%. phil lebeau has been following this. why now? >> reporter: bill, i thiwo there were things that had happened within the last month that the board of directors ounally said, . we have to make a change. the first one being thatbu denn muil was called to washington, d.c., and he was essentiallyressed down by the head of the faa. theead of the faa said you don't make demands. we call the shots as to when this plane is safe anddy r to return to the air. that was a very public meeting. maybe the meeelng i wasn't public but it was a dressing down. ceos rarely he that happen. the second thing happened four days later when dennis muilenburg said we are going to shut down the 737 max line at least for a couple of months, temporarily is the language that they used. th'sunprecedented. for a company of this size with this history tost for the f time ever voluntarily shut down a produc

stother big story we are following tonight, boeing has fired its c.e.o., dennis muilenburg.ee world's largest aerospace company has had its reputation nnd bottom line damaged by two m lihes that left 346 people dead. kris van cleave tonight on how the end came for muilenburg. >> reporter: boeing's board of directors made the call sunday night, asking for and receiving dennis muilenburg's immediate resignation. they called it "necessary to thweg caronfidence in the anmp" hiy.s ouster as boeing's probles stemming from the two fatal 737 7ax crashes piled up. the 55-year-old c.e.o. had been insisting for months he was staying on the job, like here in his exclusive interview with norah o'donnell. e> o'donnell: did you ever iensider resigning? >> no, it's important that i continue to lead the company and do my best to lead well and lead in a way that's consistent with our values. a> reporter: muilenburg had promised to get the max, o ounded since march, back in the air before the end of the year, but the f.a.a. said the plane was not yet ready to fly. boeing was forced to suspend

those shares higher today on word ceo dennis muilenburg is out effective immediately. our phil lebeau following that story and he joins us from chicago. no nobody's going to say they're surprised by the news itself some may be surprised by the timing there were expectations he may be in the job until the max was recertified. >> it's the deterioration of the relationship between boeing and the faa. that has happened over the last week and a half. go back to the meeting in washington between dennis muilenburg and steve dixon where he said you come in making no demands this is how it's going to happen and it's going to happen on our time frame it was a public dressing down of a ceo, and then they had to stop production of the 737 max. it's been a cascading effect over the last week and a half of bad news upon bad news for boeing, and the board finally said we've got to make a change here so the new ceo effective january 13th will be david calhoun who has been the executive chairman at boeing. he will transition into the role of president and ceo, and if you're looking at

boeing has announced that its chief executive dennis muilenburg is stepping down. muilenburg has faced serious criticism in the aftermath of two major accidents involving boeing's new 737 max planes in which a total of 346 people died. last week the company announced it was halting production of the aircraft. in a statement the company said a change of leadership was needed to restore confidence. our international business correspondent theo leggett gave us some background a little earlier. he presided over an era where boeing came out with its flagship aircraft which we now know contained a flaw, which never should have got past regulators, and it was allowed to continue flying after the first of those two catastrophic accidents involving a plane of indonesia. the plane was allowed to keep flying and another one crashed a few months later in ethiopia. he has come underfire for presiding over an era where the company put production rates and the pursuit of profits over its safety, according to people. it says safety is its number one priority, it always has done, b

one executive said,ee h not heard from dennis muilenburg in weeks.n indication that at a minimum he realizes the company has to change its public stance in how it deals with people when it comes 737 max 737 max to the. >> pl, thank you very much. ♪ judy: stay with us. coming up on "newshour," amy walter and temer keith analyze the week's political headlines. an investigation into how our mobile phones track our every move. more than one million children have fallen off public health insurae program sce december 2017. for some of those children, their parents may have ne jobs th cth coverage, but researchers say a troubling rise in uninsured children, and say the trump's administration is a big part of the problem. we have the report from tennessee. families who could qualifyor medicaid or getting knocked off the rolles because of red tape and errors. this story was produced in rtnership. with kaiser reporter: to make sense of his world. -- this morning his world is a mess. heather says her son's struggles intensified when he was cut from idmedican hi

the final humiliation for dennis muilenburg came last week when boeing suspended production of the 737 regulators still won't let the plane back in the air. it's not clear when it'll fly again. but when it does, one of the biggest challenges facing the new chief executive will be to persuade passengers that it really has been made as safe as it possibly can be. theo leggett, bbc news. our business correspondent, samira hussain, has more from new york. there is no question that in the ten months since these 737 jets have been grounded, this storied american company has suffered financial and reputational damage. it has lost the confidence of aviation regulators, both here in the united states and right around the world. it no longer makes its most profitable plane and won't do so for the foreseeable future. airlines have no clarity on when these jets will be operational again. it's already lost $9 billion in the wake of this crisis and that number continues to grow. and us lawmakers have accused boeing of putting profits over the safety of its passengers. now, boeing remains confident i

the final humiliation for dennis muilenburg came last week when boeing suspended production of the 737se regulators still won't let the plane back in the air. it's not clear when it'll fly again. but when it does, one of the biggest challenges facing the new chief executive will be to persuade passengers that it really has been made as safe as it possibly can be. theo leggett, bbc news. let's get some of the day's other news. new zealand police have called off the search for two people missing since the white island volcanic eruption. 47 people, mainly australian tourists, were on the island when it erupted on december 9th. 25 are still in hospital — many are in a critical condition. the death toll now stands at 19 — including the two who are missing. algeria has announced three days of mourning, for the death of the head of the army. ahmed gaid salah, who was 79, suffered a heart attack. he'd been leading the country, in effect, since the long—time president, abdelaziz bouteflika, was forced from office by a wave of mass protests earlier this year. ivory coast has issued an arrest war

dennis muilenburg is out and calhoun is in.orning. >> good morning. >> does putting david calhoun in the pilot's seat, in this case, if you will, restore faith new >> i think it's terrific he has all the credentials to pull it together he has the people skills to work with a very competent faa administrator dickson. dickson is not someone to be messing around with so to speak. he was an f-15 fighter pilot air force academy graduate vice president of flight operations for delta this man knows his airplanes and in particular knows the boeing he's flown both the airbus and just about every model boeing delta has. he's a great match he'll put them back on their feet he has the technical and management experience to put together the solution. >> that's a great american company. the board had no decision. they made a good choice. my question for you is larry kellner, david calhoun, are they going to be trusted by the pilots there seems to have been a pretty significant fracturing between the relationship throughout the world. >> i th

and immediately replacing him with board chairman david calhoun. >> the biggest issue for dennis muilenburg is the fact that boeing's relationship with the faa has broken down completely. >> reporter: muilenburg tried to pressure the faa into fast-tracking approval of the 737 max fixes after two fatal crashes killed 346 people but now, approval may not come until february or later, forcing boeing to temporarily shut down the max production line it was only in october that muilenburg met with the families of those who died. >> we are sorry, deeply and truly sorry. >> reporter: but anger only intensified over revelations boeing had not been fully trance parent about the plane's problems the world's airlines are demanding compensation michael stuma, whose door, stamya rose, died in the ethiopia crash, is demanding a change in the boeing culture. >> i can't help my daughter anymore, but we can try to make aviation safer for everyone else. >> reporter: boeing says it needs to repair damaged relationships with the airlines and the faa, and today the new boeing ceo reached out to the faa chief, pr

dennis muilenburg is gone.ble was he in dragging out the investigation or not knowing what was gone, for misleading shareholders and the public? surean: time will tell for on that question. for a lot ofocus investors has been that dennis muilenburg promised over and end to the max grounding was just around the corner. at the same time, he seems to have presided over significant deterioration in boeings relationship with the faa. from the perspective of getting the plane back in the air and getting production started back under dennis muilenburg seem to be becoming more distant. it will be the challenge for david calhoun, his successor, to make that happen. vonnie: what should calhoun do? there has been so much trust lost in boeing. shares are not suffering that much but it would seem like calhoun needs to do something drastic. brendan: as you say, a huge loss of trust in boeing, most of all by the flying public. i think for calhoun, the first job will be to reset the relationship with the faa. that will be cruc

what can you tell us >> reporter: you brought up is dennis muilenburg down in florida for this launch shows up at this press conference, people i've talked with have not said anything clearly they've got a lot of things on their plate with boeing dennis muilenburg is down there. i'll be interested to see if morgan is able to corral him when this press conference takes place if he is at this press conference let's shift back to max. we have new numbers showing how many max flights have been canceled by carriers here in the united states. the big number, 137,000. that's from march 13th when it was grounded all the way through the spring dates when the airlines are expecting to bring the max back on to their schedule just as' reminder, you have southwest and american who have moved it back to april restarts with their companies in other words, that's when they expect to fly it again we have not heard from united in terms of whether it is going to move back its date don't be surprised if that happens. a breakdown of the three airlines, here's how it goes in terms of the maxes that they ha

dennis muilenburg used to have chairman and ceo roles. david calhoun took that role. this is somebody who is very ingrained in corporate america. he has a ge background, which is interesting. boeing does tend to lean on ge. we have seen it before. the first time boeing has ousted , fired, or nudged out a ceo. in the past, they typically relied on ge people to right the ship. to stop the be bleeding. the 737 production is halted. that is going to send massive ripples through the supply chain all the way to customers and being able to navigate forward, to define when this plane might be able to fly again. navigate intog to the next year. anna: benedict, let us lean on you for your expertise in another sector. the car sector. bmw under pressure. the carmaker is being investigated by the sec. what is the story? what is it they are supposed to have done with numbers at the sec? >> they are scrutinizing sales practices at bmw. not the first time a european carmaker has come under scrutiny. fiat chrysler a similar experience. the question is, at what point is a car considere

samsung business solutions. >>> welcome back to the show new details on boeing ceo dennis muilenburg'sn, d.c. last week according to "the new york times" faa chief steven dixon told muilenburg, to, quote, not ask for any favors and that boeing should focus on providing all the documents needed to fully describe the 737 max software changes this was the first face to face encounter between the two men, and as our phil lebeau points out, the relationship will be a dynamic to watch for boeing in the coming year. ♪ >> next year boeing 737 max will have three critical moments. first, expect recertification early in 2020. the head of the faa, steve dixon, has said he won't approve the max until he flies it himself. and there are still a number of hurdles to clear before the max takes off. but most believe it will be recertified in the first couple of months of next year once that happens, expect airlines to make a big push to convince fliers the max is safe. southwest, american and united have parked their max planes for almost a year. they know passengers may hesitate or flat out refuse to

dennis muilenburg is out.nburg now replaced with david calhoun as boeing is trying to clean up its reputation. a nationwide suspension of its best selling planes, the 737 max. let's bring in phil labeau. let's start with this, if they want to clean up their reputation, why would they choose the chairman. a chairman sits above the ceo. is calhoun equally accountable? >> well, that's what some people are asking, should he be accountable as dennis muilenb g muilenburg. they reached this decision over the weekend and met via phone and had a decision they reached on sunday night. the question that becomes, who will we bring in as ceo. david calhoun has vast experience when it comes to running a conglomerate. and then he went onto neilson. this is somebody who's seasoned in terms of running a major corporation. not only that, i think they look at david calhoun and they say look, he's going to have a long time airline executive who's going to be the chairman and the president of the ceo, calhoun is going to come up a

i don't think so. >> you just kind of -- >> we have not heard from dennis muilenburg in a meaningful way since he was on capitol hill and they put out the guidance on november 11th. and that's it. now read into that what you will. >> what is your reaction as the investor at the table going to be >> i don't think they will fire him. they don't need that headache on top of everything. >> would you care if he was ceo over the long-term or not as an investor. >> i think he's botched this up pretty good for sure the chairman is supportive of him. i'm not sure it's a layup. they just need to get it in the air and you can deal with the ramifications. >> they will get on plane. if it's safe, they will get on the plane. >> that's fill lebeau in the house. nice to have you here for a change. >>> here is what's coming up on halftime report. >> johnson & johnson shares up 10% in the past three months morgan stanley think it's got room to run. our experts debate it and the health care space in call of the day. plus john nanhas unusual activiy latest trades based on movement in the sto mket ckarah

recertification get pushed out even more and some investors are beginning to ask why is ceo dennis muilenburg still in charge we will explore. >>> plus, will the china trade truce bring back ceo confidence and lead to more spending? the head of the conference board says the deal doesn't mean much to them but he will tell you what does. >>> and from electric cars to cigarettes to, at thats on medical devices there is a lot at stake for wall street and you in that latest spending bill we will dig into the fine print, a you will that and more over the next 60 or so minutes. let us begin with more new records for your money seema mody a lot of green on that screen. >> a better than expected read on manufacturing and we are in record high territory, the s&p poised to extend its winning sfreek to five days of gains, the dow currently up 82 points part of the reason we are higher is because oil is trading above $60 a barrel and therefore a number of energy producers are leading the s&p at this moment, devin energy, marathon all up about 1% to 3% one stock we're keeping a close eye on, fedex, not par

ceo dennis muilenburg pays the price for his repeated failings regarding the 737 max.nd what were we thinking? the social habits, the fashion faux pax, the must—have gadgets of the last decade, that we can finally say goodbye to. hello and welcome, i'm katty kay in washington and christian fraser is in london. there are very mixed reactions today, to news that 5 people have been sentenced to death in saudi arabia for the murder of journalist jamal khashoggi. amnesty international calls the sentences a whitewash, the human rights group criticised the process, because the trial was closed and there were no independent monitors. but mr khashoggi's son, salah, publicly disagreed, tweeting. .. fairness of the judiciary is based on two principles, fairness and speedy litigation, so there is neither injustice nor procrastination. salah still lives in saudi arabia and it's not clear what pressures he may or may not be under to support the government. the last public sighting of jamal khashoggi, seen here walking into the saudi consulate in istanbul in october last year. he nev

. >>> dennis muilenburg is leaving the company inning the wake of two accidents.wo accidents killed 346 people. they revealed a culture that discounted safety concerns and streets regulators as rubber stamps. muilenburg had been credited with tripling the stock price. but the tragedies in ethiopia and indonesia was too much to overcome. we have more. >> reporter: the company offered a series of disstmissteps. for the last nine months, muilenburg tried to get the plane back in the air. otherwise, they announced they were suspended action. that was a huge blow to suppliers and companies. that shifts the timeline for the 737's return throughout the year. the board was very concerned about the feedback it was getting from customers and regulato regulators, about poor communications two muilenburg himself. it boils down to lack of on trying to fix the problem with the 737 max. but the board decided it was on the right track with regulators and now was a good time to make that change. big picture here -- boeing is one of the largest exparters e. some made a production h

don't see running away from a challenge, resigning, as the right solution >> foempl boeing ceo dennis muilenburg deal book conference back in november. we now know muilenburg is out. chairman david calhoun will take over effective february 13th david gelles joins us. he wrote a story for "the new york times," at boeing, ceo stumbles deepen crisis and scott brenner. thanks for being with us today david, quite a piece it's such a riveting look at the various constituencies that muilenburg repeatedly disappointed i wonder, as you were reporting it over the weekend or before, if you knew that this event today was going to come? >> no, we didn't know it but, listen, you said it, just about every key stakeholder has been frustrated with dennis' performance. the faa, routinely felt like he was front running them, asking him to certify this plane before he was ready lawmakers felt like he was evasive in his congressional testimony. customers were deeply frustrated with gary keller, the ceo of southwest airlines, telling us that his performance had wreaked ask on the availability of the company to schedu

all of that was probably too much for dennis muilenburg., sort of boeing was liked inside of the company, an engineer from a humble background. he never got the tone right to respond to these tragedies, the twin crashes on the 737. on sunday, there was a board meeting and it was decided that enough is enough, we need a clean slate, we need somebody different to take the company forward. manus: in times of crisis, it certainly throws up -- i reflect back to tony hayward of bp, which is about the reaction functions to crisis, two very different crises but very real human stories. what is top of the agenda for the new ceo? stabilize, stabilize, stabilize. he has to stop the bleeding at boeing. this is a company that has kept producing the 737 but has not sold a single one. you see these airplanes piling up. we are talking about 400 unused airplanes sitting on the tarmac. that is about $50 billion sitting there. we don't know when it will come back. they have to repair relations with all the different stakeholders, with customers, two, the, reg

ceo dennis muilenburg is out. has named david calhoun as president and ceo effective january 13. it is the stuff of hollywood in treat. credit suisse is drawn deeper into spying scandals, placing the blame on the shoulders of its former coo. the daily fantasy sports company draft came's it is merging with a special-purpose acquisition company, allowing it to become public while forgoing the typical ipo process. shery: jon: [no audio] jon:shery: jon: we have seen res once again for the s&p 500 and nasdaq. toronto.ing out in the eight gained in nine sessions. optimism surrounding china, cutting tariffs on a wide range of goods. some optimistic fund flow information, the bank of america reading of where equity fund flows are going suggest that over the last week we have seen the highest level in three months time. another chart that highlights some of the optimism in the market. this is the american association of individual investors, which puts together a look at bullish versus bearish readings. is the most optimis

lauren: the exit package for dennis muilenburg who is no longer ceo, $39 million. the press release on the leadership changes, oftentimes, i mean, the stock tripled since muilenburg was ceo. there's not one word of praise for his leadership. this shows the board is truly trying to distance themselves from muilenburg the way he handled the 737 max crisis. two points on david calhoun, the incoming ceo. he's been on the board of directors since 2009 which means he was there for the decision to launch the 737 max, and not go with another plane. so will he be critiqued as well, perhaps. investors liking this move. the stock is up 2.7% today. david: what do you think about the stock? >> it's interesting. i think it's a long term value. there's not a lot of other companies in that space. like some of the other -- some of the same space, those who have monopoly seem to have a big advantage. david: next case, senator elizabeth warren taking more heat over the weekend for a bit of wine cave hypocrisy all over a similar fund-raiser she held back in 2018. we will get kayleigh

. ♪ jared >>> ceo dennis muilenburg is leaving boeing after trying to right the company in the wake ofashes. the 737 max accident killed 346 people that revealed a culture that discounted safety concerns and treated regulates as little more than rubber stamps. muilenburg had been there for 30 years. he had been credited with tripling the stock price. but the tragedies in ethiopia and indonesia were too much to overcome. christina alesi has more. >> reporter: muilenburg should have seen this coming. the company suffered a series of missteps since the boeing 737 max airplane was grounded. it was suspended production of the max, a blow to the company and its suppliers. now, one of my sources telling me, the board was concerned about the feedback it was getting from customers and regulators about poor communications from muilenburg himself. the bottom line, the board says it boils down to a lack of confidence in muellerburg's leadership. the board asked him to step down. some people on the board were concerned about removing the ceo in the middle of trying to fix the problem with the 737 m

ceo, --urke ousted as dennis muilenburg ousted as ceo.ng me now on the phone is an equity research analyst. he removed the stock from his buy list in may and now has no rating. i would think that changing the ceo, a shift in that direction would be a good thing. why the no rating now? >> first of all, our firm only has a buy rating or no rating. right now we think that the stock could just kind of trade sideways for a while as we see this play out. there are still so many unknowns. it was a good step to change the ceo. i think a lot of people when the news came yesterday said what took so long. in our view, it was a difficult calculation to be made by the board. as mullen berg came under increasing scrutiny over the ,ast month, so do we keep him someone deeply entrenched in the situation and understands it and is an engineer, or do we bring in someone else who does not understand the ins and outs of the situation but who would be a major improvement from apr and investor relations and crisis management standpoint. but as far as the stock,

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i want to point out dennis muilenburg will have quite a golden parachute. the payout expected for his severance is $39 million. jackie, connell. jackie: thanks for that, grady. connell: gary b. smith joins us from kadena group. also a fox news contributor. always good to see you. from an investment point of view, you do start wondering, after everything boeing has been through, now that the change finally has been made, maybe the stock bottomed. certainly, as friday did i said a pretty good day today. what do you think? >> i definitely think this is a buy. look, you have a, one of the, i don't even know if there is any other duopolies, boeing and airbus in any industry. this is a company that is a, did 100 billion in revenue last year. that's almost twice as much as airbus. >> right. >> they have 8,000 companies in their supply chain. if ever there was one of those too big to fail companies that, you just couldn't possibly see it fail. the government wouldn't let it, it's boeing. they have their hands in so many different areas, even beyond the whole 737 ai

the headlines: boeing has fired its chief executive, dennis muilenburg, following two fatal crashes involving the compa ny‘s 737 max aircraft. boeing has been struggling to deal with the impact of the crashes, blamed on its computer software. there's been criticism of the trial in saudi arabia of those accused of killing the journalist, jamal khashoggi. five people were sentenced to death, but a top aide to crown prince mohammed bin salman wasn't charged. the leader of the republicans in the us senate, mitch mcconnell, says he hasn't ruled out allowing witnesses to testify at president trump's impeachment trial. proceedings are expected to start next month. australia remains in the grip of hundreds of bushfires burning across several states. more than 9 million acres have been lost to the flames. despite this, the australian prime minister has doubled down on his defence of the coal industry. in less than 20 years, the number of smaller pubs has halved. this week, the government pledged more than a million pounds to community action groups, working to rescue or reopen their local pub. claire

joseph is covering boeing and the challenges still facing the company following the firing of dennis muilenburg. let's kick it off with bob at the exchange. >> it's kind of a flat day but we've had a tremendous move. the market advance has been tremendous this year more stocks advancing than declining and that's a big help to overall market sentiment. today we had retail, another good day a lot of the retailers are up. rite aid has been on fire. it's doubled in a week earnings were terrific about a week ago it was $8 a week ago, now it's $16. gold stocks, a little bit of move the last couple of days gold is about a six-week high. it hasn't been a huge performer, except in a few moments of uncertainty. some of the big names like harmony, gold fields, all up today. finally on uber we see travis callen nick resigning from the board of directors he wants to focus on new business uber one of the more disappointing ipos of the year. >> nasdaq is looking to close out the day with its tenth straight gain. >> scott, apple has been the core of the nasdaq record run this year and at a fresh all-time high

. >>> this just in to cnn, boeing's embattled ceo dennis muilenburg is stepping down.s a turbulent year for the aviation giant. let's go to cnn's claire sebastian. this just coming in. what do we know at this point? >> yeah, ryan, interesting timing for this coming two days before christmas but what we know is that the new ceo will be david calhoun. he is currently a director on the board, he's been there since 2009. there will be an interim ceo handling the transition, greg smith, the current cfo and dennis muilenburg who has been in the job, who has been the face of this company throughout the crisis with the 737 max which has been grounded since march, he will be out of the job. don't forget he was already stripped of his chairman's title back in october but this now the final decision. he will be stepping down. look, this is in the views of many people the biggest crisis that boeing has faced in its more than 100 year history. it took the decision to suspend the production of the 737 max from january, that is a huge decision that will ripple throughout the supply c

. >>2019 proved to be a challenging year for boeing ceo dennis muilenburg now the company's chief is out stepping down immediately. according to a press release by boeing quote a change in leadership was necessary to restore confidence in the company moving forward as it works to repair relationships with regulators customers and all other stakeholders boeing announced a the calhoun will take over in january the company has suffered several crucial and costly setbacks with their 7.37 max airplane 2 fatal crashes that killed 346 people cause bowing to ground the plane one on october 29th of 20 18 indonesia, the other in ethiopia on march 10th of this year we can and must do better. we've been challenged and changed by these accidents muilenburg testified before the senate back in october over the issues we've made mistakes and we got some things wrong. we're improving. and we're learning. and we're continuing to learn but things have not gotten better for the company earlier this year boeing suspended production of the 7.37 max this after spending months trying to get the plane recert

dennis muilenburg was abruptly fired as ceo just three days before christmas. the company is acknowledging this is a move to try to build confidence after the two deadly crashes involving the 737 max aircraft from boeing. tom costello covers aviation for us. he is joining on the phone. it seems as though this had been long anticipated but a bit of a surprise this morning. put this into context as far as what it means for boeing. >> that's absolutely right. this has been the open speculation for months now. as you know, dennis muilenburg was stripped of his chairmanship trial back in october and he was solely the ceo. but the situation at boeing just went from bad to worse. essentially, as you know, following the two fatal plane crashes overseas, 346 people died, and boeing was very slow to act on that. very slow to accept responsibility. for months they continued to continue with production. they continued to suggest airlines should fly the plane even after airline regulators around the world were grounding the plane, they insisted it was safe. and the faa and

reporter: the boeing stock performed well under the former ceo dennis muilenburg but his handling ofhe 737 max crisis that ended up doing him in. top of the new ceo will be getting grounded 737 max planes up into the air. the company halted the production until it works with the faa to get it recertified. they say under the previous ceo, it was too cozy getting the plane to market and family members say boeing should have done more to claim responsibility for the crashes. the company says, the new ceo, david calhoun will bring renewed commitment to transparency and better communication. boeing's stock as a result of the shakeup enjoying a bump today. it shaved 641 points off the dow since the second crash in march. a little bit on the new ceo, david calhoun. he will start in january. he has been on the board of directors for boeing since 2009. he currently serves an executive at private equity firm blackstone. he worked for 26 years at general electric, specifically in the aircraft engines and transportation sectors. so he certainly knows quite a bit about this industry. jackie. jack

remember, the ceo, dennis muilenburg, said that they were hoping that by the beginning of ng20 they could start ship out more of their 737 maxes, that they would get the regulatory approval. it turns out that isg a little bit longer. they say they understand that safety is the number-one one concern, but at the moment in their factories, they are sitting on 400 planes. what they want to do is stop production for now. this is a business decision, until they can ensdee that the veries are out. laura: boeing is america's largest manufacturing exporter. what could this mean for the u.s. economy? nada: it is exactly that, laura. everyone is saying wll this mean to those parts suppliers. boeing saythey will not lay off any workers the factories at the moment. they said they will safeguard against that. but obviously for many of those suppliers who make parts for the 737 max, the big question ve will boeing o start buying that stop -- wi boeing have to stop buying their parts until they resume production, will they continue their orders until they figure it o themselves. it is still unclear how

as for dennis muilenburg's exit package, we're sitting for sec filings on that. reportedly eligible for a 39 million-dollar payout including $6 million in cash and stock and bonds. connell. connell: good for 80 points or so today on the dow, thank you, grady. kaltbaum capital management president gary kaltbaum joins us now and let's talk about boeing for a second and then we'll broaden this out a little bit, gary. i said finally fired, before i went to grady, people could see it coming but took egg boeing aa long time to act. we know he was fired and replaced. how do you think this played out? >> the reason he did for a while, the man did a marvelous job before the crashes happened but total mishandling of the last few months. eight weeks ago they said they would expect to fly by december or january. that was way off. they overpromised and underdeliverred. i think a matter of time, the fact that the stock is doing poorly, nothing is getting done. the change had to happen. better days ahead but i keep hearing, march, april, may, june now for airlines. i'm not so s

. >>> boeing is under new leadership this morning after ceo dennis muilenburg was forced out in a management shakeup. the world's largest aerospace company has struggled since the two deadly crashes of its best-selling jet. >> reporter: boeing's directors made a call calling it, quote, necessary in order to restore confidence in the company. there were mounting calls for his osster as boeing's problem stemming from the two 737 max crashes piled up. the 55-year-old ceo had been insisting for months he had been staying on his job like here with his exclusive interview with norah o'donnell. >> did you ever consider resigning? >> no. it's important that i continue to lead the company and do my best to lead well and lead in a way that's consistent with our values. >> reporter: muilenburg had promised to get the max, grounded since march, back in the air, but the faa said the plane was not yet ready to fly. boeing was forced to suspend production of the max, a major setback to the company, which was an added blow to the grounding and the 6 million suppliers in the u.s. muilenburg was under pressur

reporter: the final humiliation for dennis muilenburg came lastk hen boeing suspended production of the 737 max because regulators still wo't let the plane back in the air. it is not clear when it will fly again. but when it does, one of the biggest challenges facing the new chief executive will be to persuade passengers that it sareally has been made as as it possibly can be. nada the big shakeup at boeing. returning to iraq, there are growing signs that the islamic state group is reorganizing itself two years after losing its territory there. kurdish and western intelligenca official told the bbc that i.s. presence in iraq is a sophisticated insurgency. militants are moving freely and raising funds and carrying out attacks. one official went as far as to say they are like al qn steroids. the bbci's orla guas this report. orla: from the hilltop in northern iraq, a sweeping vi of tertory reclaimed from the islamic ate. the kurdish peshmerga, who helped to drive them out, tell us now they are making a comeback. the militants are exploding an area of no man's land, disputed terrain betwee