mr. muilenburg. >> the mcas originally is designed to operate outside the normal envelope and then that low-speed envelope that you have referred to again that is something that was tested and certified with the faa early 2016. you said you are accountable mr. muilenburg. what does that mean are you working for free until you cure this problem cracks their relatives are not coming back. they are gone. is anybody taking a cutter working for free to rectify this problem like the japanese would do? >> congressman is not about the money. >> are you giving up any money quick. >> congressman my board will conduct a comprehensive review. >> you are continuing to work to make $30 million a year after this horrific two accidents that caused all these people's relatives to disappear and to die you are not taking a cut in pay at all quick. >> again the board. >> see you are not accountable the board is accountable. >> your time is expired. >> mr. muilenburg did you fly on a 737 max prior to these disasters quic

mr. muilenburg, mr. hamilton, alaska airlines, my state's airline, a very good airline, certainly critically important to my state. i know it is to the ranking members state as well, they fly almost all 737 boeings we alaskans travel a lot i had many constituents in the aftermath of these max crashes that have asked me are the 737s that we're flying on all the time in alaska to and from seattle and other places, are they safe? can you -- can both of you assure my constituents that these 737s are safe that are such an important component of the alaska air travel? >> senator, the 737 ng fleet that alaska operates is a safe fleet. it's a safe airplane it's got about 200 million hours of air safety track record behind it. >> mr. hamilton? >> i agree with mr. muilenburg's comments i also want to state we have a weekly meeting we review all reports coming in from the fleet on whether or not they are potential safety issue or not. >> so the max issues that we're focused on here with regard to 737s are not issue

mr. muilenburg's comments. i agree with mr. muilenburg's comments. i also want to state that we have a weekly meeting that we review all the reports coming in from the fleet as to whether or not they are potential safety issue or not. >> so, the max issues that we're focused on here with regard to 737s are not issues that exist with your other line of 737s, 80 0z, 900s? >> no. >> that's correct. >> let me ask -- i know the house side was looking at this, as we focus, as this committee is, on the tragic lessons learned from the max 737 accidents, should we also take the time to ensure that the other 737 models that are receiving less attention now are nevertheless, continue to be safe and to take the opportunity to look at the faa certification process on those to make sure that that is not bedevilled with some of the challenges we're discussing with regard to the max? would you agree that's an opportunity to not just focus on the max but the overall process to reboot the focus, both at your company and also in the faa on safety? >> senator, i believe

mr. muilenburg answer on the record his opinion of the current oda system, whether it should be modified. answer senator tester's question senator johnson? >> let me add my condolences to the surviving family members and friends of the victims of these tragedies. mr. muilenburg, among many failures, there are two primary failures first and foremost in the design and certification process, secondly in the reaction after the first crash. tell me if i'm getting this right. the 737, very successful air frame. new more fuel efficient engines were available so you wanted to include that in an upbraid of that air frame, correct? >> new fuel efficient engines and other enhancements >> those fuel efficient engines created a different aerodynamic system, is that correct? >> that's correct. >> the m-cass system, is it standard to have something like that >> senator, the mcass system on the max is unique to that plane. >> it was put in there because you added a different type of engine to a successful air frame which made that less stable and required a -- as you called it, a runway stabilizing syste

mr. muilenburg. if the timekeeper could start >> thank you very much to the family members.tor blumen that will. >> as i watched -- >> we've been listening to testimony and q&a at the senate with boeing c.e.o. dennis muilenburg. the senate commerce committee leading it today. muilenburg will be back before the house transportation and infrastructure panel tomorrow. of course, you saw some of the victims' families of the two air crashes that killed 346 people in total. the boeing 737 max jet crashed in the last year. let's bring in bloomberg's chief washington correspondent now, kevin cirilli, who's live on capitol hill. what do congresspeople expect to get out of dennis muilenburg and his chief engineer that we don't already know? kevin: a guideline, and you heard that from the c.e.o. during his opening testimony, as well as in the opening exchanges with lawmakers in both the republican and democratic party. this was a much more remorseful tone from dennis muilenburg than we've heard, quite frankly, over the past year since the first two plane crashes of the boeing 737 max a

mr. muilenburg, you have submitted an extensive written statement. it will be entered in full in the record at this point. i understand mr. hamilton will not be making a formal statement. mr. mullenburg, you're recognized at this point to summarize your opening statement for five minutes. thank you. >> chairman wicker, ranking member cantwell, committee members. thank you for the opportunity to join you today. we share your commitment to aviation safety. before we start today, i'd like to speak directly to the families of the victims who are here with us. on behalf of myself and the boeing company, we're sorry, deeply and truly sorry. as a husband and father myself, i'm heartbroken by your losses. i think about you and your loved ones every day, and i know our entire boeing team does as well. i know that probably doesn't offer much comfort and healing at this point, but i want you to know that we carry those memories with us every day. and every day that drives us to improve the safety of our airplanes and our industry. that will never stop. i'm grate

mr. muilenburg's comments. i also want to state heavy weekly -- we have a weekly meeting june report on whether they are potential safety issue or not. >> so the max issues are not issues that exist with your 737s, 800s, 900? >> no. >> that is correct. >> let me ask -- i know the house side was looking at this issue as we focus on the tragic 737ons learned from the max accidents. should we also take the time to ensure the other 737 models that are receiving less attention now are nevertheless continued to be safe and to take the opportunity to look at the faa certification process on those to make sure that that is not bedeviled with some of the challenges we are discussing with regard to the max? would you agree that as an opportunity to not just focus on the max but the overall process to reboot the focus, both of your company and the faa, on safety? areenator, i believe there a number of independent reviews underway right now looking at the broader certification process. we support that broader look. >> mode

mr. muilenburg will be appearing before the house transportation committee today at 10:00 a.m. eastern. stock could hit new records when the company reports its latest earnings after the bell. we'll find out how strong demand is for iphone 11 and if services business continues to grow. the expectation is earnings per share to fall from 2% from a year ago, a slight increase in revenue to just under $63 billion. the services business is a key source of future growth for the company. it is expected to show a healthy improvement. we're going to take an early look at demand for you the new iphone 11 and forecast for the key holiday season which is upons us. cheryl: well. >>> facebook remains under attack by politicians and consumers over privacy and data he protection worries. but that's actually not expected to affect their financial performance. we're going to be hearing from them today. here's what analysts are looking for, earnings expected of to climb 8% on a 26% jump in revenue to more than $17 billion. ad sales, whichs is important, expected to increase more than 20% with a number of

mr. muilenburg during my opening statement, i mentioned an instant message conversation and then a seriesils the instant message conversation was between the 737 max chief technical pilot and a colleague. and it expresses concerns about the operation of the mcas. boeing knew about this instant message for months but failed to share it with the faa until recently with regard to the e-mails, again, mr. forkner, former max chief technical pilot, calls for removing any mention of the mcas flight control system from the flight crew operating manual he talks about jedi mind tricking of regulators, with at least one person who works for the faa. with regard to the instant message conversation, when were you made aware of the existence of the november 2016 messages? >> mr. chairman, as i recall, i was made aware of that message earlier this year, part of a document gathering process in response to a government investigation. >> so it was after the crashes, you were made aware of it this year >> sir, as i recall, i believe it was prior to the second crash earlier this year. >> was it your decision

mr. muilenburg is long for in job. what do you think, phil?o hard to predict i mean they have split the job of chairman and ceo. he remains ceo. >> very recently. >> and david calhoun, did this last week. david calhoun lead director at boeing he is non-executive chairman but i think -- he even said in a statement he expects to be active and the brody has taken on a more active role, especially as the company is trying to assure regulators and the folks in washington that safety is a priority so there is no way for me to prognosticate the future of dennis muilenburg at boeing. but clearly the documents and the exchange between the f.a. chl a and boeing -- by the way dennis muilenburg and the f.a. chl a administrator it did talk this afternoon there is no which to know his status at boeing. >> any final thaupts on boeing before we gets to final trades. >> it's strange how it even today holds in with the the news we heard about to guy's point it was moving sideways the last couple days or months and now you start to see this headline again risk.

mr. muilenburg when he says he's sorry? >> i have to say no. >> reporter: why not?because if he's sorry, he would have resigned. >> reporter: they brought their daughter's remains home from africa just one week ago. >> it's torn me apart. angela and i were so close. >> reporter: the mother of a max victim confronted muilenburg at the end of the hearing, saying, "when you say you're sorry to someone, you're supposed to look at them." he stopped, looked her in the eyes, and said, "i'm sorry." norah. >> o'donnell: kris, powerful, thank you. tonight, investigators are at the scene of a deadly plane crash in new jersey about 20 miles southwest of new york city. surveillance video shows a small plane nose-diving into a home that exploded into flames. the pilot was killed. here's nikki battiste. >> reporter: a home surveillance camera caught the small plane falling from the sky just before 11:00 a.m. the crash engulfed one house in flames and turned this central new jersey neighborhood into a chaotic scene. >> i heard a plane that sounded like it was really low. and then i

mr. muilenburg.pening statement i mentioned an instant message conversation and then a series of emails. 9 instant message conversation was between the 737 check technical pilot and a colleague and it expresses the concerns about the pralines of the mcas. boeing knew about this instant missage for months but failed to share it with the faa until recently. with regard to the emails, again, mr. faulkner, former chief max technical pilot, calls for removing any mention of the mcas flight control system from the flight crew operating manuel. he talks about jedi mind tricking of regulators, with at least one person who works for the faa. so with regard to the instant message conversation when were you made aware of the existence of the november 2016 messages? >> mr. chairman, as i recall i was made aware of that message earlier this year. it was discovered as part of a document gathering process in response to a government investigation. >> so it was after the crashes you were made aware of it this year?

mr. muilenburg's shoulders on capitol hill. return to alex harris in new york. a revelation to bloomberg from the treasury secretary about how they might approach the repo problem. it is interesting that secretary mnuchin is leaving the door open to loosening regulations year. there are so many bank regulators between the fed and the occ that i would not be surprised if we get some questions on this tomorrow at jerome powell's press conference after the decision is released. david: what role maybe jamie dimon played in all this -- jamie dimon said we would not put more cash into the system, we couldn't because of regulations. maybe the government is responding to that. alex: very well a possibility. this is not going to be an overnight solution. we will look at this for months to come. the other important thing is this is an acknowledgment that the market is not working properly. you had all these changes post- financial crisis. the fed and central banks have been involved. the market is not working in this capacity in the way that it used to. we're hearing from

mr. muilenburg left the hearing and one member said, you directly, and he turned to the mother of a young woman who died and said, "i'm sorry." clearly boeing is trying to show more contrition. he met with the indonesian ambassador last night to express more sympanoy. but this it it by a long shot. there are still more reports. there is anoth rough day of hearings ahead. the question is will this be enough for the families, and there are still the lawsuits to be resolved. >> yang: david shepardson of reuters, thank you so much. >> thanks. 'v >> woodruff: as heard tonight, so much of the news thesdays centers on ukraine. now, we turn to one of the darkest chapters in that couny's history-- the explosion at the chernobyl nuclear plant. that came fore its independence from the soviet union. special correspondent mon ostrovsky in northern ukraine tells us how that darkness is now pierced by a weird, and radioactive light. >> reporter: something strange is happening in chernobyl. the site of the world's worst radiological catastrop coming back to life. it's not the residents who are reurning o

mr. muilenburg they're they're getting closer but that still will take the f.a. chl a another 5 to 6 weeks to analyze after getting boeing's final documentation that puts us into -- into nextier or late december and the airlines will take probably one to two months each to get back in the service so the earliest we see is right about the end of the first quarter of next year and more probably the second quarter because there are a number of issues that have come up during that process is boeing is addressing as well as the fundamental problem with the macs system. >> people are so focused on what boeing can do and what they can do to get the plane in the air but in the terms of the f.a. a and the certification process, do you think that has to change permanently and could cause a longer path before the max gets back in the air. >> i think the process will change i think the review we've had with international repentingers will be thoreau enough once the submission is made, the recertification process will go smoothly but for the next affects, the 777 x, the i had

mr. muilenburg, how in the hell did nobody bring this to your attention in february, when you produced thist read this a couple weeks ago? >> senator, again to clarify my earlier comments, i was made aware of the existence of this kind of document, this issue, as part of that discovery process in the investigation, early in the year, as you pointed out. at that point, i counted on my counsel to handle that appropriately. and -- >> did you read this exchange? look, i was made aware documents were being produced. that is passive voice, and disclaiming responsibility. you're the ceo, the buck stops with you. neil: i'm sorry. anyway, that back-and-forth did not go well. let's go to "making money" host charles payne, what he makes of this. you know, you had been mentioning earlier that it doesn't give a great lift to capitalism today. explain. charles: well, boeing is our number one exporter, a great american success story, started by a lumber baron in washington with a vision and now of course, it is just dominating an industry where we see the most global growth over the next 20 years. so it's

mr. muilenburg this morning?at cost 346 human lives we need to find out what went wrong. we know it was preventible and i think what we're going to find out, there were mistakes at the corporate level, mistakes at the regulatory level and there was human error involved we want to make sure the planes are absolutely safe before they're back in the air. they need these planes and the tens and thousands of workers who depend on this industry need to get back to work too m is it fixed. there is an article. >> they relied heavily on boeing's flight simulator where they were using experienced pilots do you have faith in the faa >> well, i think that article is absolutely correct if you had this to do over again, what decision would you make that's a question to ask at the corporate level and the faa. at this point we've learned a lot and i have confidence in the leadership of the faa now. we have a new director and the leadership has more. we have both houses in the republican and the senate because of the unusual natu

mr. muilenburg saying they did not sell safety.k you. >> thank you >> appreciate it. >>> your morning movers. mohamed el erian's market call coming up. at the top of the hour, media legend and billionaire barry diller is going to join us for an extended interview. "squawk" returns after this. >>> let's get to dom chu. >> busy day. let's check out shares of young brands or tupperware tupperware brands down by 24%. missed on earnings those shares moving. we'll talk about other shares on the move yum brands is off about 5% this is the parent company of taco bell, kfc and pizza hut it's lower there by around 5 shares on volume it had weaker than expected growth at kfc. then we'll end on shares of garr min higher by 5% 1500 shares. this is navigation systems and fitness wearables. it showed stronger profit margins which is leading all of it to raise its full year forecast they all saw gains led by aviation and fitness those units, guys, both had sales rise by around 28%, joe. garr min is doing pretty well. back over to you. >> let's get

muilenburg, gave evidence to a congressional hearing. the 737 max 8 was involved in two crashes that killed 346 people. mr footballers have been ordered to play their next home match behind closed doors, and they've had a second match suspended. they've also been fined £65,000 after england players were racially abused by fans in a euro 2020 qualifier. it comes as haringey borough and yeovil town prepare to replay their fa cup fixture this evening — it was abandoned when haringey players left the pitch, accusing yeovil supporters of racist abuse. from north london, our sports correspondent natalie pirks reports. bulgaria already had form for racism. commentator: in fact, to me, that looked like a right—wing gesture. but when nazi salutes were also accompanied by monkey chants, it rocked the footballing fraternity. campaigners, though, say today's fine, with their next match played behind closed doors, may hit bulgaria in the pocket, but not where it hurts. it's really, really dispiriting and disappointing to see the reaction from uefa today. it's a real missed opportunity to send a really strong message a