The FAA has opened an investigation into Boeing’s 787 Dreamliner after the company disclosed that employees in South Carolina falsified inspection records on work done where the wings are joined to the fuselage body.
Boeing informed the Federal Aviation Administration in April that, despite records indicating completion of required inspections, workers had not performed some of those inspections to confirm adequate bonding and electrical grounding at the 787 wing-to-body join.
“The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records,” the federal safety agency said via email.
Boeing said its engineers have established that this newly discovered lapse does not create “an immediate safety of flight issue.”
That video provides literally no value. “Spend money on share holders and cut corners.” Examples?
A big part of what’s going on is a reverb of covid. The whole aerospace industry got hammered during covid, which forced a lot of experienced people to retire. We are now seeing what happens when a company with has a ton of tribal knowledge loses a lot of experienced all at once
Buybacks were illegal throughout most of the 20th century because they were considered a form of stock market manipulation. But in 1982, the Securities and Exchange Commission passed rule 10b-18, which created a legal process for buybacks and opened the floodgates for companies to start repurchasing their stock en masse.
The SEC’s decision to make this shift came against the backdrop of President Ronald Reagan’s era of deregulation and coincided with the rise of ‘free market’ economists preaching a new type of social responsibility for business: increasing profits.
So, uh, yeah, it’s more of that sweet #1 bullshit from Reagan. It’s true the loss of experienced people hurt the company, there have been numerous reports on that aspect. That doesn’t have anything to do with cheating on quality inspections.
There was a LOT more to it than that, reportedly.