Boeing whistleblower says he was pressured to hide defects [Yahoo! Finance]
Spirit Aerosystems Holdings, Inc. (SPR)
Last spirit aerosystems holdings, inc. earnings: 2/28 07:30 am
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Source: Yahoo! Finance
Santiago Paredes worked for over a decade as an inspector at Spirit Aerosystems, Boeing's largest parts manufacturer. He told CBS News and the BBC that he wasn't surprised when missing door bolts led to an entire 737 Max door plug blowing out of an Alaska Airlines flight midair in January. “Why'd that happen? Because Spirit let go of a defect that they overlooked because of the pressure that they put on the inspectors,” Paredes said. “If the culture was good, those issues would be addressed, but the culture is not good.” He said he would see hundreds of defects in parts on a regular basis, even earning the nickname “showstopper” from higher-ups for how frequently he slowed production due to his inspections. “They always made a fuss about why I was finding it, why I was looking at it,” he said. “They just wanted the product shipped out. They weren't focused on the consequences of shipping bad fuselages,” he continued. “They were just focused on meeting the quotas, meeting the
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SPR
News
- Emirates boss says Boeing needs strong CEO to end crisis [Yahoo! Finance]Yahoo! Finance
- FAA says it 'doesn't have a timeframe' for when Boeing will be allowed to increase production of its 737 Max planes again [Business Insider]Business Insider
- FAA reviews roadmap to ‘reset the safety culture' at Boeing in three-hour meeting with CEO [CNN]CNN
- Is Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Expensive For A Reason? A Look At Its Intrinsic Value [Yahoo! Finance]Yahoo! Finance
- Boeing Shares Drop After CFO Says Cash Burn to Continue This Quarter [Yahoo! Finance]Yahoo! Finance
SPR
Earnings
- 5/7/24 - Miss
SPR
Sec Filings
- 5/28/24 - Form SD
- 5/8/24 - Form 4
- 5/8/24 - Form 4
- SPR's page on the SEC website