BA - Boeing Stock Grounded After CEO Testimony To Congress: 'Issues Before Us Today Have Real Human Consequences: Life And Death' (UPDATED) | Benzinga
Editor’s Note: Additional information has been added to this article.
On Tuesday, The Boeing Company (NYSE:BA) CEO David Calhoun testified before the Homeland Security & Government Affairs subcommittee on investigations sharing more on the shortcoming of the company and what comes next.
What Happened: Subcommittee chairman Sen. Richard Blumenthal (D-Conn.) said Boeing is making leadership changes that look more like musical chairs. Blumenthal called this a "moment of reckoning" for Boeing.
Blumenthal recognized the family members of several airline disasters in attendance and the family members of one of the Boeing whistleblowers who committed suicide.
"The issues before us today have real human consequences: life and death," Blumenthal said.
The chairman called Boeing a once iconic company that has lost its way and took shortcuts that caused two preventable tragedies that put production speed over safety.
"Stock price over people."
Blumenthal said there is "mounting evidence" against Boeing brought forward by whistleblowers and encouraged more whistleblowers to come forward.
"These are chilling allegations."
Blumenthal encouraged Boeing to stop thinking about the next earnings call and start thinking about the ...