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The story behind Boeing guilty plea today is the effort to bring its manufacturing futher 'in-house' after a disastrous focus on financial profitability, and not its core-competency - building airplanes.
The acquisition of 'Spirit Aerosystems', which made the door which failed during an Alaskan Airlines flight, and a major subcontractor for Boeing, continues.
Boeing agreed to plead guilty to a conspiracy fraud charge tied to the 737 Max crashes.
Under the deal, Boeing agreed to pay a $243.6 million fine and for an third-party monitor to be installed to monitor the company’s compliance, reported CNBC.
The deal spares Boeing from a trial just as the plane maker is trying to turn a corner in its safety and manufacturing crises.
The guilty plea would brand the planemaker a felon and could complicate its ability to sell products to the U.S. government. About 32% of Boeing’s nearly $78 billion in revenue last year came from its defense, space and security unit.
We spoke with former director of the F-22, and F-35 programs at Lockheed Martin, Tom Burbage about the manufacturing issue in U.S. aviation earlier in the year below.
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