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Marketplace All-in-One

As Boeing’s CEO steps down, union negotations ramp up

Marketplace All-in-One

Marketplace

Business, News

4.51.4K Ratings

🗓️ 25 March 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

Boeing’s CEO has announced plans to step down just as the company begins negotiations with its largest labor union, which could authorize a strike in July if its demands aren’t meant. Also, the European Union’s antitrust regular investigates Apple, Google and Meta; why new home sales have become such a large chunk of the housing market; and tracing Haiti’s economic history from its founding to the current crisis.

Transcript

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0:00.0

Boeing's CEO is headed out. It's biggest union wants in. From Marketplace, I'm

0:07.8

Sabrie Beneschor, and for David Brancaccio. The CEO of Boeing will step down

0:12.0

at the end of this year the company announced this morning.

0:14.4

It's part of a broader management shakeup as the plane maker grapples with multiple federal

0:18.8

investigations after a door plug blew off a 737 max plane in January.

0:23.6

Marketplace's Henry Epp has more.

0:25.8

Three leaders of Boeing are headed for the exits,

0:28.2

CEO Dave Calhoun, board chair Larry Kellner,

0:30.9

and the head of its commercial airplanes division, Stan Deal.

0:34.3

The company is in the midst of a safety scandal and years of multi-billion dollar financial

0:39.0

losses after the January door plug incident and two fatal crashes of its 737 Max Plains several years ago.

0:46.3

That's damaged the company's reputation and its market share, as rival Airbus has won more

0:51.3

orders for commercial jets.

0:53.3

And the company is starting negotiations with its largest labor union, which plans to seek a seat

0:57.7

on Boeing's board and a 40% pay raise.

1:00.8

The current contract expires in September, and the union could authorize a strike in July.

1:05.0

I'm Henry Epp for Marketplace.

1:08.0

The European Union's antitrust regulator has just announced a major investigation into Apple, Google and Meta for

1:15.8

potential breaches of the EU's Digital Markets Act.

1:19.4

The BBC's Leanna Byrne has more.

1:21.8

The European Union has a new law designed to tackle the dominance of tech giants.

1:27.3

Violations could result in fines of as much as 10% of the company's global annual turnover. At a press conference this morning, the EU's global annual turnover at a press conference this morning.

...

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