The problem is it’s actually is sorta Boeing’s fuck up here. The questionable source titanium was caught at spirit aerospace who manufactures parts for Boeing and airbus. Spirit aerospace was originally a Boeing factory that was spun off into its own company in 2005 in one of Boeing idiodic stock pump schemes. Boeing on paper does not have control over spirit aerospace but all of spirit’s leadership came from Boeing with their CEO having worked for Boeing for 31 years. Boeing also has a lot of pull inside spirit being their largest customer by a significant margin. Boeing is currently in talks of buying back spirit aerospace to fix the mess they got themselves into.
Well the alternative here would have been to not say anything and cover it up. They found counterfeit material in their inventory and raised the alarm, nothing better they could have done. I don’t know what the acquisition process was for that stock, maybe they did fuck up by buying it, but once you realize the problem is there you have to say something or people die.
We are really going to have to wait for the FAA’s investigation because there’s still all sorts of questions about their acquisition process and where exactly was the certificate forged. The big question i have thought was when did spirit discover that the certificates were forged because they are claiming parts manufactured all the way back in 2019 were effected. I believe some suspicion on the side of spirit is warranted because this is the same company that is currently being investigated on claims that they were covering up safety issues. Not to speculate too much but I wouldn’t be surprised if spirit knew the titanium was fraudulent as early as 2019 and are only now doing something about it because they are being investigated for other issues and wanted to control the narrative.
The problem is it’s actually is sorta Boeing’s fuck up here. The questionable source titanium was caught at spirit aerospace who manufactures parts for Boeing and airbus. Spirit aerospace was originally a Boeing factory that was spun off into its own company in 2005 in one of Boeing idiodic stock pump schemes. Boeing on paper does not have control over spirit aerospace but all of spirit’s leadership came from Boeing with their CEO having worked for Boeing for 31 years. Boeing also has a lot of pull inside spirit being their largest customer by a significant margin. Boeing is currently in talks of buying back spirit aerospace to fix the mess they got themselves into.
A lot of it was in their 787 global manufacturing push.
Well the alternative here would have been to not say anything and cover it up. They found counterfeit material in their inventory and raised the alarm, nothing better they could have done. I don’t know what the acquisition process was for that stock, maybe they did fuck up by buying it, but once you realize the problem is there you have to say something or people die.
We are really going to have to wait for the FAA’s investigation because there’s still all sorts of questions about their acquisition process and where exactly was the certificate forged. The big question i have thought was when did spirit discover that the certificates were forged because they are claiming parts manufactured all the way back in 2019 were effected. I believe some suspicion on the side of spirit is warranted because this is the same company that is currently being investigated on claims that they were covering up safety issues. Not to speculate too much but I wouldn’t be surprised if spirit knew the titanium was fraudulent as early as 2019 and are only now doing something about it because they are being investigated for other issues and wanted to control the narrative.
There’s never a good reason to do that. If you find bad material pretty much all incentives align to have you report it.