Congressional 737 Max Report Is a Warning for Boeing Investors
It's been a tough year for Boeing (NYSE: BA), but the aerospace giant and its shareholders should get some much-needed good news before year's end as regulators appear close to allowing the 737 Max to resume flying.
With the stock off nearly 50% year to date and the Max's return a key boost to free cash flow, bargain hunters might be tempted by Boeing shares. But a scathing new report from Congress on the issues that led up to a pair of deadly 737 Max crashes, along with the plane's subsequent March 2019 grounding, is a reminder Boeing's challenges are far greater than just getting the plane airborne again.
Congressional investigators in the report blame the crashes on "a horrific culmination of a series of faulty technical assumptions by Boeing's engineers, a lack of transparency on the part of Boeing's management, and grossly insufficient oversight" by the Federal Aviation Administration. It also put a lot of the blame on Boeing's internal culture.
Source Fool.com
