Quantcast
 
New ETF Book by Larry Connors - Click here to read more


 

Boeing halts 2 aircraft lines: Work was indefinitely suspended on the V-22 Osprey and CH-47 Chinook at its Delco plant.

Sat. November 22, 2008; Posted: 01:20 PM
Stocks RSS
Nov 22, 2008 (The Philadelphia Inquirer - McClatchy-Tribune Information Services via COMTEX) -- BA | Quote | Chart | News | PowerRating -- The Boeing Co. yesterday was forced to indefinitely suspend manufacturing on two lines of military aircraft at its Delaware County plant after the discovery earlier in the week of a plastic cap in the fuel line of a V-22 Osprey in production.

"It is a very serious matter when you can't deliver on the commitments you have made to your customers," said Boeing spokesman John G. Williamson. "We take this very seriously."

The shutdown of work on the Osprey, a tilt-rotor craft, and on the CH-47 Chinook, a medium-lift cargo helicopter, at the Ridley Park facility was ordered in conjunction with a Corrective Action Request (CAR) by the Defense Contractor Management Agency. As an arm of the Defense Department, the agency has day-to-day oversight of defense contractors.

Its CAR automatically halts the acceptance of any aircraft from the Boeing plant while an investigation is under way, Williamson said.

He would not disclose what object was found and precisely when, nor was he prepared to classify it as an act of vandalism. That was finding on the damage in May to two Chinook helicopters on the assembly line at the plant just south of Philadelphia International Airport.

U.S. Rep. Joe Sestak (D., Pa.), whose district includes the plant, said last night that Boeing officials told him the incident involved a "squeezed plastic cap" about the size of a dime that was found in the fuel line of the Osprey.

"Because of that, Boeing says they cannot rule out" vandalism "and therefore they're proceeding as if it were," Sestak said.

He said the improperly placed cap was discovered at the end of a shift, when workers were searching aircraft for two other caps that were unaccounted for. Sestak had no information on the whereabouts of those caps.

While calling the episode and the disruption to production "disappointing," Sestak said "I'm encouraged that the proper oversight to find these incidents was there."

Williamson said the company would spend the next few days "inspecting everything in the manufacturing plant and looking at our own processes and procedures to see what we can do to make sure this doesn't happen again."

Meanwhile, all employees are expected to report to work for their regular shifts. About 1,600 of the 6,000 employees at the sprawling plant along the Delaware River work in manufacturing, he said.

In the May incident, production was shut down for several days after hacked wires and other meddling were discovered on two Chinooks. Federal authorities arrested a unionized assembly line worker and had offered a $10,000 reward for help in finding what they believed was a second culprit.

Contact staff writer Diane Mastrull at 215-854-2466 or dmastrull@phillynews.com.

To see more of The Philadelphia Inquirer, or to subscribe to the newspaper, go to <a href=http://www.philly.com>http://www.philly.com</a>. Copyright (c) 2008, The Philadelphia Inquirer Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Boeing Co (BA) click here. Boeing Co (BA) has Short Term PowerRatings of 7. Details on Boeing Co (BA) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [BA]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.