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Boeing named aerospace industry veteran Robert "Kelly" Ortberg as its new CEO as the airplane manufacturer seeks to rebuild trust with regulators and the public.

Boeing names Kelly Ortberg as new CEO

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Chicago Star Media

Boeing has appointed Robert K. "Kelly '' Ortberg CEO and president of the struggling aerospace corporation. Ortberg assumes leadership at a pivotal time for Boeing, and will be tasked with turning the company around amid mounting scrutiny and financial troubles.

Boeing names new CEO in wake of dismal second quarter earnings report

Boeing has announced Kelly Ortberg as its new Chief Executive, selecting the former head of one of its suppliers to navigate the company through one of the most challenging periods in its history. Ortberg will commence his role on August 8 and join Boeing’s Board, concluding months of speculation following Dave Calhoun’s March announcement that he would step down by the end of the year.

Boeing’s Shares Rise as Kelly Ortberg is Officially Appointed as the New CEO

TheDailyBeast

Boeing is pulling a veteran aviation engineer out of retirement to turn around the company’s lagging safety reviews and turbulent stock prices. Kelly Ortberg will take over as the company’s CEO on Aug. 8, after Dave Calhoun announced in March he would step down as CEO after repeated quality control breakdowns, including a loose bolt that caused a door plug to blow out in midair. Ortberg will face strong headwinds in revamping the company’s image, including raising Boeing stock, which plunged 27 percent this year after the door plug accident, on par with its worst year since COVID-19 effectively shut down industry in 2020. The fallout from January’s accident is affecting much more than Boeing’s commercial flying business. The company’s defense and space division lost $1 billion this year on contracts, including losing a highly anticipated military tanker program. Ortberg was chosen to tackle Boeing’s challenges because he has a reputation in the industry as a no-nonsense, business-savvy leader.Read it at BloombergRead more at The Daily Beast.

Boeing Names Veteran Engineer Kelly Ortberg as CEO to End Safety Crisis

Port Richey, FL

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

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Akeena

Florida’s buffet lovers are in for a shocker as the popular Royal Sushi Buffet & Hibachi in Port Richey has been temporarily shut down following a state inspection. This isn’t the first time the eatery has faced such trouble, but the recent closure has sparked quite a buzz among its loyal patrons and food enthusiasts alike.

Live roaches, flying objects in the kitchen and soiled shelves- Buffet closed again in Florida

24/7 Wall St.

In case you have been living under a rock for the past year and a half, NVIDIA Corp. (NASDAQ: NVDA) has been the market’s hottest stock and is now one of the largest companies — as measured by market capitalization — in the entire world. After the chipmaker underwent a recent 10-for-1 stock split on June […]
The post If You Bought $100 of Recently Split Stock NVIDIA at Its IPO, This Is How Much It’d Be Worth Now appeared first on 24/7 Wall St..

If You Bought $100 of Recently Split Stock NVIDIA at Its IPO, This Is How Much It’d Be Worth Now

The Motley Fool

Investors worried about the impact of reduced production expectations at Boeing and Airbus will have been reassured by the aerospace giant's latest earnings report.

GE Aerospace Silences the Doubters -- Here's Why the Stock Is a Buy

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

J. Souza

Royal Caribbean’s Utopia of the Seas, a $1.35 billion behemoth of the sea, has recently been introduced to the world since its maiden voyage on July 19th. The ship, boasting nearly 5,700 passengers and a crew of over 2,200, offers an array of amenities designed to cater to multi-generational families on shorter 3- and 4-day itineraries.

Cruise Passengers Not Happy About Feature on World's Newest Mega Ship

960 The Ref

Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. In a memo to staff, Intel Corp. CEO Pat Gelsinger said Thursday the company...

Chipmaker Intel to cut 15,000 jobs as tries to revive its business and compete with rivals

Boeing named a new CEO Wednesday after reporting a core operating loss of $1.4 billion in the second quarter — more than triple the loss from a year ago — as increased scrutiny of the safety and quality of its planes kept the troubled company from making enough aircraft to return to profitability.

Boeing names new CEO after losses more than triple

Reuters

(Reuters) -Kelly Ortberg, the former Rockwell Collins boss tapped to lead Boeing, has a background that threads a delicate needle for the planemaker - a company outsider untethered to Boeing's past, but an industry insider with an engineering background.

New Boeing boss Kelly Ortberg brings engineering background, aerospace roots

California State

The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Palantir has emerged as a major force in the artificial intelligence (AI) realm. The company is seeing rapid adoption in the private sector, and its government business has growth picking up. Despite trading at a hefty premium, the bullish long-term picture suggests the stock could have massive upside. Dan Ives...

1 Artificial Intelligence (AI) Stock With 75% Upside to Buy Hand Over Fist, According to Dan Ives

China’s BYD, the world’s biggest EV maker, is hoping to ride-share Uber’s coattails. On Wednesday Uber announced a new partnership with BYD to get 100,000 of its drivers into the company’s electric vehicles: part of the ride-hailing service’s plans to decarbonize its business. Uber signed a similar deal with Tesla not so long ago — the difference is that the US government hasn’t been trying to freeze Tesla out of the market.

BYD Finds an American Friend in Uber

New York Post

Microsoft predicted quarterly growth for its Azure cloud platform below estimates on Tuesday and said its capital spending would rise this fiscal year, in another sign the payoff in hefty AI investments may take longer than first thought.

Shares fell 7% after the company gave the spending forecast on a call with analysts but quickly pared losses to trade down 3% after it said Azure growth would accelerate in the second half of fiscal 2025.

Microsoft – widely seen as the frontrunner in the race to make money from generative artificial intelligence thanks to its tie-up with OpenAI – has been investing heavily to expand its...

Microsoft sends shockwaves through tech sector after signaling AI payoff will take longer

The burritos will be bigger, and you can take that to the bank. An investigation from Wells Fargo last month may have helped push Chipotle to finally come to terms with its alleged portion problem. Wells Fargo analyst Zachary Fadem led a team of financial professionals who ordered 75 burrito bowls from eight NYC locations to determine if the Mexican grill truly was scrimping on chicken. The team found that inconsistency varied widely between stores, according to Barron’s.

Wells Fargo Analyzed Chipotle’s Burritos. They’re Actually Bigger Now

Boeing named an aerospace industry veteran with a background in mechanical engineering as its next chief executive Wednesday, looking to open a new chapter at a company rocked by legal, regulatory and production problems and mounting financial repercussions. Robert “Kelly” Ortberg, a former CEO at aerospace manufacturer Rockwell Collins, will...

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion

Denver, CO

David Heitz

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Illinois State

MOD Pizza has over 500 locations across the country with 22 restaurants in Illinois. The Washington-based chain offers fast-casual fare known for its customized, artisan-style pizzas. Customers can choose from over 40 toppings and 8 sauces to create their own masterpiece.

Bankruptcy Looms for Major Pizza Chain With Chicago Suburban Locations

NewsBreak

Boeing Taps New CEO to Navigate Cloudy Skies, Multibillion-Dollar Losses

Boeing is hoping the third CEO in five years is the charm. The aerospace manufacturing giant announced Wednesday that Robert “Kelly” Ortberg, an industry veteran, will...

Boeing Taps New CEO to Navigate Cloudy Skies, Multibillion-Dollar Losses

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