Nearly a year after the second deadly crash of a Boeing 737 Max jet, the fastest-selling airplane in Boeing's history remains grounded. Consumer advocate Ralph Nader, whose grandniece was killed in that disaster, said that even once the plane makes it back to the skies, he won't fly in it.
"Anytime when you have excessive automation taking the plane's control away from the pilots, passengers have got to be very concerned with that," he told Cheddar on Monday. "One of the problems with all of these new planes is excessive automation."
Automation is, at least in part, to blame for the Lion Air crash that killed 189 and the Ethiopian Airlines crash that claimed 157 lives.
The Maneuvering Characteristics Augmentation System (MCAS) has been cited as one of the main factors both planes crashed. A new report about the March 10, 2019, Ethiopian Airlines flight that prompted the plane's grounding showed design flaws accounted for the catastrophic failure, not pilot error or airline performance.
But Nader said the glitches aren't the only problems he's concerned about. "More and more problems beyond the MCAS software glitch and snitch have emerged," he said.
He said Boeing contributing to Congressional campaigns, "freebies all the airlines give to senators and representatives," and cuts to Federal Aviation Administration budgets contributed to the regulatory agency's decision to shift certification to Boeing, itself.
The FAA came under scrutiny when, following the crashes, it became public that the agency had delegated responsibility to the company for testing the jet.
"It went from a regulatory agency to a delegating agency," he said. "Now they gotta pull it all back."
In the meantime, the jet remains grounded and Boeing stands to lose an estimated $18 billion while the plane's timeline for return remains unclear.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
