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Boeing whistleblower reportedly found dead
Barron’s senior writer Al Root joins ‘Barron’s Roundtable’ to discuss the latest in Boeing’s stock price and what to expect from the company in 2024.
The whistleblower that publicly raised doubts about Boeing’s production standards has reportedly been found dead.
The Charleston County Coroner’s Office told the BBC that John Barnett, 62, died from a self-inflicted wound on Saturday. According to the BBC, Barnett was cross-examined by Boeing’s lawyers and his own attorney days before he died.
The court planned for Barnett to answer more questions on Saturday, but he did not appear as planned.
The BBC reported that he was later found dead in his truck, which was parked in a hotel parking garage.
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Signage outside the Boeing Co. manufacturing facility in Renton, Washington, US, on Monday, Feb. 5, 2024. (David Ryder/Bloomberg via Getty Images / Getty Images)
Barnett was employed by Boeing for over three decades before retiring in 2017. He worked as a quality control engineer at the company.
In 2019, Barnett told the BBC that Boeing would rush to get its 787 Dreamliner jets off the production line, compromising safety.
He alleged the emergency oxygen systems that were made for 787 Dreamliners had a failure rate of 25%. This meant that a quarter of 787 Dreamliners had the potential to rapidly lose oxygen if the cabins were suddenly decompressed, suffocating passengers.
Barnett said that he had encountered these issues when he began working at Boeing’s North Charleston plant in 2010. He reportedly raised his concerns to his managers, but did not see them take any action.
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Boeing 787 Dreamliners are built at the aviation company’s North Charleston, South Carolina, assembly plant on May 30, 2023. (JULIETTE MICHEL/AFP via Getty Images / Getty Images)
The Federal Aviation Administration reviewed Boeing in 2017 and ordered the company to take action, which corroborated some of Barnett’s allegations.
Boeing told FOX Business that the company was saddened by Barnett’s death.
“We are saddened by Mr. Barnett’s passing, and our thoughts are with his family and friends,” Boeing’s statement read.
A Boeing 787-9 Dreamliner taxis after concluding its first flight September 17, 2013 at Boeing Field in Seattle, Washington. (Stephen Brashear/Getty Images / Getty Images)
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FOX Business reached out to the Charleston County Coroner’s Office for more information.
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As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.
One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.
Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.
In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.
It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.
In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.
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