The Federal Aviation Administration is reportedly launching a review of how Boeing (BA) - Get Free Report employees handle safety matters on the agency’s behalf, according to the Wall Street Journal.
Citing an agency letter and people familiar with the matter, the Journal reported that some engineers said they face undue pressure and hurdles to transparency that “indicate the environment does not support independence."
The FAA has long relied on Boeing employees to act on its behalf in some matters, the Journal reported.
A Boeing spokeswoman told the Journal, Boeing takes “these matters with the utmost seriousness” and is working to encourage the independence of employees.
Jim Cramer shared his take on how Boeing stock reacted to the news in the video above and why he finds the upward move in the stock encouraging.
As of intraday trading, Boeing stock was up 1.05% to $221.70.
TheStreet Live Recap: Everything Jim Cramer Is Watching 8/24/21
Boeing is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.