company:boeing co.

  • Boeing’s 737 Max Software Outsourced to $9-an-Hour Engineers - Bloomberg
    https://www.bloomberg.com/news/articles/2019-06-28/boeing-s-737-max-software-outsourced-to-9-an-hour-engineers


    The cockpit of a grounded 737 Max 8 aircraft.
    Photographer: Dimas Ardian/Bloomberg

    • Planemaker and suppliers used lower-paid temporary workers
    • Engineers feared the practice meant code wasn’t done right

    It remains the mystery at the heart of Boeing Co.’s 737 Max crisis: how a company renowned for meticulous design made seemingly basic software mistakes leading to a pair of deadly crashes. Longtime Boeing engineers say the effort was complicated by a push to outsource work to lower-paid contractors.

    The Max software — plagued by issues that could keep the planes grounded months longer after U.S. regulators this week revealed a new flaw — was developed at a time Boeing was laying off experienced engineers and pressing suppliers to cut costs.

    Increasingly, the iconic American planemaker and its subcontractors have relied on temporary workers making as little as $9 an hour to develop and test software, often from countries lacking a deep background in aerospace — notably India.

    In offices across from Seattle’s Boeing Field, recent college graduates employed by the Indian software developer HCL Technologies Ltd. occupied several rows of desks, said Mark Rabin, a former Boeing software engineer who worked in a flight-test group that supported the Max.
    […]
    In one post, an HCL employee summarized his duties with a reference to the now-infamous model, which started flight tests in January 2016: “Provided quick workaround to resolve production issue which resulted in not delaying flight test of 737-Max (delay in each flight test will cost very big amount for Boeing).

  • Nine charged in $100m insider trading case tied to Ukraine hackers
    http://www.cnbc.com/2015/08/12/nine-charged-in-100m-insider-trading-case-tied-to-ukraine-hackers.html

    It was a symbiotic relationship that brought together the underbelly of Wall Street and the dark reaches of the online world.

    From their suburban homes in the United States, dozens of rogue stock traders would send overseas hackers a shopping list of corporate news releases they wanted to get a sneak peek at before they were made public. The hackers, working from Ukraine, would then deliver how-to videos by email with instructions for gaining access to the pilfered earnings releases.

    In all, 32 traders and hackers reaped more than $100 million in illegal proceeds in a sophisticated and brazen scheme that is the biggest to marry the wizardry of computer hacking to old-fashioned insider trading, according to court filings made public on Tuesday. One of the men, Vitaly Korchevsky, a hedge fund manager and former Morgan Stanley employee living in a Philadelphia suburb, made $17 million in illegal profits, the indictment said.