FAA safety official retires; was criticized over Boeing jet

Wednesday, June 2, 2021 | David Koenig, AP Airlines Writer

In this June 19, 2015 file photo, Department of Transportation Federal Aviation Administration building is seen in Washington. The Federal Aviation Administration said Wednesday, June 2, 2021 that Ali Bahrami, the head of FAA's aviation safety office, will step down at the end of June. Bahrami was among FAA officials who were criticized by lawmakers and relatives of passengers on Boeing Max jets that crashed. (AP Photo/Andrew Harnik, File)

The Federal Aviation Administration said Wednesday that its top safety official will retire at the end of June. Ali Bahrami had come under sharp criticism from lawmakers and relatives of passengers who died in the crashes of two Boeing 737 Max jets, who accused him of being too cozy with Boeing.

Bahrami has led the FAA's aviation safety office since 2017 and previously was a manager for FAA in the Seattle area, overseeing approval of Boeing planes. He left FAA for a time to become an executive with a trade group, the Aerospace Industries Association.

The FAA said its deputy associate administrator for safety, Chris Rocheleau, will lead the safety office on an interim basis while the FAA searches for a long-term replacement.

Hundreds of relatives and friends of passengers who died in the Max crashes wrote last month to President Joe Biden and Transportation Secretary Pete Buttigieg, demanding that they oust Bahrami and three other FAA officials, including Administrator Stephen Dickson.

“Bahrami’s departure is needed for the FAA to regain credibility, escape capture by industry, and put safety first,” Michael Stumo, whose daughter Samya died in the second Max crash, said Wednesday.

Stumo and relatives of other passengers blamed Bahrami and other FAA leaders for not grounding the plane after the first crash five months earlier.

An investigation led by House Transportation Committee Chairman Peter DeFazio said Bahrami didn't know details about an FAA analysis after the first crash that predicted more accidents if a key flight-control system wasn't fixed. The problem wasn't addressed until after the second crash.

Bahrami repeatedly defended the FAA’s practice of delegating much safety analysis to Boeing. However, Bahrami was not working at FAA when the agency certified the Max, and a former colleague said he has been treated unfairly.

“This was a professional who had a long, distinguished career in aviation, and this position was a capstone to that career," said former FAA chief counsel Arjun Garg. "A problem got thrust on him that was not of his own making, but he ended up being the face of complaints about the FAA from the families and from Chairman DeFazio.”

In an internal memo to FAA employees Wednesday, Bahrami, who is in his mid-60s and started his career as an aircraft engineer, said retiring “was not an easy decision,” but that he wants to spend more time with family “and focus on my next chapter.” Among the accomplishments he cited were returning the Max to service after a 20-month grounding.

Featured Article: What is a Fiduciary?

7 Bellwether Stocks Signaling a Return to Normal

Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.

The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.

But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.

With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.

One quality of many of these stocks is that they are either negative for 2021 or underperforming the broader market. And that means that they are likely to have a strong upside as the economy grows.

View the "7 Bellwether Stocks Signaling a Return to Normal".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.