✈️ Can Boeing Turn Things Around?

Good morning. US stock futures dipped in Wednesday morning trading as investors awaited the latest Federal Reserve policy decision.

✈️ FAA dings Boeing on safety culture, quality issues 

📝 Our report: The head of the US Federal Aviation Administration (FAA) just hit Boeing with a not-so-friendly “to-do” list: they've got to spruce up their safety and tidy up their quality controls before they can crank up the 737 MAX production line. The FAA in late January took the unprecedented step of telling Boeing it would not allow the company to expand 737 MAX production in the wake of a mid-air emergency on an Alaska Airlines jet earlier in the month.  

 🔑 Key points:

• FAA Administrator Mike Whitaker told Reuters in an interview that the agency has not begun discussions yet with Boeing about hiking 737 production, and said the agency will only permit an increase when Boeing is "running a quality system safely."

• Whitaker said the timeline on when Boeing will be allowed to boost the 737 MAX production rate will depend on "how effectively they can implement these changes in the safety culture and bring their quality levels up to where they need to be."

• Boeing is allowed to produce 38 of the 737 planes per month, but the company’s chief financial officer, Brian West, said last month that the planemaker's first-half output of 737 planes would be less than 38 per month, but in the second half said he expected it would "move toward that 38 per month, but it will be dictated" by the FAA.

💡 So what: The FAA's clampdown on Boeing for quality control and safety issues means that the aviation regulator is putting pressure on Boeing to address concerns related to the safety culture and quality control processes within the company. This move suggests that the FAA is taking a proactive approach to ensure that Boeing meets stringent safety standards before allowing an increase in production of its 737 MAX aircraft. It also signifies the importance of prioritizing safety in the aerospace industry to prevent potential risks to passengers and aircraft operations.

Wednesday - FOMC Rate Decision, Fed Chair Powell Press Conference

Thursday - US Leading Economic Indicators

Friday - Atlanta Fed President Raphael Bostic Speaks

 📈 What it means to rebalance your portfolio?

💰 Do you have “money dysmorphia?”

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🤖 Nordstrom founding family considers bid to take company private

WHAT: Looks like the Nordstrom family is dusting off their "take us private" playbook for another spin! Word has it they're revving up to reclaim Nordstrom Inc. and take it back into the family fold, six years after their last go at it fell flat.

WHY: The deal deliberations come as Nordstrom and other U.S. retailers grapple with consumers curbing their discretionary spending following a bout of inflation and high interest rates. Macy's Inc, another department store operator, has also become a takeover target.

🥤 Subway drops Coke, chooses Pepsi

WHAT: PepsiCo Inc. just pulled off a refreshing victory! They've snagged an exclusive deal to be the go-to beverage provider at all Subway sandwich shops across the US replacing rival Coca-Cola Co. as the drink supplier to one of the nation’s largest chains.

WHY: Subway is Coca-Cola’s largest US fountain account by number of locations, according to Beverage Digest. With about 20,000 stores, the sandwich shop is the country’s largest restaurant chain by number of locations, data compiled by restaurant research firm Technomic shows. It has nearly 37,000 stores worldwide.

🏈 ESPN, College Football Playoff ink new multi-billion dollar deal

WHAT: College football just scored big! The College Football Playoff and ESPN sealed the deal worth a whopping $7.8 billion, granting ESPN exclusive rights to the expanded postseason until 2031. And here's the kicker: the national championship game will be making its grand entrance on ABC starting in 2026.

WHY: ESPN has been the home of the CFP's primary broadcast for the championship game through the first 10 years of the playoff, and will remain so for the final two years of the original 12-year deal. In 2026, the title game moves to ESPN's parent network, ABC.

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