Drug Raid at Boeing Plant (BA)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Boeing Co. (NYSE: BA) doesn’t have enough trouble, what with three-year delays to its new passenger liner and an order cancellation for its newest freight hauler just days before the new plane was set for delivery. Now, the company’s plant near Philadelphia has been raided and 23 people have been charged with illegal distribution of prescription drugs.

The plant is part of Boeing’s Defense, Space, Security division and builds the H-47 Chinook helicopter and the V-22 Osprey, a tilt-rotor plane. According to the Philadelphia Inquirer, 14 people were also charged with attempted possession of the drugs being sold by their co-workers.  The investigation that led to the raid included users “because of the critical role that these employees play in manufacturing military aircraft,” the US District Attorney said.

That makes this more than just another bruise to Boeing’s ego. The Defense Department could delay production at the plant while it inspects, or forces Boeing to inspect, the aircraft that have come from the plant for the past year or two. That will certainly cost Boeing some money, even though it is unlikely to shut down the plant for good.

The drugs involved including pain killers fentanyl and oxycodone, and the anti-depressant Xanax. All typically cause drowsiness and other side effects that could hamper work performance.

Boeing ought to take this incident seriously. US military pilots and crews deserve better than this from the makers of their equipment. This incident is, or should be, about more than just a few bad (low-level) apples who want to get high at work. Boeing management should also be on the line here.

Paul Ausick

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618