Bloomberg reports that Boeing will temporarily halt production of its grounded 737 Max jetliner next month, according to a person familiar with the matter.
The Chicago-based planemaker had been hoping to get regulatory approval to fly the 737 Max by January, but the Federal Aviation Administration has signaled that timetable is increasingly unrealistic.
The company’s best-selling plane was grounded after an Ethiopian Airlines flight crashed in March, the second tragedy within five months.
Boeing stock had its biggest drop Monday in nearly two months.
In other Chicago-area news:
Could the city of Chicago be ready to grow it’s own recreational pot?
Mayor Lori Lightfoot says she is “very serious” about the idea.
According to reporting from the Chicago Sun-Times, Lightfoot is ready to back a plan that would give minorities a chance to learn the marijuana business without having to put up the large investment normally required to enter the marketplace.
Lightfoot said she believes $15 million generated by tax-increment financing could be used as seed money for such a venture.
And finally, the founders of Chicago-based medical communications company Outcome Health have pleaded not guilty to fraud charges in federal court.
Rishi Shah and Shradha Agarwal are charged with mail fraud, wire fraud and bank fraud.
Outcome Health was once regarded as one of the most promising tech startups in Chicago. But two years ago, it was accused of misleading pharmaceutical companies, overbilling them for ads on its network of TVs and computers in doctor’s offices.
Crain’s Headlines is a joint production between WTTW and Crain’s Chicago Business. It airs every Monday through Thursday on the WTTW News program “Chicago Tonight.”
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Crain’s Headlines: FAA Chief Says 737 Max Won’t Be Cleared Before 2020
