Home Business and Economics This Week in Business: CBS, Boeing, and More

This Week in Business: CBS, Boeing, and More

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CBS Sued Over Gender Discrimination

A producer on the show 60 Minutes has sued CBS over gender discrimination. The associate producer said that the company retaliated after she reported inappropriate conduct. In the complaint, she said that executive producer Michael Gavshon sent her a photo that made her feel “disgusted, uncomfortable and scared”. However, Gavshon said that he meant to send the picture to his sister.

Neither CBS nor Gavshon responded to a request to comment. However, according to the complaint, CBS’ human resources department conducted an investigation after the Cassandra Vinograd raised concern. Following the investigation, Vinograd was then stripped of all work responsibilities. Recently, many CBS executives have been the subject of sexual harassment allegations.

Boeing To Halt 737 Max Production

Boeing plans to temporarily halt 737 Max production in January, the company announced. Months ago, more than 300 people died when two of the aircraft crashed after reports of a new problem surfaced. However, despite the crashes, Boeing continued production of the airliner. Currently, Boeing hopes that the airliner will return to skies by the end of the year.

However, US air regulators made it clear that it will not happen that fast. “Safely returning the 737 Max to service is our top priority,” the aircraft manufacturer said. “We know that the process of approving the 737 Max’s return to service, and of determining appropriate training requirements, must be extraordinarily thorough and robust, to ensure that our regulators, customers, and the flying public have confidence in the 737 Max updates.”

US Housing Market Regaining Steam

US homebuilding increased more than expected in November, and permits for future home building jumped to a 12-and-a-half year high. This combined with lower mortgage rates continues to boost the housing market and support the economy. Overall, housing growth has increased by 13.6% since last November. In addition, building permits grew to 1.482 million units, the highest since May 2007.

“We are still at least several more years from returning to historical averages of home building, but these numbers show not only more inventory for buyers, but also a small boost to the economy given the home building industry is ramping up,” said Robert Frick, corporate economist.

Samsung Chairman Jailed For Union Busting

A South Korean court sentenced Samsung chairman Lee Sang-hoon to 18 months in prison for union sabotage. Lee, along with 25 other defendants, violated many labor union-related laws. Prosecutors claim that Samsung executives used several different tactics to target union activities. Samsung has yet to comment on the ruling.

Ford To Invest $1.45Bn In Detroit Plants

Ford announced plans to invest $1.45Bn into two new Detroit plans on Tuesday. The new plans will supply 3,000 jobs to the surrounding area. The plants will focus on electric, sport utility, and self-driving vehicles. In addition, Ford will begin assembling battery cells for the F-150’s hybrid and electric versions at one of the new plants.

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