The Wire - July 8, 2024

//The Wire//1700Z July 8, 2024//
//ROUTINE//
//BLUF: FRANCE ELECTION RESULTS IN GAINS FOR FAR-LEFT PARTIES. BOEING PLEADS GUILTY REGARDING 2018-2019 CRASH INVESTIGATIONS.//
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-International Events-
France: Riots continue despite the latest election results. Yesterday’s snap election yielded big gains for extreme-Far-Left political parties as the New Popular Front (NFP) received the largest number of seats. In second place was Macron’s coalition, with Le Pen’s National Rally receiving the third highest number of seats.
-HomeFront-
Texas: Hurricane Beryl makes landfall in Texas as a Category 1 hurricane. Local reports indicate roughly 1.5 million people were without power in the Galveston area, however the power to many customers has been already restored.
USA: Boeing has accepted a plea deal to plead guilty to criminal charges stemming from a federal investigation into two fatal crashes in 2018 and 2019. These fatal crashes killed all passengers onboard, totaling 338 victims between the two incidents. Both incidents were investigated on the allegations of faulty materials being used in the construction of the aircraft, among many other safety issues.
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Analyst Comments: Due to legal precedence, Boeing (the company) will be convicted of felonies, but no current or former Boeing employee will be charged with any crime with regards to these crashes. Boeing will be fined $243.6 million. For perspective, Boeing reported a little over $77 billion in profits for 2023, generating roughly $209 million per day in revenue.
Analyst: S2A1
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