Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Earlier, Williams delivered a speech at the annual meeting of the Central Bank Research Association in which he said, "It's better to take preventative measures than to wait...The Fedread more
Stocks in Asia Pacific traded higher on Friday morning, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease monetary policy...Asia Marketsread more
A man suspected of torching Kyoto Animation reportedly doused the studio's entrance with what appeared to be petrol and set it ablaze on Thursday.Asia Newsread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant "send her back" at a rally Wednesday in North...Politicsread more
See which stocks are posting big moves after the bell on July 18.Market Insiderread more
House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
As Flint, Michigan's water disaster continues, a blueprint to fix the city's lead contamination is being floated by the mayor of the state's capital city.
A decade ago, Lansing was able to avoid a toxic tap water disaster in their city by making a decision to initiate a massive lead pipe removal program. It's a solution the city's mayor is advocating to Flint, in order to alleviate a problem that's morphed into a national scandal.
"This is a crisis of epic proportions," Lansing Mayor Virgil "Virg" Bernero told CNBC's "On the Money" in a recent interview. "Those lead pipes have got to go."
Back in 2004, Lansing residents began voicing complaints about their water. That led the city to act decisively, Bernero told CNBC. The Democrat has been Lansing's mayor since 2006.
"Just like in Flint, some of the citizens were the canary in the mine. They brought it to our attention and we started looking into it," he added.
Bernero says officials in Lansing "dug into" the city's water safety. "We expected direct answers and we expected positive answers and we didn't get them." Instead, Bernero said, they got "rather vague" answers about lead levels. "We looked into the testing procedures, and we were not convinced the water was safe."
What followed in Lansing was a 12 year project to remove about 14,000 lead water service lines, at a cost of $42 million dollars, and replace them with copper lines. The money to replace the pipes came from a capital improvement fund paid for by the utilities' customers through their water rates.
The program is scheduled to be completed next year.
"We started asking about lead, and what is the safe level of lead, and there isn't one, especially for kids," the mayor said. "So we said the prudent thing to do is to improve the testing and start getting these lead pipes out. Get the lead out."
Now Lansing is trying to help Flint follow their lead to "get the lead out," Bernero said. "Because we've done it in Lansing, we've sent our crews over to Flint."
He said that, along with Flint Mayor Karen Weaver, they've designed a lead pipe replacement plan "where we think it can be done in a year, with about 30 crews and $55 million dollars." He added that pipe replacement could cost as little as "3 to 4 thousand dollars a home."
Bernero explains that's because instead of digging a huge trench from the street to each home, "we perfected a system of threading instead of trenching." That involves digging a hole by a house, then pulling up the lead pipes as copper pipe is pulled through.
"You thread it through like you would thread a needle. And it cut the time and money in half to replace these pipes," he said.
Last week, the Michigan attorney general announced criminal charges against two state environmental officials and the city employee who ran Flint's water treatment plant. The three are accused of allegedly misleading regulators about the lead crisis.
Separately, Governor Rick Snyder proposed the state enact tougher lead-testing rules than the federal EPA standard. The Republican also pledged he would drink Flint tap water daily for the next 30 days.
Bernero, however, told CNBC he was not impressed. "The Governor says 'I'll drink the water for a month. I'll prove its safe.' [but] he'll drink filtered water," Bernero said. "He wants to do a publicity stunt and these folks (in Flint) are out there living with it, day in and day out."
In 2010, Bernero was the Democratic nominee for governor, but lost the election in 2010 to Snyder.
Is he planning of challenging Snyder again? "I am not" he told CNBC, "and I have been meticulous about not attacking the Governor."
Still, Bernero did say for any lead pipe removal plan to get started in Flint, "There has to be an element of urgency that should be led by the Governor."
On the Money airs on CNBC Saturday at 5:30 am ET, or check listings for air times in local markets.