Re:Boeing to plead guilty to criminal fraud charge stemming ...
by uejfiweun on Monday July 08, 2024 @02:34AM
(#40903066)
Was Calhoun really the problem? This company is one of those massive, glacial companies that have enormous inertia. Whatever changes in process led to all these disasters, it was something that started long before Calhoun's reign, I personally blame Jim McNerney.
Re:Boeing to plead guilty to criminal fraud charge stemming ...
by somenameforme on Monday July 08, 2024 @02:55AM
(#40903163)
One of the reasons we generally excuse extremely high levels of executive compensation is that when things go well, the executives take full credit for it. Does it not seem reasonable that they should also take full credit, in ways beyond words, when things do not go well? I'm very much opposed to the increasing trend of socializing costs and privatizing profits which I feel this is a sort of a spin on. 'Privatize success, socialize failure.'
Re:Boeing to plead guilty to criminal fraud charge stemming ...
by uejfiweun on Monday July 08, 2024 @12:44PM
(#40906955)
Fair enough. But I think that former executives should also be looked at, too. Otherwise, the incentive becomes to trash the company for short term profits and GTFO before shit hits the fan.
"In 2022, Calhoun (Boeing CEO) received $22.5 million from Boeing. Most of his 2022 compensation was in the form of estimated value of stock and option awards. He received the same $1.4 million salary as in 2021. Boeing announced in March 2023 that Calhoun would not receive a $7 million performance-based bonus, which had been tied to getting the new widebody 777X into service by the end of 2023. In February 2023, Boeing awarded Calhoun an incentive of about $5.29 million in restricted stock units to 'induce him to stay throughout the company's recovery.' In March 2023, Boeing announced Calhoun was being given shares worth $15 million that will vest in installments over three years."