Re:Boeing workers vote to strike in resounding defeat for tr...
by sofixa on Friday September 13, 2024 @02:14AM
(#41528451)
CEO pay is relevant because Boeing haven't had a competent CEO in decades. Yet all of them were compensated handsomely for making pretty obviously bad choices (e.g. the 787 development was done McDonnell Douglas style, pushing most of the costs and risk to suppliers, and was highly problematic) or downright killing people through negligence.
> I am also not sure why the stock buybacks are worth mentioning
Because Boeing is a very capital intensive business that is currently in mountains of expensive debt, with multiple projects delayed with years, and a recovery time of 5 years minimum. The idiots in charge wasted billions on the wrong things, and now the company is a very bad situation.
Re:Boeing workers vote to strike in resounding defeat for tr...
by stevage on Friday September 13, 2024 @02:03AM
(#41528398)
High CEO pay is a symptom of poor board control, not a direct cause of poor performce.
Re:Boeing workers vote to strike in resounding defeat for tr...
by AnthonyMouse on Friday September 13, 2024 @02:56AM
(#41528682)
CEO pay generally has a relationship to company size, and Boeing is pretty big. It would be hard to argue their CEO is overpaid if they paid the CEO that much and the CEO did a good job. Implying the problem is not how much they were paid but rather the quality of the work.
Re:Boeing workers vote to strike in resounding defeat for tr...
by tempfile on Friday September 13, 2024 @05:25AM
(#41529503)
> Implying the problem is not how much they were paid but rather the quality of the work.
Aren't those identical? If you do a bad job, we could have got the same bad job from someone else, who we could have paid less...
Re:Boeing workers vote to strike in resounding defeat for tr...
by AnthonyMouse on Sunday September 15, 2024 @02:46PM
(#41549422)
No, because the CEO who is paid $300/year and then likewise bankrupts the multi-billion dollar company is to a first order approximation the same amount of bad and what you actually need is the CEO who does a good job even if you have to pay them millions of dollars.
Re:Boeing workers vote to strike in resounding defeat for tr...
by ywvcbk on Friday September 13, 2024 @06:51AM
(#41529938)
They did a great job, though..
From the perspective of other board members, upper management and the shareholders at the time.
Re:Boeing workers vote to strike in resounding defeat for tr...
by bluGill on Friday September 13, 2024 @09:17AM
(#41530983)
There is the real problem - we cannot evaluate how a CEO did today for another 10 years. Their job is to figure out where the company needs to be in 10 years and then get them there.
Re:Boeing workers vote to strike in resounding defeat for tr...
by triceratops on Friday September 13, 2024 @10:06AM
(#41531405)
It's relevant because the company's performance has been a dog turd. They clearly overpaid for a low-performer.
I am also not sure why the stock buybacks are worth mentioning. There are many reasons why a buyback may be the right thing for a company to do. I am aware that sometimes it can be a manipulation of executive compensation by artificially raising the stock price (and may have been so here). And obviously I don’t support that. But I feel like the practice of buying back is attacked by many without adequate understanding of what it is for and how it can be financially good for the company, helping support future investments.