Is America great or what?? I could lose them $8 bil for a lousy $10 mil.
Capitalism in action. Most wealth is inherited or is a small group of people giving each other board memberships so they can pick CEOs like this prick. But they have tricked about a third of the population into thinking they might, maybe, possibly someday let them in the club so they get to keep on keeping on.
But he so deserves it. He must have been making minimum wage all this time. After all, no one who drove a great company into the ground could be making any more.
In fairness to Mullenberg, Boeing was doing fantastic under his leadership prior to the MAX crisis. Shares jumped by 3x in value. Boeing amassed a backlog of nearly half a trillion dollars’ worth of airplane orders. Sales went up. Boeing’s market value skyrocketed. Things were going great until they weren’t.
their space capsule had a major screw up last week so that might have been the final straw that pushed him out. But maybe they were going to ax him anyway.
Wherever did you get this bizarre and incorrect notion?
Cue the right wingers to say that if he hadn’t been paid so much money, things would have been worse, because salary defines competence.
Story of my life, right there.
In all fairness, he didn’t drive the* whole* company into the ground. He didn’t even drive the airplanes that were.
What… too soon?
Yes, cutting corners makes a whole lot of extra money–until it doesn’t. Why should I be fair to this prick who is responsible for murdering 300 people by cutting corners.
The idea that the there is a lot of cross pollination between the boards of the largest companies is bizarre and incorrect?
“Most wealth is” is a quantitative declaration. You wrote it, now back it up.
The real reason is simple: It’s a LOT easier to just pay a failed executive than try a rough fight for it that will damage the company further. For comparison, see Adam Neuman of WeWork. This is, right or wrong, fairly common with top spots of any large organization - though depending on the kind of organization the golden parachute may be made of favors, consulting contracts, or whatever.
Whenever my former company bought another company the president of the bought company would stay around for around 6 months and then disappear with no notice.
Business 101: Where you spend your next dollar is more important than where you spent your last. Only time will tell if the change stops the hemorrhaging, and if writing this check to have him removed rights the ship.
You used to work for Fat Tony LLC?!?
Rather like their MAX planes.
Will people want to fly on those MAX planes? Not sure I would .
I build those MAX planes. I would have no problem flying in one. They are the most scrutinized airplane ever built.
I doubt it was like here’s $30 million, now leave. It was probably, you’re fired and according to the terms of your contract, here’s your severance.