ANN CROTTY: Delay the executive payouts
Executives take credit for the good but accept no blame for the bad
Boeing CEO Dennis Muilenburg’s $62m departure package could be boosted to $80m by share-based payments. For a bit of perspective, the $80m is 60% more than the $50m financial assistance fund Boeing has set up to pay out the families of the 346 people killed in two Boeing crashes. Each of those families is set to get $144,500.
It’s tempting to suggest that the fact that the deaths did not occur in US airspace or involve Americans has allowed Boeing to be more cavalier about the treatment of the victims, but it would not be accurate. Working-class Americans made up a large chunk of the victims of the 2008 global financial crisis, caused by reckless trading by major US banks. Those victims were also treated in a cavalier manner in comparison to the bank executives, most of whom suffered little fallout and were soon back in line for their executive gravy train payouts.