https://edition.cnn.com/2024/07/08/business/boeing-doj-criminal-charges/index.html

And Calhoun will leave Boeing with a huge severance package. This reward for failure is obscene.

 

Bill W

4 hours ago, BillW said:

And Calhoun will leave Boeing with a huge severance package. This reward for failure is obscene.

 

Bill W

David Calhoun salary is 30.000.000 USD a year.

They pay such money to guy who is driving Boeing into abyss...

Edited July 8, 20241 yr by Beardyman

Maybe my memory is fuzzy...wasn't David Calhoun hired to correct the bad PR of Dennis Muilenburg?

Although I agree that these CEO salaries are obscene, and being that they are the chiefs they should be held accountable for big mistakes, the problem is more complex than that.

America has had a problem for several decades where workers demand unreasonable wages, like $30+ an hour(probably 40 now) and expensive benefits or they go on strike.  The factory then shuts down and moves abroad.  This greed, on the part of both workers and companies, has gutted manufacturing in the USA to a shell of what it was just 40 years ago.  What remains is slowly falling apart because of corporate attitudes of profit at all costs, hence low quality materials, poor or non-existent quality control, and workers who don't really give a word not allowed yet demand higher and higher wages.  Americans are the highest paid workers in the world, but it's never enough.  I read articles about how someone making $100K a year is "struggling" and it makes my blood boil.  This just tells me how out of touch and spoiled most people in this country are.

So I'm not surprised any more when our govt. or major companies commit monumental screw-ups and then try to cover them up.  It's all part of the decline that is sadly inevitable.  When you're on top, you have a long way to fall.

Rant ended.

Dave

Dam those workers, we expect them to just about afford to feed themselves and be chained to the production line for 16 hours a day! How I miss the old days!

Jokes aside, as a non-US person - looking in, the salaries do seem a bit insane. Certainly in my field (Tech) - US based salaries are ludicrous (like someone my level and job type is $600K a year total comp). In my country, it’s approx $250K total comp (my peers at the same company, at the same level & team in the US are paid significantly more than me).

However, the cost of living is way, way higher than it was. Times aren’t the same as they were 3 decades ago. Competition for great talent is higher, certainly in Tech anyway.

Companies do need to provide workers with decent packages and benefits. It’s a 2 way street.

I know that you US folks have to pay through the nose for basic human needs like healthcare (ouch) - so I guess continual rises in those/similar areas pull salary growth with it.

 

 

Edited July 9, 20241 yr by flightskyc

It seems that the problems at Boeing still have no end in sight because the Federal Aviation Administration said on Monday it is requiring inspections of 2,600 Boeing (BA.N), opens new tab 737 airplanes because passenger oxygen masks could fail during an emergency due to a retention strap.

https://www.reuters.com/business/aerospace-defense/faa-orders-inspections-2600-boeing-737-airplanes-over-oxygen-mask-issue-2024-07-08/

On 7/8/2024 at 2:22 PM, BillW said:

This reward for failure is obscene.

 

 

its corporate america, what did you expect

5 hours ago, fluffyflops said:

its corporate america, what did you expect

I expect it everytime one of these people bail out. It just never is acceptable. We have too many employment lawyers. No cost seems too high to avoid going to court.

 

Bill W