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Boeing withdraws 30% pay rise offer to striking workers
(www.bbc.com)
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this post was submitted on 09 Oct 2024
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If the management is so shook about financial stability, it’s time to act like the adults they pretend they are, and curb executive pay and buybacks:
President and Chief Executive Officer David L. Calhoun - $32,770,519
CEO of Commercial Airplanes, Stanley A. Deal - $12,200,851
Chief Financial Officer Brian J. West - $11,910,638
CEO of Global Services Stephanie F. Pope - $9,537,503
CEO of Defense, Space & Security Theodore Colbert III - $8,963,171
In each case, easily 75% of their pay package is from stock options - their loyalty is to the line going up, not steady and organic growth by restoring a solid foundation to the company and investing in their (little) people.
Especially so in parallel with the $68 billion in stock buyback Boeing leadership has done since 2010. All done to boost stock price by reducing the float - $68 billion that wasn’t spent investing in the company’s future, safety standards, quality controls, the end product, or workforce.