RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Clueless: Boeing doesn't deserve a bailout Thu Mar 26, 2020 11:43 pm | |
| If you want an example of how keeping Wall Street happy can undermine your business, look at Boeing. And if you're also interested in seeing how already-well-paid corporate directors can get a raise while presiding over a horrendous mess that helped lead a company to need a federal bailout, you can look at how Boeing's directors gave themselves a $US20,000 ($33,000) raise (to $US366,000) last year from what they got in 2018.
And finally, if you want to see an act of utter cluelessness given what's going on in the US, look at how Boeing sent more than $US1 billion ($1.6 billion) of dividend checks to its shareholders three weeks ago, as the COVID-19 crisis and corporate bailout requests were both spreading.
It wouldn't have been easy or comfortable for Boeing to revoke or delay the dividend, which had been declared in December before COVID-19 became a household term. But the company didn't even try.
https://www.smh.com.au/business/companies/clueless-why-boeing-doesn-t-deserve-a-bailout-20200327-p54ee3.html |
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