The Boeing kleptocracy
Immediately following the November 13 rejection, Boeing began soliciting “bids” from other states and localities for the 777X work. A couple of newspapers got to see what Boeing was demanding in its request for proposals. Pretty outrageous: free land, a building for free or low cost, worker training, lowered taxes… the list went on
To the best of my knowledge, no Washington state politician has spoken out against this. To the best of my knowledge, NO politician has spoken out against this.
Boeing did this for one simple reason, because they can. There is no other reason for this, certainly not maximizing shareholder value. I certainly do not think it is ok to steal people's pensions in order to maximize shareholder value, I simply reject that Boeing was motivated by concerns over profitability.
Within the last six months Boeing insiders have dumped 119.800 shares of Boeing stock. Clearly they have zero confidence in their business model and management. CEO Jim McNerney dumped 282,037 shares this past August. This is not management, it is asset stripping.