Boeing shareholders approved a $33M pay package for CEO Dave Calhoun, despite the company's major safety problems — which Calhoun is testifying about before the Senate today.
Calhoun is resigning by year's end. Guess what he gets then?
@rbreich "Oh my god" came out of my mouth, in a whisper, when I read this post. The capitalist excess keeps outdoing itself at every turn. Surely the whole system is speeding toward a cataclysm. Thank you for relentlessly sounding the alarm, Dr. Reich.
The outgoing Boeing CEO, in charge of a company failing, owing to having put financial performance ahead of passenger and aircraft safety, is getting a combined $78 million to say goodbye this year. And, presumably, to keep shtum.
I can see why he wants it. But WTF would Boeing's board be so happy to give it to him? Unregulated Capitalism, like fish left on the picnic table on a hot July day, rots from the head.
@rbreich It's funny how CEOs get so much money for doing a bad job but the rest of us would be in financial ruin if we did something similar in our jobs.