Boeing chairman and CEO James McNerney (in photo) talks about the importance of ethical behavior to a company’s bottom line. So the Chicago Tribune recounted in an editorial last week how much unethical behavior has cost Boeing in recent years. Included in that calculation were Boeing’s tentative agreement to pay $615 million to settle two federal criminal investigations; the four-month prison sentence for Michael Sears, Boeing’s former chief financial officer; the resignations of former CEO Phil Condit and his successor, Harry Stonecipher; and Boeing being banned for a year from bidding on $1 billion worth of government rocket-launch contracts. “The new leadership vows that those days are over at Boeing,” the editorial said, noting that the company has “learned winning at any cost can carry a very high price.”
Posted by Phillip Brownlee
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18 Comments
I think we should just give the big corporations like Boeing more tax cuts so they can stimulate the economy some more.
And if we implement MORE bush tax cuts, their executives could take home more pay and stimulate the economy even more.
Laffer must be laughing all the way to the bank.
If they don’t get the tanker contract, Boeing Military in Wichita is really going to hurt for awhile.
But joe, if we gave them more tax cuts, and gave their executives tax cuts on their measly pay, wouldnt that stimulate the economy enough to make up for all their unpaid taxes?
I mean, give them enough tax breaks, and they could employ so many people they wouldnt NEED tanker todd to tank their tanker contracts, would they?
Very true Joe. Too bad they and their Congressman relied on corrupt practices in their efforts to get the pork.
I don’t know bout executives getting a tax cut, but the Boeing company shouldn’t have to pay income tax. Actually all businesses shouldn’t have to pay income tax.
Joe – if they are truly reinvesting their profits then they pretty much won’t pay income taxes anyway. Lines 13-27 of Form 1120 will take care of that; DPAD adds another benefit.
Ben, surely you are not suggesting that they should have worked hard and played by the rules to get that contract?
Heheh. Not in bush’s america. Just ask mr. safavian about their procurement practices at the white house.
You know him, the one under indictment? Oh, but there are so many friends of this administration under indictment or threat of indictment, I bet you need a scorecard to keep up with the players.
Too bad tanker todd isnt one of them. Then boeing COULD have gotten the contract. WE COULD have stimulated the economy by giving them and their highly paid exec’s more tax breaks.
Now whatever will we do? Give them a tax refund? You first joe.
Ben! They could reinvest profits, but the owners want to see profits and the owners are the shareholders. Dividends and captial gains on their stock.
Thank goodness Congress extended the dividend and capital gains tax rate and kept it from reverting back to its higher rate. Although I believe we shouldn’t have any taxes levied on dividend and captial gain income.
Joe – I’d prefer to see dividends paid made deductable but then taxable as income when received. That way, for those of us with modest incomes the benefit of dividends would increase significantly.
Did you ever notice that when the company bigwigs get caught in something unethical, they make all the grunts take ethics training?
Farm Girl, your lack of knowledge on yet another topic you spout off on is amazing.The loss of this contract had nothing to do with Tiahrt (he’s the one who kept it alive) but you Libs hero, John McCain, plus the idiots at Boeing who can’t manage their way out of a paper bag. So be a good girl and shaddap!
MCCAIN DEPLORES BOEING TANKER SCHEMEFor Immediate ReleaseFriday, May 23, 2003Washington, DC – Senator John McCain issued the following statement today on the Boeing Tanker deal:
“I am extremely disappointed that the Department of Defense has approved the lease of Boeing 767 aircraft for use as aerial tankers, a profligate waste of federal revenues. This is a great deal for the Boeing Company that I’m sure is the envy of corporate lobbyists from one end of K Street to the other. But it’s a lousy deal for the Air Force and for the American taxpayer.
WAH WAH WAH BLOW-JOB!
Tanker Todd was up to his ears in Boeing’s corruption. McCain simply helped expose the corruption.
Prove it. You made the charge. Back it up.
KEEP TELLING YOURSELF THAT BLOWJOB!
HAHAHAHAHAHAHA!!!!!!!!!!
I HOPE TANKER TODD GOES DOWN WITH THEM!
Chairman of Senate Armed Services Committee plans hearings on BoeingDENNIS CONRADAssociated PressWASHINGTON – A senator said Tuesday he plans hearings on the defense-contracting practices that led Boeing Co. to agree to pay $615 million to end a Justice Department investigation.
Sen. John Warner, R-Va., said his Armed Services Committee would not limit itself to Chicago-based Boeing – the nation’s second-largest defense contractor – and would look into other aerospace contracts with the government.
I don’t mean to be subersive and change subjects, but the May 19 Open Thread is the #1 blog this week. People are still posting. WE, give the people a semi-weekly Open Thread!
BEFORE TANKER TOOD WENT TO CONGRESS HE WAS IN THE GOVERNMENT PROCUREMENT OFFICE AT BOEING. JUST A LITTLE REVOLVING DOOR FOR CORRUPTION!
Just as I suspected…3rd grade insults combined with no facts. Typical liberal argument. Predictable. Sad and pathetic. But predictable.
It’s hard to get the documents that show just which personel in the procurement office have been involved over the years. However, it has been shown that the Boeing system has been corrupt (witness Druyen, Sears, et.al.) in its dealing with the military. And, we know that Tiahrt’s job was in that office.
So, the term ‘revolving door’ does seem appropriate.
Conservative Senator McCain is NOT the source of Boeing’s problems. Boeing is. Conservative Senator Warner will likely reveal more of the Boeing mess with his hearings.