Boeing CEO Dave Calhoun was awarded a giant stock bonus on top of his more-than-a-million-dollar salary last year, despite overseeing a company that has been plagued by chronic losses and safety problems.
Calhoun’s total compensation in 2023 was $32.8 million, a 45% increase from the $22.6 million he received for 2022. And it could have been a lot more: He declined to accept his annual incentive bonus of $2,800,000 – a request the board said he made after part of a Boeing 737 Max plane blew off the side of an Alaska Airlines flight in January, kicking off a series of federal investigations, a temporary grounding, executive ousters and another embarrassing public relations blunder for the company.
I don’t understand why Boeing isn’t seen as a monopoly. If they had competition in the market they would have to at least up their game a little.
They do have competition, it’s called Airbus.
Sure, but Airbus isn’t an American company and that means most of the planes flying where I live are Boeing made. I couldn’t find any way to ride on an Airbus on my most recent flight. I personally don’t think that should matter, but it clearly does for American owned airlines.
That still only leaves 2 companies on the planet that make passenger planes. Not much competition.
They are a government and defense contractor.
That’s what I’m getting at. Why is the only passenger plane manufacturer in the US also one of the biggest defense contractors?