Boeing buys off US government…

Boeing reached a $200 million settlement with U.S. securities regulators on Thursday to resolve an investigation into claims that the aircraft manufacturer and a former chief executive had deceived investors about problems with its 737 Max plane that led to two deadly crashes in 2018 and 2019.

The company’s chief executive at the time, Dennis A. Muilenburg, agreed to pay a $1 million fine as part of a separate settlement with the Securities and Exchange Commission, although the facts of the case were largely the same.

In the settlement agreement, the S.E.C. said Boeing and Mr. Muilenburg had misled investors after the first jet crashed in Indonesia in 2018 by suggesting that human error was to blame, and omitting the company’s own concerns with the plane’s flight control system. Boeing made further misleading statements about the safety of the planes after a second plane crashed in Ethiopia a few months later, the S.E.C. said.

“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair and truthful disclosures to the markets,” Gary Gensler, the S.E.C. chair, said in a statement. “The Boeing Company and its former C.E.O., Dennis Muilenburg, failed in this most basic obligation.”

People wonder how much a life is worth. Apparently, if Indonesian or Dutch, not too much.

I am surprised that those countries and the others who lost people in these crashes don’t sue Boeing as well.


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Dennis A. Muilenburg, agreed to pay a $1 million fine

For a “JC” in Shinyland, that’s walking around money, 5% of Muilenburg’s routine compensation. He went out the door with an extra $60 in loot and pension benefits, plus another $18M in stock.