Boeing's exquisite attention to detail in Executive Compensation

Boeing allowed top executives to establish “company offices” in strip malls near their homes, then gave them a $500,000 private jet benefit that allowed them to commute to the DC office on the shareholder’s dime. An investigation by the WSJ forced Boeing to disclose this chicanery in an SEC filing.

https://www.wsj.com/business/boeing-finds-executives-got-an-extra-500-000-in-perks-from-private-jets-9bebe829?st=dcscffvtiv7bz4y&reflink=desktopwebshare_permalink

I think Boeing needs to build an Executive office in Renton, WA overlooking the 737 production line, and force top officials to spend a minimum of 40 hrs/week there until Boeing’s engineering & manufacturing reputation regains it’s pre-Welchian luster. The FAA should be auditing executive time sheets for compliance.

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I think consumers world wide should cooperate in boycotting Boeing Aircraft, writing to Airlines demanding the Airlines use their market power to demand a total replacement/transformation of the executive staff and culture.

As an example for the other JC’s.

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FWIW, the old Boeing HQ was actually in Renton, conveniently located an equidistant 15 minute drive between the 737 production facilities and test flight and final assembly operations at Boeing field.

Phil Condit put his MBA training to work and concluded it would be a good idea to have the management teams in Chicago where it would be harder for the engineering teams in Seattle to annoy them with questions and problems.

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Phil Condit also had a PhD in Engineering from Tokyo University, (the first American to do so), as well as a Mechanical Engineering degree from Berkeley. But I suspect that once the McDonnell-Douglas crowd took over, you couldn’t move up in the organization without accepting the culture of cost-cutting and bean-counting at the cost of engineering quality and safety.

Fortune magazine reported that the primary reason that Boeing moved its headquarters to Chicago was Conduit’s love of the opera. (The Lyric Opera of Chicago was better fare than anything available in Seattle at the time.)

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