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Boeing CEO: It’s Good To Be The Crony Capitalist King




|| By FITSNEWS || Talk about bad timing …

Just as a major unionization battle begins in South Carolina over Boeing’s much-maligned, heavily subsidized aircraft manufacturing facility in North Charleston – news out of Seattle, Washington reveals the extent to which the company’s top executives are making bank off their crony capitalism.

Boeing CEO Jim McNerney – whose company has received more than $1 billion in taxpayer-funded incentives to build their Lowcountry facility – took home a whopping $29 million in executive compensation in 2014, according to The Wall Street Journal.  That included $14 million in bonus payments – for a total increase of 24 percent from the previous year.

Wow …

So … did your paycheck go up by 24 percent last year?  Um, no.  It did not.  And one big reason for that is your tax dollars keep getting shoveled into McNerney’s pockets.  Oh, and the pockets of Boeing Commercial Airlines CEO Ray Conner – who made $16 million in 2014, including a $1.3 million bonus.

Crazy …

Also worth noting?  Boeing employees saw their bonuses cut in 2014 because the company failed to hit certain financial benchmarks.

Amazing …

Boeing – the undisputed king of America’s crony capitalists – receives billions of dollars in incentives from state and local governments each year.  Not only that, the company benefits from the notorious U.S. Export-Import Bank (a.k.a. “Boeing’s Bank“) which puts American companies at a competitive disadvantage so that foreign airlines can get discounts on Boeing jets.

Which raises your travel costs …

Don’t get us wrong: We’re not supporting the unions in their fight against Boeing.  Unions are cancers – and they absolutely do not have the best interests of workers at heart.

But still … Boeing’s leaders couldn’t be more tone-deaf if they tried.  And the Palmetto politicians who suck up to them (forking over truckloads of your money in the process) could not be any more deserving of contempt.

We’ve said it before and we’ll say it again: “A pox on both their houses.”