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 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?
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.
making effective passenger aircraft simply isn’t economically viable. Both boeing and airbus as well as their competitors in Embraer and whatever the chinese have are all subsidized by their respective governments.
For an insight on the economics and process I liked this article https://www.construction-physics.com/p/a-cycle-of-misery-the-business-of