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Boeing - Poster child for cutthroat corporate greed in a bad economy
oregonblitzkrieg
Member Posts: 15,288
- In the last decade Boeing has accumulated $35 billion in profit. It has received $2 billion in federal tax rebates from 2003 to 2012, along with subsidies from WA state.
- Boeing's board of directors approved a 50% increase in Boeing stock dividends and a $10 billion stock buyback to enrich investors and executives that get paid in Boeing shares.
- At the same time they have forced their workers to take $1 billion in cuts from promised pay increases, and in the company's contribution to their retirement plans.
- Despite WA state offering 8.7 billion dollars in tax concessions to keep their greedy asses in the state, Boeing invited other states to bid on hosting the production of their new aircraft. It intended to reward the state with the lowest tax rate and the lowest worker benefits and wages.
- Boeing's excuse is that they have to "cut costs to meet aggressive international competition"
Boeing's only competition is Airbus, based in France and Germany.
- Apparently Airbus cares about maintaining a high quality workforce and treating its workers generously.
- German companies have raised the pay and benefits of their workers 5 times faster than US companies, while keeping their high tech jobs at home. The result is that 21% of Germany's workforce is in manufacturing compared to a measly 9% in the US. The result is that Germany has achieved $2 billion in export surpluses while the US has suffered $6 billion in trade deficits. Pretty fucking pathetic.
Fuck United, fly Lufthansa.
- Boeing's board of directors approved a 50% increase in Boeing stock dividends and a $10 billion stock buyback to enrich investors and executives that get paid in Boeing shares.
- At the same time they have forced their workers to take $1 billion in cuts from promised pay increases, and in the company's contribution to their retirement plans.
- Despite WA state offering 8.7 billion dollars in tax concessions to keep their greedy asses in the state, Boeing invited other states to bid on hosting the production of their new aircraft. It intended to reward the state with the lowest tax rate and the lowest worker benefits and wages.
- Boeing's excuse is that they have to "cut costs to meet aggressive international competition"
Boeing's only competition is Airbus, based in France and Germany.
- Apparently Airbus cares about maintaining a high quality workforce and treating its workers generously.
- German companies have raised the pay and benefits of their workers 5 times faster than US companies, while keeping their high tech jobs at home. The result is that 21% of Germany's workforce is in manufacturing compared to a measly 9% in the US. The result is that Germany has achieved $2 billion in export surpluses while the US has suffered $6 billion in trade deficits. Pretty fucking pathetic.
Fuck United, fly Lufthansa.
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