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Nikki Haley Resigns from Boeing Board in Protest of $60 Billion Bailout Request

Nikki Haley Resigns from Boeing Board in Protest of $60 Billion Bailout Request

“I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position. I have long held strong convictions that this is not the role of government.”

Former U.N Ambassador and South Carolina Governor Nikki Haley has resigned form the Board of Directors of Boeing, in protest of Boeing’s request for a $60 billion federal government bailout.

The following statement by Haley, dated March 16, 2020, was filed with the Securities and Exchange Commission as part of a Boeing filing:

March 16, 2020

To: Dave Calhoun, CEO
Larry Kellner, Chairman of the Board
Members of the Board

I have had the pleasure of working with Boeing for almost ten years now. As South Carolina Governor I came to know the quality of the company, but more importantly, the excellence of the Boeing team and workforce. When I was asked to join the Board of Directors, there was no better team I could think of being a part of.

As Boeing has gone through the difficulties of the MAX, I have appreciated the humility and transparency shown by the team to make sure that when the MAX is back in the air, it will be the safest, strongest plane ever flown.

As we encounter the Covid-19 crisis, Boeing, along with many other companies, face another major set of challenges. I want to be part of helping the company as it pushes through it. However, the board and executive team are going in a direction I cannot support.

While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses. I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position. I have long held strong convictions that this is not the role of government.

I strongly believe that when one is part of a team, and one cannot in good faith support the direction of the team, then the proper thing to do is to resign. As such, I hereby resign my position from the Boeing Board.

I hope you all know that I will continue to be a strong supporter of Boeing and its workforce. All of you have taught me so much over the past year. Serving with each and every one of you has been a privilege. I value the friendships I have made with all of you.

If I can ever be of help or service to the Boeing team in the future, please don’t hesitate to contact me.

My very best,

/s/ Nikki R. Haley

Nikki R. Haley

Boeing is in a different, and weaker, position than other companies and industries seeking federal assistance. Boeing already was suffering from the safety failures of its 737 Max 8 airplane. Boeing also spent over $40 billion on stock buybacks:

Boeing’s free cash flow for 10 years totaled $58.37 billion, while the company spent $43.44 billion, or 74% of free cash flow, on stock repurchases.

Yet Boeing also is a major employer and defense contractor.

Compare that to the airlines and hotels, which were doing well but had their revenue stream stopped cold by the federal government. Those companies, having had their business models destroyed by the federal government arguably have a stronger claim to federal help.

Regardless, this is a bold move by Haley.

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Comments

I was going through a tough time not long ago. Boeing never offered to give me a free jet liner.

God bless Mrs. Haley! For 2024, I may have to think long and hard over what I hope will be a good, strong, conservative GOP field.

Did she suggest they SELL more stock and complain about the even more billions they wasted in stock buybacks?
Well, I don’t know the problem, they outsourced their engineering to India, and gave their designs to China – just build them there.

Nikki Haley doens’t like the swamp anymore? Live by the swamp, die by the swamp!

    As Tulsi Gabbard is the best of the worst, Haley is the worst of the best.

    Gabbard, a biden supporter, is COMPLETELY useless to any of us. She never will be. (Man, did she have a chance to lead, but what a blown opportunity: right into the bosom of corruption and treason.)

    Haley will fold like a cheap suit in the face of what PDJT is facing. But to be fair to her, so far it only seems the likes of Pompeo and Cotton and Nunes have the Right Stuff.

Did she suggest they SELL more stock and complain about the even more billions they wasted in stock buybacks?
Well, I don’t know the problem, they outsourced their engineering to India, and gave their designs to China – just build them there.

Nikki Haley doens’t like the swamp anymore? Live by the swamp, die by the swamp!

Katy L. Stamper | March 19, 2020 at 8:14 pm

Haley doesn’t really identify as American. Our history can go in the waste basket as far as she’s concerned:

https://amgreatness.com/2020/03/12/nikki-haley-for-veep-no-way/

    notamemberofanyorganizedpolicital in reply to Katy L. Stamper. | March 19, 2020 at 8:15 pm

    Those who destroy history are worst than the dictators in Orwell’s 1984.

    notamemberofanyorganizedpolicital in reply to Katy L. Stamper. | March 19, 2020 at 8:44 pm

    Have you seen this?

    Rumor has it President Trump is considering swapping Vice President Mike Pence with former American ambassador to the United Nations Nikki Haley.

    “This is not a prediction,” said CNN political analyst Paul Begala, “it’s a certainty.” Haley would be a great choice—if Trump intends to utterly abandon the agenda that got him elected.

    There is a reason the rabidly anti-Trump Bill Kristol floated Haley as primary challenger to Trump in 2020; warhawks of a feather flock together.

    Pitting Haley against Trump would mean certain political suicide for her, but seeding her in the White House would, in a Machiavellian twist, boost her profile and afford her countless opportunities to subvert the America First agenda. From immigration to foreign policy, Haley has been no friend to MAGA.

    While speaking officially on behalf of the GOP in response to President Obama’s State of the Union in January 2016, Haley had her own “basket of deplorables” moment. She claimed Trump’s supporters had been seduced by “the siren call of the angriest voices”—that is, that they had no legitimate grievances and were merely swayed by Trump’s supposedly baseless hate-mongering because they themselves are hateful.

    https://amgreatness.com/2020/03/12/nikki-haley-for-veep-no-way/

    I can’t stand her. One bit.

    100% Katy. Haley is a snake.

notamemberofanyorganizedpolicital | March 19, 2020 at 8:15 pm

I want Nikki to address this issue.

Corporate/ChiCom Media In Full China Propaganda Mode Now

Sean Davis

Live look at the entire corrupt corporate media establishment right now.

https://twitter.com/seanmdav/status/1240744733107990534

http://acecomments.mu.nu/?post=386419

Bloomberg: Coronavirus Is Making China’s Model Look Better and Better. The democratic world order survived the crash of 2008. It may not be so fortunate this time.

They mean China’s authoritarian communist “model” looks better and better.

Bloomberg and Hal Brands weren’t the only corporate shills pretending that China’s routine sale of medical equipment (to countries they infected) was some kind of example of big-hearted international gallantry. The New York Times also decided to portray a sale as some kind of humanitarian aid.

Why?

Why did they both make this same odd choice?

Then they claim that China’s disappearing of people who told the world about the disease was just “clumsy” public relations work…

Lots more good reading there.

I might add that Boeing is in trouble because of its own mismanagement and corporate hubris. They do not — no way, no how — deserve one red ¢ from the American taxpayer.

The senior management at Boeing screwed the pooch big time. Let the top tier of execs take a salary of $100k per year, max., no bonus. That’s more than they deserve.

W-W-W-what?
A government type with integrity? Either that or she’s planning a run for another office
Or possibly, could it be, both?!

Boeing senior management made the 737 max under the watchful eye of the Board. Haley is Lady Macbeth. Out damned spot.

And how much did Nikki Haley make with Boeing? She F’ed South Carolina.

And how much did Nikki Haley make with Boeing? She F’ed South Carolina.

And how much did Nikki Haley make with Boeing? She F’ed South Carolina.

And how much did Nikki Haley make with Boeing? She F’ed South Carolina.

And how much did Nikki Haley make with Boeing? She F’ed South Carolina.

Nikki Haley /s

Comanche Voter | March 19, 2020 at 10:05 pm

Y’all don’t like a strong Republican woman?

Ms. Haley stood up and kicked buns for the USA in the United Nations, the playpen on the East River.

    My2centshere in reply to Comanche Voter. | March 19, 2020 at 10:24 pm

    On other things she’s Mitt in a skirt.

      Actually, she’s tougher and smarter.

      Mittens is a putz as politics goes. Remember: he was a one-term governor, and he lost a shoe-in election to a moron calling himself ‘barack hussein obama’ because a fat slob named “I Eat Too Much Candy” Crowley bullied mittens on tv.

        Well, what I think My2centsHere meant is that Haley is a squishy, progressive RINO just like Mitt. No, she didn’t change her party every time the calendar turned, or leap from state to state to meet polling goals among the uninformed voters of the given state, but she’s a pandering hag all the same.

        She is very Mitt Romney. Very smarmy and poll-tested, Haley is “the” perfect GOP candidate on paper. If your paper requires a woman, a minority, and a progressive.

        Haley is a progressive Republican: She backs erasing our history in the name of social justice, she backs climate alarmism, and she backs a variety of “gun control” measures.

        I cannot abide her, and I am pretty certain that Trump is not fool enough to dump Pence for this squishy horror show.

Been there. Done that.

You always roll your eyes,
When you recognize,
Bulls#!t!
More and more it seems,
You fight the urge to scream,
“I quit”!
Though you try to hang on,
Your patience is gone.

You’ve lost that Boeing feeling,
Whoa that Boeing feeling.
You’ve lost that Boeing feeling,
Now it’s gone, gone, gone,
Whoa, whoa.

Boeing is already getting a hand out see the KC45(?), it was taylor made for Boeing

In a way, Boing is like Tesla – without bailouts, they’d be history.

Gov Inslee is rolling Trump.
Boeing is rolling Inslee AND Trump.

WHEN Boeing starts handing out Pink Slips, and they will, Inslee is screwed.

Boeing will get what they want.

    MrE in reply to Andy. | March 20, 2020 at 2:21 am

    Are they still called WARN notices? Still giving them to the IAM guys on the way out the door on their last day so they don’t urinate on airplane skins?

    Barry in reply to Andy. | March 20, 2020 at 9:53 am

    Boeing is a lot more important than the governor.

      Andy in reply to Barry. | March 20, 2020 at 12:15 pm

      Oh they’re going to force the legislature’s hand on some sweetness to avert pink slips.

      Word is they’ve had guys pretty much standing around for a while already with the theory that it’s cheaper than rehiring later.

I actually have mixed feelings about Haley. She’s done the right thing for Americans many times and, on principle, she is right here (whether you like her other decisions or not). Bailouts are an Obama government tactic, and that’s why Trump is drawing all of this praise from strange bedfellows. That should be a huge red flag. Trump’s reasons are wholly different (protect his economic legacy amidst a fickle public reaction), but the ends do not justify the means.

No, her ideology does not always fit mine, and I will shake my head in disgust at times. However, I’ve had the same thing with Graham, McConnell, et al. and I’d still vote for them over non-primary opposition if I lived in their districts.

And Boeing is not even an airline…why are they more sensitive to the economic downturn than say AA, SWA, Delta, etc.?

    Massinsanity in reply to healthguyfsu. | March 20, 2020 at 11:05 am

    Ummm… Because they are one of 2 companies world wide that supply the vast majority of airplanes to airlines around the world. When airlines stop flying what do you think happens to orders for new airplanes?

    Boeing is in trouble because of the gross mismanagement of Dennis Muilenburg a bean counter who oversaw the 737MAX debacle and the decision to borrow money to buy back stock leaving the company with a major debt problem.

    The board is also to blame for allowing Muilenburg to destroy the company. Haley was on the board so she is complicit.

    It’s hard to see this move as anything pure grandstanding. Show me where you voted against the buybacks Ms Haley and I might change my opinion.

OleDirtyBarrister | March 20, 2020 at 11:32 am

She jumped on that easy money when she left her post to get ready for her next political step. She did not hesitate to ponder why Boeing would want her on the board and she had no reluctance in participating in the military industrial complex and making her contacts and rolodex available for the right price (board member compensation).

Now that Boeing is looking like a failure, she is tacking and trying to distance herself before it became a liability on her political resume.

She really has not done the that much or accomplished much, she is just an opportunist.

    Ohio Historian in reply to OleDirtyBarrister. | March 22, 2020 at 4:52 pm

    I didn’t realize that a member of the Board of Directors was “easy money” unless it was to Barisma’s board. I guess that you have her confused with a coke-snortin’ opportunist named Hunter Biden. You got evidence to back up your snark?

I’m sorry I can’t help Ms. Haley in 2024.

But I am already committed to Don, Jr.

Barry Soetoro | March 22, 2020 at 3:34 pm

Looks like blatant virtue signaling to me.

Ohio Historian | March 22, 2020 at 4:49 pm

Good job, Nikki. “To big to fail” needs to stop. Otherwise, we will wind up with an endless parade of companies asking for crony capitalism.

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