Things are not getting any better for #Boeing.... having been required to produce a (new) safety regime in short order (previous arrangements being regarded as not fir for purpose by the FAA after the 737 problems of the last couple of years), they have now been hit with a $50mn fine for #security lapses around arms exporting regulations in China & Russia.
The Q. is whether Boeing is just unlucky of there are structural problems with how the corporation is managed?
My money's on the latter!
McDonnell Douglas bought Boeing with Boeing's own money, as the saying goes, and imported its traditional management issues.
What I'm more interested in is this: Boeing is a very heavily subsidised company, both at the state level and the federal level. As such, a fine is simply the US taxpayer moving money from one pocket to another. It is difficult to imagine a situation where the US allows Boeing to collapse. Does Boeing realise that this makes them functionally immune to fines? If so, what does that mean for future regulatory compliance and future safety standards?
@passenger @ChrisMayLA6 equity fines. Confiscation of dividends. Holding directors personally responsible. There are ways.
More something to campaign on at the moment I think.
When I think about it
For example:
If you're a water company and have been fined you can't issue ANY dividends until the problems are fixed to the satisfaction of a panel of inspectors. Unless you meet your obligations in full no dividends.
That would stop the vultures in their tracks.
... and also ban pay rises for the execs etc. etc.
@francis @ChrisMayLA6
There are definitely ways, it's not as if anything is actually impossible.
That said, do you think there's the political will to do it, especially from liberal governments?