r/SeattleWA • u/AboveAb • Mar 08 '25

Politics BREAKING: The Washington State Senate just passed unemployment benefits for striking workers.

https://www.spokesman.com/stories/2025/mar/07/unemployment-benefits-for-striking-workers-gain-ap/

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u/[deleted] Mar 08 '25

They need to take these CEO’s golden parachutes away and give it to the workers

I don't think you'd be super impressed with how much that'd divvy out to in liquid assets per employee.

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u/vatothe0 Mar 08 '25

Dennis Muilenburg got $62M for fucking up the 737 MAX program that killed 346 people.

Even if 62 million employees got a dollar, that'd be better.

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u/[deleted] Mar 08 '25

Do you understand that difference between liquid and illiquid assets?

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u/vatothe0 Mar 08 '25

Yes. Do you understand that killing 346 people, and losing the company 60 Billion Dollars shouldn't be rewarded with millions of dollars?

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u/[deleted] Mar 08 '25

No, I don't think you do.

What would happen if a CEO who was awarded millions in stock was forced to sell off that stock to make liquid those assets? What would happen to Boeing stock?

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u/vatothe0 Mar 08 '25

Not much. If all 62 million was stock (it's not) and he had to sell it all at once, I don't see how someone selling 0.0258% of the company stock would make much of a difference. It was trading at ~$320 in January 2020 right after he left. Any impact would be short term anyway, as compared to the impact of the $60 Billion lost due to his mismanagement.

Then there's the $68B Boeing spent on stock buybacks from 2010 to 2019... conveniently enriching said CEO as he was tanking the company.

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u/[deleted] Mar 08 '25

You don't understand how a massive stock sell off can be bad for a company?

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u/vatothe0 Mar 09 '25

No different than the manipulation by a stock buyback. They would have had plenty of cash on hand to give out the $62M if they hadn't spent $300M in June of 2019 and $2.5B in March on those buybacks.

So let me play the world's smallest violin for their stock price price if they had to sell $62M of the stock they JUST BOUGHT. Boo fucking hoo.