A top Republican hoped to win big off a coronavirus scandal.
She’ll go to any lengths to protect her presidential run.
A top Republican quit her job. Their huge government demand crossed a line.
The Chinese coronavirus is placing a huge strain on every industry related to travel and leisure.
This doesn’t just include restaurants, airlines and hospitality, but also the companies that supply them.
Boeing isn’t in good shape.
Boeing stock has dropped from $317 a month ago to $95 dollars.
The company has bought back $35 billion of shares and paid $15 billion in dividends over the last five years.
With the airline industry in shambles, many of them aren’t going to be buying new airplanes any time soon.
Boeing is a huge manufacturer that employs 161,100 people.
The current coronavirus crisis is showing America that relying on foreign nations for essential products is a bad mistake.
Boeing going under is bad for America, but helping Boeing stay afloat is fraught with problems too.
If Boeing gets the money that they’re looking for, it will lead to government oversight and high amounts of debt.
Boeing is going to stop paying dividends, and CEO David Calhoun and Chairman Lawrence Kellner will give up their pay this year, but that may not be enough.
Sometimes neither option is a good option.
One Republican has decided that it’s time to bail on Boeing before a scandal hurts her own political future.
Nikki Haley is trying to untangle herself from the mess that Boeing has become because she’s looking to run in 2024.
According to the Daily Wire:
On March 16, former U.S. Ambassador to the United Nations Nikki Haley sent a letter to the CEO of Boeing, as well as the chairman of the board, announcing her resignation from the board of directors.
Haley has served on the Boeing board for almost a year, having joined in April 2019.
As the coronavirus pandemic continues to badly damage the economy, several industries have requested money from the federal government, including Boeing, which, aside from coronavirus-induced economic harm, is suffering from a major hit after the grounding of their 737 MAX jets in March 2019 following two fatal crashes.
President Trump recently noted his support for the aerospace company, saying: “Obviously when the airlines aren’t doing well then Boeing is not going to be doing well. So we’ll be helping Boeing.”
While Nikki Haley has gotten out from Boeing before they’ve gotten their bailout, she was on the board while they were pursuing a risky buyback program that helped line the pockets of stockholders and board members.
But she didn’t object to Boeing being mismanaged until she realized that she might pay a political price for Boeing being mismanaged.
She’s trying to make a big deal over the fact that Boeing shouldn’t be asking for a government bailout to avoid the criticism that she knows is coming.
She’s hoping by avoiding a position of power, she’ll look better than other politicians in 2024 that had to make hard decisions to protect America because of the Chinese coronavirus.