On Monday, Boeing announced a new $12 billion buyout of their stock after just completing a $6 billion buyback of stock last year. This makes shareholders wealthier while not producing a single new job. Boeing is able to do this thanks to a tax system that has increasingly favored corporations over individuals. Boeing is a good…More
Times editorial columnist Erik Smith’s argues “The state didn’t give Boeing any money” [“The Boeing giveaway that wasn’t,” Opinion, July 31]. It may be true that no checks were written, but corporate tax avoidance shifts burdens for supporting infrastructure and services from Boeing to people already burdened with the most regressive tax policy…More
Boeing CEO Jim McNerney states that he will not retire when he turns 65 next month, even though it is Boeing company policy [“Boeing profit rises, but tanker program worries analysts,” Business/Technology, July 23]. He then goes on to state that, “The heart will still be beating, the employees will still be cowering, I’ll…More
Dominic Gates’ article “Big bucks in moving Boeing engineers” [Business/Technology, April 26] is another brick in the demise of Boeing in the Pacific Northwest. In the 1970s and 1980s, the auto industry left the Detroit area to lower-cost states in the U.S. and to low-wage countries. While it may have taken decades for Detroit…More
Defense of past failures seems to be Boeing’s mantra these days [“Boeing CEO defends shifting engineering jobs,” Business/Technology, April 23]. Boeing success is a result of a dedicated and highly qualified workforce of talented engineers and assembly workers. Yet, the remotely located “senior management” in Chicago gloss over a number of their mistakes: a three year…More
Corrected version Boeing’s Groundhog Day is coming again [“Boeing managers say transfer of engineer jobs damaging talent, morale,” Business/Technology, April 15]. Remember all the grandiose expectations when Boeing production was moved to South Carolina? Low wages, but high quality to continue. Several years later: many delays, poor quality, canceled contracts and Boeing is still struggling…More
I read with dismay and deep anger in The Seattle Times that Boeing will pull 1000 engineering jobs out of our state [“Boeing moving 1,000 more engineering jobs to California,” Business/Technology, April 10]. As a retired public-school teacher, this hurts me deeply in two ways. First, my state Legislature agreed to grant Boeing almost 9…More
Boeing won’t be paying any taxes this year [“Boeing has big tax refund coming from Uncle Sam — again,” seattletimes.com, March 1].
Instead, by deferring tax payments, it will be getting a $199 million refund. It’s not alone; many corporations are avoiding taxes altogether through loopholes. In the Senate there is a bill that would close corporate tax loopholes that allow multinational corporations to hide their profits overseas to avoid paying taxes, and we should encourage Sens. Patty Murray and Maria Cantwell to champion it.
At least 82 of the top 100 publicly traded companies in America use tax havens like the Cayman Islands. Offshore tax dodging amounts to $150 billion a year in lost revenue — costing the average small business in Washington $3,616 extra each year, according to WashPIRG data. Small businesses, like individual taxpayers, are obligated to pay their taxes, so why should multinational corporations get off the hook?More
Pensions not a dirty word
Danny Westneat raises a seemingly valid concern when he writes, “If doing away with pensions was so critical for the health of a private company making record profits, then why not for a cash-strapped state?” [“Boeing puts all pensions at risk,” NWTuesday, Jan. 7]
But then I remembered: Government was never intended to be a for-profit enterprise.More
Where’s the parity between executives and Machinists?
Boeing workers pumped out more jets in 2013 than ever before [“Boeing’s 2013 deliveries soar to record despite 787 woes,” Business, Jan. 6]. Jet sales were the second highest in company history. Sales are up, profits are up, and Boeing stock is up.
Chief Executive Officer Jim McNerney’s annual salary is up 20 percent to $27.5 million and his pension increased dramatically as well.