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  • 22

Boeing dedicates $100 million to victims of 737 Max crashes

Soumis
 
New York (CNN Business) Boeing will pay out $100 million to help support the families and communities of the 346 people who died in two 737 Max crashes in the last year. The company said the money will be given to local nonprofits and community groups who will help distribute the funds. They'll be used to support education, including college tuition or other schooling expenses for children of victims, and "hardship or living expenses for impacted families," Boeing (BA) said in… (www.cnn.com) Plus d'info...

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dtbatlaw
Donald Barkemeyer 5
What an insult, offering less than the cost of one 737 Max to the families of 346 people killed in 2 separate crashes. The crashes were the result of an issue that Boeing KNEW ABOUT and did not acknowledge to the general public nor the flight crews of the aircraft until after the second fatal crash. Obviously, the pay of Boeing's CEO and the value of its stock outweighed the lives of the flight crews and passengers of the 737 Max. Criminal negligence, if not murder.
milehighou
Eric Tischler 3
LOL, it's going to cost Boeing a lot more than that. Add a few more zeroes, boys. Boeing deserves to pay out the nose for what they did.
imorenas
imorenas 2
Meanwhile the fat cat at the top got a raise.
https://www.bloomberg.com/news/articles/2019-03-15/boeing-increases-ceo-s-pay-27-to-23-4-million-for-last-year
siriusloon
siriusloon 10
"But first, sign this agreement to never, ever sue Boeing or give any interviews saying how much you miss your loved ones if you want us to toss a few bucks your way."

I wonder if Boeing has forgotten that it wasn't just bunch of poor Third Worlders who were killed. There were also North American and European passengers among the dead and I don't think they'll be easily coerced into accepting Boeing's first offer. Lots and lots of lawyers will make sure of that.
JMARTINSON
JMARTINSON 1
Is reading comprehension the problem, or is it more pathological in nature?
Cansojr
Cansojr 0
"Third Worlders" is a generous yet rascist according to your own value judgements.
rugbydoc
rugbydoc 6
Geez. Looks like (on the surface, admittedly) poorly disguised and inappropriately adjusted damage control. Using third party distribution channels weakens the effort by untold amounts. What's happened at Boeing? Or maybe those "in the know" feel this is business as usual?
bentwing60
bentwing60 8
Not to sound too jaded or anything, but, they'll write it off on the corporate taxes and those that are really in "the know" have retired, moved on or been shown the door. Once highly sought after Boeing upper level management may now join the ranks of the GE, Kodak, Nokia, Blackberry gurus. Not quite so mobile career wise or able to write their own ticket in other industries.
siriusloon
siriusloon 3
There are still lots of unfilled appointments in Washington.
Cansojr
Cansojr 2
That's 100 square miles surrounded by reality.
siriusloon
siriusloon 12
You can be sure that Boeing's lawyers went over this offer letter by letter and comma by comma to limit liability and responsibility as much as possible. There's nothing generous or human about this offer. It's a PR exercise. Not one person at Boeing has resigned or been fired, but the board of directors authorised a dividend to shareholders last week.
Cansojr
Cansojr -3
You are nothing short of a legal critic. What would you propose instead?
JMARTINSON
JMARTINSON 1
Did you seriously just say Boeing could do a better job at distributing the money to individuals than local nonprofits and local community groups could (and by untold amounts, no less)? What on earth are you and your six friend smoking?

This is just too much. God help us.
Cansojr
Cansojr 1
NEGATIVE!

nasdisco
Chris B 4
$100 million is far greater than the cost of actually developing MCAS to the point where it was safe to release it, plus cost of pilot training to manage the system....
chalet
chalet 2
Not quite so that it will be safe to release, at least for several months. The Max 8 and its infamous MCAS was created to try to correct an inherent and aerodynamic design flaw. Damaged goods?
djjamar
Jamar Jackson 6
Damn Boeing is some cheap SOB. one Max cost 130 million. Pure corporate greed.
JMARTINSON
JMARTINSON 0
100 million no strings attached. I know why the lawyer quoted in the article is bitching and moaning (because he doesn't get a cut), but why are you?
vertgreen
Lawrence Green 2
$100 million divided by 346 = $28901 per victim. A disgusting and miserable offer. Boeing assumed that a $100 million offer would seem outstanding. It is really really DISGUSTING.
JMARTINSON
JMARTINSON 1
What if they were to bump that per victim amount by a factor of, say, ten?
lecompte2
lecompte2 2
It is amazing that management in this company is still there and still walking the streets.
upchucked
C. WESLEY GRADY 4
Just to clarify a few points. The money isn't much, about the average price of a 737MAX, but there is no requirement that the money is given for a release or other promise. Many of the people who died were supporting a family and with that support now missing, Boeing was convinced that a responsible response would be to give support now, when it is needed. I don't Boeing, nor the way they do business. And, since I live an hour's drive from their S.C. plant that builds the 787, I know enough about the workforce to openly say I will never knowingly get on one. The errors and mistakes that have been made, from missing bolts, screws, lock-wires, to tools left inside wings, bulkheads and places where they can cause lots of damage if they slide around are all endemic of the low wage workforce in Charleston. I see Boeing surviving only do to the efforts of Donald J. Trump and his tariff attack on Airbus. Airbus will soon come to regret building a plant in the US, when they are openly attacked, only to save Boeing.
Quirkyfrog
Robert Cowling 2
It's a PR stunt, and on one level racist. Saying that those that died in Boeing's quest for profit aren't worth much. How many died? Divide the money by the number that died, and you see how much Boeing values their customers. This will be written off, and yes, Boeing plans for a certain amount of payouts per year, and will only take action on a problem if the payouts exceed what they have budgeted. It's capitalism, and the bean counters won. Every corporation does that kind of calculation. Pharmaceutical companies, car companies, food companies. It's cold, and heartless.

But, in aviation's history, how many times have changes in planes been made only after several crashes and loss of life.
anapides
anapides -1
Hi Robert; Can you elaborate on what you mean when you say "on one level racist" How are Boeing being racist ?
lecompte2
lecompte2 1
If the victims of the 2 horrible crashes had been North-Americans, Boeing would already be out of business from the billions in law suits. Just look at that California electric company that started the fires.
angelruki
a p 2
100 million.
Almost 400 killed people.

Next time you think about flying a Boeing remember that for Boeing, your life and/or your wife/husband life and/or your kids lives are worth just $ 250k.
ADXbear
ADXbear 2
It's not over.. if I were them, I'm not taking a dime of this money
imorenas
imorenas 3
100M USD per victim is more reasonable.
JMARTINSON
JMARTINSON 1
I'd say a bazillion trillion is even more reasonable.
JMARTINSON
JMARTINSON 1
Why wouldn't you take it? It makes no sense.
glendulaney
dulaney glen 1
What a vile offer. I'm amazed it ever got out the door. It's incendiary, if nothing else.
iaincmaciver
Iain Maciver 1
thats roughly $290,000 per victim. Yes Boeing is being cheap.
lecompte2
lecompte2 1
Do not sign anything to get this money, they are trying to rob you.
vertgreen
Lawrence Green 1
Guilt money.
Boeing are disgusting.
Cansojr
Cansojr 1
That's just a small fraction of what the law suits will pay the victims families.
vertgreen
Lawrence Green 1
Per victim ?
vertgreen
Lawrence Green 0
A Saudi airline has cancelled order from Boeing for 30 x 737 Max's ... cost being $5.9 billion USD.
Good move ... great decision. Awaiting numerous other airlines to follow with cancelling orders.
jambork
gordo muskegon -5
I don't see "corporate greed" here. As with the design flaws, it's the generation that grew up with victorless sports, self-esteem over accomplishment, juice box and ribbons for all mentality that now runs American business. Much like the Viking Sky mess. "Educated" fools with poor judgement in powerful positions.
jbryner
Jeffrey Bryner 14
Interesting statement ("it's the generation..."). Boeing's CEO is not a millennial (or Gen Y or Z) by a longshot. He's 55ish. Corporate greed is a collective effort when executed and not characterized by age but rather a lack of ethics and putting money/profit over all else.
ccaciola
Chris Caciola -1
Yes Too many stupid people to reply to... Do any of you speak English? While you’re quick to bash Boeing (and they will be proven to be liable in all this) they are making funds available to the survivors of the crashes.

“A Boeing spokesperson said that people who accept funds from the $100 million compensation fund will not be required to give up the right to pursue legal action against the company. The spokesperson declined further comment on Boeing's ongoing lawsuits.”

The author of the article says that the offer “appears disingenuous”, however to a family which has lost its ability to earn, because of the loss of their support person/persons, any immediate relief can be very important.

You math wizards who were able to divide the number of victims into the $100M - “$250,000 per person” - just hide an watch. There will be much more $$$ awarded to the unfortunate victims of the crashes.

I have no skin in this game - own no Boeing stock, nor work for them or any affiliates.
JMARTINSON
JMARTINSON 2
Stupid person here just chiming in to let you know it was the lawyer who said the offer appears disingenuous, not the author.

Could it have anything to do with the fact that he doesn't get to take his usual 40% contingency fee right off the top? Nah.

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