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Boeing’s ousted CEO departs with $62 million, even without severance pay
Boeing Co’s ousted chief executive officer, Dennis Muilenburg, stands to receive $62 million in long-term incentive, stock awards and pension benefits, but forfeited $14.6 million and will receive no severance, the planemaker said in a regulatory filing on Friday.
Business News
Wall Street slips from records after jobs data, but posts weekly gains
U.S. stocks fell on Friday from record-high levels as investors took profit and data showed slower-than-expected December U.S. jobs growth, but the major indexes posted gains for the week.
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Business News
Boeing says ousted CEO Muilenburg not entitled to severance payment
Muilenburg was fired from the job in December as the company failed to contain the fallout from a pair of fatal crashes that halted output of its bestselling 737 MAX jetliner and tarnished its reputation with airlines and regulators.
Business News
Boeing’s ousted CEO Muilenburg not entitled to severance payment
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)
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Boeing says ousted CEO Muilenburg not entitled to severance payment
Muilenburg was fired from the job in December as the company failed to contain the fallout from a pair of fatal crashes that halted output of its bestselling 737 MAX jetliner and tarnished its reputation with airlines and regulators. Based on Boeing securities filings from early 2019, Muilenburg was eligible for about $39 million in severance. “Upon his departure, Dennis received the benefits to which he was contractually entitled and he did not receive any severance pay or a 2019 annual bonus,” Boeing said in a statement. …read more […]
Business News
Boeing supplier Spirit to lay off more than 20% of workforce in Kansas
Boeing Co’s biggest supplier, Spirit AeroSystems Holdings Inc , said on Friday it plans to lay off more than 20% of the workforce at its Wichita-Kansas base as it grapples with halted production and uncertainty over when 737 MAX jets will return to service.
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U.S. regulator seeks to fine Boeing $5.4 million for defective parts on 737 MAX planes
The Federal Aviation Administration (FAA) said on Friday it was seeking to fine Boeing Co $5.4 million, alleging it failed to prevent the installation of defective parts on 737 MAX airplanes.
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Where people are moving in the United States and why: study
A new study from popular moving company, Bellhops, examines where, and why, Americans are moving around the United States. Bellhops CEO Luke Marklin joins The Final Round to discuss the results of his company’s study. …read more […]
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Your 529 Questions… Answered!
For all the drama around Iran and the threat of war, the markets have been remarkably stable so far in 2020. So let’s use this lull to return to a topic that spurred a lot of interesting questions from our readers: grandparents and 529s.
What are the consequences of letting a plan “coast” to the next generation or further? Is this idea a valid estate planning tool for future generations? – Rebecca L.
Since a 529 must be used for educational expenses, what happens if the grandchild doesn’t continue an educational path?
Wouldn’t funding a Roth IRA in your own name be …read more […]
Business News
Facebook’s stock hits record high, signaling recovery after extended historic slump
Shares of Facebook , which have been doggedly crawling their way back from a historic slump after lapses in users’ privacy sparked fears of lower profits, on Friday struck an intra-day record high for the first time in over a year.
Business News
Canadian prosecutors say case against Huawei CFO is about fraud, not sanctions
Huawei executive Meng Wanzhou’s conduct amounts to fraud under Canadian law and the court need not consider U.S. sanctions law, Canadian federal prosecutors argued in a court filing released on Friday.