Nikki Haley Resigns From Boeing Board Over Potential Coronavirus Bailout
On Thursday, former UN Ambassador and South Carolina Governor Nikki Haley resigned from the Boeing’s board of directors, due to the aircraft company asking for $60 billion in bailout money from the federal government in response to the Coronavirus.
For reference, this comes after Boeing has blown $43.44 billion over the past decade buying their own stock.
As reported by Axios earlier this week, President Trump said he would help the airlines that inevitably would be hurt by the Chinese pandemic:
President Trump on Monday vowed to “backstop” airlines that have been hurt by the rapid plunge in air travel bookings amid the coronavirus outbreak, saying, “It’s not their fault.”
According to The Hill, Boeing replied that $60 billion in “public and private liquidity, including loan guarantees” for the aerospace manufacturing industry should be the minimum amount.
In light of Boeing’s request, Haley stated:
While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses. I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position. I have long held strong convictions that this is not the role of government.
Boeing responded in a statement that “We appreciate her service on the board and wish her well.”
Haley’s decision is a clear sign of integrity that is much in need in our political class.