Affair causes Boeing chief to miss $38m share bonanza

[emad]

ndependent
By Katherine Griffiths in New York
12 March 2005


The affair with a female colleague which forced Harry Stonecipher to resign as chief executive of Boeing has cost him more than his job as one of the most high-flying executives in corporate America. He will also miss out on shares worth up to $38m (£20m).

Mr Stonecipher, 68, was due to get the massive shares award this year, to reflect his impressive record in turning around Boeing and tackling the corporate scandals it has been mired by.

The generous performance bonus was disclosed in a filing to America's Securities and Exchange Commission last week, but that was before details of Mr Stonecipher's affair emerged.

The shares, which would have expired in 2010 and depended on Boeing's shares roughly doubling from current levels, have now been scrapped.
http://news.independent.co.uk/business/news/story.jsp?story=619220

[Botany]

1. Guess he should not have parked his plane ......

...... in the wrong hanger.

:bounce:

[acmejack]

2. whoa

hope it was worth it

[ElectroPrincess]

9. You have to know that this demented old fart has millions already

stowed away in various swiss bank accounts. What's a mystery to me is = How MANY MILLIONS of dollars does it take to satisfy the arrogance of these wealthy, bloated, psychopathic CEO parasites?

The only dirty old man I respect is the guy that left a few million to that Blondie Bombshell (forgot her name). Why? Because his worthless Son never bothered to visit and/or pay much attention to his old man. Now this is an old RICH guy who I can somewhat respect. :evilgrin:

I imagine that the billionaire was pondering "relationships" prior to signing the last will:

"So my worthless and ungrateful Son doesn't have time to see me. Hum ... how can I get even? Oh! Let me give a large chunk of my chump change to MY BIMBO! That spoiled brat is so damn SHALLOW that he'll spin out into a major hissy fit ... oh yeah, too good ... the drama, and it will all be over little ole' me ... come on over here honey and give your Sugar Daddy some love?" <snarf>

[MSgt213]

3. I don't know how he's going to make it now with only his retirement from

two companies and other goodies not being discussed thrown in. Maybe we are cut some more people off of welfare to help this guy out.

[hippiechick]

4. What in God's name does one person need $38M for ??

I will just never understand BS like that.

[marcologico]

5. for the divorce and harassment settlements

adultery can be expensive!

[NNN0LHI]

6. I suppose when you are 68 years old it is worth it? n/t

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[kedrys]

8. That's so horrible (yawn). n/t

[Fridays Child]

10. Now that the "moral values" police have entered the boardroom...

...I wonder if CEOs are rethinking their political contribution strategies.

[BiggJawn]

11. My best "Nelson style" "HAH-Hah!"

HAH-Hah!

[Barkley]

12. According to one Boeing employee, the story broke when

an employee set out a mass email message detailing the allegations.


Last year, it was revealed that the Air Force's chief negotiator with Boeing Darleen Druyun, also had negotiated a vice president's job for herself with the aircraft manufacturer.

Since 2000, she gave special consideration on other billion-dollar contracts awarded to Boeing, a company where her daughter and future-son-in-law were given jobs, Druyun told the court.

http://gnn.tv/articles/1059/Boeing_Scandal_Part_of_Deeper_Problems_at_Pentagon