Boeing CEO McNerney earns $23.3 mln in 2013

March 14 Fri Mar 14, 2014 6:10pm EDT

March 14 (Reuters) - Boeing Co's Chief Executive W. James McNerney earned $23.3 million in 2013 compared with $27.5 million in 2012, as the value of his pension was unchanged last year.

Boeing said last week that it would end pension plans for 68,000 non-union employees, including McNerney, effective Jan. 1, 2016.

McNerney's total compensation nearly doubled to $39.2 million last year, including stock options exercised and excluding the change in pension value, showed a filing with the U.S. Securities and Exchange Commission on Friday. ()

The value of 64-year-old McNerney's pension had risen by $6.4 million in 2012.

The base salary of McNerney, who has held the top job since July 2005, has remained unchanged at $1.93 million since March 2008.

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Comments (1)
tomas85225 wrote:
Boeing may look great on paper so did E-Ron and Cross Road but Boeing stock price is inflated by the press,

But many of Boeing Cash Cow program have ended or will be ending
Boeing stock price is $100 over price look at the stock price of the suppliers and the airlines
Spirit AeroSystems and Triumph Group build parts for Boeing

Spirit AeroSystems Holdings, Inc. $27.06 and Spirit has taken charge off
2014 Spirit AeroSystems posts loss on charges, shares down 22 percent …
2013 Spirit AeroSystems to take $350 million charge, plans to sell …
Triumph Group Inc Last $66.10 USD
Alcoa Inc $11.19+0.14 (1.27%)
Southwest Airlines Co. 21.43+0.47 (2.24%)
Delta Air Lines, Inc. 31.65+0.76 (2.46%)
Boeing has not update its commercial aircraft produced lines or modernizes its assembly plant to meet the need of 35,000 new aircraft over the next 20 years
What will the cost to update Boeing assembly line and plants and what is the time frame!
Boeing has sold off its fabrication plants

40% of Boeing workforce will be retiring over the next five years (or 2016 since there no more pension plan)

Boeing has yet to build the Yellowstone Project
Boeing The Current Market Outlook see

Airbus Global Market Forecast 2012-2031 see

Average Fleet Age for Selected Airlines see

The Boeing product line is out dated the 747 was design in 1961, 737 in 1966, 757 & 767 in 1972, 777 in 1989, 737NG in 1997,737 MAX in 2006 787 and 777-X in 2013
What does Boeing need with 747-8, 767-200.-300,-400, 777-200, -300, freighter, -8X and -9X, 787-8,-9,-10 all in the markets
Boeing has offer the 777-100 & combo at the Pair Air shown in 1995 and the 777-X twice before (Boeing did not build the double Decker 747-500 & -600 in 1997 or the Sonic Cruiser or the X-48- 797 BWB)

What does Boeing need with the 777-200 &-300, 787-8,-9,-10, 747-8, and the 767 all in the same marker that are rarely use on domestic route
Boeing now need and aircraft the can fly 3800 miles for the China market ( 787-3 of 777-100)

Boeing need 27 Billions of tax payer to build 259 777-X that will not ready still 2020
Airbus beat Boeing in 2013, and in 2010 Boeing beat Airbus by 38 aircrafts, Southwest Airline delay 30 737 still 2017 alone with other airlines
The 747-8 was stated in 2005 with 120 orders and only 64 deliveries, the program is 2.04 Billion over budget the aircraft is overweight and need PIP upgrade to meet Performance Guarantee and there been no new orders and may be replace by the 777-X freighter
In 1997 Boeing did not build the Double Decker 747-500 and -600
In 1998 Airbus offer the A-380 with 306 orders and 122 deliveries
The 787 was started on 3-28-2003 with 1030 orders and only 114 delivery
The first 40 787 cost Boeing 31 millions, 40 of the first 70 787 had to be park and rework

Boeing is write late fee checks and the 787 being out service to Air India 500 millions and Lot airline for 33 millions
Boeing has class action lawsuit for making false claims about the 787
Boeing Dreamliner Lawsuit Dismissal Upheld on Appeal – ……/boeing-class-action-case-dismissal-upheld-by…

The 737MAX, 787-10, 777-X are still on the drawing board
737 Max development cost to be twice A320neo: report – Flightglobal…/737-max-development-cost-to-be-twic
Boeing slows the pace on 777X…/2018972134_boeing777x23.h…‎

No test wing has been build and tested, test parts build and tested, flight test aircraft build for the two years flight test program
No longer lead parts has been orders, engines, landing gear ect that must be orders three years in advance
The A-350 that was start in 2005 has 814 orders, that is in production, in flight test and as flow at the air shown in 2013 and 2014 and will be delivery in 2015

The A-350 freighter has 118 orders; the 777-X freighter has yet to be offers
Boeing has been kept afloat by all the North American Aviation, Hughes, Douglas, McDonnell product

The Northrop F/A-18 E&F, EA-18G, Douglas C-17, McDonnell F-15, the Rockwell Space Shuttle has come to end
Boeing need 27 Billions of tax payer money to build 259 777-X that coming to market too late to complete with the A-350 that in production, in flight test that has flown at the Airshow in 2013 and 2014 that will be delivers in 2015

The 777-X is only needed on non-stop route in and out Singapore and Australasia
Many airlines are not replacing there exist Boeing aircraft, since Boeing CEO James McNerney, and GE CEO Jeff” Immelt are member of the board on the Import-Export Bank that made better loan to foreign airlines at a lower interest rate
Delta, and other Airline Group have file law suits against The U.S. Export-Import Bank over Air India Loan Guarantees
This may be the reason that airlines are now ordering from Airbus
Air India and Jet Air has decided to sell five out of its eight Boeing 777-200LR aircraft owing to changes in market dynamics due to the Global recession, steep increase in fuel prices and poor yields on non-stop routes,

What will Boeing stock price will be in 2016 when the 777-X, 737Max, 787-10 are still on the drawing board and many of the military program have ended and the factories have not been updated !

Mar 17, 2014 10:04am EDT  --  Report as abuse
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