| mmm3587 |
03-08-2005 12:05 PM |
through the looking glass
Quote:
Originally posted by sgtclub
I just don't buy this line. An intracompany affair has what to do with business ethics? And why disclose it? For the minimal gain in public confidence? This investor does not think this means a damn thing when it comes to ethics in contracting.
I've seen first hand several executives of public companies get canned (sorry, be asked to resign). Even in cases of fraud, the public disclosure says something like "CEO resigned today. New CEO, who has a world of experience in [insert exactly what company needs right now] was appointed [interim] successor. Company reaffirms guidance for quarter and year."
This reaks of a broken down negotiation and setting of the stage for litigation. Either that, or bad lawyering.
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I agree with club; there HAS to have been something else. All the news reports on it are weird, and I think that it's especially weird that they don't mention that this is a little out of the ordinary. Sort of a "we're not going to mention the obvious" tactic. A few points:
He was already on his was out; there was already a search on for a new CEO to be appointed sometime in 2006.
Adultery or intracompany affairs weren't even against the rules. They fired him because he breached a policy of "not doing anything that brings the company's ethics or public image into question" or something like that.
Apparently he had been a real hardass about enforcement of that policy, so maybe he just reaped what he had sowed and Boeing looked at it as a way to get some good press.
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