<story><title>Boeing CEO Dennis Muilenburg Addresses the Ethiopian Airlines Flight 302 Report</title><url>https://boeing.mediaroom.com/2019-04-04-Boeing-CEO-Dennis-Muilenburg-Addresses-the-Ethiopian-Airlines-Flight-302-Preliminary-Report</url></story><parent_chain><item><author>pauljurczak</author><text>&amp;gt; their responsibilities lie with their shareholders&lt;p&gt;This is the &amp;quot;shareholder value&amp;quot; theory, modern economists successfully brainwashed the population with. It became popular during the 1980s, &amp;quot;greed is good&amp;quot; times. It&amp;#x27;s just an ideology disguised as a science. The purpose and structure of modern corporation hasn&amp;#x27;t changed in the last hundred years or so. In 1950s and 1960s the public good, among others, role of corporations was wildly accepted. What changed is the ideologues who became more vicious and took complete control of the narrative.</text></item><item><author>bitreality</author><text>With the way litigation works, corporations will never admit blame for anything, since it greatly increases their legal risk.  It&amp;#x27;s unfortunate, but their responsibilities lie with their shareholders, not the people who lost their lives on their planes.</text></item><item><author>ndespres</author><text>I know better than to read between the lines on a press release like this, but can&amp;#x27;t help but notice that it falls far short of accepting responsibility for the problem.&lt;p&gt;He admits that MCAS &amp;quot;activated in response to erroneous angle of attack information&amp;quot; but doesn&amp;#x27;t admit that this alone directly resulted in the crashes. Rather, he implies that this sets off a chain of events which the pilots are unable to deal with (&amp;quot;pilots have told us, erroneous activation of the MCAS function can add to what is already a high workload environment&amp;quot;) which puts undue blame on the pilots rather than the system.&lt;p&gt;If you&amp;#x27;ll excuse the analogy, it&amp;#x27;s as if they installed a new griddle in a restaurant kitchen which randomly gets ten times more hot than it ought to be, with no warning. The cook doesn&amp;#x27;t know it&amp;#x27;s too hot until the eggs start burning. Now the manager is saying that since the kitchen is so busy, the cook can&amp;#x27;t flip the eggs fast enough in response to these randomly fluctuating high temperature events. We&amp;#x27;re being told it&amp;#x27;s the cooks&amp;#x27; fault.&lt;p&gt;I don&amp;#x27;t like being bullshitted and find this sort of dodgy language completely inappropriate when 300 people died.</text></item></parent_chain><comment><author>TrolTure</author><text>Somewhat hilariously it&amp;#x27;s also often claimed that CEO&amp;#x27;s are not allowed to lie due to then being liable for misinforming shareholders.</text></comment>
<story><title>Boeing CEO Dennis Muilenburg Addresses the Ethiopian Airlines Flight 302 Report</title><url>https://boeing.mediaroom.com/2019-04-04-Boeing-CEO-Dennis-Muilenburg-Addresses-the-Ethiopian-Airlines-Flight-302-Preliminary-Report</url></story><parent_chain><item><author>pauljurczak</author><text>&amp;gt; their responsibilities lie with their shareholders&lt;p&gt;This is the &amp;quot;shareholder value&amp;quot; theory, modern economists successfully brainwashed the population with. It became popular during the 1980s, &amp;quot;greed is good&amp;quot; times. It&amp;#x27;s just an ideology disguised as a science. The purpose and structure of modern corporation hasn&amp;#x27;t changed in the last hundred years or so. In 1950s and 1960s the public good, among others, role of corporations was wildly accepted. What changed is the ideologues who became more vicious and took complete control of the narrative.</text></item><item><author>bitreality</author><text>With the way litigation works, corporations will never admit blame for anything, since it greatly increases their legal risk.  It&amp;#x27;s unfortunate, but their responsibilities lie with their shareholders, not the people who lost their lives on their planes.</text></item><item><author>ndespres</author><text>I know better than to read between the lines on a press release like this, but can&amp;#x27;t help but notice that it falls far short of accepting responsibility for the problem.&lt;p&gt;He admits that MCAS &amp;quot;activated in response to erroneous angle of attack information&amp;quot; but doesn&amp;#x27;t admit that this alone directly resulted in the crashes. Rather, he implies that this sets off a chain of events which the pilots are unable to deal with (&amp;quot;pilots have told us, erroneous activation of the MCAS function can add to what is already a high workload environment&amp;quot;) which puts undue blame on the pilots rather than the system.&lt;p&gt;If you&amp;#x27;ll excuse the analogy, it&amp;#x27;s as if they installed a new griddle in a restaurant kitchen which randomly gets ten times more hot than it ought to be, with no warning. The cook doesn&amp;#x27;t know it&amp;#x27;s too hot until the eggs start burning. Now the manager is saying that since the kitchen is so busy, the cook can&amp;#x27;t flip the eggs fast enough in response to these randomly fluctuating high temperature events. We&amp;#x27;re being told it&amp;#x27;s the cooks&amp;#x27; fault.&lt;p&gt;I don&amp;#x27;t like being bullshitted and find this sort of dodgy language completely inappropriate when 300 people died.</text></item></parent_chain><comment><author>everdev</author><text>If the CEO of a public company owns 10% of that company&amp;#x27;s shares and 90% of their new worth comes from the value of that stock, I can imagine them caring a great deal about increasing the value of the stock.&lt;p&gt;This is what people are referring to when they say &amp;quot;shareholder value&amp;quot; -- diving up the value of the stock.</text></comment>