Everything that’s wrong with capitalism:
CHICAGO, Dec. 16, 2013 /PRNewswire/ — Boeing [NYSE: BA] Chairman, President and Chief Executive Jim McNerney announced today that the Boeing board of directors authorized an additional $10 billion for the company’s share repurchase plan and declared that the company’s regular quarterly dividend will increase by approximately 50 percent to 73 cents per share.
“These actions reflect sustained, strong operational performance by our businesses, increasing cash flow, and our confidence in the future,” said McNerney. “Our team’s relentless focus on business execution and competitiveness is providing the financial strength to continue investing in our core businesses while increasing our returns to shareholders.”
Meanwhile, the actual people who build Boeing’s planes (who are not even mentioned as contributors to Boeing’s profits) are being asked to give up their pensions in exchange for keeping their jobs. Hooray for the free market!