Boeing (NYSE:BA) news for Friday includes the company’s Board of Directors losing a member.
Nikki Haley, a former U.S. ambassador to the U.N., is stepping down from her position on the Board of Directors. The cause behind this Boeing news is a bailout for the airline from the U.S. government. Haley is not in agreement with the company accepting aid.
The bailout for Boeing comes as the coronavirus from China continues to make its way through the U.S. This has many businesses suffering as a result and the government is looking to help. That’s where the aid for Boeing would be coming from.
Here’s what Nikki Haley said in her resignation letter, as collected from CNBC.
“While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses. I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position. I have long held strong convictions that this is not the role of government.”
It’s worth noting that this move from Haley could help advance her political career. Speculation that she may choose to run for President in 2024 has been circulating. If so, decisions like this may help distance her from current President Donald Trump, despite serving as an ambassador during his administration.
As of this writing, William White did not hold a position in any of the aforementioned securities.
