Boeing President and CEO, Jim McNerney reassures The Highest Standards Work Ethic.   $615 million fine is Too High. Deducting the fine from its taxes will be fair!!!

Boeing President and CEO, Jim McNerney reassures the highest levels and standards of ethics and compliance to Senate Armed Services Committee on the Boeing-U.S. Government Global Settlement.(1)

It is shocking to hear about a $615 million fine to settle. The Boeing settlement is one of the largest defense-related agreements reached with the federal government. (Search)

In addition, Senator McCain did not encouraging the Boeing instead, Senator McCain (AZ) directed his sharpest questions to Deputy Attorney General Paul McNulty. McNulty defended the settlement and said questions about when any or all of a fine can be deducted from taxes is a matter settled by the Internal Revenue Service, not the Justice Department. (2)(7) It is obvious that is, and shows only fair to deduct the fine from its taxes.

July 31, 1997: John F. McDonnell, son of founder James S. McDonnell, retires, and thus becomes the last chairman of McDonnell Douglas. He remains a member of The Boeing Company board of directors.

Aug. 1, 1997: The Boeing Company, along with its North American component, merges with McDonnell Douglas Corp. Phil Condit continues as Boeing chairman and CEO and Harry Stonecipher, former McDonnell Douglas CEO, becomes Boeing president and chief operating officer.(4)

The Boeing Company, along with its North American component, merges with McDonnell Douglas Corp. There was wide agreement in U.S. defense circles about the need to replace the aging KC-135 Stratotanker fleet. However, a lease arrangement, whereby Boeing would lease around 100 KC-767 aircraft to the USAF, has become mired in political controversy. U.S. Sen. John McCain, among others, has questioned whether it is really cost-effective for the Air Force to lease aircraft at all, particularly as the aircraft would probably not have many, if any, civilian buyers when their military service was concluded. Darleen Druyun was sentenced to nine months in prison during 2004. She was released from prison on September 30, 2005. The ramifications extended to Michael Sears CFO, who was released from Boeing involuntarily (3), and Phil Condit (Boeing President, and CEO) resigned from his position.

The Boeing took care of the matter in a professional matter and resolved as providing the most hightest Ethic Standards plan and training (6)include the Boeing's Learning Together Program (9) and The Boeing considers developing its next generation of leaders to be a critical aspect of sustainably growing the company Leadership.(10) However, The Boeing Co. has reportedly agreed to pay $615 million dollars to end three years of Justice Department investigations into high-profile contracting scandals at the defense giant. The Boeing settlement is one of the largest defense-related agreements reached with the federal government. (Search) Hopefully will be able to deduct through the Internal Revenue Service, not the Justice Department. (2) (7) It is only fair to deduct the fine from its taxes, especially when it's so high.

The Boeing Company now has the most highest Ethic Standards like what The Boeing CEO and President, Jim McNerney says:

"Ultimately, our goal is to make ethics and compliance a clear competitive advantage for Boeing. Our people, and their values, along with our leading-edge technology and products, are why our customers choose--or choose not--to do business with us".

"So, we aspire to do more than just stay out of trouble. To do that, we are making ethics and compliance part of our leadership agenda--and expect this will become a powerful discriminator for our company".

To strengthen our culture, we have been changing in three major ways.

First, we are Getting committed and getting aligned.

For example, every employee, each year, personally recommits to ethical and compliant behavior three ways: by going through a thorough training regimen; re-signing the Boeing Code of Conduct; and participating in one of our Ethics Recommitment stand-downs with his or her business or function. Also, in November 2003, Boeing established a new organization--the Office of Internal Governance--which reports directly to me and has regular, and routine, visibility with our board of directors. OIG's role includes:

Second, we are opening up the culture. And this is critical. We are creating a work environment that encourages people to talk about the tough issues and to make the right decisions when they find themselves at the crossroads between meeting a tough business commitment and doing the right thing. There simply can be no tradeoffs between Boeing's values and Boeing's performance. We want people to know that it's OK to question what happens around them, because that's what surfaces problems early. Silence that ignores the misconduct of fellow workers is not acceptable.

Finally, we are driving ethics and compliance through our core leadership development model, not just off to the side of other things we do every day. At the end of the day, the character of an organization--its culture--comes down to the behavior of its leaders. I believe this is key: Ethics and compliance must be--and must be seen to be--a central part of the whole system of training and developing leaders, and of the whole process of evaluating, paying and promoting people.

The Chicago-based, $54.8 billion aerospace company. With more than 155,000 (Tax payers) employees, Boeing is the largest manufacturer of commercial jetliners and military aircraft as well as provides related support services to the commercial airline industry worldwide with capabilities in rotorcraft, electronic and defense systems, missiles, satellites and advanced information and communications systems.

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