Boeing chairman: We’re considering moving parts of company to other countries
Jul 30, 2015, 6:25 AM | Updated: 1:56 pm
Outgoing Boeing CEO Jim McNerney delivered a bombshell, adding to the controversy over the Export-Import Bank. (AP)
(AP)
Outgoing Boeing CEO Jim McNerney delivered a bombshell, adding to the controversy over the Export-Import Bank.
At a Wednesday meeting for the Economic Club of Washington in the nation’s capitol, McNerney said that Boeing is considering moving pieces of the company overseas if Congress doesn’t reauthorize the bank.
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“I’m beginning to question the strategy of making and designing everything in the United States,” McNerney said. “I mean, if there is not an Export-Import Bank, we’re actively considering now moving key pieces of our company to other countries. And we never would have considered that before this craziness on Ex-Im.”
McNerney’s job as CEO of Boeing officially ended July 1. He remains a chairman with the company.
“My strategy has been: building in the U.S., engage the American worker, export. That’s why we are the country’s largest exporter,” McNerney said at the Economic Club. “And I’m beginning to think that maybe I made the wrong decision.”
McNerney said the Ex-Im Bank supports thousands of U.S. companies and helps level the playing field against foreign competition.
Congress allowed the Export Import Bank to expire in June. It has become a controversial topic among Republicans, some believing that the bank is an example of cronyism and refusing to renew it.
A day after McNerney’s comments at the club, Washington Democratic Senator Patty Murray said that she is also disappointed with Congress’ failure to reauthorize the Export-Import Bank.
“It’s clear the Export-Import Bank is critical to businesses — both big and small — all across Washington state. It helps our businesses grow, create local jobs, and expand our state’s economy. While I’m disappointed the House left for August recess without taking up this issue, I will keep fighting for reauthorization as long as it takes,” Murray said.
Should the bank go away, McNerney said it would be a game-changer for U.S. manufacturers.
“Not passing this legislation, not reauthorizing the Export-Import Bank, which should be a free throw,” he said. “This is not a three-point shot, this is a lay-up in terms of what is right for the country, and what’s right for the well-being of the workforce, keeping technology on shore, retaining our leadership in aerospace.”
Boeing’s Machinists Union didn’t wait long to voice its disagreement with McNerney on this one.
“While we share his frustration with Congress and its failure to reauthorize the Ex-Im Bank, we are tired of Jim McNerney and his constant threats to take away our livelihoods and destroy our communities,” IAM 751 president Jon Holden said in an online statement.
“This is one more example of how Jim McNerney operated during his years as Boeing’s CEO — threatening the livelihood of his employees and jeopardizing the communities they live in in order to get what he wants. Enough is enough. It is time for him to go. The only Boeing job that should leave this country is his,” the statement continued.
