Talk about a golden parachute

If you look at it one way, Dennis Muilenburg's career at Boeing was spectacularly successful. Thirty-five years ago, he started working there as an intern. Through luck, pluck, true grit, hard work, inspiration, perspiration, and no doubt some measure of at least a couple of the other things that go into the sort of career-building that elevates someone to the highest reaches in an organization - things like politicking, bootlicking, bullshitting, credithogging and backstabbing - he became chairman and CEO. 

Then, oopsie, a couple of Boeing Max 737's fell from the sky - resulting in the deaths of 346 folks - and all of a sudden it seemed that Muilenburg wouldn't be playing out his full career with the company. Not that he was directly responsible for faulty designs, poor quality assurance, anti-safety pricing practices. But it all happened on his watch, and he did preside over the cost-cutting and schedule-accelerating initiatives that resulted in plenty of dubious (and it turns out dangerous) decisions, and he did some pretty sketchy pressuring of regulators to let the Max 737's stay in the air (theoretically: the problem was they weren't staying in the air), so...

The first sign that those two crashes would be costly to Mueilenburg was his "decision" in November not to take his bonus - a forgone goodie-bag that was worth about $14M.

But there's costly and then there's costly. 

It may have been difficult to give up that $14M - end of year expenses are high for everyone. And it must have been tough being shown the exit door of the company you've been worth your entire adult life, which is what happened to Muilenburg: he was forced out. But once the first of the year rolled around, it emerged that while he was shoved out that exit door, the plane really hadn't left the ground yet, there was a bouncy castle for him to land on, and the parachute he'd been given was worth $62 million. (Sadly, he did have to forfeit a $14.6 million severance package.)

So it's no surprise that:

Family members of crash victims told The Washington Post they are “sickened” by Muilenburg’s payout, saying he presided over a profit-obsessed corporate culture that led the company to cut corners. (Source: Wapo)

The overall amount set aside for the families of the 346 victims is $100 million. Which is not a whole hell of a lot less than Muilenburg's walking away money, once you throw in stock options worth $18.5 million, bringing the payday to $80.5 million. 

The $100 million is the fund that Boeing has set aside for victim compensation. Litigation may result in payouts that up this dramatically, especially when you judges and juries start taking the Muilenburg package into consideration. 

Boeing has "listened" to what the devastated families have to say.

After reviewing the families’ comments, Boeing spokesman Mike Friedman said: “We are truly sorry and offer our deepest sympathies to the families and friends who lost loved ones in the accidents of Lion Air Flight 610 and Ethiopian Airlines Flight 302."

Well, ain't nothing going to bring back the folks that died, but I'm sure their families could live without Boeing sympathies. Or with Muilenburg's, either.

In a video posted on Boeing’s website April 4, Muilenburg said: “We at Boeing are sorry for the lives lost in the recent 737 Max accidents.” He added “I cannot remember a more heart-wrenching time in my career with this great company.”

I'm sure that this all was heart-wrenching for Muilenburg. He's probably a nice guy. A smart guy. A "good" guy. Who in a senior position - with the notable exception of the current occupant of the Oval Office - wouldn't be heart-wrenched at the thought of the outfit they presided over having responsibility for the deaths of so many people? 

But while his heart may be wrenched, his wallet is intact. He's now financially set for a very, very comfortable life. 

In responding to the Max 737 debacle, Boeing's made a number of missteps. Here's hoping that Muilenburg's golden parachute is the end of it.