Nikki Haley resigns from Boeing board, cites opposition to bailout

Nikki Haley resigns from Boeing board, cites opposition to bailout
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Former U.N. ambassador Nikki HaleyNikki HaleyPoll: Trump dominates 2024 Republican primary field Harris to hold fundraiser for McAuliffe ahead of Virginia governor's race Allies see rising prospect of Trump 2024 White House bid MORE is resigning from Boeing's board after the aircraft maker asked for a government bailout amid the coronavirus outbreak.

“As we encounter the COVID-19 crisis, Boeing, along with many other companies, face another major set of challenges,” Haley wrote in a letter dated Monday on a Securities and Exchange Commission filing. “However, the board and the executive team are going in a direction I cannot support.”

The filing added that Haley, who has served on the board for over a year, is against the company receiving federal support "as a matter of philosophical principle."

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On Thursday the company asked Congress for a $60 billion bailout for the company and its aerospace suppliers after their stocks plummeted nearly 18 percent on Wednesday.

President TrumpDonald TrumpTrump takes shot at new GOP candidate in Ohio over Cleveland nickname GOP political operatives indicted over illegal campaign contribution from Russian national in 2016 On The Money — Dems dare GOP to vote for shutdown, default MORE and lawmakers have promised to provide assistance to the company, even as other industries, including the airlines, make similar requests. As a major employer, Boeing has long held clout in Washington and the company is marshaling those resources in what experts say is its toughest test yet.

“While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses,” Haley added. “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.”

On Wednesday Trump signed a coronavirus aid package that includes paid leave benefits and free testing. Lawmakers are already at work on the next package, a potentially $1 trillion stimulus bill, which companies like Boeing would have to compete for.