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 HaleyNimrata (Nikki) Haley'The soul' versus 'law and order' Author Ryan Girdusky: RNC worked best when highlighting 'regular people' as opposed to 'standard Republicans' GOP lobbyists pleasantly surprised by Republican convention 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 John TrumpUS reimposes UN sanctions on Iran amid increasing tensions Jeff Flake: Republicans 'should hold the same position' on SCOTUS vacancy as 2016 Trump supporters chant 'Fill that seat' at North Carolina rally 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.