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Boeing CEO Dave Calhoun is poised to leave his post at the end of the year with a massive payout — despite a failed tenure capped by the Alaska Airlines door blowout that has devastated the company’s reputation.

The top executive at the embattled aerospace giant — which was already recovering from a pair of deadly 737 Max crashes when Calhoun took the top job in 2020 — will leave with $24 million in his pocket despite the fact that Boeing’s stock price is 43% lower compared to the day he took over as CEO.

If Calhoun’s successor manages to boost the firm’s share price by 37%, he would make an additional $45.5 million, according to a report.

An analysis of SEC filings showed that Calhoun holds 175,435 options whose exercise price is lower than the price of the company’s stock, according to Fortune.

Calhoun also holds 107,195 options that are priced at $258.83 a share and which expire in February 2031 and 68,240 options priced at $260.98 a share which expire in February 2032, according to Ben Silverman, vice president of research at Verity, a firm specializing in stock sales analysis.

As of Tuesday, Boeing’s stock price hovered around $188 a share.

That means Calhoun’s successor needs to turn the company’s fortunes around and get the stock price up by 37% so that he can cash out his options and walk away with $45.5 million.

If Calhoun’s exit is seen as a retirement, he would be entitled to a $5 million payout based on a portion of restricted stock that would vest, according to Silverman.

Boeing has declined to comment.

When Calhoun took over as CEO in January 2020, Boeing’s stock was priced at around $330 a share.

From 2020 through 2022, Calhoun earned $65 million in compensation, according to the company’s annual proxy statements filed with the Securities and Exchange Commission.

The company’s 2024 proxy statement hasn’t been made available as of Tuesday.

Calhoun’s compensation during his tenure is considered higher than companies that are considered Boeing’s competitors and peers, including Ford, 3M, Caterpillar and Microsoft.

According to Barron’s, CEOs of Boeing’s peer companies earned an average compensation of $25 million last year — this despite the fact that the stock prices of those companies have gained a little more than 13% a year over the course of the past five years.

In contrast, Boeing’s stock price has fallen by 50% during that five-year stretch, or around 12% on average.

Calhoun said Monday he will step down at the end of the year amid a wider shakeup that also includes the companys chairman, Larry Kellner, and Stan Deal.

Kellner will step down from the board of directors in May while Deal, president and CEO of Boeing Commercial Airplanes, is resigning effective immediately.

Steve Mollenkopf, former CEO of tech giant Qualcomm, will be Boeings new board chairman, succeeding Kellner. He will oversee the search for Calhoun’s successor.

On Jan. 5, the rear door plug of a Boeing 737 Max 9 passenger plane operated by Alaska Airlines came loose in mid-flight resulting in the FAA ordering the grounding of the same model of aircraft for weeks.

Calhoun who fought back tears while acknowledging our mistake that caused the blowout at 16,000 feet and led to an emergency landing reportedly encouraged airline CEOs to meet with the company’s board to air their frustrations over Boeing’s production problems.

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Reddick wins in Talladega after McDowell crashes

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Reddick wins in Talladega after McDowell crashes

TALLADEGA, Ala. — Tyler Reddick stole a NASCAR Cup victory at Talladega Superspeedway when front-runner Michael McDowell, swerving up and down the track trying to block Brad Keselowski, wound up crashing with the finish line in sight Sunday.

It was another wild Talladega finish — and set off a raucous celebration on pit road with one of Reddick’s team owners, Basketball Hall of Famer Michael Jordan.

“This is like an NBA playoff game,” Jordan said in Victory Lane. “I’m so ecstatic.”

McDowell, the pole-sitter, dominated the closing laps and was in position to give Ford its much-needed first victory of the year. But his topsy-turvy efforts to block Keselowski — another Ford driver — wound up costing them both.

McDowell spun out, Keselowski had to check up and Reddick sped by to claim his sixth career Cup victory by 0.208 seconds.

A pile of cars behind them was taken out, as well. Corey LaJoie’s No. 7 machine slid across the finish line on its side, pinned against the wall in front the massive grandstands.

Reddick climbed out of his No. 45 car and scurried up the fence like Spider-Man.

“That was crazy, fans,” he screamed. “Chaos. Typical Talladega.”

Keselowski settled for the runner-up spot, failing again to pick up his first win since 2021 at this 2.66-mile trioval in east Alabama.

“We went to make a move and Michael covered it,” Keselowski said. “We went the other way and had nowhere to go when Michael came back down. It’s just the way this stuff goes.”

Reddick’s victory redeemed a botched strategy that knocked out a bunch of Toyota contenders, including his team co-owner, Denny Hamlin.

All three Toyota teams pitted in tandem with 37 laps to go, going with a strategy that would’ve allowed them to push the pace on the rest of the fuel-saving field — with an idea of drafting all the way to the front for the checkered flag.

Unfortunately, they couldn’t keep their cars straight.

Just four laps later, with the Toyota train running at a blistering, single-file pace and chasing down the lead pack, John Hunter Nemechek appeared to get into the bumper of Bubba Wallace’s No. 23 machine, which clipped Erik Jones and sent him smashing hard into the outside wall.

Nemechek then slid down the track and took out Hamlin, as well.

“We had a plan,” Wallace said. “We just didn’t execute it as well as we should have. I hate it. It doesn’t make us look good at all.”

Jones took the brunt of the blow, a crash that would’ve been much worse without the sturdy cars and foamy barriers.

“I’m a little sore, but I’m all right,” Jones said after exiting the infield care center. “If you’re gonna be dumb, you’ve got to be tough.”

Reddick was at the front of the pack and avoided the crash.

In the end, he was able to celebrate an improbable win.

CLEAN RACING: Unlike the wacky finish, the first two stages were caution-free — the first time that’s happened at Talladega since the stage system was instituted in 2017. Many drivers were focused on saving fuel and there weren’t many bold moves.

Finally, on lap 132, with the cars three-wide and tightly bunched in the middle of a huge train, the first occurred.

Justin Haley got a bump from behind and went spinning into Christopher Bell, whose car sustained heavy damage that left him with a last-place finish.

IMPRESSIVE KIWI: Shane Van Gisbergen turned in a strong run in the first oval race of his burgeoning NASCAR Cup career.

The stunning winner of the Chicago street race in his Cup debut last summer, Van Gisbergen showed the depth of his talent by leading laps and staying out of trouble at the harrowing 2.66-mile trioval until the very end.

Unfortunately for the 34-year-old from New Zealand, he got caught up in the final melee and didn’t make it across the line. He finished 27th.

STARTING AT THE BACK: Season points leader Kyle Larson started the race with a huge disadvantage after his team was penalized for altering the roof rails on his No. 5 car on the way to the qualifying line Saturday.

Larson, who had won three straight poles, was barred from qualifying, forced to start from the back of the field and ordered to do a drive-through penalty on the opening lap. He was least a half-lap behind the field by the time he got up to speed and, without anyone to draft with, was caught by the leaders on the 12th lap.

NASCAR also ejected Larson’s car chief, Jesse Saunders, from the speedway.

Larson was able to work his way back into the mix but he wasn’t a contender at the end. He finished 20th.

UP NEXT: The Cup series heads next Sunday to Dover Motor Speedway, where Martin Truex Jr. won the race a year ago.

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Love, 19, claims first Xfinity win in Talladega

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Love, 19, claims first Xfinity win in Talladega

TALLADEGA, Ala. — Nineteen-year-old rookie Jesse Love won the first NASCAR Xfinity Series of his career in a crash-marred, double-overtime finish at Talladega Superspeedway on Saturday.

Love held off Brennan Poole, who pulled alongside roaring into the trioval, and took the checkered flag 0.141 seconds ahead of Riley Herbst. Anthony Alfredo and Leland Honeyman claimed the next two spots, Poole faded to fifth and one last crash sent Joey Gase spinning behind the frontrunners.

“Let’s go playoff racing!” Love screamed over the radio.

Hailie Deegan went into the final restart with a shot at becoming the highest-finishing woman in Xfinity Series history, but she slipped all the way to 12th. Danica Patrick retains the distinction with a fourth-place showing at Las Vegas in 2011.

Pole-sitter Austin Hill — Love’s teammate at Richard Childress Racing — won the first stage, led a race-high 41 laps and was at the front of an 18-car train with two laps to go when the usual Talladega chaos erupted.

Parker Kligerman appeared to give Hill a couple of slight taps to the rear bumper, though Kligerman insisted over his radio that he never touched the leader’s car. Nevertheless, Hill suddenly went into a spin that ended his hopes of his third victory of the season and sent the race to overtime.

Kligerman was out front when the green flag waved, but that didn’t last long. Shane Van Gisbergen appeared to run out of gas and Love got into Kligerman going for lead, sending the the No. 48 car smashing into the wall.

Several other contenders had to duck into the pits for fuel before the second overtime, which extended the race from 113 to 124 laps.

In the end, Love had enough fuel to get to the line, erasing memories of another strong run at Atlanta where he went dry at the end.

Chandler Smith comes in as points leader, but finished 25th.

Early in the final stage, the first big crash of the day collected at least a dozen cars, knocking four of them out of the race.

Kligerman and Ryan Sieg sparked the incident on lap 65, trading paint when both went for an opening in the middle of the track during three-wide racing through the trioval. That slight bump set off a chain-reaction crash that left cars spinning, sliding and smashing into each other from the outer wall to the inside grass.

“You have to be aggressive,” said Brandon Jones, whose car was too damaged to continue. “The only way be aggressive is to get up front.”

The day also ended for Sam Mayer, Jeremy Clements and Ryan Truex, while several cars returned to the track with significant damage. A.J. Allmendinger kept going with with his rear bumper cover barely hanging on.

Mayer has failed to finish four of the first nine races, but he’s locked into the playoff after winning last week at Texas in a photo finish with Sieg.

Teenagers won both preliminary races at Talladega leading up to the NASCAR Cup race on Sunday.

Before Love took the checkered flag, 18-year-old Jake Finch led from start to finish in the ARCA Menards Series event.

Justin Allgaier, who came into Talladega ranked fourth in the point standings, was the first one out of the race.

His No. 7 Chevrolet got loose coming off of turn two while running in a big pack of cars, sliding sideways off the track and smashing hard into an inside wall.

Allgaier wasn’t injured, but the 38th-place finish was by far his worst of the season.

“A disappointing day,” he said. “The car was fast.”

Allgaier remained tied with Kyle Busch for the most top-10 finishes in Xfinity Series history with 266. He equaled the mark last week with a third-place showing at Texas.

It was a tough day for JR Motorsports, which had three of its four drivers — Allgaier, Mayer and Jones — wiped out by crashes. Sammy Smith was the only one to make it to the checkered flag in 21st.

The Associated Press contributed to this story.

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Baby saved from womb of mother killed in Israeli strike

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Baby saved from womb of mother killed in Israeli strike

Palestinians in Rafah are reeling from a series of devastating Israeli airstrikes that have killed 22 people – including 18 children.

The last 48 hours, horrific even by Gaza’s standards, are an indicator of what may follow in any Israeli Rafah offensive.

Doctors told the Sky News team in Gaza how they saved the life of an unborn baby even as her mother was dying from head injuries.

Follow latest: Netanyahu vows to ‘increase pressure on Hamas in coming days’

“We tried to rescue the patient,” Dr Ahmad Fawzi said.

“We realised that she was pregnant.

“We had to do an emergency caesarean to save the baby.

“Thanks to God, we managed to save the baby.”

A medic holds a Palestinian newborn girl after she was pulled alive from the womb of her mother Sabreen Al-Sheikh (Al-Sakani), who was killed in an Israeli strike, along with her husband Shokri and her daughter Malak, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, at a hospital in Rafah in the southern Gaza Strip, in this still image taken from a video recorded April 20, 2024. Reuters TV via REUTERS
Image:
The Palestinian baby girl was saved from the womb of her mother. Pic: Reuters

The little girl lies in an incubator.

She has no name but there is tape attached to her hand with writing that says: “The baby of the martyr Sabreen al Sakani”.

The baby’s mother Sabreen, her father Shoukri, and three-year-old sister Malak all died in the Israeli airstrike.

Her uncle says he will care for her now.

The Palestinian baby girl was saved from the womb of her mother. Pic: Reuters
Image:
The Palestinian baby girl was saved from the womb of her mother. Pic: Reuters

Also in Rafah, another airstrike killed 17 children and two women all from the same extended family, say Palestinians.

There were heartbreaking scenes at the hospital as relatives mourned the children being placed in body bags.

A relative, Umm Kareem, told how the children were killed as they slept in their beds, saying: “These children were sleeping. What did they do? What was their fault?

“Pregnant women at home, sleeping children, the husband’s aunt is 80 years old.

“What did this woman do? Did she fire missiles? We complain about our concerns to God.”

The strikes, all in Rafah, have provoked unusually sharp criticism of Israel by the UK government.

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Families mourn as airstrike kills children

Lord Ahmad, foreign minister for the Middle East, tweeted that he was “appalled by the Israeli strike, on a residential apartment in the densely populated Rafah in Gaza, which resulted in more children being killed”.

“We must stop this fighting immediately and bring an end to this conflict,” he added.

But there is no end in sight. Quite the opposite.

Read more:
Trail of destruction in Lebanon’s ‘ghost towns’
Situation in northern Israel ‘untenable’
Are Israel and Lebanon heading for war?

In an address to the nation ahead of Passover, Israeli Prime Minister Benjamin Netanyahu used language from the Bible to hint at what might be coming for Rafah.

The enemy, he said, is “hardening its heart and refusing to let our people go”.

“Therefore, we will strike it with additional painful blows – and this will happen soon,” he added.

Israel’s government says it must take the fight to Hamas in Rafah to bring back its hostages and destroy the enemy, but far more civilians are being killed than Hamas fighters in this war.

Rafah is the most densely-populated area of Gaza. And when the offensive begins here, many more will die.

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