« Alex Acosta let the cat out of the bag: the Justice Department knew all about the Jeffrey Epstein Florida plea deal | Main | Open Thread 19 July 2019 »

17 July 2019

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

According to Reuters, Boeing is saying none of this a settlement to the families of the victims of the two crashes. Additionally, Reuters states that the money is to go to charities and government programs that help in the communities most effected.

Some of the families are angry not about the amount or target of the $100 million payout, but because Boeing announced the $100 million payment and now people are calling them (the families) thinking it is a settlement and asking if the money has been received yet. This is, according to the Ethiopians, a dangerous state of affairs because kidnapping for ransom and theft are so prevalent in the country.

Actually, even if it was the payout to families, it's not too far off the mark. We have 346 victims. According to the reports you quote, $50 million goes to the surviving family members. So that's $144,500 per victim - or $4.19 million Ethiopian Birr. That translates to 11X the average annual income in Ethiopia. 11X the avg American annual income would be about $535,000; which is typical of a settlement for this kind of tragedy in 2019 dollars. So the Ethiopians would be getting the American equivalent of the settlement (I didn't bother to breakout to Indonesian currency/salary equivalent, etc).

But Reuters says that Boeing says the $100 million is not the settlement on the lawsuits.

A couple of other points;
1. The settlement money - whatever it turns out to be - isn't going to bring the lost loved ones back
2. If Boeing really did willfully and wantonly disregard known critical safety issues that caused the crashes, then, IMO, some kind of criminal proceedings are in order as well as massive punitive damages to a level that really hurts - of course we will never see criminal action taken even if it should be and the punitive damages are even questionable; they'd take a good long fight.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)

My Photo

January 2020

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  
Blog powered by Typepad