I’ll give her former South Carolina Governor Nikki Haley for standing for her principles. Not many people do that.

Haley resigned her post on Boeing’s board of directors because she doesn’t care too much for the company seeking a bailout from the government during the coronavirus crisis.

We keep embracing “too big to fail” logic and it’ll never end, and we won’t have anything resembling a free market anymore. It’ll result in full-blown state corporatism.

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At some point, we need to accept that some things get so big that they need to fail to prevent stagnation

The key to helping small businesses right now is accessibility to loans and credit lines. Banks need to have the flexibility to lend. No need for hand outs as much as we need to focus on a helping hand to weather the storm for those who need it.

— Nikki Haley (@NikkiHaley) March 19, 2020

Former US Ambassador to the UN Nikki Haley has resigned from the board of Boeing over the plane maker’s efforts to receive federal assistance because of the coronavirus pandemic, according to a report.

“Ambassador Haley informed the Company that, as a matter of philosophical principle, she does not believe that the Company should seek support from the Federal Government, and therefore decided to resign from the Board,” according to Boeing’s filing with the Securities and Exchange Commission, NPR reported.

In her letter of resignation, the former South Carolina governor wrote, “As we encounter the Covid-19 crisis, Boeing, along with many other companies, face another major set of challenges.

“I want to be part of helping the company as it pushes through it. However, the board and executive team are going in a direction I cannot support,” Haley wrote.

“While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses. 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.” [NY Post]

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Pres. Trump has already made the decision to help the airlines:

President Trump said earlier this week that the government would provide financial assistance to Boeing as the entire aviation sector faces economic turmoil over the pandemic.

Boeing has been struggling to win approval from regulators for its 737 Max to return to service after two fatal crashes in five months.

Important to remember over 90% of our economy is small business. When thinking of any economic acts, small business should be the priority. ❤️🇺🇸

— Nikki Haley (@NikkiHaley) March 20, 2020

I’m not usually for governments intervening, but the cost is astronomical if Boeing goes out of business. You’re looking at over 2 million workers between Boeing and companies that work for them. The results would be catastrophic.

All of this isn’t related to Boeing’s issue with the 737 Max. Personally, I believe the government has dragged its feet getting the 737 Max approved and back in the air. I think if Trump told the FAA to fast track it, it would get done quickly.

Boeing helped to save the US in WW2 with the B-29, and they are an important company.

All of this is NOT their fault but I do respect Haley’s decision.

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This piece was written by Wayne Dupree on March 20, 2020. It originally appeared in WayneDupree.com and is used by permission.

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