This "heads they win tails we lose" system is the thing that seems odd. They make millions on the theory that they take responsibility for things... If the union guys aren't doing their job: fix it. If some engineers aren't doing their job: fix it. Otherwise what are they getting paid so much for?
Also I don’t think executive pay has any relation to what I am alleging, which is that part of the blame lies on old boys clubs and unions. Executive pay is determined by its own market of supply and demand. Sure they get some of the blame but there are limits to what is possible even for the best of executives. Also consider that the sum of executive pay is a lot less than the sum of the assembly line pay, so even by your own logic the responsibility cannot be solely at the top.
That said I totally agree that Boeing executives have largely failed, and the choices made by the board in appointing finance people or old guard from other aerospace companies is a big part of the problem.