Boeing wants big pension, health care cuts in 777X deal
http://www.thenewstribune.com/2013/11/05/2874244/boeing-wants-big-pension-health.htmlBoeing wants big pension, health care cuts in 777X deal
By DOMINIC GATES The Seattle Times
Published: November 5, 2013
Boeing is asking the Machinists union to agree to big cuts in future pension and health care benefits in exchange for placing manufacturing work on the forthcoming 777X jet in Washington state, according to details of the offer leaked to The Seattle Times through union representatives.
The proposed deal would span eight years from the end of the current contract in 2016, ensuring a full decade of labor peace for the company.
A vote of the membership could be set this week, likely for Wednesday, Nov. 13, according to union sources.
The union leadership is expected not to offer any recommendation on what way to vote, but will instead tell members: vote your conscience.
SDjack
(1,448 posts)cutting executive and managerial compensation by 2x the percentage of labor pay reduction. Ya, sure they are.
KeepItReal
(7,769 posts)There is some right wing pathology at play with these people that has nothing to do with profitability:
Boeing said its third-quarter earnings rose 12 percent to $1.16 billion, or $1.51 a share, from $1 billion, or $1.35 a share, a year earlier. Revenue increased 11 percent, to $22.13 billion from $20 billion.
Excluding pension costs and other ancillary items, Boeing said its core operating earnings rose 20 percent in the third quarter to $2.14 billion, or $1.80 a share, from $1.79 billion, or $1.55 a share, a year earlier. By this measure, analysts had expected the company to earn about $1.50 a share in the latest quarter.
Based on conventional accounting methods, Boeing said it now expected earnings of $5.40 to $5.55 a share for 2013, up from its July forecast of $5.10 to $5.30. In terms of core earnings, it expected earnings of $6.50 to $6.65 a share for 2013.
http://mobile.nytimes.com/2013/10/24/business/boeing-profit-exceeds-estimates.html
Brickbat
(19,339 posts)Things like, "You guys give up pensions and job protection, and we'll give up demands that you blow us every morning before your shift starts."
Manufacturing in Washington would help the company. Outsourcing from their established workforce hurt the company -- it's a fact. This is like meta-negotiating.
Goose, golden egg, etc.
feathateathn
(15 posts)FedGov needs to nationalize Boeing. FedGov could run Boeing much more efficiently and ethically. While they are at it, FedGov needs to establish a national air carrier, like every other civilized nation. An "Amtrak" for the skies, if you will. Give the greedy corporate airlines a run for their money, eventually run them out of business. Greed has no place in air travel. The skies are public property.