Omaha Steve's Labor Group

unhappycamper

(60,364 posts) Wed Nov 6, 2013, 09:42 AM Nov 2013

Boeing wants big pension, health care cuts in 777X deal

http://www.thenewstribune.com/2013/11/05/2874244/boeing-wants-big-pension-health.html

Boeing 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.”

4 replies

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Highlight:

Boeing wants big pension, health care cuts in 777X deal (Original Post) unhappycamper Nov 2013 OP

Boeing, of course, is showing the need for reduction in labor costs by SDjack Nov 2013 #1

Boeing is rolling in new jet orders but pinching pennies from unions? KeepItReal Nov 2013 #2

Management has been taking notes on Republican negotiation. Brickbat Nov 2013 #3

disgusting feathateathn Nov 2013 #4

SDjack

(1,448 posts)

1. Boeing, of course, is showing the need for reduction in labor costs by

Reply to unhappycamper (Original post)

Wed Nov 6, 2013, 09:52 AM

Nov 2013

cutting executive and managerial compensation by 2x the percentage of labor pay reduction. Ya, sure they are.

KeepItReal

(7,769 posts)

2. Boeing is rolling in new jet orders but pinching pennies from unions?

Reply to unhappycamper (Original post)

Wed Nov 6, 2013, 10:02 AM

Nov 2013

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)

3. Management has been taking notes on Republican negotiation.

Reply to unhappycamper (Original post)

Wed Nov 6, 2013, 10:22 AM

Nov 2013

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)

4. disgusting

Reply to unhappycamper (Original post)

Wed Nov 6, 2013, 12:03 PM

Nov 2013

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.

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