Lots of reporters spent a lot of time talking to analysts Monday about the proposed settlement in the Boeing/Machinists strike. Conventional wisdom seems to be that the Machinists are getting what they wanted most and Boeing won’t have to give up too much to settle the strike. Therefore, analysts say, call it a win-win.
Key Quote, from Reuters http://www.washingtonpost.com/wp-dyn/content/article/2005/09/26/AR2005092600899.html : ” ‘Versus the positions as we went into the strike, Boeing certainly looks like they did give more,’ said Cai Von Rumohr, an analyst with SG Cowen. But he added that a prolonged strike ‘would cost both sides more, so getting it settled earlier is definitely better.’ “
Key Quote, from the Associated Press http://www.indystar.com/apps/pbcs.dll/article?AID=/20050927/BUSINESS/509270364/1003/BUSINESS : “Leaders of Machinists District Lodge 751 in Seattle say the deal is ‘a victory for working families across the country’ that addresses the issues most important to its members … The company says the total cost is similar to its previous offer, and analysts say the resolution allows the company to quickly regain the momentum it needs to continue its heated battle with rival Airbus.”
Key Quote, from USA Today http://www.usatoday.com/money/industries/manufacturing/2005-09-26-boeing-usat_x.htm : “‘It’s a big win for both parties,’ says Chris Lozier, analyst at research firm Morningstar. ‘The strike won’t cost them any revenue. Labor won in the sense that they got their priorities fulfilled.’”
My sense is that Machinists will accept the contract — that was the prevailing opinion out on the Everett picket line Monday. http://www.heraldnet.com/stories/05/09/27/100loc_machinists001.cfm
Key Quote: “‘This one’s better,’ said Gary Johnson of Mill Creek. ‘Sure, I’ll take the retirement pay and no take-aways on health care.’”
And it sounds like the contract got a favorable reaction in Wichita … http://www.kansas.com/mld/kansas/business/12749347.htm
Key Quote: “Striking Machinists manning the entrances to the local Boeing plant on Monday said they were very happy with — and surprised by — Boeing’s new contract offer.”
… and also in Portland http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/112781868919950.xml&coll=7
Key Quote: ” ‘Neither side likes it, and both can live with it, and that’s a fair offer,’ said Ralph Drake, 64, a maintenance lead from Vancouver. ‘It’s where I thought it would be. It should have been that way a month ago.’ “
But it’s not a slam-dunk. I’m hearing this morning from some who think they could win a better deal by staying out longer. Another thinks the union team should have pushed harder to get Boeing to contribute to the IAM’s own pension program. And some are noting that the 8 percent ratification bonus doesn’t mean much for workers who’ve only been back on the job a few months.
“If my math serves me correctly, 8% of nothing is still nothing,” says the most recent e-mail.
So … the lines are open for your comments — just remember Rule No. 1 and play nice.
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