The union representing engineers at Boeing Co.’s military aircraft plant in Wichita, Kan., urged its members Friday to reject what Boeing calls its final contract offer. Bob Brewer, Midwest director for the Society of Professional Engineering Employees in Aerospace, said the union hopes to get workers to reject the contract and get the company back to the negotiating table. Thursday’s vote will not include a strike authorization at Boeing’s Integrated Defense Systems facility in Wichita, where the union represents 700 engineers.
Airbus to set up parts plant in China
Airbus said Friday it has reached a deal with Chinese partners to set up a manufacturing center for aircraft composite parts in the northern city of Harbin. The joint venture is expected to reap $100 million in annual revenue starting in 2015, Airbus spokesman Stefan Schaffrath said. It will be half-owned by Harbin Aircraft Industry Group and 20 percent-owned by Airbus China, while three other Chinese partners will each have 10 percent stakes. The center will produce composite material parts and components for the Airbus A350 XWB program and for A320 family airplanes, the European aircraft maker said in a statement.
Safety commission delays lead-testing rules
U.S. makers and sellers of toys, clothing and other children’s products will get an extra year to comply with certain lead and chemical testing rules. Members of the Consumer Product Safety Commission voted unanimously Friday to hold off on a Feb. 10 deadline in which manufacturers were to sell only products that have been tested for lead and other harmful substances. Last summer, lawmakers imposed the toughest lead standards in the world, banning lead beyond minute levels in products for children 12 or younger. Former President George W. Bush signed the measure in August. The act came after millions of recalled toys and children’s items, many of which were from China. The rules concerned stores selling used clothing because they couldn’t afford to test their items for lead. The new deadline is Feb. 10, 2010.
Cold January bodes poorly for Wall Street
It’s been an unusually cold January on Wall Street. The Standard &Poor’s 500 index was down 8.57 percent for the month, its worst January ever and a worrisome sign for investors who see the first month as a trendsetter for the 11 that follow. They’re believers in the January Barometer: As January goes, so goes the year. Since 1950, there have been only five times when January got it wrong in a big way. That gives it an accuracy ratio of 91.4 percent. Throw in the 10 years since then when the market hasn’t moved much in a year, and January is still accurate 74.1 percent of the time, according to the Stock Trader’s Almanac, which tracks market trends.
From Herald staff and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
