Lovely day outside, so naturally I’m here at The Herald, working on an update for Sunday’s paper on the Machinist union contract talks. (The union’s preparing a counter to Boeing’s Friday night offer, and should deliver it sometime in the next hour or so.)
Things are not going smoothly. The union’s Negotiation Status meter now sits at “red alert,” meaning that in the minds of leadership, at least, a strike is looming. (See for yourself: http://www.iam751.org/contract2005/index.htm)
Here are some Saturday stories on the talks, from Bloomberg News http://www.bloomberg.com/apps/news?pid=10000087&sid=aWA.6gVHFug4&refer=top_world_news and The Associated Press http://www.miami.com/mld/miamiherald/business/national/12490710.htm
Key Quote, from Bloomberg: “In 2000, about 19,000 Boeing engineers staged one of the largest white-collar walkouts in U.S. history because of disagreements over pay, health care and research spending. The strike was the union’s first extended work stoppage and led to a decline of as much as 32 percent in Boeing’s stock. The machinists struck in 1989 and 1995, slowing production, and threatened a strike up to the last minute of negotiations in 1999.”
Key Quote, from AP: “Boeing touted its revised offer as an enhancement of ‘one of the best total compensation packages in our industry.’ It includes no general wage increase but offers two, $2,000 cash payments in the first year of the three-year proposal – one upon ratification. There is an option to roll the second payment into a voluntary investment plan – Boeing’s version of a 401 (k) – with a 50 percent company match.”
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