I am a union machinist and have been with Boeing for more than 25 years. It is my opinion that the contract that was rejected was a fair one for both sides.
The Boeing Co. and the machinist union workers are at brief impasse in resolving benefit issues to secure a new labor contract for 2005-2008. Though not publicized, the Sept. 1 Boeing contract offer contains significantly increased benefits:
* Life insurance and accidental death and dismemberment insurance increased $2,000.
* Weekly non-occupational disability benefits are increased.
* Dental coverage increased $250.
* Hearing aid allowance increased $200.
* Contact lens increased $120.
* Eyeglass frames increased $90.
* Lifetime medical increased $250,000.
* Flexible medical spending accounts added.
* Suggestion system increased to $5,000.
* Third year 2.5 percent general wage increase.
* $3,000 ratification bonus plus 50 percent matching if in employee’s 401(k).
* Second year $3,000 bonus plus 50 percent matching if in employee’s 401(k).
It is my opinion that it is fair for the employees to share the increased burden of medical insurance coverage with Boeing by accepting reasonable increases in employee contributions.
Analysis of the growth potential of the offered bonuses and matching VIP funds at a conservative rate of 10 percent, indicates that the $9,000 total investment would yield about $15,000 over five years. If those bonuses and matching funds were replaced by a negotiated $75/month/service year retirement (current offer = $66) the difference would yield only $13,500 for the same period.
The machinist union members were not presented with sufficiently accurate information and comparative data for their analysis before they voted to go on strike. The union leadership and negotiators need to return to the bargaining table and bring a responsible, carefully explained contract to the members for their vote.
Joseph P. Fortin
Marysville
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