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Same story from the Associated Press: https://apnews.com/article/boeing-contract-vote-strike-machinists-union-5237a31660b0a06381457e33f9a72369 https://apnews.co

Same story from the Associated Press: https://apnews.com/article/boeing-contract-vote-strike-machinists-union-5237a31660b0a06381457e33f9a72369 https://apnews.com/article/boeing-contract-vote-strike-machi...

johnnyanmac 2y ago
>Although she voted “yes,” Seattle-based calibration specialist Eep Bolaño said the outcome was “most certainly not a victory.” Bolaño said she and her fellow workers made a wise but infuriating choice to accept the offer. >“We were threatened by a company that was crippled, dying, bleeding on the ground, and us as one of the biggest unions in the country couldn’t even extract two-thirds of our demands from them. This is humiliating,” she said. Yeah. I never expected the pensions to return, sadly. But 38% over 4 year after a 2 month walkout seems like this strike more or less settled. For reference: >Machinists voted down another offer — 35% raises over four years, and still no revival of pensions — on Oct. 23, the same day that Boeing reported a third-quarter loss of more than $6 billion. I can't blame them at the end of the day because mouths need to be fed, but this paints a grim picture in my eyes. The only way this can be salvaged is if someone in the background is giving other deals like what happened with the train strike (which we wouldn't hear about for months on end).
- nisegami 2y ago
  Considering Boeing's prospects, what faith could there be in a pension plan tied to their company?
  - johnnyanmac 2y ago
    Boeing is a vital defense contractor, despite all the PR disasters. They are definitely in the territory of government bailout if they were truly to go under. Would I bet on Boeing being alive in 40 years? Not really, not without a huge overhaul in their business. Would I bet on them being alive in 15 years when I retire? Probably.
    - nisegami 2y ago
      I agree that Boeing will still exist in some capacity in the near-medium future. But a healthy pension fund requires more than just existing in my opinion. It needs a healthy, young base of employees who are contributing while you're retired and good governance of investments.
- selimthegrim 2y ago
  What happened with the train strike?
  - johnnyanmac 2y ago
    The bad news: the government stepped in and ruled the strike illegal. So horrible PR. December 2nd, 2022: https://www.reuters.com/world/us/biden-signs-bill-block-us-railroad-strike-2022-12-02/ https://www.reuters.com/world/us/biden-signs-bill-block-us-r... They did get a pay raise, but the main issue was over paid sick days and this was denied. My only small sympathy is that this was still at the tail end of the pandemic. So the strike could have legitimately made things really bad and accelerated a recession. ----------- Good news: There were still negotiations, and mid-february 2023 a few unions announces a deal that would give them 4 sick days + 3 personal days to convert to sick days. They apparently credit the senate for putting pressure on the railroads to allow this. So despite calling off the strikes, there was essentially more negotiations behind the scene to prevent long term damages to morale (i.e. workers simply retiring early or otherwise leaving the industry).
deleted 2y ago
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johnnyanmac 2y ago

>Although she voted “yes,” Seattle-based calibration specialist Eep Bolaño said the outcome was “most certainly not a victory.” Bolaño said she and her fellow workers made a wise but infuriating choice to accept the offer. >“We were threatened by a company that was crippled, dying, bleeding on the ground, and us as one of the biggest unions in the country couldn’t even extract two-thirds of our demands from them. This is humiliating,” she said. Yeah. I never expected the pensions to return, sadly. But 38% over 4 year after a 2 month walkout seems like this strike more or less settled. For reference: >Machinists voted down another offer — 35% raises over four years, and still no revival of pensions — on Oct. 23, the same day that Boeing reported a third-quarter loss of more than $6 billion. I can't blame them at the end of the day because mouths need to be fed, but this paints a grim picture in my eyes. The only way this can be salvaged is if someone in the background is giving other deals like what happened with the train strike (which we wouldn't hear about for months on end).

nisegami 2y ago
Considering Boeing's prospects, what faith could there be in a pension plan tied to their company?
- johnnyanmac 2y ago
  Boeing is a vital defense contractor, despite all the PR disasters. They are definitely in the territory of government bailout if they were truly to go under. Would I bet on Boeing being alive in 40 years? Not really, not without a huge overhaul in their business. Would I bet on them being alive in 15 years when I retire? Probably.
  - nisegami 2y ago
    I agree that Boeing will still exist in some capacity in the near-medium future. But a healthy pension fund requires more than just existing in my opinion. It needs a healthy, young base of employees who are contributing while you're retired and good governance of investments.
selimthegrim 2y ago
What happened with the train strike?
- johnnyanmac 2y ago
  The bad news: the government stepped in and ruled the strike illegal. So horrible PR. December 2nd, 2022: https://www.reuters.com/world/us/biden-signs-bill-block-us-railroad-strike-2022-12-02/ https://www.reuters.com/world/us/biden-signs-bill-block-us-r... They did get a pay raise, but the main issue was over paid sick days and this was denied. My only small sympathy is that this was still at the tail end of the pandemic. So the strike could have legitimately made things really bad and accelerated a recession. ----------- Good news: There were still negotiations, and mid-february 2023 a few unions announces a deal that would give them 4 sick days + 3 personal days to convert to sick days. They apparently credit the senate for putting pressure on the railroads to allow this. So despite calling off the strikes, there was essentially more negotiations behind the scene to prevent long term damages to morale (i.e. workers simply retiring early or otherwise leaving the industry).

deleted 2y ago

[deleted]