SPEEA negotiations with The Boeing Company continued Thursday (Jan. 10) with little progress on key issues.
Our teams reminded Boeing that with record profits, a completely funded pension, 4,200 airplanes on backorder and $20 billion of cash on hand, it doesn’t make sense to cut wage growth, cut pension growth, eliminate the pension for future hires and raise medical costs for everyone.
Signifying the importance of our efforts to secure a respectful contract with Boeing, IFPTE President Greg Junemann visited the teams at the hotel and then attended today’s SPEEA Council meeting to reiterate the support of our international union.
Negotiations are scheduled to resume at 9 a.m., Friday.
Boeing could have just taken Jim Mc nerney's bonus and put it towards all the take aways they want to give speea,and they still would have came out ahead.But heck speea only designed the 787.Boeing just took #1 spot from Airbus, is giving shareholders a 10% dividend increase,and doing a 3 Billion dollar stock buy back starting next month.Speea needs to take some consessions so the company can remain competitive.Engineers add little value to the plane,so you and your families and future generations need to get on board and help the Boeing family out.
I believe that Boeing should at least fund their pension obligations 100% instead of a stock buyback. They are looking after their stockholders and "profits on the books" before the people that worked for their retirement as an incentive to dedicate themselves to the ups and downs the company has gone thru.
It only seems like the right thing for Boeing to do instead of "hoping" their pension investments make up for any shortfall and obligations.
Their obligation to the retirement fund should be prioritized over the stockholders instead of trying to get their bonuses based on the stock price(although they still seem to get bonuses regardless of the stock price).