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The Boeing Company Message Board

  • investorzzo investorzzo Dec 28, 2013 2:55 PM Flag

    A machinist thoughts

    Part 1
    There are many reasons why I am voting no. The more you dig into this the more you find out just how unsavory the whole thing is. Why Mr. Buffenbarger did you in a video in the past said never, ever give up your pension! Why the sudden change?
    Is it all about union dues and keeping the members money flowing in? Has the man been bought off? I could go into the fact that Boeing most likely will make $25 billion off our yes vote.
    Most likely 15 billion will be from the pension, no longer having to put money into it.
    8.7 billion will come from the state of Washington tax payers. If you're wondering how I came up with the 15 billion it was an article Thursday before last. Stating that Ford had saved 10 billion in being rid of their pension. That GE would and Boeing would benefit also. Perhaps this is where Boeing got it's 10 billion to buyback stock from the Speea pension.
    I can go into the fact that over 11 years and this contract you will be stuck even if inflation soars. Never mind that the government lies about it's cola formula. Or the fact that under the lawyers writing Boeing they could offload any or all parts of the 777x wings at any time.
    With the fact that Mcnearney gets 264,000 a month on his pension. But be grudges it's union folks to the 2 to 4000 on theirs, and to get that 4000 takes 45 years.
    Not only that, Mcnearney is pushing for employees to not get so security till their 70. I get the feeling they hope all die off before we ever get a dime of our pension.
    But what is the real story. Could it be based on the illusion of money. The fact that our purchasing power has dropped 95% over the last hundred years. Thanks to the Federal Reserve and our politicians. How do you destroy a country within, by destroying its currency. Dumbing down the population so much they don't even notice it. It's the old story, put a frog in hot water it jumps out, put the frog in Warmwater and slowly turn it up, the frog dies.

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    • A pension is only as good as the company that backs it up. If Boeing went BK, forget your pension! I'll take the money in a 401K anytime because the money in a 401K is mine to keep!

    • What in the world has occurred that makes you believe you are entitled to ANYTHING ???? Boeing has made you an offer.....take it.........or leave it.

    • Thou thinkest to much
      about pensions. Your
      missing the big picture.
      There is nothing wrong
      with a 401K.
      This is about the future
      of where you are living,
      The value of your home,
      your job security,
      the quality of life of your
      neighborhood should
      Boeing pack up and leave.

    • Now can you really say that IAM751 has represented Boeing members the way they should? I think not!

      I do believe that the workers in Everett/Seattle and other areas that make this company great should think about new union representation. I am so tired of the the International and local union screwing everything up by not being on the same page!

    • We look at it with concern; we want SPEEA to be successful in the pension issue,” said Tom Wroblewski, president of International Association of Machinists and Aerospace Workers, District Lodge 751. “When they (Boeing) want to take that away, that’s like giving away a big chunk of what you’ve already negotiated. It’s a huge takeaway.”

      Also watching closely are retired machinists, said Carl Schwartz, a 33-year veteran of Boeing who retired in 1995 and who chairs the legislative committee of the Machinists Retiree Club, with about 8,000 members.

      “It is a concern,” he said, “because once they start eroding away this concept of defined pension, then of course the attack will be on those who are already receiving it.”

      And Wroblewski, the machinists’ union president, said he particularly doesn’t like the way Boeing is approaching the issue, which is to pressure SPEEA into accepting a 401(k) plan for new hires only.

    • HEY INVESTORZZO ... hat GE would and Boeing would benefit also. Perhaps this is where Boeing got it's 10 billion to buyback stock from the Speea pension. .


      How you non participating twits come up with such #$%$ ol a is amazing

      available on the boeing site for all to see is the BCERP ( pension) documents aka SPD- IAM and SPEEA and a half dozen other unions are under the same plan- with only differences in basic benefit xx$/year differences, and in the case of SPEEA, newbies not in the plan.

      Funding for BCERP for the last three years is also avaialable on the Boeing site, and shows a 2 plus Billion ' surplus" - there are about a half dozen other plans in Boeing.

      Funding cannot be transfered as you claim

      Dont let your mother catch you playing with her computer !!

      • 2 Replies to donwshuper50
      • Boeing had an underfunded pension liability of $16.5 billion at the end of 2011, as counted under Generally Accepted Accounting Principles (GAAP), said Chaz Bickers, Boeing communications director. That amounted to a funding level of 75 percent. To manage the situation, the company put another $1.5 billion of cash into the pension fund last year.
        And Boeing may kick in more in 2013, said Chief Financial Officer Gregory Smith, during the third-quarter conference call with analysts and journalists in October.
        “Given the current market conditions and the unprecedented low interest-rate environment,” he said, “we are closely monitoring the potential impacts of our 2013

        donwshuper50 is a Boeing troll.
        call the pension office or the DOL , or just read the BOEING Communications director statement Chaz bickers . Don calling people a twit or a newbe or advising him to watch out for his mother IS NOT A SUBSTITUTE FOR YOUR IGNORANCE

      • Don, this article came out on December 19. But is Yahoo no longer let you post the links I cannot do so. How did forward save 10 billion? It was stated in the article they saved 10 billion by getting rid of the pension. Boeing is a bigger company should save 15 billion.

    • So many of the posters here follow right in tune, not thinking beyond your emotion. Perhaps you should look at Germany, why the unions there get paid twice as much, putting out twice the product.
      Soon there will be only two classes of wealth, the 0.1 percent & the rest of America in the third world. Every currency in history has collapsed! There is not a single Fiat currency that has remained. Look at other countries like Germany, Argentina, Zimbabwe, and 100 others. In time the dollar will end- how soon, soon. As all the "brick" countries are now colluding to end the dollars supremacy. They will do what our own citizens can't seem to, end the wars!
      Unfortunately it will also end the middle class in America!
      I suggest some of you read this four-part series. That is if you really want to know how the system works.
      "The coming collapse of the petrodollar system" by Jerry Robinson
      For those who are going to vote on the 3rd, ask yourself why there is so much fear, intimidation to push this vote through. Ask yourself who is more afraid, the company or the machinists? We have a contract till 2016. Perhaps it's the fact that the company will save billions and billions, by locking you into an 11 year contract with no strikes and no help with inflation when it gets out-of-control.
      Just how much debt do you think a country can take?

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