Friday, June 11, 2010

Will unions push Boeing to the brink?

Unemployment: 9.7%
Foreclosures: Up 40%
Union pushing a company to the brink? Priceless.

After enduring a month-long strike in Long Beach, California, Boeing has another possible strike looming in St. Louis.

This time the Machinists' are balking at this offer:
Key features of the contract offer to approximately 2,500 represented St. Louis-area employees include:
-- $5,000 lump sum payment in year 1 of the agreement
-- 3 percent general wage increases in years 2, 3, and 4, and an additional 3 percent in the remaining seven months of the contract
-- Basic retirement benefit increased to $81/month per year of benefit service effective Sept. 1, 2010; a $11 (15.7 percent) improvement from $70 today
-- Excellent health care benefits at a moderate cost to employees
Current health care coverage and employee contributions continue through Dec. 31, 2013
-- Continued company savings plan match of 50 percent of the first 6 percent contributed (increases match for employees hired after Dec. 31, 2004, from 50 percent of first $70/week to 50 percent of first 8 percent). Employees hired on or after Jan. 1, 2012, will also receive a 4 percent automatic company contribution to their Voluntary Investment Plan, vested immediately, in lieu of participation in the Employee Retirement Income Plan – Hourly East.

Read the rest here:

“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776

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