The union just announced that their members are on strike. I figured this was going to happen as I'm sure there was no way Boeing was going to even start to meet its obligations for the 787 dreamliner. They've had many delays because of delays in their supply chain. This gives the company an out on their deliveries of the new aircraft. The company has orders for over 900 787s which would be a couple of years work. The biggest sticking point is the outsourcing of jobs by the machinists. The monetary offer was 11% pay raise over three years. For a journeyman that's a nice chunk of change but then you have to remember that the workers give up a great deal in terms of working overtime being away from families.
So this will do just wonders for the economy up here. Housing has been down for several months. Banking has taken a hit. A lot of the construction jobs have been put on hold and now this. I only wish I knew what was in the contract for orders but this time around it's known that the company will loose $120 million per day. Last strike was a while back that lasted 29 days but that was when the orders were 500 to 600 aircraft. Then there was the 84,000 jobs lost nation wide just last month.
Wonderful economy eh George. Dumb monkey.