Symbol Lookup
Register | Login My Watchlist | My Account | Logout
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn

Boeing machinists to vote on company's revised offer, union says

Saturday, December 21, 2013 5:33 PM

CHICAGO, Dec 21 (Reuters) - Unionized workers at Boeing Co who resoundingly rejected a proposed contract last month will get a chance to vote on the company's latest offer, the union's national office said on Saturday, despite opposition to the revised deal from local labor leaders.

"I can confirm that a vote will take place," Frank Larkin, a spokesman for International Association of Machinists, told Reuters. "But the date and details are still being finalized."

In November, machinists at the Everett, Washington, plant where Boeing's 777 jet is built voted 2-to-1 against the company's initial offer.

The eight-year contract would have kept production of Boeing's next jet - the 777X - in Washington state. But in exchange, management wanted to replace the workers' pension plan with a 401(k)-style retirement savings account and raise their healthcare costs.

In the aftermath of that vote, Boeing said it would look for other locations to build the 777X, the only jet the company is likely to develop in the next 15 years.

Boeing also came back with a revised offer that included a signing bonus and some concessions. But leaders of IAM District Lodge 751, which represents the 31,000 workers, refused to put it up for a vote, saying the changes were not significant enough.

In an e-mail to Reuters on Saturday, Bryan Corliss, a spokesman for District Lodge 751, said "our leadership is trying to contact our International President for details. As soon as we have them we will pass them on to our members."

This article was from Reuters and was legally licensed through the NewsCred publisher network.


FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

U.S. pending home sales rise modestly in OctoberU.S. pending home sales rise modestly in October
WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rose far less than expected in October, the latest sign that the housing market recovery was losing momentum after strong gains earl...
Oil price predictions for 2016 lower still: pollOil price predictions for 2016 lower still: poll
(Reuters) - Depressed oil prices are likely to linger longer as analysts dropped their predictions further for next year, according to a Reuters poll, assuming OPEC will not cut output when it meets...
Uncertainty in China, Latin America could impact German economy: GabrielUncertainty in China, Latin America could impact German economy: Gabriel
BERLIN (Reuters) - German Economy Minister Sigmar Gabriel said on Monday that economic weakness in China and Latin American could have a negative impact on Europe`s biggest economy. A climate of unc...
How holiday shopping mania led to Giving TuesdayHow holiday shopping mania led to Giving Tuesday
(Reuters) - If you end up with a massive money hangover after the five-day holiday shopping mania that stretches from Thanksgiving Day through Black Friday to Cyber Monday, the antidote is Giving Tu...
Nikkei seeks global digital powerhouse with $1.3 billion FT purchaseNikkei seeks global digital powerhouse with $1.3 billion FT purchase
LONDON (Reuters) - Nikkei Inc. will use its $1.3 billion (£866 million) purchase of the Financial Times to build a global digital powerhouse by using data to win new clients and by harnessing the Br...

Loading Headlines...

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile

Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Be a Better
Trader, Today
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More