Boeing (BA), Machinists Nearing Final Long-Term Contract
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Price: $223.14 -0.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.4%
Revenue Growth %: +5.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.4%
Revenue Growth %: +5.1%
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According to reports Wednesday, Boeing (NYSE: BA) may get a vote in favor of a four-year contract extension, leading to machinists dropping a complaint with the National Labor Relations Board.
The complaint was filed following Boeing's opening of a new, non-unionized plant in South Carolina.
Last week, private talks between Boeing and the machinists led to a tentative agreement for a new contract. Details include annual wage increases of 2 percent, cost-of-living adjustments, a 2 to 4 percent bonus incentive program, pension improvements, and a ratification bonus of $5,000 per worker.
But for Boeing, it means constant labor for it's 737 line, based in Renton, Washington. For machinists, it means 737 production will stay in the region.
One analyst from Frost and Sullivan, as quoted in Seattlepi.com, said the agreement is a win-win. With the U.S. government clipping spending, Boeing will need solid performance from its commercial division.
Boeing is down about 1 percent early Wednesday.
The complaint was filed following Boeing's opening of a new, non-unionized plant in South Carolina.
Last week, private talks between Boeing and the machinists led to a tentative agreement for a new contract. Details include annual wage increases of 2 percent, cost-of-living adjustments, a 2 to 4 percent bonus incentive program, pension improvements, and a ratification bonus of $5,000 per worker.
But for Boeing, it means constant labor for it's 737 line, based in Renton, Washington. For machinists, it means 737 production will stay in the region.
One analyst from Frost and Sullivan, as quoted in Seattlepi.com, said the agreement is a win-win. With the U.S. government clipping spending, Boeing will need solid performance from its commercial division.
Boeing is down about 1 percent early Wednesday.
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