Greed is never pretty. Union greed is downright ugly.
“Full pay ‘til the last day” -Eastern Airlines labor slogan
an excerpt from an earlier article, Nov. 5, 2013
To try to secure a yes vote by the IAMs 31,000 members here and 1,500 more in Portland, Boeing wrapped the bitter pill of its contract proposal in lots of sugar.
The IAM deal includes substantial cash awards: not only the big ratification bonus but also a golden handshake buyout that would allow retirement with boosted pension terms of $95 per month per year of service for anyone over age 58.
The take-aways include significantly higher health-care premiums and, crucially, the radically changed pension plan.
The new pension plan would have the company contribute a fixed percentage of gross salary into a retirement savings account each year: 10 percent the first year, 8 percent the second; 6 percent the third, and 4 percent every year thereafter.
The IAM is the last Boeing union with a traditional pension, and the company has sought unsuccessfully in multiple contract negotiations to move away from a defined-benefit pension plan to such a defined-contributions savings plan.
The offer would also change the wage structure so that new hires would take 16 years to reach the top of the pay scale instead of the 6 years it takes today.....
A company source said that during secret negotiations over the past months, Boeing moved somewhat toward the union on the pension and health-care numbers.....
In tonight's Kiro 7 article they also talk about the stuff that the Governor added to try to keep Boeing and the union happy.
Even the ENGINEERS at Boeing are unionized (well, Boeing Aircraft anyway).
The last machinist’s strike at Boeing was 2006-2007 or so, and they were still feeling the effects YEARS later. .
Greed is an element but timing is the key. The union must go for broke while Obama is president. If the union can not bully Boeing with the current contract negotiations, it will lose out until the next round.