01:08:44 EST Sun 22 Dec 2024
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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 700,000
Close 2024-09-13 C$ 27.30
Market Cap C$ 19,110,000
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Globe/wire say Boeing workers vote on new contract

2024-09-13 08:38 ET - In the News

The Globe and Mail reports in its Friday edition that Boeing's U.S. West Coast factory workers stood in long lines to vote on Thursday on a much-criticized new contract, some loudly calling for a strike, piling pressure on the planemaker as it wrestles with chronic production delays and mounting debt. A Reuters dispatch to The Globe says that a potential strike could start on Friday, which would be a big early blow to new chief executive officer Kelly Ortberg, brought on last month to restore faith in the planemaker after a door panel blew off a 737 MAX jet in mid-air in January. Roughly 30,000 workers who produce Boeing's 737 MAX, 767 and 777 jets in the Seattle and Portland areas are voting on their first full contract in 16 years. Polling will close at 6 p.m. PT. If a strike by the International Association of Machinists and Aerospace Workers (IAM) is sanctioned, it could start at midnight. The proposed deal includes a general wage increase of 25 per cent, a $3,000 (U.S.) signing bonus and a pledge to build Boeing's next commercial jet in the Seattle area, provided the program is launched within the four years of the contract. The IAM leadership recommended its members accept the deal, but many workers are unhappy.

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