IAM 751 President Jon Holden: “It’s up to them to decide what they want to do” after the Boeing steward’s pension

A union steward at the Boeing plant in Washington state cried when she lost her pension. This was my future. And to see something just taken like that was just devastating.”

In Seattle last week, Kinckiner and other union members made it clear that they want to reestablish the pension plan they lost a decade ago.

IAM 751 president Jon Holden says he understands why some of his members are still angry, and why some are still fighting to get the pension plan back.

The union’s leadership is not making a recommendation as to how members should vote on this offer. That is a different outcome from the previous vote in September, when some members were not happy with the union recommendation of acceptance.

“We do believe it’s our responsibility to get this in front of the members so that they can make that decision,” Holden said. “I hope they’ll consider this, but it’s up to them.”

The Boeing Project: Why the Boeing Strikes and How It Was Done Before the 737 Seiberg Eventhough it Was Taken Off

The company is offering a 35% wage hike — a significant increase from the initial offer of 25%, though still short of the 40% raise the union wanted. The company would also increase its contributions to employees 401k retirement funds.

The focus right now is on Boeing and its latest proposal. The machinists union credits Acting U.S. Secretary of Labor Julie Su with helping to restart stalled negotiations.

Michaels worked closely with Boeing’s CEO in the 1990s, when they were both at the firm Rockwell Collins. Michaels believes that Ortberg is correct in his plan to shrink the company.

Kevin Michaels is a managing director at AeroDynamic Advisory. “It is a possibility. It’s a higher possibility today than it was six months ago or a year ago. I don’t think it’s inevitable.

Jon Holden said that his members were able to get Boeing to move a lot.

That strike, now in its sixth week, has halted production at Boeing’s factories in the Pacific Northwest. Boeing’s problems are deeper than that. Even before the strike, the company was grappling with production and quality control issues that limited production of its best-selling 737 line. The company also reported major losses in its defense and space business.

“Restoring our company requires tough decisions and we will have to make structural changes to ensure we can stay competitive,” Ortberg said in a memo to employees earlier this month.

Ortberg is taking over at a crucial moment for Boeing. The head of a major Boeing customer said this month that the plane maker could be headed for a credit rating reduction.

Boeing plans to sell stock and securities and use a new line of credit to raise up to $25 billion to replenish its cash flow.

WASHINGTON — Boeing reported a staggering loss of $6 billion in the third quarter on Wednesday, as its striking machinists voted on whether to accept a new contract offer.