24% increase on current wages is the way I read it24% of what?
24% increase on current wages is the way I read it24% of what?
Understood. I just don't know what their current wages are.24% increase on current wages is the way I read it
24 or 25% pay increase over three years24% of what?
As a general rule or average is 76,000 a year plus overtimeUnderstood. I just don't know what their current wages are.
It's $15 per hour, then it's chicken scratch. If it's $250 per hour, it's a heck of a bump.
Yep, this will firm up home prices and once again continue their climbHere is a simple graph of 30 year mortgage rates prior to the next anticipated Fed rate cut. Enjoy.
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As a general rule or average is 76,000 a year plus overtime
New wages will take them to $106,000 a year plus overtime
Also included is a bump in lower cost medical insurance and a 4K bump to each worker in their 401(k) plan
Let’s not forget union officials called this the best contract they have ever negotiated in the history of the company.
It hasn't been a little over a year since a string of US regional bank failure and heavyweight Credit Suisse collapse. There are many reasons for this but one of the main ones is exposure to CRE. We can expect more of these bank failures in the near future, which is one of the main reasons the Fed is needing to cut rates, unfortunately.When is the commercial real estate market going to crash.... and how has it not, already ?
I told my adult daughter in D-FW the very same this week. Once the cuts get going in earnest, pent up home buying will commence, and home prices will climb in most places. I told her to buy when she finds the right house, and re-fi later if it makes sense.Yep, this will firm up home prices and once again continue their climb
Personally I think young people are better off paying a higher interest rate & lower purchase price. The interest rate can always be renegotiated the price they paid for the house cannot.
Either way the cost to buy the house is the same except for the lucky ones who purchased during the transition between home prices and interest rates
All I can say is if the workers aren’t happy with a 25% pay increase which they are not they can strikeThey need that much at a minimum to support a family in 2024.
Remember these folks work for a living, not given everything for free like some new recently arrived people to this country.
In my opinion these machinists should get a $10,000 contract ratification bonus….. PLUS $1000 of Boeing stock for every year of employment at Boeing. Basically an Employee Stock Ownership Plan (ESOP).
Example:
Abe has 5 years at Boeing so he gets $10,000 + $5000 BA stock
Bill has 10 years at Boeing so he gets $10,000 + $10,0000 BA stock
Chad has 23 years at Boeing so he gets $10,000 + $23,000 BA stock
David has 35 years at Boeing so he gets $10,000 + $35,000 of BA stock
Boeing has big $$$$ for stock buybacks so there’s no excuses for not rewarding these machinists.
Off Topic:
I worked a non union job at Publix Supermarket long time ago. Publix has an ESOP and employees had a vested interest in wanting to see the company do well and stock price increase. Publix is a private company and stock held by their employees.
ESOP is completely separate from a company 401K.
Exactly and one proposal from a presidential candidate is to give first time buyers $25,000 which we know won’t happen but if it did, the buyers wouldn’t be getting the 25,000 the homeowners would come out 25,000 ahead.I told my adult daughter in D-FW the very same this week. Once the cuts get going in earnest, pent up home buying will commence, and home prices will climb in most places. I told her to buy when she finds the right house, and re-fi later if it makes sense.
All I can say is if the workers aren’t happy with a 25% pay increase which they are not they can strike
I could care less about the company and it’s unions.
$60 billion in debt let them go out of business or close down in Seattle other workers would be glad to have their jobs
Not being happy with the pay raise of $30,000 over three years over $100,000 is ridiculous to me. As the union said, they never negotiated such a strong contract in the history of the company.. I’m sure like the auto workers they will get more. The only problem is this company is already underwater.
Because of the automobile union settlements unions will get a big fat head again to the point that the USA will not be able to compete like back in the 1970s and 80s. Just discussing here I really don’t care. It’s a free country.
Boeing has many more irons in the fire beside airplane production. They have been though a fair share of strikes. Will it set them back even more ... yeah, but I highly doubt Boeing will go bankrupt and fold completely.However since this is the Investors blog, when I was bottom fishing I looked carefully at Boeing. I am not an analyst, but I honestly do not know how they won't end up in Bankruptcy. I am not talking liquidation - just they have way too much debt in anything other than a ZIRP world to survive, so they will need to shed that debt - IMHO. Or sell a lot more airplanes.
Bankruptcy doesn't mean fold, thats liquidation. Bankruptcy simply means you have more debt than you can repay, so you restructure and shaft your lenders. Also happens to mean that things like Union contracts go out the window - however since this would likely be a government controlled flavor like with GM, I doubt that would happen either.Boeing has many more irons in the fire beside airplane production. They have been though a fair share of strikes. Will it set them back even more ... yeah, but I highly doubt Boeing will go bankrupt and fold completely.
Ahhh … the thing I fear is when does something hit bottom?I will definitely buy Boeing stock after it keeps dropping more with all the bad news.
The older I get I find myself more and more against the dumb dumb idiot executives that destroy companies and walk away with golden parachutes while the gutted company left in shambles.
I wonder if there’s any Boeing employees here on BITOG…. ?
The other week I was prepping a colleague for a job interview and salary negotiation for a possible promotion.
I flat out told the guy you want the biggest raise possible. Nothing wrong for wanting a big raise.
That’s not being greedy, it’s being smart. Ask for much more and settle for a little less.
All I can say is if the workers aren’t happy with a 25% pay increase which they are not they can strike
I could care less about the company and it’s unions.
$60 billion in debt let them go out of business or close down in Seattle other workers would be glad to have their jobs
Not being happy with the pay raise of $30,000 over three years over $100,000 is ridiculous to me. As the union said, they never negotiated such a strong contract in the history of the company.. I’m sure like the auto workers they will get more. The only problem is this company is already underwater.
Because of the automobile union settlements unions will get a big fat head again to the point that the USA will not be able to compete like back in the 1970s and 80s. Just discussing here I really don’t care. It’s a free country.