The report heavy turnout among the International Association of Machinists and Aerospace Workers (now) Local 751 today, as they vote in favour of a three-year contract, Boeing's commercial aircraft and the possible strike.
The agreement in about 14% and the increase in salary and bonus of not signing the agreement is striking. 6 pm PDT voting ends, and the result is not expected before 8:30 pm, IAM - 26000 questions, two members will vote on - whether or not to accept the deal and to go on strike ". The contract is only a 50% vote of a majority of votes cast money, but the strike vote two-thirds approval is required.
Analysts are mixed signals in their crystal balls. The Securities Corp. FTN, Chrishan Anketell members say that Boeing's concern about the outsourcing of work from the company's traditional factories in the area around Seattle in Puget Sound is likely to lead to a strike vote.
This is what the IAM leadership has recommended the August 28, when Boeing made its best and final proposal. "It is rare that EU membership is inconsistent with the recommendation, especially now says," Anketell.
But George Shapiro of Citigroup Investment Research says the barriers are "a little favor of the strike is not 60/40." He hopes that members have not yet accepted the agreement, but non-models to allow for enough votes to strike Is. He noted that the IAM was a contradictory vote in 2002.
But in 2005, IAM struck Boeing for 28 days, and its efforts to reduce the company's agreement to reduce their health benefits and provisions.
Shapiro says, if he is wrong, "perhaps a strike to last less than a month and cost of revenue of $ 2.5 billion, or 50 per share saint. To sell their recommendation is.
Despite the strike threat, Howard A. Rubel, Jefferies and Co. Boeing's shares will continue to monitor "buy", saying they could trade 14 times Jeffries' 2009 earnings per share of $ 6.85.
Boeing iam 751 updates from iam751.org
Boeing has issued a statement on Wednesday after the agreement to vote in the International Association of Machinists and Aerospace Workers, which covers about 27000 employees, mainly from Washington, Oregon and Kansas:
"We offered to employees in the best pay and benefits package for the aerospace industry," Dog said Kight, Boeing's vice president of human resources. "We are disappointed in the vote on the contract offer.
"The federal mediation and Conciliation Service asked both sides to meet at a neutral location to examine this week whether an agreement can be reached. In the process, Boeing has agreed to participate, It's trying to find a solution that is best for the interests of employees, our business and our customers. IAM has agreed not to engage in work for 48 hours of closed-mediated during the period, and all staff To work on Thursday and are expected to be on Friday, when these discussions were taking place. "
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