Where is the NLRB when you need them? This is exactly what the labor union complained of, the companies are escalating their profits to destroy unions. Wall Street is making profits on the backs of citizens and destroying their own consumer base.
The real message about 2008 and the Bush Bailout was the fact it pushed Wall Street over the top to destroy the economy of the USA and it wasn't just in housing. The exorbitant profits of Wall Street are obscene. They are unethical simply because it is creating a Third World in all nations and soaking up the income to what was normally the Middle Class.
It isn't just the airline industry. But, this example with Boeing and Delta is more than interesting. This is from the Huffington Post.
Posted: 11/15/2013 3:56 pm EST
Updated: 11/18/2013 3:51 pm EST
Earlier this week, (click here) the legislature in Washington state agreed to give Boeing $8.7 billion in tax breaks through 2040 in an attempt to convince the company to locate production of a new jetliner fleet in the state. It's believed to be the largest state tax break for a company ever. But the huge concession still may not satisfy Boeing.
The company is now threatening to take production of the jetliner fleet elsewhere over a contract dispute with its machinist union. On Thursday, the union shot down a proposal from Boeing that would have replaced worker pensions with a contribution retirement savings plan and guaranteed raises of just 1 percent every other year, according to the Seattle Times. The New York Times reports that the proposed biannual 1 percent raise would have been in conjunction with some cost-of-living escalations....
I think Washington State expected some loyalty from Boeing, but, it just isn't enough. What Washington State should have done was to take the $8.7 billion and provided a reason for the union at Boeing to be competition that would rein in the arrogance of the company.
The talent at Boeing in Washington State is incredible. The problem with Boeing is the management. It is proven and real. But, the Boeing talent could begin their own company in a blink of an eye with some backing to take over the construction hanger.
As a matter of fact if the unions in Washington State were provided monies to develop a MADE IN AMERICA jet, they could bring it in EFFICIENTLY under the cost of any Boeing product. It would be an employee owned shop and the draconian management would be gone and efficiency and QUALITY would return.
The State governments where Wall Street dominates their economy have to begin to build a better economy. The future of Wall Street is a complete collapse of it's profitability. They are not paying their employees enough and skimming profits form those payrolls and Wall Street will collapse of it's own greed. Wall Street is destroying it's own consumer base and the state of the USA have to get out of the way of it's blood sucking strategies.
(Reuters) - Boeing Co (BA.N) reported (click here) a surprising 12 percent jump in quarterly profit and raised its full-year forecast on soaring commercial aircraft production and margins, sending its shares up as much as 6 percent to an all-time high....
...The strong third-quarter results from the commercial airplane business, which churned out more planes at higher profit margins in the quarter, compensated for weakness in the defense unit, where revenue rose just 3 percent, margins contracted and profit fell....
As a matter of fact, Washington State would have received it's $8.7 billion back if it had provided the opportunity for the union to create it's own employee owned company because all the defense contracts could go to the new company and not touch the profitability of the commercial airline industry.
Best of all worlds, while the USA brings their industries home and puts their economy back where it belongs.
By Dan Catchpole
"Here they're making record profits (click here) and doing millions in stock buybacks, and Boeing is crying poor house," said Scott Hamilton. "There's a real disconnect."
Who needs a management that makes poor decisions that compromise the company and endanger jobs?
Saturday, December 28, 2013 10:00 p.m
In the air and on the ground, Boeing flew through the headlines this year. (click here)
From burning batteries and grounded fleets of 787s to land deals, union votes and a shiny new jet that hasn't been built yet, Boeing weathered a public relations nightmare over its problem-riddled Dreamliner while at the same time played a chess game with several states in the high-stakes prize for the forthcoming 777X passenger jet....
I think Washington State expected some loyalty from Boeing, but, it just isn't enough. What Washington State should have done was to take the $8.7 billion and provided a reason for the union at Boeing to be competition that would rein in the arrogance of the company.
The talent at Boeing in Washington State is incredible. The problem with Boeing is the management. It is proven and real. But, the Boeing talent could begin their own company in a blink of an eye with some backing to take over the construction hanger.
As a matter of fact if the unions in Washington State were provided monies to develop a MADE IN AMERICA jet, they could bring it in EFFICIENTLY under the cost of any Boeing product. It would be an employee owned shop and the draconian management would be gone and efficiency and QUALITY would return.
The State governments where Wall Street dominates their economy have to begin to build a better economy. The future of Wall Street is a complete collapse of it's profitability. They are not paying their employees enough and skimming profits form those payrolls and Wall Street will collapse of it's own greed. Wall Street is destroying it's own consumer base and the state of the USA have to get out of the way of it's blood sucking strategies.
...The strong third-quarter results from the commercial airplane business, which churned out more planes at higher profit margins in the quarter, compensated for weakness in the defense unit, where revenue rose just 3 percent, margins contracted and profit fell....
As a matter of fact, Washington State would have received it's $8.7 billion back if it had provided the opportunity for the union to create it's own employee owned company because all the defense contracts could go to the new company and not touch the profitability of the commercial airline industry.
Best of all worlds, while the USA brings their industries home and puts their economy back where it belongs.
By Dan Catchpole
"Here they're making record profits (click here) and doing millions in stock buybacks, and Boeing is crying poor house," said Scott Hamilton. "There's a real disconnect."
Who needs a management that makes poor decisions that compromise the company and endanger jobs?
Saturday, December 28, 2013 10:00 p.m
In the air and on the ground, Boeing flew through the headlines this year. (click here)
From burning batteries and grounded fleets of 787s to land deals, union votes and a shiny new jet that hasn't been built yet, Boeing weathered a public relations nightmare over its problem-riddled Dreamliner while at the same time played a chess game with several states in the high-stakes prize for the forthcoming 777X passenger jet....
