An 11th hour appeal from the new head of Boeing
urging union machinist to approve their tentative contract and voting
that starts tomorrow at 5:00 AM.
The new CEO sent out the message this afternoon that
a yes vote will allow the company to quote, reset
and build our future.
But there are growing concerns employees will reject the contract
and walk off the job.
The financial impact of a potential strike could expand beyond
the local economy.
There's a deal on the line between Boeing and Machinist,
the aviation company's largest union.
The tentative agreement includes pay raises worth 25% over the
next four years.
Boeing also agreed to build its next plane in Washington
state, presumably by union members.
This would go along with our other flagship models, meeting
job security for generations to come.
It's a big commitment to you and to our community.
The contract also offers workers new lump sum payments, lower
healthcare costs and adding to their current 401K contributions.
But union leaders say members think Boeing is still coming
up short on their demands and believe what's on the
table isn't good enough.
Video eclipse inside Boeing's factory in Everett sent to Fox
13 show a union steward standing with workers booing the
tentative contract Flyers circulating through facilities telling workers to reject
the agreement and authorize a strike.
If the union's 33,000 members say no to the deal,
it could affect more than just the workflow that facilities
throughout the Pacific Northwest.
The money flow could begin to slow down in several
communities.
Local economies rely on these thousands of workers spending their
money in King, Pearson, Snohomish counties, with Snohomish County seeing
the highest dollars in local revenue, according to a study
by the Seattle Metropolitan Chamber of Commerce.
Results show the impact of Boeing workers total spending in
the Lynnwood Everett area is $1 billion per year in
north Everett to Arlington at 615,000,000 per year.
A potential strike could affect finances beyond the local economy.
Those with in Boeing are already taking a hit.
September 9th is when the tentative contract agreement was announced.
September 10th is when union members voiced they were planning
to reject the deal, and that's when the stocks took
a dive.
On September 11th, numbers plummeted even further, dropping 2.5% to
its lowest point of the morning.
Though numbers are rising, the looming potential of a strike
at midnight Friday could turn these numbers around again.
We are closely following developments leading to tomorrow's vote.
We are also watching the stocks as well as the
possible impacts on the local economy.