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Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Free stock data analysis to help you select stocks accurately and capture market trends. The International Association of Machinists union’s strike has been the most costly American strike of the 21st century, at $11.5 billion and counting. But the vote’s outcome is uncertain, despite a push from union leadership urging members to accept the offer this time around.
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Precise predictions of market trends with real-time stock indices and futures data to help you make wise investment decisions. The strike has affected not just Boeing, adding to the billions it’s already been losing, but it’s also affecting airlines that are not getting promised deliveries of new, more efficient planes, as well as Boeing’s supplier base spread across all 50 states.
Boeing, despite its problems, remains a major force in the US economy. The Labor Department’s latestmonthly employment reportshowed that 44,000 jobs were impacted in October, counting not just the 33,000 strikers, but workers at Boeing and its suppliers who aren’t on strike but have been temporarily laid off as the strike halts commercial aircraft manufacturing at the aviation giant entirely.
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Free global stock market data to help you plan the best investment strategies and seize market opportunities. The offer would give members an immediate 13% pay raise, followed by 9% raises each of the next two years and 7% the final year of the 4-year deal. When compounded, that would mean a real raise of more than 43% by the end of 2028.
Boeing said average annual pay for members would reach $119,300 by the end of the contract, up from the average of $75,600 heading into the strike.
It also includes increased contributions to the employees’ 401(k) accounts, and a $12,000 ratification bonus that they can take as cash or have contributed to those retirement accounts.
But it does not restore the pension plans that the union lost in a contract 10 years ago and which has spurred anger among the rank and file in two previous votes. And it’s only a modest increase over the offer theyrejected October 23.
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“In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor,” said the statement from the union to members. “We are at that point now and risk a regressive or lesser offer in the future.”
Union members have rejected offers recommended by their leadership in the past, only to accept a subsequent deal that isn’t much better. That happened in 2021, when members of the United Auto Workers union at farm and construction equipment maker John Deereaccepted a dealsimilar to one they had previously rejected, ending a five-week strike there.
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Expert predictions with real-time stock trend analysis to help you quickly select high-potential stocks and grow capital. And it happened 10 years ago at Boeing, when about two-thirds of members rejected an offer that ended the pension plan.That was followed by 51%voting to acceptroughly the same concession offer rather than deal with Boeing’s threat to build non-union plants around the country, which would potentially cost the jobs of many union members.
One Boeing employee told 【 - Free Stock Movement Tracking 】 Friday he intends to still vote no because he thinks the improvements over the previous offer aren’t significant enough to change his mind.
“It’s still not good enough,” said Brandon Felton, who started at Boeing in July. “It doesn’t keep up with (what) we’ve lost (to inflation). A large portion of the 64% that voted no last time are pretty resolute. But it’s probably going to be close. But most of the employees will not be happy, feel appreciated by the company, morale will continue to be low. We don’t see any kind of ‘cultural’ change there at all.”
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Free expert stock trend predictions to help you identify high-potential stocks and maximize returns. With real-time global market indices, futures, metals, energy, and agricultural product data, our platform enables you to make informed investment decisions. Traditional pension plans, like the one that ended for IAM members at Boeing 10 years ago, are known as a “defined benefit pension” because it pays retirees a set monthly amount as long as they live. Instead, union members now have 401(k) plans, wherein Boeing matches a portion of the contributions that workers make into the account.
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Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Get accurate stock forecasts and market predictions from top financial advisors. With real-time updates on stock indices, exchange rates, and futures data, you'll be equipped to make profitable decisions and grow your capital steadily. The night the strike started, Jon Holden, president of the largest IAM local at Boeing and the union’s chief negotiator, explained the near-unanimous rejection of a tentative deal that he had referred to as the best ever negotiated at Boeing by saying, “I know that many members haven’t healed from that wound (of losing the pension).” In the wake of the second rejection on October 23, he said the pension was still a major issue in the vote.
“There are many members who won’t vote for an agreement without a defined benefit pension,” Holden told 【 - Free Stock Movement Tracking 】 the day after membership rejected the latest offer. “There are others who have moved off it and who are focused on wages. There are others who are saying, ‘If I don’t get the pension, then you’ve got to do more on the match. You can’t stagnate my wages for the last eight years and expect me to pay for my own retirement.’”
But Boeing has made it clear throughout the negotiations that bringing back the pension plan was a non-starter as far as it was concerned.
“There is no scenario where the company reactivates a defined-benefit pension for this or any other population,” the company said in a statement on October 15, and confirmed Thursday is still its positon. “They’re prohibitively expensive and that’s why virtually all private employers have transitioned away from them to defined-contribution plans.”
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Holden said union members are simply angry at Boeing because of the threats to move jobs in the past, and demands for concessions even in good times.
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Boeing has had severe financial problems for more than five years, since thesecond fatal crashof its best-selling plane, the 737 Max, in 2019 led to a20-month grounding. Since then, it has reported nearly$40 billion in core operating lossesand it has warned investors that those losses will continue throughout next year no matter how quickly the strike ends.
Boeing workers have lost hundreds of millions in wages, but Boeing itself has lost more than $6.5 billion from the strike, according to the estimate from Anderson.
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Ending the strike is important for Boeing’s new CEO,Kelly Ortberg, who started in the job just five weeks before the strike began. He has said he wants to “reset” the company’s relationship with the union.
“I know the strike has been difficult for you as well as for our customers, suppliers, communities and all who work at Boeing,” Ortberg said in astatement to union members. “It’s time we all come back together and focus on rebuilding the business and delivering the world’s best airplanes. There are a lot of people depending on us. “
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Free stock selection services backed by expert predictions. Our advanced analytics and real-time market data will help you stay ahead of the competition and make smart, profitable investment decisions. And even union boss Holden said he doesn’t blame Ortberg for the strike or members’ anger with the new boss.
“Ortberg isn’t responsible for the last 20 years. But it’s now in his lap,” said Holden. “Now he has to deal with what his predecessors caused. Hopefully we can get there. There’s a lot at stake, not just for Boeing company, for the supply chain, for our members. That certainly isn’t lost on me.”
Is Matrimony.com Limited (540704) a good buy now ✌️【Expert Advice】✌️ Expert market predictions, real-time updates, and personalized investment advice designed to help you succeed. Seize the best investment opportunities in global stocks, metals, and energy markets. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Stock Movement Tracking 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
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