Wednesday, October 22, 2008

Boeing burns through cash

Well, since Boeing is a publicly-held company, they can't lie about how much the strike hurts them, via Bloomburg News:

Boeing Co., the second-largest commercial-plane maker and defense contractor, burned through $3 billion in cash last quarter as a strike by machinists halted aircraft production, hurting revenue.

The walkout shaved about 35 cents a share off third-quarter earnings, Chief Financial Officer James Bell said on a conference call today. That works out to about 1.4 cents a share for each day from the start of the strike on Sept. 6 until the end of the quarter. The strike is now in its 47th day.

We know that Vought is also losing money hand over fist. The only way they make money is if we're building assemblies.

District 751 President Tom Wroblewski issued the following statement in response to Boeing's 3rd Quarter Earnings Report:

"Obviously, this Company continues to have record backlogs, success, and sizeable profits - demonstrating Boeing has the ability to better share this success with Machinists Union members who generate the profits.

It would be a better business decision and a better investment to have made a fair contract offer with Machinists Union members. Partnering with the Union for the future is the best way to ensure success and to embrace the ideas our members can bring forward. There was no reason the Company needed to come at this Union with takeaways. These bad decisions contributed to this strike. Customers want their planes, shareholders want their value, and our members want to get back to building the best airplanes in the world.


We hope Boeing comes to the bargaining table tomorrow to resolve this strike, rather than simply giving the CEO a convenient answer to what this Company is doing to resolve the strike. McNerney should have to justify the lost revenue and answer why they continue to keep their employees on the picket line.


The Machinists were not involved in the decision to outsource the 787, which took airplane production out of Boeing's control. Although the strike might be a convenient excuse for production delays, these delays started 15 months ago because of global suppliers. The best way to get the 787 and Boeing back on track is to put the correct people to work, and that is the Machinists' Union members. Every time Boeing has problems, it is our Machinists Union members and SPEEA members who lead the way to success.


Our strike is about Boeing trying to bring outside non-union vendors they can't control into our workplace to replace our members. Many of their own managers have admitted this is not working, but Boeing continues on this path. The 787 is being delayed because of Boeing's flawed globally outsourced production system and has nothing to do with this strike.


There was no reason for the outsourcing, health care takeaways and other negative components to Boeing's best and final contract offer. In fact, this strike was unnecessary. With substantial profits and backlogs, our members expected Boeing to be fair and share the profits so they could grow with the success of the Company. Again, we hope that this new round of talks that begin tomorrow will be the answer to resolving this strike."

28 comments:

Anonymous said...

Assistance needed, I have pitched in to help support my husband while he is on strike. My health is not that great but I've been pulling a 40 hour work week plus. Now I'm sick with no insurance and have had to drop alot of RX's because we can't afford them. Is there a clinic that is cheaper than the regular $80.00 or more it takes to see a Dr.? Ideas would greatly be appreciated soon. Tina

Anonymous said...

tina... the take care clinics at walgreens and cvs are about 60 or so.. but the health dept is also an option too.. hope you feel better

Anonymous said...

There is a hardship committee just call the union hall. They are a wonderful group of people willing to help you.

Anonymous said...

Some Walgreens have a clinic that is $65.00 to see the Nurse Practitioner and you can get certain antibiotics for $4.00. I have also heard you could get some antibiotics at Publix for Free.

Anonymous said...

Have you tried the minute clinic at Wal-green's? My wife went there the last time she was sick and it cost less than if we went to the clinic at summit with our insurance.

Anonymous said...

Tina,
If you live in Davidson Co. you can go to Matthew Walker Comprehension Health Care Center. Here is the # (615)327-9400. They base it on your income,and # of people in your household. I hope this helps,and hope you get well soon... Good Luck!!!

Anonymous said...

Tina-
Call your doctor and see if they offer self pay discounts (a LOT of them do). They usually knock a percentage off their "customary charges". I had to go to the doctor the other day and instead of the $59.65 I would have had to pay when Voughts insurance applied it to the deductible, they only charged me $45.
Also, ask your doctor about samples for any medications that are not available in generic. Under the circumstances the doctor may be able to give you enough to last a little while. I had prescriptions that would have run me $60 WITH insurance (I do not know what the cost would have been since we have no insurance). When I explained the circumstances, my doctor gave me a months supply for free.
Hope this helps you and anybody else who may be facing the same situation.

Anonymous said...

To the company vought: if you have watched the news lately you may have heard a term used " spread the wealth " I think you get the picture. Now this may mean that you youselves will have to have a smaller bonus. If you have any questions you can contact the 2007 workers at the Nashville plant, they know all about having to take a smaller cut ( bonus ). The workers will be available walking the picket line at the Nashville site.

ladydi said...

In response to Tina: I'm not sure of what your circumstance/sickness is but I felt I had to at least respond to your posting. I have a few ideas but do not know if they pertain to you or if they will help you, but at least it is worth a try. If you go to the doctor on a regular basis (once a month) like I have to, here is what I had to do last week. I called the doctor's office and ask to speak to the nurse. I told the nurse that my husband was on strike and that I didn't have any insurance and I ask her to ask the doctor if I could just come in and see the nurse and get my shot and my prescriptions. The doctor agreed to this and it saved me a doctor's visit. I still had to pay for my shot and to see the nurse but the cost was $50.00 instead of $150.00-$200.00. Also, are any of your medications on the $4.00 list at Wal-Mart or Walgreens? If you can't find out anything that will help you, then you should call the Union Hall and ask for somebody on the Hardship Committee. The number is 885-1756. Good Luck and God Bless!

Anonymous said...

how bout we start a petition started to oust Maxie , if he is even still with the company and Dan who thinks hes the man. We send it to headquarters in hope of new leadership capabilities.

Anonymous said...

RAT = One who abandons his associates , esp. in time of trouble ; a stool pigeon or informer.

Anonymous said...

are we gonna dress up for halloween next week? they have woody woodpecker masks for less than 5 bucks on ebay ! that would rock!

Anonymous said...

Check with the health department. They may have a Dr. or nurse practitioner. They're also more likely to provide more inexpensive versions of your meds to reduce your pharmacy bill.

Anonymous said...

I think it would be a good idea to dip into our savings and everyone donate 10% to the hardship fund! Just a thought!

Anonymous said...

What suggestions do you have on insurance? Are you buying Cobra, a short term, or nothing? What are the Pros and Cons?? Any Suggestions!!

Anonymous said...

No a rat is someone who cant make their own decisions because they are scared to lose freinds, therefore many rats exist in vought.

Anonymous said...

Check out Voughts Web Site for updated propaganda on the impact of Boeings and Nashvilles Strikes! They try to explain to Customers and Shareholders???, their plan to build confidence, for their BUNGLES! Also, possibly where they are getting a few experienced Air Craft Workers that dont mind crossing our picket....either cross, or get layed off or worse!!!

Skilled IAM 735 Worker.....again

Anonymous said...

You can check on short term health ins. at the Union Hall. Farm Bureau also has short term Ins.
TRH health plan, different deductables 1000, 500,or 300. Got ins for myself and 3 children for $200.00 for 60 days.

Anonymous said...

from Voughts web site today:

"Nashville IAM represented employees at our Nashville site voted to strike on Sept. 27. Since that time, this facility has remained open and continues to produce and deliver products. The aircraft programs built at this site include Airbus A330/A340 wing components, the Gulfstream 450 wing, the C-130 empennage, and wing panels for the Cessna Citation X.

The company is committed to keeping this facility operating during the strike and has implemented its contingency plan. The plan includes shifting personnel from other Vought sites to Nashville, adding experienced contractors, assigning Nashville salaried employees to production, and moving some of the smaller sub-assembly work from Nashville to other Vought sites.

Results indicate the contingency plan is working. Vought has met the majority of its customer delivery commitments since the strike began, even while new personnel are trained and coming up the learning curve.

“These people in Nashville are working extremely hard and doing a great job. As our temporary shop workforce gets more experience, we expect the productivity levels to continue to increase,” said Davis. "

(said Steve Davis, vice president and general manager, Commercial Aerostructures Division.)



How can they lie to the world this way. Does Davis realize he just lost any credibility he may ever had. Maybe the customers can give him their point of view pertaining to deliveries. I bet they don't put these blatant lies in their SEC report. We dare you.

Anonymous said...

Tina here, thanks for all the advice I've been seeing my Dr. for years so I'll take the advice and call my medical Dr. and see if they can help me out. Thanks, I hope all of this will be over soon. I make less than $220 a week and can't afford a $60 office visit. God Bless you all and keep posting positive info. It may help more than you know. As for insurance we can't get any on myself because my problems are pre-existing. Our phone has been ringing off the hook with insurance brokers, it's like a broken record pre-existing. Tina

Anonymous said...

Anonymous said...

from Voughts web site today:

My friend dont let this latest propaganda surprise you we and a lot more knows the truth.Infact this was designed for we here at nashville as a scare tactic hardly no one will read it let alone even believe it.
This is all part of there plan! And its failing just like a very bad investment.I hope somebody in upper mngmnt gets burned big time!

Stand strong!

Crow-P5 said...

Ok, they say their contingency plan is working. Well if it's working, then maybe they can explain this. I was in Marietta, GA yesterday interviewing for a job at Lockheed-Martin. One of the other applicants there was from Gulfstream in Savannah. He was trying to get on at Lockheed because he just got laid off because the G450 program there had to shut their lines down due to no wings.
Yeah, it sounds like their plan is working great LMAO! Cut the BS Vought. We're not buying it.

Anonymous said...

Don't believe the hype brothers and sisters. Its all crap. They will tell you anything to make you think they are doing fine and that the union is gonna fail. Hell if they get a rivet shot once without having to rework it they think they are doing good. Just another ploy to get you to loose hope and cross the line. Stand strong and our rewards will be plenty.

Anonymous said...

hang in there Tina. surely the union office can lend a helping hand. is your husband not working part time? alot of stores are hiring just for the holiday season.

crimson69 said...

Just a little note for some of us who can't find work or are having problems getting food, I was able to get assistance with the ebt program (food stamps). If I can I am sure that many of you can as well. I could not get family first which gives you money for non food items due to tennessee strike laws, but was able to get food. This will help me out a whole alot having four children and struggling to feed my family. Now I can take my strike benefit check and pay bills while trying to still find a part time job. Just thought this might help, I know that some might not want to go this route, I didn't either but God answers prayers in so many different ways and He answered mine by helping me feed my family.

Anonymous said...

In the late sixties while Local 735 was on strike with Avco we were told by Avco that we had lost our contract with Bell Helicopter and they invited all the news media to film the trucks hauling away the Bell jigs and the tail booms. When we ratified the new contract guess what, Avco lied, Mr.Steve Davis That tactic did not work then so why do you think this tactic would work today unless you think the union members are very stupid. I am very proud of our younger union Brothers and Sisters so lets all hang in there and remember what we endured in the earlier years in trying to win good contracts for everyone So don't let the comments from Vought rattle anyone just remember how Avco tried to trick the people into crossing the picket line years ago.

Anonymous said...

As to all the nonsense of delivering on time and what not, If anything is being delivered it's components we already had built.
One of my fellow employees is now working at Gulfstream. They don't have any wings there. However they were told they would have one this week. Will keep you posted on this.
C-130...a supervisor was quoted that they were running 70% and doing well.
What does this say about you and your skill? Besides knowing this is a lie, do they think we believe this kind of stuff. Some of this stuff was sent to Texas and could not be built with experienced people. After 2 years it was sent back and was just starting to recover from that nonsense.
I'm not buying, how bout you?!!!!

Anonymous said...

Wasnt too long ago, when the C-130 was running at 150 to 180 percent, but we all know the numbers game. Maybe they have trapped a parts fairy or magic troll to deliver parts on time. Yep, that's probably it, parts fairy. To add to that, we got OUR butts chewed for 70 percent and SOMEHOW, now it's great? Just as I suspected, the lines we were feeding are now drying up and I suspect they wont be pleased.
Worrell-have you heard anything back from Gulf Stream or Lockheed, Airbus or Cesna? Let us know.