Press Release

Vought to Operate Nashville Facility with Strikebreakers

Washington, D.C., January 7, 2009 – The International Association of Machinists and Aerospace Workers (IAM) today strongly condemned Vought Aircraft Industries for plans to hire permanent replacement workers at its Nashville, TN, facility.

“Vought would rather threaten their employees than negotiate a fair contract for nearly 1,000 striking members of IAM Local 735,” said IAM International President Tom Buffenbarger.

The workforce at Vought voted September 27 to reject a company offer that would eliminate the existing pension plan for employees with less than 16 years seniority and replace it with an inferior 401k savings plan. Vought refused to modify the proposal even as the stock market crashed, stripping billions from 401k-based retirement accounts.

“The attempt by Vought to force a 401k plan on employees who deferred wages to fund a secure retirement plan would be outrageous under any circumstances,” said Buffenbarger. “In the current investment atmosphere, it is nothing less than a financial death sentence.”

IAM negotiators met repeatedly with federal mediators and company officials to broker a settlement that protected the workers’ pensions. Vought officials, however, refused to address the issue, arriving at one bargaining session accompanied by security guards.

“Many of us see Vought’s decision to hire permanent replacements as a bid to get one last shot in before a more labor friendly administration takes over in Washington,” said Local 735 President Mike Worrell. “I’m hopeful that the change so many of us voted for in November will arrive in time to make a real difference.”

Vought Aircraft Industries is 90 percent owned by Carlyle Group, the $8 billion private equity firm based in Washington, D.C. Among the political figures linked to Carlyle have been current President George Bush, former President George H.W. Bush, former Secretary of State James Baker III, former Defense Secretary Frank Carlucci and others.

The IAM is among the largest industrial trade unions in North America, representing nearly 700,000 active and retired members in dozens of industries. For more information about the IAM, visit www.goiam.org.