Haven't posted for awhile but couldn't let this one pass
Thanks for a job well done?
The new contract offered to union Boeing workers is obviously a very thin veil of intent to move the company, division at a time, to a "Right to Work for what the Corporation is Willing to give us State".
In other words, a non-union state.
2012 executive compensation was increased from 2011, mainly due to the excellent work accomplished by both salaried and hourly union personnel, by a whopping 54.44 percent! This is only part of the pay increases - the main executives not counting probably 100 or so "junior executives". The poor decisions of the executives, especially in the design and problematic out-sourcing construction of the 787, had no marked negative effect in terms of massive pay raises. By the way, union workers corrected many of the 787 problems - thank you very much...
Just considering the Boeing Company CEO, a recorded compensation raise of roughly 20%, from $22,958,000 to $27,484,000 was awarded. He had a take-home pay of over $20,000,000 for a job well done. Congrats!
In light of this, and other massive increases in executive salaries, the same group of guys are offering to dispense with the workers pension plan, offer practically no wage increases (1% every other year) and other significant reductions in benefits. I was a Boeing Company manager for many years and I can certainly see the insult proposed to the amazing Boeing workforce I was honored to work with, and I am also certain upper management sees it and intended it that way as well.
The union workers voted an appropriate No to the contract proposal and the Boeing Company, which used to proudly call itself "The Boeing Family" will most likely pull up stakes in an effort to blame and diminish the union and further increase executive compensation. Local economy effects are of no concern to these guys; that seems to be the corporate way of conducting business.
