Boeing drops pension proposal in union talks
When Boeing announced that it was phasing out its pension plan for new non-union workers, company officials said they would propose the same change to Boeing’s unions. Well, they’ve done that with the largest union — the Seattle-based International Association of Machinists unit — and the answer was a firm “no.” Pensions & Investments reports that Boeing has dropped its pension proposal, meaning that newly hired union members will continue to get a traditional pension instead of an enhanced 401k.
The publication quotes Boeing spokesman Tim Healy:
“This proposal reflects our effort to listen to employees and (develop) an agreement they’ll be happy with,” Mr. Healy said.
The underlying cost concerns behind the proposal to close the DB plan to new employees haven’t changed, Mr. Healy said. “A (DC plan) for employees will continue to be something that we’ll talk about, but for this contract, it’s out,” he said.
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David Nicklaus has covered St. Louis business for more than 25 years. His column appears three days a week on the Post-Dispatch business page. 
Yeah, unions think its a good thing pension money es invested in accounts that grow a whopping 2 percent a year. Union leaders are financial idiots who couldn’t make it in the real world. Meanwhile, the rest of us laugh our way to the bank or looking on computers what our investments are producing for us. A 25 year old today who relies on only a pension will about 800 percent less money at retirement in 40 years as opposed to a 25 year old who invests privately or a 401(k).
Oh yes! The stock market is so, so wonderful. To look at it, one would think the economy has no troubles whatsoever. Mr. Simon, your assessment of union leaders is typical of your ilk. You are an “I’ve got mine, the hell with you” type, aren’t you? You have no idea of the history of union/business relationships. You are surely aware that if not for unions, there would be no pension plans, or company health plans, or forty hour weeks, or overtime pay, or child labor laws? Of course, your answer to all that is “all outdated, outmoded drains on a companie’s bottom line”. These, sir, are what makes a company worth working for and gives the worker dignity and all that other socialist stuff you people hate so much.
I belive in the free market. Union always want more, they feel they are entitled to the company’s profit. You are making so much money, you have to give me a piece. Just look at Ford and GM, these unions keep on taking until these companies don’t have anymore money to give. If non union workers is not getting a pension, why should the union workers get one?
When workers and their union leaders use the right to strike seriously they can thwart concessions and save jobs. The overwhelming strike vote Boeing workers gave their bargaining committee saved pensions for future workers. UAW members gave their leadership an overwhelming strike vote too. But their leaders in Detroit misused the strike weapon. GM workers went out for 2 days; Chrysler workers for 2 hours; and I don’t think Ford ever went out. UAW officials called them back because they didn’t want to offend their “partners”, the big three! That’s a gross misuse of the strike weapon. It’s tantamount to a fool who waves a pistol for show, then puts it away.
The UAW was never serious about saving jobs or the future of new hires. The strike, when used correctly, can save jobs and communities