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If Boeing fails because they refuse to pay reasonable wages to retain their specialized workforce, that failure squarely falls on management. I'm not claiming that Boeing is going to collapse tomorrow, but continuing to make these kind of stupid mistakes will have consequences down the road.
Pensions are stolen all the time.
To be sure, the Employee Retirement Income Safety Act of 1974 made clear that pension assets are to be managed solely for the benefit of participants. But Schultz describes how companies still managed to use the money to pay for severance packages and for parachute payments to executives, among other things. Some companies simply sold pension assets for cash. Now pensions are collectively 20% underfunded.
Forbes link...
Then after the execs stole the pension funds and milked the companies dry of assets, they declare bankruptcy and offload pension responsibilities of the company to the taxpayer to fund the pensions at a fraction of what they were supposed to get paid. This was the gist of vulture capitalism.
Boeing is currently building 1.5 aircraft a month in Charlotte when their schedule called for 3. Boeing SC shifts message on North Charleston production goals – The Post and Courier
What is a "reasonable wage"? For instance, using glassdoor.com I compared wages and came up with this...
Engineer in SC = $73,607.
Production assembly = $15. P/Hr. to $20. P/Hr.
vs.
Engineer in WA. = $87.703 Which is >$14K
Production assembly in WA. = $20.57 P/Hr. Which is >$.57
http://www.glassdoor.com/
So, while more technical degrees are substantially higher in WA. as opposed to SC, hourly wage on the line seems to be pretty close.
So, this argument of "reasonable" considering cost of living, and equal factors is a non factor.
Washington Boeing employees have continued to build excellent high quality aircraft as they have for decades. Meanwhile, the Dreamliner has run into problems because of managements failures in outsourcing components and problems in setting up different production lines. Rewarding failure and punishing success is utterly moronic.
Cost of living here in W. WA is much higher than in SC.
So, you're basing it on an opinion piece? Ok. True enough that 3 per month is not being achieved (yet), it is not realistic for you, or the column writer to make the assumption that the workers are taking longer to get to speed. I in fact provided an article that could equally make the excuse in delivery, citing the paint facility. The truth is complex in a product that large.
You claim is so ridiculous that nobody even at Boeing would throw around such a lame excuse. Pretending that painting could result in 50% production slowdowns would get you laughed out of the aerospace industry.
Cost of living here in W. WA is much higher than in SC.
Absolutely, that's what I am saying....Dollar for dollar, those working in the plant in SC are making as much, if not more, in the case of line production, as WA.
Yes, mainly. That was my impression as well.
And they arent 'losing' anything....their pension programs are being frozen as is. THey are welcome to make their own arrangements elsewhere.
Nothng that many other Americans dont have to do. The fact is, they felt they were entitled to it. Newer workers felt the same. However, the company disagreed, it affects their bottom line, and in today's economic climate, is not, just *IMO* unreasonable.
You mean a climate of greed from multi billion dollar corporation?
Dont whine. If you dont like it, go out and make your own millions. Lots of people still do.
The only competitor Boeing has is Airbus, who pays high European wages. There is no such thing as cheap labor capable of building commercial airliners. You have bought into the nonsense that all labor can be trivially replaced and has no real value. When it comes to building airplanes, it couldn't be further from the truth.
Cars are nothing like airplanes. The build standards are light years apart.
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