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With Tanker Deal Shelved, Boeing Must Dig in For Possible Long Strike
Just one day after The Boeing Co. (BA) was notified that a multi-billion-dollar U.S. Air Force tanker competition has been put on hold, the embattled aerospace firm said it was steeling itself for a long strike by its hourly work force.
Boeing’s commercial aircraft production areas were quiet Monday after the manufacturer’s 27,000 machinists walked off the company’s jetliner assembly lines to protest a proposed labor contract they contend falls far short of what’s fair in terms of health-care benefits and job security, MarketWatch.com reported.
On Wednesday, Boeing Chief Financial Officer James A. Bell said the company expects the strike to…
12Sep2008 | Money Morning | Comments Off | ContinuedAn Inside Look at the Boeing Plant at Everett
How big is the Boeing Everett plant? It’s big. Very big. (It’s also big on energy and technology, we’ll get to that in a minute…)
You could fit the Pentagon inside the Boeing Everett plant. It’s the world’s largest building, by volume. There are literally miles of utility tunnels underneath a concrete floor that averages 6-8 feet thick.
The Everett plant is so big that it makes its own weather inside. That is, the heat of the lights and machinery alters the climate inside the vast plant. So Boeing uses fans to push the warm air down to heat the plant…
4Sep2008 | Energy and Oil | Comments Off | ContinuedBoeing Threatens to Pull Out of $35 Billion Air Force Tanker Program
The Boeing Co. (BA) doesn’t believe it can win the controversial competition for a $35 billion U.S Air Force tanker contract without a six-month extension, and now has threatened to pull out of the competition altogether.
The Chicago-based Boeing said it wants the extension to incorporate what the aerospace giant contends are essentially new requirements calling for a bigger tanker with a larger fuel-carrying capacity. The Pentagon has told the bidders it will grant two months for the bidders to assemble and submit their new proposals, a Boeing official told the Atlanta Business Chronicle.
“If we’re unable to secure sufficient time to…
26Aug2008 | Money Morning | Comments Off | ContinuedBoeing Lands $10 Billion in Emerging Market Deals
Air China announced yesterday (Wednesday) that it will buy 45 The Boeing Company (BA) jets to help cover increased domestic demand at a time when many Western airlines are struggling to overcome high fuel prices and declining traffic.
Air China will buy 15 Boeing 777s and 30 Boeing 737s at a cost of $6.3 billion, the company said on its website. The purchase will increase Air China’s fleet by 35%, as the company competes with other Chinese carries for a dominant share of a market that is expected to grow 9% annually over the next several years, The Associated Press reported.
Whereas…
17Jul2008 | Money Morning | Comments Off | Continued
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