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DEAL Machinists Sign Boeing Contract Ted S. Warren/AP

Machinists Sign Boeing Contract

The Machinists union signed an eight-year contract with Boeing, offering concessions in exchange for the aviation giant’s decision to assemble its new 777X plane in the Seattle area. Boeing and Washington governor Jay Inslee applauded the deal, with the latter saying Washington had “secured its future as the aerospace capital of the world.” Local union officials had urged workers to oppose the deal, which allows the highly profitable Boeing to freeze employee’s pensions and change their savings plans. But they were overruled by national union leaders, and the deal was approved by a narrow 51 percent vote. Shocked opponents blamed political pressure, and workers’ fear for their jobs in the wake of Boeing’s threats to move production elsewhere.

January 4, 2014 11:52 AM