Posted on 07/19/2003 6:24:10 PM PDT by Destro
Boeing to cut up to 5,000 more jobs-sources
Reuters, 07.16.03, 9:10 PM ET
By Chris Stetkiewicz
SEATTLE, July 16 (Reuters) - Boeing Co. (nyse: BA - news - people), the world's largest aircraft maker, is set to announce it will fire up to 5,000 workers from its Seattle-based commercial jet unit, sources familiar with the situation said on Wednesday.
Company spokespersons declined comment, but the sources said a formal announcement would come on Thursday.
The cuts would affect employees across the jetliner unit, including factory workers, white collar employees and support staff, sources said.
The company is nearing completion of 35,000 job cuts in the jetliner unit in the wake of the Sept. 11, 2001, hijack attacks, which slashed air travel demand and hammered airlines, which in turn have rejected or deferred hundreds of aircraft on order.
Since Sept. 2001, Boeing's total payroll has shrunk to 159,800 from 199,000, a decline of 20 percent. In the jetliner unit, the payroll has shrunk to 58,900 from 93,000, a reduction of 37 percent.
The new job cuts would reduce the current payroll by as much as 8.5 percent.
Boeing has watched its once commanding share of the commercial jet market shrink in recent years and, if company projections prove accurate, European arch rival Airbus SAS will build more jets than Boeing for the first time in 2003.
In recent months Boeing has said it might move a proposed new wide-body jet program, the 7E7, outside of Washington state in an effort to extract tax breaks from the state or others.
Washington has responded by offering more than $3 billion in tax incentives to secure the 1,000 or so jobs, plus potentially thousands more support and supplier jobs, the 7E7 would bring.
In addition, Kansas lawmakers have approved a $500 million bond offering to help Boeing finance 7E7 parts production at its Wichita plant. Boeing will be able to pay the interest with payroll taxes and has agreed to hire some 4,000 workers.
Copyright 2003, Reuters News Service
I would second that and add agriculture.
I'm very much a capitalist, and in fact own my own company; however to me the dynamics of big business are such that if they are not subject to strict control (and regular shearing) they degenerate into cesspools of corruption (thereby allowing Bill Clinton to find a cushy job offer for Monica at Revlon).
I'm with you 100%, and appreciate your clarification.
I'm very much a capitalist, and in fact own my own company; however to me the dynamics of big business are such that if they are not subject to strict control (and regular shearing) they degenerate into cesspools of corruption (thereby allowing Bill Clinton to find a cushy job offer for Monica at Revlon).
I'm with you 100%, and appreciate your clarification.
I started out by being okay with the increased security. But they kept pushing and pushing, and now they have xray machines that render you nude.
Eff airlines. I'll drive.
I know now that when I hear Rush on the radio attack labor, or defend big business concerns like the radio consolidations I feel disgust in my gut.
Labor then management failed America in the 60s and 70s, and now finance has failed America in the 80s and 90s. Just give me the small business man any day.
The need to bring manufacturing back to America is a national security item for me. In the meantime only skilled blue collar labor like plumbers and mechanics and small business owners will be able to make a go of it with the rest of the population possessing no different marketable skill that a cheap worker can provide.
I know now that when I hear Rush on the radio attack labor, or defend big business concerns like the radio consolidations I feel disgust in my gut.
Labor then management failed America in the 60s and 70s, and now finance has failed America in the 80s and 90s. Just give me the small business man any day.
The need to bring manufacturing back to America is a national security item for me. In the meantime only skilled blue collar labor like plumbers and mechanics and small business owners will be able to make a go of it with the rest of the population possessing no different marketable skill that a cheap OVERSEAS worker can provide.
My three boys and I are big fans of "Choppers" as well. I keep ribbing the guys that Paul Sr. is my role model as the perfect dad. Right now I'm letting my beard grow so that one night they'll be surprised when dad walks in the door with a "Paul special" on his face, and raising H*ll that homework isn't done yet! :)
I loved how during the FIRE BIKE episode the maker of the carburetor took it on his own to design ot like a fire hydrant and to show up with his crew in person to see it fire up, Or during the COMMANCHE BIKE episode, the engine builder showed up on short notice to fix the engine.
Those guys are Americans, they get no medical benefits, no tax breaks, no thought from our establishment.
But also as a classicist of Greek civilization I can tell you that the middle class, the small land holders, where the democracy and that the rich of Athens on purpose willingly gave up their wealth (now we would call it redistribushion of wealth) in order to create as much of a middle class as possible.
The rich created democracy because they feared that the poor who outnumbered them would one day take all their wealth away.
By creating a sizable middle class they richm still were rich, just not as rich and the poor diminished and had an opportunity to rise up.
We need to breed MORE middle class in this nation. That does not mean MORE jobs since the jobs created are less and less true MIDDLE CLASS jobs that can support a family unless BOTH parents work.
The myth that women work to have a life outside of the family is just that, a myth. Women work because the family needs the income.
As a family values conserbative how can you support that? I can't. We need jobe created and PROTECTED that can provide enough income that one member of the household can provide for his family's needs and support a middle class lifestyle that our democracy and freedom depends upon.
Yes, I know I sound like am jousting with wind mills.....
About a week ago I flew from Atlantic City to Florida and back. First time I'd been through security since TSA took over. IMHO - better than post 9/11 / pre-TSA. They were pretty professional; I felt like I was treated with respect.
The biggest suprise was that my checked-bag had to go through a screening. I had to take it over to the area, it was opened, and all compartments were opened and brushed with some kind of detection strip (my guess is a test for bomb material). I THINK THIS IS A GOOD IDEA. It always seemed dumb to check carry-on but not checked-on (remember Lockherbie). I felt safer. Not a perfect system (next step, test cargo), but better (again IMHO). But I don't fly alot.
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