Boeing workers who build fighter jets are on strike, their union says
The walkout began at midnight Central Daylight Time.
About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of Machinists and Aerospace Workers said Sunday.
In a post on X, the union said, "3,200 highly-skilled IAM Union members at Boeing went on strike at midnight because enough is enough. This is about respect and dignity, not empty promises."
IAM District 837 members "deserve a contract that reflects their skill, dedication, and the critical role they play in our nation's defense," District 837 head Tom Boelling said in a statement.
The vote followed members' rejection last week of an earlier proposal from the troubled aerospace giant that included a 20% wage increase over four years.
"IAM District 837 members build the aircraft and defense systems that keep our country safe," said Sam Cicinelli, Midwest territory general vice president for the union, in a statement. "They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise."
Union leaders had recommended approving the earlier offer, calling it a "landmark agreement" and saying it would improve medical, pension and overtime benefits.
The union members rejected the latest proposal after a weeklong cooling-off period.
"We're disappointed our employees rejected an offer that featured 40% average wage growth and resolved their primary issue on alternative work schedules," said Dan Gillian, Boeing Air Dominance vice president and general manager, and senior St. Louis site executive. "We are prepared for a strike and have fully implemented our contingency plan to ensure our non-striking workforce can continue supporting our customers."
Boeing has been struggling after two of its Boeing 737 Max airplanes crashed, one in Indonesia in 2018 and the other in Ethiopia in 2019, killing 346 people. In June, one of Boeing's Dreamliner planes, operated by Air India, crashed, killing at least 260 people.
Last week, Boeing reported that its second-quarter revenue had improved and losses had narrowed. The company lost $611 million in the second quarter, compared to a loss of $1.44 billion during the same period last year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Married 29 Years, A Nurse Built A Real Estate Portfolio Alone. 'He Goes To Play Golf Whenever He Gets A Chance,' She Says About Her Husband
After nearly three decades of marriage, Linda, a 64-year-old nurse from Roanoke, Virginia, says she feels like she's carrying the financial weight of two people. Her husband, also 64, earns about $45,000 a year. Linda makes $115,000. They still owe $180,000 on their home, which is now worth around $400,000. She wants to pay it off before retirement. He refuses. Separate Accounts, Separate Lives 'He just does not want to pay the house off,' Linda said on 'The Ramsey Show' with Dave Ramsey and John Delony. 'I've tried to put my foot down and say, 'When we retire, we're not going to want a house payment.' But he's definitely not on board with that.' Don't Miss: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can The couple keeps their finances mostly separate. They have separate accounts, a house account for bills and groceries, and a joint savings for big repairs. But the rest? Completely divided. She owns two rental properties. He's not involved with either. 'When I bought the first round of property, he didn't want any part of it,' she said. So she just ran it on her own. 'I only owe $12,000 on it, so I'm getting ready to pay it off next.' Her second property, purchased to help her daughter-in-law who was battling cancer, has about $62,000 left on the mortgage. Linda is aggressively snowballing her debts and recently paid off both of their cars. 'He likes his comfy job and he goes to play golf whenever he gets a chance,' she said. 'That's pretty much it.' Trending: $100k+ in investable assets? – no cost, no obligation. This Isn't a Finance Problem The hosts didn't sugarcoat their responses. 'That's not a marriage,' Delony said. 'That's a couple of roommates.' The hosts emphasized that Linda's situation isn't really about money and Delony described the situation as a marriage issue, pointing to the absence of alignment and any shared plan between the couple for handling life's challenges. Ramsey called the financial imbalance and emotional distance between Linda and her husband 'painful.' He said Linda must decide whether to keep going on this path or force a turning point: counseling, confrontation, or separation. Ramsey warned that Linda's husband has no retirement savings of his own, contributes nothing to their financial future, and yet will end up relying on her retirement funds. 'He's going to retire and eat out of your retirement because he doesn't have any retirement,' Ramsey said.A Cautionary Tale For Younger Couples Toward the end of the segment, both hosts turned their attention to younger listeners. 'Please, for God's sake, don't call it love to marry someone that you are not aligned with like that,' Ramsey said. 'That's not love. It's permanent roommate lust.' As for Linda, the hosts weren't hopeful that much would change. 'I wish I'd found you 28 years ago,' Ramsey said. At this stage, it seems likely she will continue managing everything on her own, just as she has for decades. Read Next: The average American couple has saved this much money for retirement —?Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Married 29 Years, A Nurse Built A Real Estate Portfolio Alone. 'He Goes To Play Golf Whenever He Gets A Chance,' She Says About Her Husband originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
22 minutes ago
- Yahoo
MMP Capital Closes Inaugural Asset-Backed Securitization with Strong Investor Backing
The successful MMP Capital 2025A securitization highlights growing investor appetite for sector-focused ABS deals. Backed by medical aesthetic loans, the transaction attracted strong institutional interest, enabled pricing advantages, and marked MMP Capital's strategic expansion into public capital markets and new asset Courtesy of MMP Capital FARMINGDALE, N.Y., Aug. 04, 2025 (GLOBE NEWSWIRE) -- MMP Capital has announced the successful closing of its inaugural Asset Backed Securitization (ABS) transaction. The offering, MMP Capital 2025A, issued $192 million in notes backed primarily by loans secured by medical aesthetic equipment contracts. Demand from the institutional investment community exceeded all expectations. The notes drew thirty-five orders from twenty-seven unique investors, and at final pricing were nine times oversubscribed. The oversubscription allowed MMP Capital to substantially tighten spreads from launch to close, indicating deep market confidence in the credit quality of the underlying assets. The senior tranche of the deal earned a Moody's rating of Aa3, signaling a strong endorsement of the structure and asset performance.'MMP Capital 2025A's overwhelming reception underscores the trust and confidence investors have in our business, our differentiated value proposition for customers and partners, and our disciplined approach to risk,' said John-Paul M. Smolenski, CEO of MMP Capital. 'This inaugural ABS marks a pivotal milestone in our strategy to expand our existing business and explore new asset classes.' The company has built a national footprint by providing flexible, high-speed financing tailored to small business needs. Its specialization in the medical aesthetic space has helped establish a consistent asset base, equipment loans with durable collateral and recurring demand that proved attractive to ABS investors. The securitization marks the company's entry into the public capital markets, providing additional liquidity to expand its financing offerings and reach more customers in established and emerging verticals. It also signals institutional recognition of the quality and performance of MMP Capital's portfolio. The strong reception reflects broader investor interest in asset-backed securities tied to high- performing, sector-specific lending platforms. With many ABS markets seeing increased selectivity amid macroeconomic uncertainty, the scale of demand for MMP Capital 2025A stands out. The company's history of underwriting discipline and loan performance helped drive favorable pricing, even as many issuers face more cautious markets. For more information, visit About MMP Capital MMP Capital was founded in 2013 with a mission to be the gold standard in healthcare equipment finance in the U.S. Led by a management team with vast experience in sales, credit, and operations from several banks, leasing companies, and funding institutions, MMP Capital is uniquely equipped as a hybrid lender to lend directly or utilize a vast syndication outlet. The company's financing options for equipment financing, leasing, and unsecured capital offer U.S. businesses the opportunity to invest in their future, update outdated technology, or offer new services to customers. Contact Information Jamie O'ConnorDirector of Marketing & BrandingMMP Capitaljoconnor@ o: (516) 308-6946 | m: (917) 902-7595 | f: (516) 400-2071 A photo accompanying this announcement is available at in to access your portfolio
Yahoo
22 minutes ago
- Yahoo
'Concerning news': Wall Street worries Trump's BLS firing could shake market confidence
President Trump's firing of Bureau of Labor Statistics (BLS) commissioner Erika McEntarfer has Wall Street worried about the future path of economic data. In a note to clients titled "Concerning news from the BLS," JPMorgan chief US economist Michael Feroli wrote that the removal of the agency's commissioner creates "risks to the conduct of monetary policy, to financial stability, and to the economic outlook." "The risk of politicizing the data collection process should not be overlooked," Feroli wrote. "To borrow from the soft-landing analogy, having a flawed instrument panel can be just as dangerous as having an obediently partisan pilot." The firing came just hours after the BLS released the July jobs report, which showed more than a quarter million fewer jobs were added to the economy in May and June than initially thought. In a Truth Social post on Friday, Trump wrote that "we need accurate numbers" and the numbers "must be fair and accurate." On Monday morning, Trump continued posting on social media about the matter, writing, "last weeks Job's Report was RIGGED." Trump has maintained a stance that the revisions done prior to the 2024 presidential election were made to make the US economy look better under then-President Biden. While last Friday's jobs revisions were "larger than normal," per the BLS, the act of revising data once more information collected is a standard operating procedure for the agency. For Wall Street, the chief concern with Trump's rhetoric is his calling into question the accuracy of key economic data that typically drives the Federal Reserve's monetary policy decision making and is closely tracked by investors for a read on the health of the US economy. "The US public statistics represent the gold standard," Renaissance Macro head of economics Neil Dutta wrote in a note to clients after the firing on Aug. 1. "Calling them into question just because they tell you something you don't like undercuts market confidence." Barclays chairman of research Ajay Rajadhyaksha pointed out in a note to clients on Monday that a US president hasn't attempted to fire an active head of the BLS since President Nixon was in office 50 years ago. Recent examples of statisticians being fired because the heads of government disliked the data include cases in Greece and Argentina. "This move could lead to markets questioning data integrity, especially for releases that surprise investors," Rajadhyaksha wrote. Trump's firing of McEntarfer at the BLS came the same day Federal Reserve governor Adriana Kugler said she will resign from the central bank's Board of Governors, effective Aug. 8. Trump is expected to appoint a new Fed official and a BLS commissioner in the coming days. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. 登入存取你的投資組合
