Technology Stocks | Boeing keeps setting new highs! When will it split?


Previous 10 | Next 10 
To: campe who wrote (2639)2/22/2000 3:51:00 PM
From: steve dietrich   of 3224
 
I imagine the company is trying to downplay the disruptions, and the union/members are trying to emphasize the same. Guess only time will truly tell. I do hope the goose that lays the golden egg doesn't get slaughtered, or even put on a crash diet.

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (3)

To: steve dietrich who wrote (2640)2/22/2000 7:56:00 PM
From: larry larsen   of 3224
 
My biggest concern is the number of engineers who find work other places and don't return. Boeing has a very aggressive engineering agenda over the next 10 years and I don't see how they can realize even a small fraction of their plans with either a demoralized or gutted engineering force. Today, in the 10-16 (Cosgrove) building, 8 engineers crossed the picket line - 4 to announce their retirement and 4 to tender their resignation because they found employment elsewhere.

Isn't it ironic that Stonecipher begrudges a little for the engineers? Have you noticed how much HE gets paid???? And I don't mean the simple fact that corp. officers get re-enumerated very generously they deserve it for the most part - but he redefines the term - excess baggage from the merger.

Damn!!!! Who are the winners from that merger anyway?????

NOT legacy Boeing!!!!!

<sorry for venting - I feel better now>

Share Recommend | Keep | Reply | Mark as Last Read

To: steve dietrich who wrote (2640)2/22/2000 9:31:00 PM
From: larry larsen   of 3224
 
From the Wall Street Journal (as we were saying . . .)

February 22, 2000


--------------------------------------------------------------------------------


Why Rising Young Engineer at Boeing
Has Decided to Type Up Her Resume
By JEFF COLE
Staff Reporter of THE WALL STREET JOURNAL


SEATTLE -- More than most smart kids from the misty suburbs here, Doreen Bingo grew up in the shadow of mighty Boeing Co.

A self-styled "Boeing brat," she eventually followed in her dad's footsteps, becoming an aerospace engineer at the biggest airplane maker in the world. She relishes the work and is proud of her job. So why -- at 30 years of age, after an eight-year string of promotions leading to a $50,000-plus salary -- is she on strike against Boeing and tapping out her resume?

In essential ways, she says, it is because this is no longer her father's Boeing. White-collar labor strife at the company and the less-familial nature of the job have had an impact. So have the Web and software industries, which have transformed the world since her father's day, when Boeing was one of the hottest places for a smart young engineer to work. Today, Boeing may not even be the hottest place to work in Seattle.

Ms. Bingo's reasoning disturbs some Boeing executives, who say they are eager to retain both rising young engineers like her and those whiskered veterans who have prospered under the jet maker's traditional pay-for-performance system. Surprised by an unprecedented strike by well over three-quarters of Boeing's 22,000 union-represented engineers and technical workers, Boeing leaders like Chairman Phil Condit say they see themselves as drawing a line on costs in order to rebuild and protect the company's future for all its constituents.


Doreen Bingo followed the example of her father, Roy, and signed on as a Boeing aerospace engineer.
But from the perspective of Ms. Bingo -- and thousands of her co-workers on the picket lines -- the company is drifting from principles that made it an industrial legend and a haven for people whose idea of an exciting day at work was searching for an arcane algorithm. She says that when her father, Roy Bingo, joined Boeing in the 1960s, it suffered from big-company bureaucratic ills but at least seemed to appreciate those who designed and supported its high-flying products. An old saw at Boeing was that Boeing hired "engineers and other people."

Loss of 'Respect'

The two-week-old labor dispute, the first white-collar walkout of any real moment in Boeing's 84 years, is ostensibly over pay and benefit offers. But Ms. Bingo says the core of the matter is the company's intransigence in negotiations and its unwillingness to share its recent gains, which she believes reflects both short-term thinking and a loss of "respect." Rousted now by an emotion-charged breakdown in contract talks, members of Boeing's once-docile Society of Engineering Employees in Aerospace have decided they want the guaranteed pay raises, bonuses and benefits won by the tougher Machinists union last fall.

Neither side is budging for now, and the strike has stalled deliveries of some airliners. One union cry is "No Nerds. No Birds," as longer-simmering angst boils onto Seattle's sidewalks.

"It seems like we at the lower levels have a longer-term vision," says Ms. Bingo, a tall, athletic Japanese American. Sipping a diet soda at a downtown Boeing hangout otherwise populated by beer-drinking male mechanics, Ms. Bingo tells of feeling "disconnected" from company leaders who seem to want "whatever it takes to get that stock price up. Whether it's good for the long-term growth of the company or not, it doesn't matter."

The job of a Boeing engineer is changing. These days, few of them are devising sleek new planes. Nonetheless, before the strike, as they filed daily into the cavernous factories and vast office complexes that dot the Seattle landscape, Boeing's engineering legions generally seemed satisfied tending to the millions of other tasks required to keep the giant jets moving and new military planes and systems on track.

Hundreds of specially certified veterans sign off on the detailed inspections that assure that jumbo jets comply with encyclopedic federal safety-related design rules. Other elite "technical fellows" invent new processes and devices, such as ultrasound machines that can detect defects deep inside castings or underneath shiny coats of paint.

Engineers also scramble when panicky airline managers call about the peculiar problems that are keeping their $190 million-a-pop planes grounded on far-flung taxiways. Sometimes a carrier just needs some software adjustments to permit a safe takeoff at a newly served airport.

In some of the most common jobs, engineers and technicians scurry through labyrinthine production lines -- sifting through their memories and catalogs of data -- to correct problems involving mismatched pipes and other mechanical and electrical parts and devices. Thousands of them tweak factory tools to make them more efficient or rejigger cabin designs to satisfy choosy buyers. Hundreds more spend their time training new arrivals and shuffling the acres of paper it takes to produce an airplane.

Ms. Bingo's eyes light up when she describes her own job, at a windowless post in a testing center, where she writes software for new "smart sensor" systems that will help test the strength and durability of everything from flight-control surfaces to luggage bins.

'Just Amazing'

The senior engineers who oversee her "are just amazing" specialists, she says, and she feels lucky because her work is front-end research and "there isn't much money for new development."

Climbing on the planes as a passenger, she feels a certain satisfaction when the landing gear lifts and she considers that her data-and-control code helped run the lab that tested whether some of the parts would work properly. Ms. Bingo also considers herself fortunate because she cut her teeth helping to test Boeing's last all-new airplane type, the advanced 300-seat 777, in the early 1990s. Clamoring over the wings of a permanently grounded test model, she positioned sensors and managed machines that literally stressed crucial parts past the breaking point.

"It was pretty cool knowing we were the leader in aerospace," she recalls. The team spirit on the 777 program overshadowed pricklier realities of Boeing life, including rounds of layoffs and rehirings and a merit-based pay-pool system that Ms. Bingo says can pit one engineer against another to win raises.

Ms. Bingo's ultimate boss, commercial-airplane group President Alan Mulally, winces when he hears she may look for a new programming job somewhere in western Washington's flourishing software enclave. Mr. Mulally, who worries about the possible longer-term impact of the walkout, oversaw the 777's birth and has led the airplane unit's effort at recovery after two years of snarls that cost the company dearly.

Boeing needs to control its costs to compete with European rival Airbus Industrie, says Mr. Mulally, and it also needs an energized technical work force. "I'm disappointed that we are where we are," he says.

A bright spot amid all the anguish at Boeing is that many workers say they still want the company to prosper, and some suggest that success could mean jobs for their children.

Roy Bingo, who used to bump into his daughter at work, figures now may be the time for his daughter to move on. The link between Boeing and its technical professionals "used to be a good partnership," says the retired engineer, "but that seems to be disappearing."

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (1)

To: larry larsen who wrote (2642)2/23/2000 10:03:00 AM
From: Wally Mastroly   of 3224
 
New Boeing Strike Talks Scheduled:


dailynews.yahoo.com 

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (2)

To: Wally Mastroly who wrote (2643)2/24/2000 11:27:00 PM
From: P.M.Freedman   of 3224
 
abcnews.go.com 

Share Recommend | Keep | Reply | Mark as Last Read

To: steve dietrich who wrote (2640)2/25/2000 6:44:00 AM
From: Marvin L.Covey   of 3224
 
Put 5% of 401k in yesterday at 36 3/8. Sci & Tec has made me $89,000 since "OCT" 99. Almost a $1,000 a day...But Boeing look good here but I will not ride it up much..8% in one day like last Tuesday make be want to own it..will buy more if it goes down from here.. $242,000 and counting..I love FTCHX. $50 with with ira will get you in.

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (2)

To: Marvin L.Covey who wrote (2645)2/25/2000 8:29:00 AM
From: P.M.Freedman   of 3224
 
Princeton, New Jersey, Feb. 25 (Bloomberg Data) -- Boeing Co. (BA US) was reiterated near-term ''accumulate'' by analyst Byron K Callan at Merrill Lynch & Co. The long-term rating was reiterated ''buy.''

Share Recommend | Keep | Reply | Mark as Last Read

To: Marvin L.Covey who wrote (2645)2/25/2000 5:20:00 PM
From: steve dietrich   of 3224
 
sounds like you're alive and doing well. Good returns on your sci&tech. what % do you currently have in that?

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (2)

To: steve dietrich who wrote (2647)2/27/2000 11:37:00 AM
From: P.M.Freedman   of 3224
 
Demanding kills the talk
siliconinvestor.com

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (1)

To: P.M.Freedman who wrote (2648)2/27/2000 5:00:00 PM
From: campe   of 3224
 
I'm more like the Janus Fund guy on the radio commercial. I'm cautious with company PR and like to hear what the folks on the inside (doing the work) are saying.

Something seems to be fundamentally wrong with BA and its management for this to get out of control like it has. When will the BoD step in? Are they waiting for "Wall Street" to give them some direction?

Here's a good letter to the editor and a response from what appears to be a Speea member.
fitermania.com 

I was absolutely disgusted by this letter, which appeared in Saturday's Times: Only thinking of themselves I don't know where to begin, I'm so fed up with people who go on strike, especially when they make enough money.
So Boeing workers want more, besides benefits and bonus. Don't they realize the vicious cycle they start? When they finally get what they want, then we will have the truckers, the nurses and our teachers on strike. Everyone wants more, and yet, do we get good quality for the pay increase? I doubt it. People who are on fixed income or who live from paycheck to paycheck wonder where they will get the money to pay their bills. Most of these people don't have benefits, so they can't go to a doctor or dentist. If you ask me, I feel these strikers are only thinking of themselves.
Helen Thompson, Seattle

I sent a letter to the Times in reply (see below) but after seeing this as well as the KIRO opinion polls, I'm also wondering: what can/should we be doing to combat Boeing's spin doctors? Seems to me that since Boeing ran a full-age ad in the paper maybe we should do likewise so the general public gets our side of the story. Although we have plenty of info on the Net, not everyone out there has access to it!

Here's the letter I sent. I hope they'll print it:

I am writing in response to Helen Thompson's letter of Feb. 26 ("Only thinking of themselves"). She states that "Boeing workers want more, besides benefits and bonus". Besides what bonus? If Ms. Thompson would take the trouble to familiarize herself with the details of either of the contract offers we SPEEA members voted down, she would be aware that there was no bonus offered either time. Furthermore, both offers contained takeaways from the benefits we had in our 1995-1999 contract, despite the announcement of record profits for 1999, and despite the fact that the IAM's new contract had a 10% bonus included with no takeaways.

We saw the handwriting on the wall more than a year ago, when the company forced a 10% medical premium and increased deductibles on our nonrepresented salaried coworkers. The first contract offer was an attempt to do the same to us, and the second merely shifted the takeaways around. The message is clear: Boeing's executives do not recognize the value of their salaried employees. We have to put a stop to this trend NOW. If we don't, not only will our ability to support our families continue to erode, but Boeing's ability to attract and keep talented engineers and technical workers will also.

We're striking because it's high time Boeing executives recognize just how much we contribute to the profitability of the Boeing Company. We've worked hard and earned the right to share in the profits, just as our IAM coworkers have. It's unfortunate that a strike seems to be the only way to get this message across, but it's human nature not to appreciate something until it's gone.

On "living from paycheck to paycheck": I've been a Boeing engineer since 1980, and given the cost of living in the Puget Sound area, I do not personally know anyone working at Boeing who does NOT live from paycheck to paycheck! Perhaps Ms. Thompson has us confused with Microsoft.

Thinking of ourselves? We must -- but more importantly, we're thinking of our families and all the future engineers and technical workers who will follow us.

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (1)
Previous 10 | Next 10 

Copyright © 1995-2013 Knight Sac Media. All rights reserved.