Striking union workers will vote for a 38% wage hike after reaching another tentative agreement with Boeing. Leaders recommend approving.
Ron Epstein, Bank of America Global Research aerospace and defense analyst, joins 'Squawk Box' to discuss the state of Boeing's union contract vote, economic impact of the machinist strike, and more.
Tony Bancroft, portfolio manager at Gabelli Funds, discusses the chances striking union factory workers ratify Boeing's latest contract proposal, which has been endorsed by union leadership.
CNBC's Andrew Ross Sorkin reports on the latest news.
Boeing's more than 32,000 unionized machinists walked off the job on Sept. 13. Monday's vote on a new labor deal will be their third since September and marks the company's fourth offer.
Ryanair, Europe's biggest airline, repeatedly criticized Boeing in its latest earnings report. The budget carrier said delays to plane deliveries would lead to a 5 million passenger shortfall.
Boeing U.S. West Coast factory workers will hold a vote on an improved contract offer on Monday that could end a seven-week strike and restart jet production at the troubled planemaker.
Boeing overcharged the Air Force nearly $1 million for spare parts on C-17 cargo planes, including an 8,000% markup for simple lavatory soap dispensers, according to the Pentagon's inspector general.The Defense Department's auditor reviewed prices paid for 46 spare parts on the C-17 from 2018 to 2022 and found that 12 were overpriced and nine seemed reasonably priced. It couldn't determine the fairness of prices on the other 25 items.The Office of the Inspector General said it reviewed the soap dispenser prices after getting a hotline tip.Boeing disputed the findings.
Company that helped build Nasa's Saturn V rockets said to be keen to focus on fixing problems in core aircraft business
Labor costs will rise and earnings will fall for Boeing in future years.
New Boeing CEO Kelly Ortberg has a full plate: his Seattle-area assembly workers are on strike; customers and regulators are breathing down his neck to fix manufacturing quality problems with the company's commercial airplanes; and his defense and space division is bleeding red ink. But if voters return former President Donald Trump to the White House in the Nov. 5 election, he could face a plane-load of new problems.
Prior management was sensitive to the price of the shares and downplayed serious problems. But a deeper analysis was available by a study of competitors, FAA findings, Dept of Defense feedback, and more. I saved many investors the mistake of buying Boeing prematurely over the last 4 years by digging deeper into the real issues.