Boeing set to buy back Spirit

[gcode]

Fortune Magazine

[mowens]

Rumors last week were saying July 8.

[gcode]

Most of the article was about how this would affect Spirit and Spirit's union workers in the UK
A good portion of Sprint's UK work is for Airbus and no one knows how this buyout will affect
the Airbus work or the union workers who do that work.

[mowens]

Spirit in Kinston, NC also does only Airbus work. As far as I know, they aren't union, but I could be wrong.

[CNCAppsJames]

Mulally cost them a fortune....

I hear Alan has dirt on Boeing and is going to testify... Just sayin'...

 

[mowens]

Apparently, Boeing has decided they can't afford $4 billion in cash and now want to use stock to make the purchase. Apparently, it has burned through $1 billion a month in cash so far this year.

All the talk is about Boeing and Airbus. 10-15% of Spirit's income is from defense and space, the group I'm in. No one knows what will happen to us.

[neurosis]

No one knows what will happen to us.

What ever you do, don't come out as a whistle blower.

[mowens]

What ever you do, don't come out as a whistle blower.

Only in strip clubs.

[gcode]

If I remember correctly, Boeing's decision to move some facilities to non union, right to work states
was made following a long and bitter strike at the Washington state plants.
I've often wondered if a lot of Boeing's troubles since then were the result of the union slow walking and obstruction.
 

[mowens]

There are some fundamental issues with the facility in North Carolina.

[CNCAppsJames]

If I remember correctly, Boeing's decision to move some facilities to non union, right to work states
was made following a long and bitter strike at the Washington state plants.
I've often wondered if a lot of Boeing's troubles since then were the result of the union slow walking and obstruction.
 

IIRC, the Virgin Airlines guy... Richard Branson I believe... anyway, he told Boeing in no uncertain terms they better get their labor issues squared away or he'd no longer buy planes from them. That's when the NC Plant was born.

I have no doubt NC has issues. The issue is the Union. It is their policy that right to work states and the employees that want that freedom to negotiate on their OWN behalf are the enemy and they will destroy them at all cost, even if it means destroying themselves AND the companies they work for in the process.

Unions think they are going to win. They think they are going to bring back the glory days. Maybe in the Public Sector, but private sector... they are living on borrowed time.

[mowens]

I made a mistake. Kinston, NC is a Spirit facility, not Boeing. It still has some fundamental issues

The South Carolina Boeing facility started as a Vought plant, making fuselage sections for the 787. They couldn't get their stuff together and Boeing bought them.


Boeing South Carolina began in 2004 as two companies: Vought Aircraft Industries, Charleston Operations; and Global Aeronautica LLC. In July 2009, Boeing purchased both operations, dissolving the joint venture and creating Boeing Charleston, which later became Boeing South Carolina.

[mowens]

One of our military customers just suspended funding on a project we've been going balls to the walls on, directly related to the Boeing acquisition. 

[Brad St]

Hopefully it's one of those projects you get paid for up to the point of what you've worked on already and you were a month ahead of schedule...right =)

[mowens]

Riiiigghht.