Business
Boeing Factory Workers Are Voting Whether To Strike And Shut Down Aircraft Production
Boeing waited to learn Thursday whether 33,000 aircraft assembly workers, the majority of whom are based in the Seattle region, would go on strike and halt production of the company’s best-selling jets.
Members of the International Association of Machinists and Aerospace Workers were voting on whether to accept a contract offer that included a 25% salary increase over four years. If the manufacturing workers reject the contract and two-thirds vote to strike, the work stoppage will begin Friday at 12:01 a.m. PDT.
Boeing Factory Workers Are Voting Whether To Strike And Shut Down Aircraft Production
A walkout would not result in flight cancellations or have a direct impact on airline passengers, but it would be another blow to Boeing’s reputation and finances in a year marked by issues in its aircraft, defense, and space divisions.
New CEO Kelly Ortberg made a last-ditch effort to avoid a strike Wednesday, assuring machinists that “no one wins” in a walkout.
“For Boeing, it is no secret that our business is in a difficult period, in part due to our own mistakes in the past,” Mr. Musk said. “Working together, I know that we can get back on track, but a strike would put our shared recovery in jeopardy, further eroding trust with our customers and hurting our ability to determine our future together.”
According to Boeing, the machinists earn an average of $75,608 per year, not including overtime, and this figure will climb to $106,350 at the end of the four-year deal.
Although the contract’s negotiating committee recommended ratification, IAM District 751 President Jon Holden predicted earlier this week that workers would vote to strike. Many of them have made complaints about the agreement on social media.
Voting began at 5 a.m. local time at union halls in Washington state, Portland, Oregon, and a few other sites, with results anticipated late Thursday.
A strike would halt production of the company’s best-selling airliner, the 737 Max, as well as the 777 or “triple-seven” jet and the 767 cargo plane, at plants in Everett and Renton, Washington, near Seattle. It is unlikely to affect Boeing 787 Dreamliners, which are produced in South Carolina by nonunion workers.
Based on Boeing’s strike history, TD Cowen aerospace analyst Cai von Rumohr believes a walkout might stretch until mid-November, when workers’ $150 weekly payments from the union’s strike fund may appear low heading into the holidays.
According to von Rumohr, a strike that lasts that long may lose Boeing up to $3.5 billion in cash flow because the corporation receives roughly 60% of the sale price when it delivers a plane to the buyer.
Union negotiators unanimously urged workers to endorse the provisional deal signed over the weekend.
Boeing has vowed to manufacture its next new airliner in the Puget Sound area. That airliner, which isn’t due until the 2030s, would replace the 737 Max. That was a significant victory for union leaders, who want to avoid a repeat of Boeing shifting Dreamliner production from Everett to South Carolina.
However, the agreement fell short of the union’s initial demand for 40% wage increases over three years. The union also wanted to reinstate traditional pensions, which were eliminated a decade ago but settled for an increase in Boeing contributions to employees’ 401(k) retirement plans.
Boeing Factory Workers Are Voting Whether To Strike And Shut Down Aircraft Production
Holden told members on Monday that the union had achieved everything it could in negotiations and suggested that the contract be approved “because we can’t guarantee we’ll be able to achieve more through a strike.”
“They’re upset. They desire so much stuff. “I believe Boeing understands this and wishes to satisfy a significant number of them,” said aerospace analyst von Rumohr. “The question is, are they going to do enough?”
Boeing’s reputation suffered when two 737 Max airliners crashed in 2018 and 2019, killing 346 passengers. The safety of its goods was called into question again after a panel on a Max blew out during a trip in January.
SOURCE | AP
Business groups are urging Justin Trudeau’s government to stop labor unrest at Canada’s main ports, as it did with railways in August, to avoid supply chain disruptions.
Hundreds of dock foremen in British Columbia ports have been on strike for a week. On Sunday, employers at Montreal’s port locked out 1,200 unionized workers after they rejected a contract offer that promised a 20% salary raise over six years.
Businesses report that the work disruptions are harming ports that handle approximately C$1.2 billion ($860 million) of products daily. They want Labor Minister Steven MacKinnon to refer the case to the Canada Industrial Relations Board, which can send the parties to arbitration to settle the disagreement.
He used that technique over two months ago to halt labor stoppages at Canada’s two main railways. However, the government’s use has sparked resentment among some unions.
The Teamsters Canada Rail Conference has filed a court challenge, claiming that the government’s actions in the railway conflict set a dangerous precedent by breaching workers’ constitutional rights.
Soon after, the pro-union New Democratic Party ripped up a legislative arrangement in which it committed to vote with Trudeau’s Liberals to advance critical legislation.
It’s unclear whether the government currently has enough support to enact a back-to-work law, which would be required to end the port issue.
According to Michel Murray, a Montreal Longshoremen’s Union representative, the port employers “act as bullies,” and refusing to talk indicates that “they clearly want the federal government to intervene.”
“Nearly C$6 billion worth of goods are expected to arrive at the port over the next two weeks,” Michel Leblanc, CEO of the Chamber of Commerce of Metropolitan Montreal, said in a statement. “The urgency is real.”
Goldy Hyder, CEO of the Business Council of Canada, stated that the conflicts “continue to weaken Canada’s economy and tarnish its reputation as a reliable trading partner.”
“Canada’s ports will continue to lose market share if the country’s reputation for labor instability is not corrected soon,” Hyder wrote in a letter to MacKinnon and Transport Minister Anita Anand on November 9.
According to a group of port employers, the Montreal offer would have increased the average dockworker’s pay by more than C$200,000 annually.
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(VOR News) – Amazon has verified that employee data was stolen to the extent that it was compromised as a result of a “security event” that took place at a third-party vendor. The event brought about the compromise of data.
According to a statement that was provided to TechCrunch on Monday, the information that pertains to Amazon employees was revealed as a result of a data breach. This information related to Amazon employees was disclosed.
Amazon spokesman Adam Montgomery issued the statement.
When it comes to Amazon’s or Amazon Web Services (AWS) systems, there have been no security breaches that have taken place, and we have not encountered any security problems. An incident that occurred at one of our property management providers and included security was brought to our attention over the course of the investigation.
This problem had an effect on a number of the company’s customers, including Amazon, and we were informed about it. Other customers were also affected. Montgomery asserts that the only information that was disclosed was that of the work contact information of Amazon workers. As far as Montgomery is concerned, there was no further breach of security.
Among the things that were listed in this category were things like work email addresses, desk phone numbers, and the locations of buildings.
The number of employees who were affected by the security vulnerability has not been acknowledged by Amazon, nor has the total number of employees who were affected been released.
Additionally, it was stated that the third-party vendor, which was not named, does not have access to sensitive data such as Social Security numbers or financial information. This information was described as being kept confidential. The information in question was not made public. The vendor has reportedly fixed the security flaw that was responsible for the data breach that took place, according to reports that were received.
Hackers said they posted Amazon data on Breach Forums. It has been determined that the information in question is accurate as a consequence of this declaration. Additionally, the individual alleges that they have more than 2.8 million lines of data, which they allege was stolen during the mass-exploitation of MOVEit Transfer that took place the previous year.
Using the alias “Nam3L3ss,” the threat actor claims that they have disclosed information that was purportedly taken from twenty-five big corporations, as indicated in a study that was carried out by the cybersecurity company Hudson Rock. The analysis was done by Hudson Rock.
The assumption that the threat actor makes is that “the data that you have seen up to this point is less than .001% of the total data that I possess.”
This is the Amazon assertion that they make.
The public will have access to one thousand releases that have never been seen before in the history of record releases. The journal TechCrunch has attempted to get in touch with the other firms that were identified by the threat actor; however, the magazine has not yet received any additional responses to the inquiries that it has made.
It was the MOVEit breach, which took place in 2023, that was the most catastrophic breach that ever took place. The file-transfer software that was developed by Progress Software was vulnerable to a zero-day vulnerability, which allowed attackers to take advantage of the weakness and cause this breach.
More than one thousand businesses were impacted by these incursions, and it is believed that the notorious Clop ransomware and extortion ring was responsible for them. Through the utilization of ransomware, hacks were successfully carried out.
Not only did the data breach affect the Oregon Department of Transportation, which had 3.5 million pieces of information stolen, but it also affected the Colorado Department of Health Care Policy and Financing, which had four million pieces of information stolen, and Maximus, which is a giant in the United States government services contracting market, which had 11 million pieces of information stolen.
SOURCE: TC
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(VOR News) – The following day, Bitcoin achieved a new record high as a consequence of traders’ wagers on the potential benefits of Donald Trump’s return to the White House for the cryptocurrency.
This was an additional factor contributing to Bitcoin’s recent record-breaking performance.
This resulted in Bitcoin’s first-ever record-breaking high.
The digital currency’s inaugural transaction, valued at eighty thousand dollars, was executed one hundred twenty minutes after twelve o’clock in the afternoon (1200 GMT). This occurred shortly after the timepiece reached twelve.
The conviction that President Trump may reduce laws on digital currencies has increased as a result of his victory in the presidential election that occurred in the United States on Tuesday. This conviction has been bolstered by his election victory. Since the election was won by the Republican nominee, Trump, this mentality has been gradually cultivated.
On Wednesday, the price of bitcoin achieved a new all-time high of $75,000, surpassing the previous all-time high of $73,797.98, which was achieved in March. This item has attained the highest price to date.
It was widely believed that Trump was the politician who embraced Bitcoin during his campaign against Kamala Harris, the Democratic Party candidate. Harris was a candidate for the Democratic Party in the Senate campaign.
Donald Trump employed the term “hoax” to describe cryptocurrencies during his inaugural tenure as president of the United States. However, in the time that has passed since then, he has experienced a substantial change in his viewpoints, which has even resulted in the creation of his own committee platform.
In addition to his pledge to establish the United States of America as the “bitcoin and cryptocurrency capital of the world,” he has also committed to appointing Elon Musk, a tech entrepreneur and right-wing conspiracy theorist, to the role of overseeing a comprehensive investigation into the government’s wasteful practices.
Both of these commitments are components of his strategy to enhance the prosperity of the United States of America. It is crucial to acknowledge that he has made a commitment to both of these.
The administration of President Trump was responsible for the reduction of corporation taxes, which resulted in an increase in market liquidity and facilitated the investment in high-growth assets, such as cryptocurrencies. Through the administration of President Trump’s predecessor, this was accomplished.
The previous administration benefited from a decrease in the tax rate for Bitcoin companies.
In September, President Trump announced that he, his sons, and other organizations would be creating a digital currency platform known as World Liberty Financial. The development of this platform would also incorporate the participation of other businesses. The network would facilitate the conversion of digital currency into corporeal currency.
Nevertheless, it experienced an unsuccessful sales launch earlier this month, with only a small percentage of the tokens that were placed on the market being purchased by consumers. This incident transpired earlier this month. From this, it is possible to infer that the launch was unsuccessful.
Cryptocurrencies have been the subject of numerous news articles since their inception. The FTX exchange platform is the most notable of the numerous industry stalwarts that have fallen, and these stories have covered a wide variety of subjects, including the immense volatility of their pricing. Numerous topics have been addressed in these narratives.
According to reports that circulated in the days preceding the election, he made history by becoming the first former president to utilize bitcoin to conduct a transaction. Donald Trump achieved historical significance by conducting a transaction using bitcoin. This could be considered a significant accomplishment.
He accomplished this by purchasing hamburgers from a restaurant in New York City, which characterized the transaction as “historic.” He succeeded in achieving these objectives. Because of this opportunity, he capitalized on it.
Bitcoin, a digital currency, is transacted on the market every day of the week, including Sundays.
SOURCE: TET
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