Boeing Needs to Settle Its Machinists Strike — Now: Thomas Black

Kelly Ortberg, the chief executive officer of Boeing Co., on Wednesday morning had his first earnings conference call with analysts, who heard him lay out more details about his plan to return the planemaker to its status as a world-class maker of commercial aircraft. By Wednesday night, the plan had already stalled when a majority of about 33,000 unionized workers turned down the company’s latest contract proposal.

Some 64% of the members of the International Association of Machinists rejected a sweetened offer that would have boosted their pay by 35% over four years and raised the match on their 401(k) retirement plans ...