Published: Wednesday, February 12, 2014, 1:00 a.m.
Cheap approach may not work
When Boeing’s IAM members voted on a contract that cut their benefits and pension, Boeing’s stock went up. When the CEO held a press conference and declared things were going so well that he would not have to cut his own pension or benefits, Boeing’s stock dropped like a rock. More recently, an industry analyst politely suggested putting the squeeze on both line employees and suppliers might not be the best idea in the long term.
From my own perspective, usually on the aisle a third of the way back, riding at 30,000 feet in a plane made the Boeing way is reassuring. Doing the same in a jet made the Walmart way … not so much.
From the stock market reactions, the money folks agree.