ALJAZEERA: …By signing the deal, the union ensured that construction of the 777x would remain in Washington – but at the cost of a significant cut in retirement benefits for its members, due to a shift from a defined benefit pension system to 401(k) plans.
In addition to the pension issue, opponents decried increased health care expenses and slower wage growth. However, some machinists will likely see their base salaries rise above $100,000 under the new agreement…
The aircraft maker had received offers from 22 states interested in hosting a new factory to build the successor to its popular 777 wide-body jet… (more)
Recent commenters have said an industrial policy is needed. Looks like the state of Washington has an industrial policy that pays Boeing 9 billion to stay in Washington. Hope Washington state taxpayers like it as much as Boeing does.