It's Boeing's Version of 'The Bachelor,' and 4 More Things to Know Today

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Bidding on Boeing
AP/The Boeing Co.
• In what could be viewed as a manufacturing version of "The Bachelor," a dozen states are trying to make themselves the most attractive place for Boeing to build its new 777X jumbo jet. The winning state will gain thousands of jobs and billions of dollars in economic growth, which is why each is attempting to present the most alluring combination of land deals, tax credits and breaks, and financing, among other things. As so often is the case, bachelor Boeing (BA) is only on the prowl because it recently had its heart broken -- in this case, by unionized machinists in Washington state, who rejected a proposed labor contract that would have given that state the 777X gig.

• The jobs report came out this morning, and U.S. unemployment is down to 7.0 percent, its lowest level in 5 years. The Labor Department said the economy created 203,000 more jobs in November; a Reuters poll of economists had predicted payrolls rising by just 180,000, while CNNMoney's consensus estimate was 183,000. But the bigger surprise may be that the stock market finally appears ready to treat good news like good news. Instead of plunging on the report (due to the usual fear that positive economic indicators will lead the Fed to taper its stimulus sooner), stocks rose on the idea that the economy might be getting strong enough that it can handle being weaned off the Fed's loose money policies.

• Another ongoing economic tale in this country has been our impressive energy boom, but the U.S. isn't the only country experiencing a hydrocarbon gold rush. Statoil (STO) and ExxonMobil (XOM) revealed Friday that they've made another huge natural gas discovery off the coast of Tanzania. It's their fifth find in the area, and raises the East African nation's credibility as a newly emerging player in the global energy game.

• On Thursday, protestors in 100 cities across the country again picketed fast food chains over the poverty level wages they pay their workers. So far, these public shamings haven't moved the needle much on the minimum wage issue, and plenty of Americans aren't all that sympathetic to the workers' demands. But our friends over at The Atlantic would like to remind us of this little fact: There was a time, not so long ago, when a full-time minimum-wage job was actually enough to lift a family of three above the poverty line. Today, a single parent with one child, working 40 hours a week for minimum wage, would still be living in poverty.

• And finally, on Thursday and Friday, Shanghai, China, recorded some of the worst air pollution days in that nation's history -- and that's saying something appalling considering China's usual pollution problems. To blame: Coal-fired power plants that are heating the city. Which makes us doubly glad to have read this in the New York Times: "More than two dozen of the nation's biggest corporations, including the five major oil companies, are planning their future growth on the expectation that the government will force them to pay a price for carbon pollution as a way to control global warming." And those businesses apparently don't see it as a political problem to be fought -- just a practical business issue to adapt to.

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43 Comments

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Mark

http://www.reuters.com/article/2013/12/06/us-boeing-777x-analysis-idUSBRE9B501S20131206

December 07 2013 at 12:20 PM Report abuse rate up rate down Reply
ectullis

What about the other 45 states?

December 07 2013 at 8:10 AM Report abuse rate up rate down Reply
m0000lld

Boeing should go to a state thats union free. Save a ton of money

December 06 2013 at 11:38 PM Report abuse rate up rate down Reply
2 replies to m0000lld's comment
JJ

Your name definitely says it all about your personality and what is wrong with this country

December 07 2013 at 1:31 AM Report abuse rate up rate down Reply
ggblank1603

They did just that years ago

December 07 2013 at 8:55 AM Report abuse +1 rate up rate down Reply
2 replies to ggblank1603's comment
steblawar

You mean they tried, the Feds wouldn't let them move existing production out of the Washington to another State. Ironically in this case the Washington State governments involved wanted to help Boeing remain competitive and build the new production there, but apparently the unions figure "getting theirs" right now is more important than adding thousands of new jobs in their own State ... or even keeping the jobs they have down the road as current production lines get replaced with new products.

December 07 2013 at 9:23 AM Report abuse +1 rate up rate down
wmacdaniel

any company has the right to relocate all or part of it the Feds should not have the right to say a darn thing this country is not Nazi Germany, Stalin's USSR or Mao's China? or is it? If I had been head of Boeing and they told me that that you betcha I would have moved all production out of the country Screw the Unions Screw the Govt

December 07 2013 at 9:46 AM Report abuse rate up rate down
cdaviddrum

Corporations who play these kinds of games are not quite as unpatriotic as those who move factories overseas, but they're in the same league..

December 06 2013 at 10:33 PM Report abuse +1 rate up rate down Reply
doccus

Huntsville, Alabama has plenty of aerospace folks ready to help build jets. We have enjoyed an influx of Boeing employees in the past and welcome more.

December 06 2013 at 9:33 PM Report abuse +1 rate up rate down Reply
1 reply to doccus's comment
JJ

Nobody wants to live in alabama

December 07 2013 at 1:30 AM Report abuse -2 rate up rate down Reply
2 replies to JJ's comment
pdbliz

ARE YOU RACIST.?????

December 07 2013 at 9:16 AM Report abuse +2 rate up rate down
pdbliz

JJ...I guess that stands for JOHN,,,JOHN.????
There are good people in all 50 states.......Wife and I took our camper,,headed to Mane Oct,,,,,,,We got to New York state....Stayed at a KOA Campground,,,,,The people were super nice....I always heard about NEW YORK.....In this case,,,,not true....NICE PEOPLE,, March we went to Yellow Stone,,Grand Tetons,,,,passed throught a huge number of states,,,,ALL NICE PEOPLE....,,,,,,We always had a crowd of people around,,they like to hear our Southern Talk,,,,,.....We went to N.J.....New York, ,Penn,,,,,and,,5 more states...on the trip to Maine.....
ALL NICE PEOPLE,,,,,,!!! ...Unless you have been there,,,DO NOT JUDGE.....

December 07 2013 at 9:28 AM Report abuse +3 rate up rate down
clyogi

Unions in Seattle think they won by losing the 777 production. The Los Angeles/Long Beach area has factories and airplane production workers begging for these jobs. Boeing is not afraid of the unions or their idiotic leadership. They moved their headquarters a few years ago and it is only a matter of time when no Boeing jobs are left in Seattle. Yes, the unions sure won this one, big time.

December 06 2013 at 8:26 PM Report abuse rate up rate down Reply
1 reply to clyogi's comment
Bob

The Boeing 707, 727, 737, 747, 757, 767, 777 etc. have been proven to be the safest and most successful airplanes to ever fly. Most people feel more secure flying on a Boeing aircraft than any other in the world. These planes were built by skilled union workers and engineers. Who would want to fly on an aircraft built by low wage workers ? Not me or my family.

December 06 2013 at 9:46 PM Report abuse +1 rate up rate down Reply
2 replies to Bob's comment
ggblank1603

Belonging to a union does not make one any smarter or a better worker---often it's the opposite

December 07 2013 at 8:57 AM Report abuse +1 rate up rate down
jjudy060

well Bob.................. the low wage workers are in SC.

December 07 2013 at 9:48 AM Report abuse rate up rate down
iberopin2

I would rather see Boing open a plant in the south . China is already building enough aviation product for the USA.

December 06 2013 at 5:44 PM Report abuse +1 rate up rate down Reply
wmacdaniel

Washington state in particular UNIONS their can only blame themselves High unions costs of doing buisness has closed many a plant in this country, Bankrupted many a buisness and do so by what seems to be legalized Extortion. Time to out law unions the Rico laws should be used on them,. The Unions sued Boeing when they wanted to move most of the production of the Dreamliner to South Carolina. I couldn't blame Boeing at all if they moved all production of all planes out of Washington state and to Right to work states SCREW the unions

December 06 2013 at 3:57 PM Report abuse +3 rate up rate down Reply
3 replies to wmacdaniel's comment
lacourtbld

Len, I have to agree with you except your miss one point. They will find these talented workers from the ranks of the union in Seattle. They will teach the new workers and Boeing lives on to continue to compete with AirBus.

December 06 2013 at 3:35 PM Report abuse -1 rate up rate down Reply
rich

Can you believe it, those people from the South will take all those lousy 20~30 dollar an hour jobs they can get. They should visit the North, you know Detroit, Chicago and like. There they will receive an education on how the system really works. Don\'t forget to make a stop in the state of Washington and be sure to pick the empty minds of the union leaders/workers.

December 06 2013 at 3:20 PM Report abuse rate up rate down Reply
2 replies to rich's comment
pdbliz

Before you head north,,,be sure to have your bullet vest and hand gun in car...
Take your hub caps off....and all radios out.!!!!!!

December 06 2013 at 3:39 PM Report abuse -1 rate up rate down Reply
betty_brock

Detroit and Chicago are bankrupt.

December 06 2013 at 4:54 PM Report abuse rate up rate down Reply