Money Minute: Boeing Workers Vote on Jobs; Facebook Sued Over Privacy

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Boeing workers vote on their own jobs.

Union workers at a major Boeing (BA) plant in Washington state are to vote on an eight-year contract extension that could determine whether the aerospace giant moves production of the new 777X out of the state. This is actually a re-vote on a slightly modified contract offer. The union local voted down the earlier offer, but the International Association of Machinists has ordered a new vote.

Boeing Washington
Elaine Thompson/AP
They want to keep the work at a unionized plant, and if this contract is rejected again, Boeing is likely to move production to a nonunion facility in another state. The key issue is Boeing's demand to significantly change workers' pension plan.

American Airlines will repaint 1,100 planes after its workers voted to drop the familiar AA logo on the tail in favor of a red, white and blue abstract U.S. flag design. The company put the issue to a vote after completing its merger with U.S. Airways three weeks ago.

Two Facebook (FB) users have filed suits against the company. They allege that Facebook intercepts private messages sent by users to build profiles on people that could be very valuable to advertisers.

Here on Wall Street, the stock market started off the year on the wrong foot. After a stellar performance in 2013, the market laid an egg in the first trading session of the new year.

The Dow Jones industrial average (^DJI) dropped 135 points Thursday, the Standard & Poor's 500 index (^GPSC) fell 16 and the Nasdaq composite index (^IXIC) lost 33 points.

Despite the weak start, Bank of America (BAC) Merrill Lynch -- the sponsor of this report -- remains bullish. It says there is still a lot of skepticism on Wall Street, and that's a contrarian indicator. The brokerage firm forecasts the S&P 500 will return 18 percent this year.

General Mills (GIS) is responding to consumer concerns about food made with genetically modified ingredients. The company is now making its original Cheerios GMO-free, perhaps the most prominent product to make the change. Groups that oppose GMOs worry they could present health problems to consumers.

-Produced by Drew Trachtenberg.


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RouteUS66Busload

Idiots seek attention on Twitter and Facebook, it's an earthly hidden secrets "Book of Life." Real "Book of Life" upstairs above the clouds doesn't contain most of the the adult names on Twitters or Facebooks? Boeing shouldn't complain.

January 05 2014 at 4:58 PM Report abuse rate up rate down Reply
csp2go

Obvious case of of mistaken thinking. The company exists for our benefit. They are lucky we let them make airplanes.

January 03 2014 at 4:04 PM Report abuse rate up rate down Reply
Phil Collins

Boeing was never planning on moving cause it cost millions just using this ploy to get the Union to cave in on demands !

January 03 2014 at 3:55 PM Report abuse +1 rate up rate down Reply
patrickvashon

Hey look what Jimmy Hoffa did for the union movement.

January 03 2014 at 2:31 PM Report abuse +1 rate up rate down Reply
SKCRCPUSCG

"FACEBOOK SUED OVER PRIVACY"......... The question becomes, what is privacy and does it really exist in the face US government (NSA) spying on the world and all, each and everyone, of us. Anyway, I closed my Facebook account long ago realizing it is a much too open, far reaching forum...... After the Snowden revelations, I'm also more selective in , especially overseas friends, and others I communicate with... Our freedom of expression has been severely impaired..... Snowden is a hero for exposing the scandal that violates common decency and our Constitutional rights. Thank goodness for whistle blowers.


Elaine Thompson/AP
They want to keep the work at a unionized plant, and if this contract is rejected again, Boeing is likely to move production to a nonunion facility in another state. The key issue is Boeing's demand to significantly change workers' pension plan.

American Airlines will repaint 1,100 planes after its workers voted to drop the familiar AA logo on the tail in favor of a red, white and blue abstract U.S. flag design. The company put the issue to a vote after completing its merger with U.S. Airways three weeks ago.

Two Facebook (FB) users have filed suits against the company. They allege that Facebook intercepts private messages sent by users to build profiles on people that could be very valuable to advertisers.

Here on Wall Street, the stock market started off the year on the wrong foot. After a stellar performance in 2013, the market laid an egg in the first trading session of the new year.

The Dow Jones industrial average (^DJI) dropped 135 points Thursday, the Standard & Poor's 500 index (^GPSC) fell 16 and the Nasdaq composite index (^IXIC) lost 33 points.

Despite the weak start, Bank of America (BAC) Merrill Lynch -- the sponsor of this report -- remains bullish. It says there is still a lot of skepticism on Wall Street, and that's a contrarian indicator. The brokerage firm forecasts the S&P 500 will return 18 percent this year.

General Mills (GIS) is responding to consumer concerns about food made with genetically modified ingredients. The company is now making its original Cheerios GMO-free, perhaps the most prominent product to make the change. Groups that oppose GMOs worry they could present health problems to consumers.

-Produced by Drew Trachtenberg.

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The Death of the PC
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January 03 2014 at 2:04 PM Report abuse rate up rate down Reply
usapaydirt

They need to take what they can get since our Government's NSA spying fiasco, on Brazil's government and their citizens, cost Boeing Billions in canceled military contracts......

January 03 2014 at 1:46 PM Report abuse rate up rate down Reply
jjudy060

Boeing aka Boring............... here in SC is a joke of a place to work.

January 03 2014 at 12:52 PM Report abuse -2 rate up rate down Reply
JesusPresley

Now that America has destroyed most labor unions, we Americans can be confident that all of those wonderful jobs providing a living wage, health insurance, Dental insurance, and Pensions will become available to us.

One must remember, the Republicans have promised us for decades that all we need to do is Destroy Labor Unions and allow the Republicans to have 'Nafta, Cafta, Free Trade, etc, and then we would all Prosper in America.

Rest easy, folks - and sleep well - we have allowed the Republicans to ship all of the jobs overseas while simultaneously Flooding the Supply of Workers in America with illegal Aliens - and they Promised us that we will receive better jobs to replace the ones they took away from us - that most of us would be paid much higher than ever before, that we would all become IT technicians and Robotics Experts pushing buttons to do the work we used to do manually, and that we would all prosper and be thankful to the Republicans for implementing all that change.

I for one have faith and believe them still - it is just a matter of time and we will someday be able to make a better living with great ease just like the Republicans told us would be the case after allowing them to ship our jobs overseas, flood the supply of workers in the USA with millions of illegal aliens, destroy Labor Unions and so on.

One more thing that we MUST allow the Republicans to do - Give them their Greatest Desire and heartfelt wish to Strip Anyone who is currently 55 years old or under of their Social Security Checks - then and ONLY then will the Republican Dream be achieved - we shall then All Be Happy as Americans - the Republicans Assured us of this.

January 03 2014 at 12:39 PM Report abuse +2 rate up rate down Reply
1 reply to JesusPresley's comment
usapaydirt

Jesus Presley, It was Bill Clinton who signed NAFTA and started the ball rolling toward American labor's demise. Eventually you'll realize this is a non partisan issue, it's a Corporate money grab through exploitation of cheap labor in emerging third world markets. These products are then dumped in the US killing off jobs, and with the US Governments OK.....

The only thing that can turn it around, is a widespread boycott of all imported goods manufactured by cheap exploited labor, as well as limiting purchases of goods manufactured at fully automated facilities, which take but don't pay forward.

If either Party had the slightest interest in doing the right thing in protecting the welfare of it's citizens, it would have never led us here in the first place.......

January 03 2014 at 2:19 PM Report abuse rate up rate down Reply
ronfmiller

Also in Washington state the union leaders convinced the Woodworkers of America members to vote to stop cutting trees down. That just tells me that the union leaders really only want to bring the country down or gain favor with leftist politicians in the pockets of the environmentalists. They are clearly no trying to help their members.

January 03 2014 at 11:10 AM Report abuse -2 rate up rate down Reply
pfjw

Facebook & Profits. Hmmm.

Did you know that now Huffington Post requires anyone that posts has a 'Valid Facebook Account'? Either a profit motive or an incest motive, but neither possibility is pretty, and the result is certainly a reduced pool of commentors - hardly the way to broaden debate.

And with that in mind, I am perfectly ready to assign the worst possible motive for anything Facebook does, might or can do.

January 03 2014 at 11:09 AM Report abuse +3 rate up rate down Reply