Boeing Company Description

The Boeing Company (BA), based out of Chicago, Illinois falls under the Aerospace and Defense industry. The company’s market cap is worth $97 billion, and it is the largest manufacturer of commercial and military airplanes and flight systems. The company has two main segments: Commercial Airplanes, and Defense, Space & Security. Boeing reported sales of $82 billion for FY12. Commercial business accounted for 69% of revenues, having grown at a five-year Compound Annual Growth Rate (CAGR) of 11.7%. The company generated 46% of its revenues in the US, with Latin America and Middle East following at 13% each. Read More: BA

The Boeing Company : Washington State Clears $8.7 Billion Package for Boeing

The Washington State legislature completed passage of key elements of an incentive package Saturday aimed at guaranteeing that Boeing Co. will locate manufacturing work for its 777X jetliner in Puget Sound.

The roughly $8.7 billion package of extended tax breaks, education and workforce support and permit streamlining was passed less than a week after Democratic Governor Jay Inslee on Tuesday called for a special legislative session to swiftly approve the package. The incentives, along with a pending contract for Boeing's largest union, are seen as crucial to Washington State's selection for the work.

"This is a great day for everyone in Washington," Mr. Inslee said in a statement. "Winning the 777X will secure tens of thousands of jobs and yield huge economic benefits for generations to come. And it will bolster our state's legacy as the aerospace capital of the world." Read  more.

Machinist president criticizes Boeing Co. offer

On a day Gov. Jay Inslee testified in favor of a tax-incentives bill aimed at keeping Boeing Co.'s next-generation 777X jet manufacturing in Washington, the Machinists union may have thrown state lawmakers a late-breaking curve.

  

The Seattle Times reported late Thursday evening that Machinists District 751 president Tom Wroblewski tore up a copy of a Boeing contract offer after a raucus union meeting to discuss the contract. Read more.

Boeing says options open as workers protest 777X offer

Boeing said on Friday that all production options were open after a union leader was quoted as dismissing a proposed labor agreement to build its new 777X jet in the Seattle area. The Seattle Times reported that the senior local union official tore up a copy of Boeing's contract proposal in front of disgruntled union members at a meeting near Seattle and said he would recommend it should be not be put to a vote.

The 777X program would secure thousands of jobs in the Seattle area, which is competing with non-unionized workers in southern U.S. states where wages are lower. "All of our options are still on the table, including those within Boeing and interest we have received from outside," a Boeing spokesman said in an emailed statement. Read more.

Washington State and Labor Unions Win Back Boeing

The 777X which boasts the largest engines ever put on a plane and key cost-saving technologies that could change trends in modern aircraft design is considered pivotal to Boeing’s (NYSE:BA) future profitability.

The new version of the popular long-haul get, due for delivery in 2020, will likely be the last major new jet constructed by Boeing for a number of years, and it is a crucial component in the company’s fight against Airbus for dominance in the long-range twin-engine market. Boeing’s 777X is important for other reasons, as well: Given the size of the program, the plane’s construction has a huge ripple effect for the state where the production line is located and for the laborers who build the plane. Read more.