Boeing has asked more than a dozen states for proposals for building its new 777X jetliner. Here are the number of people Boeing employs in states where it has a significant presence, or that are known ...
NEW YORK/CHARLESTON, South Carolina (Reuters) - South Carolina will clinch a long-awaited land sale next week that should help Boeing Co (BA) expand aircraft production. Perhaps more importantly, the $13.8 million deal may help South Carolina win assembly work for Boeing's next big jet. The acreage near Boeing's assembly line in North Charleston is just one of a tantalizing collection of goodies that states across the country are dangling to try to lure the lucrative new jet program, known as the 777X, that promises thousands of jobs and billions of dollars in economic benefit to the winning state. Boeing has requested proposals for the jetliner program from more than a dozen states after the unionized machinists in Washington state last month roundly rejected a labor contract that would have guaranteed the plane was built there.
From coast to coast, states are rushing to impress Boeing with lavish incentive packages that offer property, labour deals and billions of dollars in tax breaks. The competition underscores Boeing's commanding bargaining position in an economy where top-notch manufacturing jobs remain scarce and elected officials feel obligated to pursue every growth opportunity, no matter how improbable. "We have gotten a tremendous response, and it's obviously created a lot of interest and a lot of excitement," Boeing spokesman Doug Alder said. The contest has unfolded in a mere matter of weeks after a machinists' union in Washington state rejected Boeing's proposed contract for the 777X because it would have replaced their traditional pension with a defined-contribution savings plan.
The battle over the Pentagon’s most expensive jet fighter is going juvenile after a small Canadian company created a 45-second video that reduces the debate over the F-35 to a playground feud. WSJ's Dion ...
Boeing stock has been surging higher but is now pulling back from highs.
Boeing Co (BA) plans to spend as much as $10 billion on a factory for its new 777X jetliner, and wants to put the plant near a large airport with good rail and road access, according to a newspaper report. The details come from an 11-page request for proposals recently issued by Boeing, a copy of which was obtained by the St. Louis Post-Dispatch, the newspaper reported on Thursday. Boeing declined to comment. The document, stamped "proprietary," says Boeing wants to start construction next November, and begin production of the new jet in July 2016, the paper said.
Boeing Co plans to spend as much as $10 billion on a factory for its new 777X jetliner, and wants to put the plant near a large airport with good rail and road access, according to a newspaper report. The details come from an 11-page request for proposals recently issued by Boeing, a copy of which was obtained by the St. Louis Post-Dispatch, the newspaper reported on Thursday. Boeing declined to comment. The company expects to receive bids back from interested states next week and make a site decision early next year, spokesman Doug Alder said.
Cramer is not as concerned about tomorrow's labor report as others.
Two industrial juggernauts are making headlines today, as states fight for Boeing's 777X production and Ford finally shows off its newly designed iconic muscle car, the Mustang.
More good news: Buyers submit no cancellations over the holiday week.
Shares of tech giants Microsoft and Electronic Arts are plunging on Thursday, as SolarCity shares rally sharply.
The Dow component that led the way higher today was Boeing (NYSE:BA), which sported a $1.23 gain (+0.9%) bringing the stock to $132.73. Holding the Dow back today was Goldman Sachs Group (NYSE:GS), which lagged the broader Dow index with a $3.14 decline (-1.9%) bringing the stock to $165.56.
Alliant Techsystems Inc. announced that Orbital Sciences installed the Planar Unfolding Modular Array solar arrays to Orbital's SES-8 satellite.