Boeing strike costs set to soar if labor dispute drags on [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
Since Boeing workers represented by the International Association of Machinists and Aerospace Workers' Union (IAM) walked off the job last Friday, the workers and the company's shareholders have lost at least a combined $571 million, according to an analysis by Anderson Economic Group (AEG) – and the damages will only escalate as the strike drags on. Labor expert Jason Greer, founder of Greer Consulting, told FOX Business the strike will likely last another two to four weeks, but there are signs that it could extend beyond that timeframe. "The striking employees are of the mindset that Boeing will have no choice but to give in to their demands considering how much money Boeing has already lost, in addition to how much they stand to lose the longer the strike lasts," he said. BOEING BEGINS LAYOFFS AMID LABOR UNION STRIKE, CONTROVERSY OVER CEO'S HOME PURCHASE: ‘VERY DIFFICULT TIME' Greer said the prevailing question for Boeing is how long the company can withstand the strike.
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