Boeing, Machinists Reach Tentative Deal

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Boeing and its machinists union have reached a tentative four-year settlement to end a strike that has shut down the company's commercial airplane operations since early September.

STEVE INSKEEP, host:

We actually have a bit of good economic news for you this morning. The airline maker Boeing has had its plants shut down since workers went on strike in early September, but Boeing and its machinist union say they reached an agreement last night that should end the dispute. The main issues were job security and outsourcing. Tim Healy is Boeing's labor media spokesman.

Mr. TIM HEALY (Spokesman, Boeing): It achieves what the union wanted in terms of protecting jobs from outsourcing, and at the same time it allows Boeing to retain the flexibility we need to run our business. It rewards employees, but at the same time it allows us to maintain our competitiveness and sustain the success we've had.

INSKEEP: So that's the initial description of the deal. The union represents 27,000 workers. And analysts say that without them, Boeing has been losing an estimated $100 million in revenue every day.

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