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00:00Blue-collar workers from Boeing walked picket lines instead of building airplanes on Friday
00:06as they demanded better pay.
00:08I'm glad that we passed that vote to strike because we are the leaders in the aerospace
00:16industry and I think that we deserve better.
00:20And so we're out here fighting for our families, we're fighting for decent pay because, you
00:26know, you got the Boeing heads who are making millions in bonuses.
00:31Workers overwhelmingly voted to strike for the first time in 16 years after Boeing offered
00:36them a pay raise of 25 percent instead of their originally requested 40 percent.
00:43Boeing's plan also eliminated an annual bonus, reducing the effect of its proposed pay increase.
00:49The company's chief financial officer warned the stoppage threatens to jeopardize Boeing's
00:55economic recovery if it drags out.
00:58The aerospace manufacturer is one of the largest employers in the Pacific Northwest and a crucial
01:03part of the American economy, causing the White House to get involved.
01:07Administration officials are indeed in touch with Boeing and the machinist and we believe
01:13that they need to negotiate, yes, in good faith and work towards an agreement that gives
01:18employees benefits and that they deserve.
01:21Shares of Boeing fell 3.7 percent Friday, bringing its yearly decline to nearly 40 percent.
01:29Days before the strike, Boeing had already announced a six-month delay in reaching its
01:33key production milestone for the 737 MAX, hampering efforts to generate enough cash
01:39flow to diminish its $60 billion of debt.