Thursday, March 18, 2010

Boeing loses appeal over Oklahoma workers' retirement benefits

http://seattletimes.nwsource.com/html/businesstechnology/2011382802_boeing19.html



The Appeals Court affirmation of that outcome is scathingly worded, rejecting Boeing's legal arguments as "desperate."

The court said it recognized Boeing's desire to avoid paying lifetime benefits to early retirees and noted that similar collective bargaining commitments had helped drive General Motors and Chrysler into bankruptcy.

"But Boeing is stuck with the commitments," the court ruled. "It was not required to provide lifetime benefits to workers represented by the UAW, but it agreed to do so and must live with its decision."