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Month: September 2024

Striking Boeing factory workers say they are ready to hold out for a better contract

Striking Boeing factory workers say they are ready to hold out for a better contract

By DAVID KOENIG, MANUEL VALDES and LINDSEY WASSON

SEATTLE (AP) — Blue-collar workers from Boeing walked picket lines in the Pacific Northwest instead of building airplanes on Friday after they overwhelmingly rejected a proposed contract that would have raised their wages by 25% over four years.

The strike by 33,000 machinists will not disrupt airline flights anytime soon, but it is expected to shut down production of Boeing’s best-selling jetliners, marking yet another setback for a company already dealing with billions of dollars in financial losses and a damaged reputation.

The company said it was taking steps to conserve cash while its CEO looks for ways to come up with a contract that the unionized factory workers will accept.

Boeing stock fell 3.7% Friday, bringing its decline for the year to nearly 40%.

The strike started soon after a regional branch of the International Association of Machinists and Aerospace Workers reported that in a Thursday vote, 94.6% of participating members rejected a contract offer that the union’s own bargaining committee had endorsed, and 96% voted to strike. read more

Volvo ditches vehicle subscriptions as alternative to leasing

Volvo ditches vehicle subscriptions as alternative to leasing

Volvo has deep-sixed a vehicle subscription program available in more than 40 U.S. states.

Care by Volvo, launched in 2017, bundled vehicle use, road hazard coverage, maintenance and other services into a monthly payment.

Volvo on Sept. 12 told Automotive News it had suspended the program “for the foreseeable future.”

“This allows for concentrated focus on our core customer offers and the coming introduction of new products, [and an] increase in operational efficiencies,” spokesperson Russell Datz said.

Datz declined to disclose the number of subscribers and said those enrolled in the program can finish their term, after which they would be eligible for a $1,000 credit toward a new Volvo purchase or $500 toward a lease.

Volvo also is getting out of the subscription business in Europe, the automaker told Automotive News Europe.

Driving conquest

Volvo pitched the subscription program as a tool to draw younger buyers into the luxury brand with a lower price point. More than 80 percent of subscription customers were new to the brand, the automaker said previously. read more

Trump plans to launch his sons’ crypto business on Monday, 50 days before Election Day

Trump plans to launch his sons’ crypto business on Monday, 50 days before Election Day

By JOSH BOAK

WASHINGTON (AP) — Former President Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company World Liberty Financial, a crypto platform controlled by the Republican nominee’s sons Donald Jr. and Eric.

His speech will come 50 days before Election Day, an extraordinary use of dwindling campaign time to promote a personal business. The Republican former president has long mixed his political and business interests and marketed sneakers, photo books and Trump-branded Bibles during his 2024 campaign.

“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said in a video posted Thursday to X, the social media site that will also host his address on the subject at 8 p.m. EDT on Monday from his Mar-a-Lago home.

As part of his presidential campaign, Trump has pledged to turn the United States into the “crypto capital of the planet,” raising red flags that he could use the federal government to help support a business tied to his family. read more

People on the move

People on the move

Health care

Stephanie Wohlford was appointed director of government affairs at Halifax Health, Daytona Beach.

Law

Todd Demetriades has joined Ball Janik LLP as special counsel in the firm’s Orlando office.

Property management

Jackie Impellitier was promoted to chief operating officer at ZRS Management, Orlando.

Other

Dani Moritz was appointed vice president of marketing and community relations at Boys & Girls Clubs of Central Florida.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.