Boeing defense workers walk off the job
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 4 August 2025
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Thanks so much for joining us on this Monday, August 4th. I'm Julie Morgan. A Boeing walkout, Marvel Muscles in, and Brazil brews a new deal with China. |
| 0:20.3 | Boeing is beginning the week with a strike of some of its workers. |
| 0:23.7 | This is the first strike in nearly 30 years at its defense manufacturing facilities near St. Louis, Missouri, |
| 0:30.6 | after union members rejected a revised labor agreement. |
| 0:34.6 | Approximately 3,200 members of the International Association of Machinists and Aerospace |
| 0:40.1 | workers walked off the job just after midnight local time. On Sunday, they voted to reject a modified |
| 0:46.7 | four-year labor agreement with Boeing. The last strike at these plants occurred in 1996 and lasted 99 days. Boeing released a statement on its website saying |
| 0:57.7 | that they're disappointed the employees rejected an offer that featured 40% average wage growth |
| 1:03.9 | and resolved their primary issue on alternative work schedules. The statement went on to say that |
| 1:09.7 | they're prepared for a strike and have fully |
| 1:11.8 | implemented their contingency plan. I Am International President Brian Bryant said in part that |
| 1:18.2 | their members have every right to demand a contract worthy of their contributions. The work stoppage |
| 1:24.6 | threatens to add more strain to Boeing's defense and space division, |
| 1:29.0 | which accounts for about 36% of the company's overall revenue and is currently undergoing a major restructuring effort. |
| 1:36.5 | Employees at the affected sites assemble military aircraft such as the F-15 fighter jet and T7 trainer, |
| 1:43.4 | as well as missiles, munitions, and parts used in Boeing 777X commercial airliners. |
| 1:51.0 | China has authorized 183 new Brazilian coffee companies to export to the Chinese market, and the measure is valid for five years. |
| 2:00.1 | China also approved 30 more Brazilian companies to |
| 2:03.3 | export sesame to the Chinese market, also effective from July 30th, and the measure is valid for four |
| 2:10.0 | years. The announcement comes as President Trump imposed a 50% tariff rate on certain Brazilian |
| 2:16.5 | goods, including coffee, starting later this week. |
... |
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