Boeing Company (BA)

[Jetmek_03052]

Strike over.

On Monday night, 33,000 Boeing workers, represented by the International Association of Machinists and Aerospace Workers (IAM) Districts 751 and W24, voted to ratify a new four-year labor contract with the US planemaker, effectively ending the 53-day labor action. This is a big relief for Boeing executives, who have protected the company's investment-grade credit rating at all costs during the labor action.

About 59% of IAM members voted in favor of the new labor deal, which includes a 43.65% compounded wage increase—38% before compounding—over the contract's four-year lifespan.