And The IAM Strike Drags On...

Well... so much for that. Boeing issued the following statement Monday night, after a second round of mediated talks with the International Association of Machinists and Aerospace Workers adjourned without an agreement:

"In light of the current business environment and global market challenges we face, we had hoped we could find a way to move forward. We worked very hard to find solutions, and we are extremely disappointed that the talks broke off," said Doug Kight, Boeing vice president of Human Resources. "We want to resolve this strike so employees can return to work, but we cannot sacrifice our ability to continuously improve productivity and our long-term competitiveness for an agreement. Given current economic conditions, it is now more important than ever that we retain the ability to respond to a dynamic, uncertain environment."

Boeing says no new talks are currently scheduled. Mark Blondin, chief negotiator for the IAM, told Bloomberg talks fell apart early.

"We agreed from the start that job security was the top issue and we needed to work to find common ground," Blondin said. "We were unable to do that, and the mediator saw that and ended the meeting... Boeing made it clear that they wanted vendors, subcontractors and suppliers to perform the work our members do and that our members weren't in their future plans.

"Flexibility and competitiveness is one thing, but when the company says that means it can eliminate jobs, this union can not agree with that," Blondin added.

Approximately 27,000 employees in Washington, Oregon and Kansas have been on strike since September 6. As a result of the labor walkout, Boeing's production lines have ground to a standstill, with no new commercial airliner deliveries possible.

The strike is costing Boeing approximately $100 million per day, according to industry analysts. Striking workers earn $150 per week from the union.

FMI: www.boeing.com, www.goiam.org