why is setco automotive limited (setco) falling - Free Financial Group

Product Description

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Expert predictions on stock market movements with real-time data, ensuring you can make quick decisions and capture market opportunities.

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Expert predictions on stock market movements with real-time data, ensuring you can make quick decisions and capture market opportunities. Sunday marks one month since members of the International Association of Machinists began their strike against Boeing. The cost: nearly $5 billion, according to a new analysis by Anderson Economic Group, shared exclusively with 【 - Free Financial Group 】.

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Get precise stock market predictions and free access to real-time market data for efficient decision-making and portfolio growth. That multi-billion-dollar tab highlights the difficulties facing the aircraft maker, once a byword for American quality. Instead, it has faced a string of bad news in recent years,from fatal crashesto increased regulatory scrutinyto the strike by 33,000 workersthat started on September 13 that ground operations to a near halt.

Boeing’s workers and shareholders make up the bulk of the strike losses, at $3.7 billion, the newanalysis shows. Not a single plane has been worked on at the company’s production facility in Everett, Washington, since the IAM members walked off the job,triggering the first strike at the company in 16 years.

“Suppliers, Seattle-area businesses, and Boeing customers are paying part of the price,” said Patrick Anderson, CEO of Anderson Economic Group. “Our week-by-week estimates now include significantly larger losses to other businesses in the Seattle area, as well as losses to customers that rely on Boeing’s service and parts.”

Losses to Boeing’s suppliers total $900 million in the first four weeks, while non-Boeing Seattle workers impacted by the strike have seenlosses of $102 million. Boeing’s customers — the airlines — are also feeling the financial pain, with $285 million in losses to Boeing customers worldwide.

“The costs to Boeing and its shareholders are growing as the company burns through its cash and may need to borrow or issue stock to keep its operations going through the strike and what may be a difficult recovery,” said Anderson.

Boeing announced on Fridayit will be laying off 10% of its workforce— about 17,000 employees — over the next several months.

“Our business is in a difficult position, and it is hard to overstate the challenges we face together,” Kelly Ortberg, CEO of Boeing, said Friday in an email to employees.

Prior to Ortberg coming on as CEO in August, Boeingpleaded guilty to defrauding the FAA— after it failed to disclose a system upgrade to its 737 Max fleet which resulted in a design flaw — causing two 737 Max planes to crash, one each in 2018 and 2019. The plea deal with the Department of Justice resulted in fines to the company of nearly $1 billion.A judge is now reviewing the plea deal.

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Professional investment advice with real-time updates on stock indices and futures data. Stay ahead with expert predictions and market insights. Talks between Boeing and the striking IAM workersbroke off last week after two days of federally mediated negotiating. “Unfortunately, the union did not seriously consider our proposals,” Stephanie Pope, president and CEO of Boeing’s commercial airplane division, said Monday evening in a memo to employees. Pope called the union’s demands “non-negotiable.”

Despite the two sides being far apart on nearly every issue, John Holden, IAM president of District 751, told 【 - Free Financial Group 】 on Thursday there is a “deal to be had.”

“I don’t know what the end result’s going to be, but there’s a lot of things on the table,” Holden told 【 - Free Financial Group 】. “There are negotiations to be had and there is an agreement to be made, and you better spend the time at the table to reach it in order to resolve it.”

Holden says he is very confident in the strength of the strike fund — money paid out to members every week they are on strike — to support members as long as it takes to reach a “reasonable” deal. But he understands the impact this will have on the economy.

“It’ll impact the GDP for the year. It’ll impact the aerospace supply chain and production going forward. The longer this goes, the harder it is to restart production and get up to speed,” he said.

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Free break-even services and stock analysis to help you recover quickly from losses and increase your chances of making profitable investments. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Financial Group 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

why is setco automotive limited (setco) falling ✌️【Investment Tools】✌️ Free access to real-time stock indices, futures data, and market predictions to help you select high-return stocks and build a profitable portfolio.