They waited until the day after the election to make the announcement — what a happy coincidence for Obama:

Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.

Boeing, the Pentagon’s second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company’s costs by $2.2 billion since 2010, according to the memo.

The measures come as U.S. weapons makers are under pressure to cut costs and preserve profit margins amid dwindling defense spending in the U.S.

And if they’re cited for violating the WARN Act, who cares? You and I will pay the fine.

In the previous post I mentioned how Obama had created a “win-win” for rich people who pledged their support, and here’s People’s Exhibit A of what will be thousands of examples in the coming months and years.

(h/t Michelle)

Comments

47 Responses to “It Starts: Boeing Announces Big Layoffs”

  1. archer on November 8th, 2012 1:15 pm

    It couldn’t happen to a more deserving state.

    BA-DA-BING!!

    Stop whining, you just voted for it.

    Packing up and heading for Michigan.

  2. archer on November 8th, 2012 1:21 pm

    Zero is putting America into a pre-WWII economic environment where nothing less than another major war will create a new and prosperous economy.

  3. backwoodsconsr on November 8th, 2012 1:36 pm

    WWII ended the Great Depression by diverting FDR's attentiion away from meddling with the economy. When the war was over, Roosevelt was dead and businesses believed (correctly) that his successor was less hostile to business than FDR had been, and prosperity ensued.

    FDR was just as lousy an economist as Obama, but at least he was a great wartime president. I would not want to have BO as C.inC. during a major conflict.

  4. Truesoldier__ on November 8th, 2012 2:06 pm

    I heare you. This is why my wife and I have decided we are leaving the PNW. We are in the process of looking at new jobs and so far I have had some interest coming from both SC and Texas. If either of these locations offer the job, we are taking it and going.

  5. Truesoldier__ on November 8th, 2012 2:08 pm

    There was also another big difference. During WWII the other major industrialized nations had seen their manufacturing centers decimated by war (GB and Germany in particular). This lead to the US being about the only country that still had the ability to mass produce manufacturing as we were outside the war zone.

  6. Truesoldier__ on November 8th, 2012 2:10 pm

    And a company in Vegas has cut 22 of their 114 personal on payroll as a direct result of the election.
    http://lasvegas.cbslocal.com/2012/11/07/vegas-emp

  7. Truesoldier__ on November 8th, 2012 2:16 pm

    I just wonder how many people out their are going to be shocked when they get hit with the Obamacare tax? I am not just talking about the one who don't purchase insurance either. With the way Obamacare is set up, everyone has the potential of being hit with the tax in on shape or another.

    Remeber, the law reads that you must purchase a qualified plan to be in compliance. The law also states that plans that are deemed by DHHS to be "Cadilliac" plans will have to pay a tax on those plans. So there is nothing stopping the Obama administration from ensuring that the only qualified plans are the "Cadilliac" plans; threrefore you get taxed whether or not you have coverage or not.

  8. JetHeadJoe on November 8th, 2012 2:28 pm

    True that, Truesoldier…nothing wakes up the sleepy like the sting of a surprise slap upside the head. Unfortunately, those of us who are awake and are paying attention can't avoid this, either. At least we won't be dumb enough to say "Thank you sir! May I please have another?"

  9. backwoodsconsr on November 8th, 2012 2:37 pm

    You mean we might see you in my neck of the woods? My totally unbiased opinion (fingers crossed behind my back) is that SC is a beautiful state and a great place to live.

  10. SignPainterGuy on November 8th, 2012 2:52 pm

    North Western SC and some of the coast, anyway !

  11. Marshall_Will on November 8th, 2012 2:56 pm

    One of the core pillars of the Progressive "there's no such thing as "American Exceptionalism" argument!

    We were never really that 'good' to begin with and post-war were able to exploit the lack of organized mfr. base. This is why we found the 50's such a "golden era" blah blah…

  12. Marshall_Will on November 8th, 2012 3:03 pm

    "Unfortunately, those of us who are awake and are paying attention can't avoid this, either."

    And you'd think after back-to-back Bubbles ( Tech then Housing ) people wouldn't need a reminder? My 3 biggest stock positions going into 1999 were Coke, John Deere and Heinz Foods! Didn't MATTER. We SOLD our home in 2004 and RENTED but wound up circling the drain along w/ everybody else?

    Now this…………

  13. Marshall_Will on November 8th, 2012 3:10 pm

    TS,

    My local GOP PCP is utterly decimated here in OR. Spoke w/ the wife and she can't get him to the phone. They're not getting any younger and [inclusive of our weather] this can not be a healthy living situation.

    Reading your previous posts re: WA's outcome, I'm equally devastated. So now the state legislature wants to SUE "The People" for forcing them to live within their means!? OR surely will/would follow.

  14. Truesoldier__ on November 8th, 2012 3:17 pm

    Charelston area to be exact. And I concur. SC is a beautiful state and I enjoyed the time I spent there from Nov 99 to April of 2000 while I was doing somre reclassification training at Ft Jackson.

  15. Truesoldier__ on November 8th, 2012 3:25 pm

    Without a doubt. The Californication of the PNW is going on full steam ahead.

  16. Truesoldier__ on November 8th, 2012 3:33 pm

    O/T…I wonder how the people in NY still dealing with Sandy (and now snow) feel about Obama's response to Sandy now?

    BAD SIGN: FEMA office on Staten Island closes 'due to weather'
    http://www.nypost.com/p/news/local/staten_island/

  17. Marshall_Will on November 8th, 2012 4:13 pm

    TS,

    I co-ran the Portland Housing Blog for years. By its very nature, many of our ( dozens of readers ) were either recent transplants or from other parts of the country, contemplating a move to PDX.

    Lots of teachers, nurses and tech types. Finally figured the reason we could never get over a few K hits a month was younger tech-savvy people found us, investigated Portland, or BUYING in Portland, decided it was an overpriced Progressive HELL HOLE and had gotten all the information they ever needed!

  18. Truesoldier__ on November 8th, 2012 4:19 pm

    Makes sense. I know when we lived down in the PDX area we lived out on the eastside (Troutdale area) just to find a place we could afford to have a roof over our head and still put food on the table.

  19. Marshall_Will on November 8th, 2012 4:19 pm

    Not that Cali 'isn't' a factor, what we found is legions of prog-wannabes dotted from all over the Midwest that saw Portland ( and I suppose by extension SEA ) to be some sort of OWS/Mook "mecca".

    Here's the (1) bright spot: Most came without much money and ZERO marketable skills! So just as 30k youngsters flock to L.A each month looking to make it in Hollywood etc., they're here for as long as it takes for the money to run out and wind up hitching BACK.

    So it's a constant turnover. Sadly they're highly political and readily embraced by locals, as long as they keep that prog majority flowing!

  20. Marshall_Will on November 8th, 2012 4:25 pm

    Meet!: The Angry Independent..!

    They flip flop and as MM describes, are taken wherever their moooderate 'beliefs' take them! One September it's to finish college, the next it's Burning Man. Backpacking in the Outback, working for dad's firm!

    But that shouldn't matter right? This is America damnit' and success is something they have running hot & cold so you should be able to tap into it whenever it SUITS you right?

    Yep, never a shortage of critical mass that wants to believe THAT huh?

  21. Marshall_Will on November 8th, 2012 4:51 pm

    We studied the OFHEO Housing Affordability charts until our EYES bled! What we found was the deviation from the mean began in the late 80's. After years of "being the most affordable market on the West Coast" we began to ramp up, and never looked back.

    Good paying jobs in the PNW don't grow on trees and when housing reached 5 X avg. annual income, we collapsed. Only techies, medical professionals and trust fund babies can afford to live "close in".

  22. Granny55 on November 8th, 2012 4:52 pm

    Was listening to Frank Beckman this morning and he asked people to call in and tell him how Obamacare was affecting them.

    #1: Union guy – just got their letter that effective 1/13 their health care plan has been substantially reduced, higher deductibles and reduced amt for health care savings acct.

    #2: Recent retiree just received a letter from her gynocologist that they are no long accepting Medicare patients as of 1/13. Drs. can't operate their practice at a loss.

    #3: Wife of caller just got a letter from employer that all employees are being cut to 3 day/8 hr/day work week because of healthcare. Her income provided them with the extra money for eating out, vacations, etc. But there are 6 employees at the place who depend on the full time pay check to live week to week.

    #4: Businessman is in the process of purchasing a company that employs 64 people. In order to make a profit to the pay bills and grow the business he is going to have to cut the work force to under 50 to comply with health care rules. These are all productive long term employees. Dilemma???? The purchase was almost complete when he learned what the h/c bill was going to cost him. Too late to back out.

    And on and on they called in. This is going to be a nightmare. I am already experiencing it. We have a high deductible plan, mine is $2500. Because I was recently divorced – the loss of the additional income – I cannot afford to get my yearly blood work. It is $400 – that is a take home check for me. I do not qualify for the free mamograms because I am employed and have insurance.

    Also, it is my understanding that if your employer pays your health insurance it is going to be reported on your W-2 and we will be taxed on it.

  23. backwoodsconsr on November 8th, 2012 7:53 pm

    Charleston would put you about as far away from me as you can get. I live a few miles from Greenville. I'm much closer to the mountains than the ocean, and I like it that way. The mountains are much more interesting.

  24. SignPainterGuy on November 8th, 2012 8:37 pm

    Cooler too. SC can be HOT !

  25. Truesoldier__ on November 8th, 2012 8:37 pm

    Even worse than that. A few years back one of our local hosts (he's in Vegas now) got hold of a flyer from a midwest state. The flyer was letting homeless people know about all the bennies that the city of Seattle would provide them. It also became known that those in prison were requesting transfers to WA ST as their chances for early release were far greater than out in the midwest.

  26. Truesoldier__ on November 8th, 2012 8:39 pm

    Couldn't agree with you more. The mountains out there are just breath takingly beautiful. But I figure if the job is willing to pay my relocation expenses I will not complain.

  27. Truesoldier__ on November 8th, 2012 8:42 pm

    "it is my understanding that if your employer pays your health insurance it is going to be reported on your W-2 and we will be taxed on it. "

    I seem to remember something about that as well. Of course that may not end up mattering in the long run as most employers are going to see it is cheaper to pay the tax, fine, penalty or whaterver they want to call it than it will to pay the higher premiums.

  28. Truesoldier__ on November 8th, 2012 8:49 pm

    O/T…Google and Facebook execs vying for position as head of Treasury:

    White House Chief of Staff Jack Lew is the favorite to replace Treasury Secretary Tim Geithner, but Obama aide Pete Rouse is looking for “a Fortune 500 CEO” to work under the president who embraced Occupy Wall Street.

    http://washingtonexaminer.com/report-google-and-f

  29. backwoodsconsr on November 8th, 2012 8:55 pm

    Maybe you could come up to the mountains and join SPG and I for a hike sometime.

  30. SignPainterGuy on November 8th, 2012 9:05 pm

    Yes indeed ! bwc and I would like very much to get together with you some time !

  31. SignPainterGuy on November 8th, 2012 9:13 pm

    Wait a minute; a Fortune 500 CEO who is an anti-corporate OWSer type ? That would be the poster child for "oxy-moronic" !

    OH, we ARE talking the °O° Admin. Cabinet, aren`t we ? If you are qualified for the position, the °O° Admin. has no position for you !

  32. SignPainterGuy on November 8th, 2012 9:31 pm

    Where`s Jeffy on this; he`s our resident Boeing employee !? I`ve been looking for his in-put all day !

  33. Marshall_Will on November 8th, 2012 9:54 pm

    You know, I never really had issue w/ that! In fact it's long been MY position that we should have capped the MID ( Mortgage Interest Deduction ) long ago.

    If you have [zero] children and want to live in 3,500 s/f, HEY, that's 'your' choice. Don't look for me to subsidize your DINK ( Double Income No Kids ) lifestyle?

    For me, that somewhat applied to HC premiums. That way, those w/ "cadillac" plans might reconsider if they need that dental/optical/shrink coverage and we could get REAL. As is, it became part of the problem. But to revoke it NOW comes under Cruel & Unusual.

  34. Marshall_Will on November 8th, 2012 9:58 pm

    Part II

    Leaving the MID unmolested was a big part of the reason electoral power gravitated toward Blue City. It's not at ALL uncommon for some Bay Area tech employees to have $5k, $8k, $10k a mo. mortgages.

    But don't you worry none! You can just deduct it off your AGI and bahzing! It's hard for some TX tech firm to compete w/ that lifestyle. Hope that makes sense..?

  35. Truesoldier__ on November 8th, 2012 9:58 pm

    Its all about the "optics" not the qualifications…..

  36. Truesoldier__ on November 8th, 2012 10:04 pm

    Makes perfect sense. It would seem that a cap on MID would be a much better way of doing things.Without a cap it gets abused. Sort of like if you dont have a cap on welfare and allow it to go up with the more kids you have, you get lareger and larger welfare families.

  37. Truesoldier__ on November 8th, 2012 10:07 pm

    And yet another O/T…

    Iranians jets fired on US Drone in international airspace prior to the election, but declined to mention it.
    http://security.blogs.cnn.com/2012/11/08/first-on

  38. Truesoldier__ on November 8th, 2012 10:09 pm

    If I do come out that way you can count on it!

  39. Marshall_Will on November 8th, 2012 10:17 pm

    Oh Gawd that is a knee slapper!

    "And Google employees combined to form the third-highest source of campaign donations to the president."

    So let me get this straight.., these azzclownz paid big bucks to preside over the Treas. only to be blamed for when the "mortgage shuffle" from bank's bal. sheets to Fannie & Freddie "get bought" by the Federal Reserve and go kah-boom!

    What kind of 'influence' are they BUYING? Conservatives are ALREADY getting shafted by these two companies! How much more lopsided do they need to make this?

  40. Marshall_Will on November 8th, 2012 10:52 pm

    Put it down under: You GET what you SUBSIDIZE..!

    Don't get me wrong, this is still America and if you want to live in a pimped out crib.., more power! Just don't expect ME to subsidize it?

    When I worked for brokerage houses, the rank and file sales guys like me didn't get the same HC bennies the big wigs got. No class envy, lots of them started where I was. But to expect their share was deducted "pre-tax"? C'mon!?

  41. Truesoldier__ on November 9th, 2012 12:09 am

    Remember…the Ragin Canjun had said that when Obama won in 2008 it was the begining of a 40 year reign by the democrats. Even with the 2010 House victory we are seeing little comfort considering that Weepy became speaker and is showing his lack of backbone once again by telling Diane Sawyer that Obamacare is now the law of the land and comprehensive immigration reform is at the top of his to do list. With the GOP leadership rolling over like that the Dems dont need a majority in the House.

  42. Marshall_Will on November 9th, 2012 12:27 am

    I mean, is immigration 'reform' really even necessary? Dim's already lord over us w/ the slenderest of majority, do we really need another 5, 10 or 15 million flooding our schools, prisons and former employers?

    Carville can crow all he wants, he who gives being bald a bad name has been WRONG so many times it's surprising he still has a job?

    I think Boehner is serving up woof cookies. Firstly, even to this date, no one truly understands BamaCare let alone 'how' to implement it! I'm thinking it's an open invite to retract/rescind as much as possible. It's not like there wasn't TONS o' evidence just -today- it's poison for a wreckovery!

  43. jeffythequick on November 9th, 2012 2:00 am

    Regrettably, I can't comment on anything on the main story, due to ethics and non disclosure agreements I signed as an employee.

    I am not affected by this directly, but I do feel for those that are.

  44. jeffythequick on November 9th, 2012 2:03 am

    TS,

    If/when I come there to Charleston, I'll let you know via blog post here, or you can get a hold of me at jeffythequick dot com. I just got back from North Charleston, and the place is still as beautiful as I remember it.

  45. SignPainterGuy on November 9th, 2012 2:17 am

    What the co. is doing, buying, planning is certainly proprietary, so we wouldn`t ask you to talk about that ! I`m sure we are all pleased your job is secure for now !

  46. SignPainterGuy on November 9th, 2012 2:19 am

    You know how it is with nat`l security issues; you keep THIS nation from knowing about what`s happening, but enemy nations, ppfffffft, tell `em everything !

  47. Truesoldier__ on November 9th, 2012 12:06 pm

    That is unless it will help your re-election bid, then you leak like a sieve.

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