Boeing CEO buys $4.1M home amid factory worker strike

In a striking move, Boeing's new CEO Kelly Ortberg has purchased a $4. 1 million residence in Seattle, aligning with the company's current labor unrest. The purchase comes as 33,000 machinists have gone on strike after overwhelmingly rejecting a proposed contract that would have raised their wages by 25% over four years. This action by the workers has led them to walk picket lines instead of their usual tasks of building airplanes. While airline operations are not expected to be disrupted in the short term, the strike poses a significant threat to the production of Boeing's most popular jetliners.

The company is already grappling with financial difficulties and a damaged reputation, making the strike a particularly challenging situation. Boeing has announced its intention to conserve cash while seeking a resolution that will be acceptable to its unionized workforce. The ongoing strike underscores the broader implications of labor relations within the aerospace industry. As the situation develops, it remains to be seen how Boeing will navigate these turbulent waters and what impact it will have on the company's future.