Connect with us

Seattle, WA

Boeing says it may raise $25 billion as Seattle strike bites – DW – 10/16/2024

Published

on

Boeing says it may raise  billion as Seattle strike bites – DW – 10/16/2024


Boeing indicated on Tuesday that it could raise up to $25 billion (€23 billion) including by issuing and selling new shares to aid its ailing balance sheet after years of heavy losses, while factory workers of the US planemaker continue to strike, demanding a better salary.

Boeing said in back-to-back regulatory filings that it could raise the funds over the next three years and enter into a fresh agreement with lenders.

Years in the making

The planemaker hasn’t made an annual profit since 2018, losing more than $25 billion in total over the years that have followed.

Advertisement

Boeing’s reputation has been severely hit over that period which has seen two 737 Max jets crashing, killing 346 people.

Boeing 737 Max incident could have been ‘much more tragic’

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

Finances for the planemaker are currently under even more strain as a strike by workers who build most of its airline jets goes into its second month. The industrial action has deepened Boeing’s cashflow issues, slowing production and delivery.

Factory workers held a large rally in Seattle on Tuesday to demand better wages, adding pressure on new CEO Kelly Ortberg to end the dispute.

Hundreds of workers were in the main hall at union headquarters chanting “Pension! Pension! Pension!” and “One day longer, one day stronger!”

Advertisement

Boeing is cutting around 10% of its workforce — or 17,000 people — “over the coming months,” and postponing the launch of its first 777X jetliner. But factory workers in Seattle remained undeterred on Tuesday, as they continued to fight for higher wages and improved pensions.

A sign saying "Pension" is held above the crowd during a rally by Boeing machinists, labor allies and elected officials in Seattle at their union hall
Improved pensions was on the agenda of Boeing machinists, labor allies and elected officials in Seattle at their union hallImage: Manuel Valdes/AP/picture alliance

Around 33,000 West Coast workers, most in Washington state, have been on strike since September 13, calling for a 40% salary increase spread over four years.

The strike has halted production of Boeing’s best-selling 737 MAX and its 767 and 777 twin-aisle aircraft. The company is typically paid on delivery with its orders from airlines, hence the additional short-term cashflow strain.

Boeing made an offer to raise hourly wages for striking workers by 30% but union negotiators rejected it, saying it “did not go far enough” to address concerns, and that the planemaker “has missed the mark with this proposal.”

Now entering its second month, the strike has no end in sight and has only added to the company’s litany of problems.

As a result of the action, Boeing has said it is pushing back first delivery of the 777X to 2026 from 2025. The plane was originally supposed to enter service in January 2020.

Advertisement
Union leaders at a rally in Seattle to demand better working conditions
Union leaders attended a rally in Seattle as the strike entered its second monthImage: Manuel Valdes/AP/picture alliance

Share price boosted

But the company’s stated contingency plans did improve investor sentiment slightly on Tuesday, as shares of The Boeing Co roseby 2% in afternoon trading.

Boeing’s securities filings indicated that it has the ability to raise funds by offering stocks or debt over the next three years if needed, but also did not commit it to doing anything.

The planemaker said that it entered into a $10 billion supplemental credit agreement with several leading banks to provide short-term liquidity.

American credit assessment agency Fitch Ratings said the announcements increase Boeing’s financial flexibility and ease short-term liquidity fears. Management’s ability to tap capital sources other than debt “will help alleviate downgrade risks” by improving the likelihood of paying off debt that matures in 2025 and 2026, Fitch said.

The news comes as a welcome boost after credit rating agency Standard & Poor’s said last week it was considering cutting Boeing’s credit rating.

Boeing’s troubled Starliner spacecraft returns without crew

To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

Advertisement

jsi/msh (AP, AFP, Reuters)



Source link

Seattle, WA

How Seattle Seahawks could be gifted NFC top seed week early

Published

on

How Seattle Seahawks could be gifted NFC top seed week early


With the Seattle Seahawks all alone in first place in the NFC West and atop the NFC standings, all eyes have understandably been fixed upon their Week 18 regular season finale against the San Francisco 49ers as the likely place where the division and No. 1 seed will be settled.

Where Seahawks’ No. 1 seed odds stand after Week 16

But there is a highly unlikely but still possible scenario that has gone under the radar where Seattle (12-3) could find itself on Monday already crowned the division champ and given a bye straight to the second round of the playoffs.

It’s a pretty simple one, though it has three components to it. Here’s what would need to happen for the Seahawks to clinch the NFC West and NFC’s No. 1 seed before Week 18:

Advertisement

• 1. The Seahawks win on the road in their 10 a.m. Sunday game against the Carolina Panthers.

• 2. The San Francisco 49ers and Chicago Bears tie on Sunday night.

• 3. The Los Angeles Rams lose on Monday night in Atlanta against the Falcons.

To take a line from the great Lloyd Christmas on the holiday that he shares a name with, we’re telling you there’s a chance. Not a good one, at least when it comes to wrapping everything up this week, but still a chance.

The tough part of this scenario is that both No. 2 and No. 3 are longshots.

Advertisement

NFL standings

Ties are rare in the NFL, with only one having occurred in the last three seasons combined. The Bears and 49ers are evenly matched with identical 11-4 records, though, which plays into why the Seahawks would need the tie to clinch before Week 18.

As for the Rams losing to the Falcons, that seems maybe even more far fetched than a tie happening. The Rams are also 11-4 and will probably be looking to take out some aggression after losing 38-37 in overtime to the Seahawks last week in the biggest game of the season for both teams.

While the Falcons are coming off surprising back-to-back wins, that’s a surprise for a reason. Atlanta is 6-9 this year and is down several players on injured reserve, including starting quarterback Michael Penix Jr.

So yeah, don’t count on it happening. But if the Seahawks find the unexpected gift of clinching by Monday night, it probably starts building a case of them being a team of destiny this season.

Advertisement

More on the Seattle Seahawks

• Schlereth believes Seahawks have two strong candidates for big awards
• Panthers CB has choice words about his trade from Seahawks
• Seahawks star WR JSN says any limitation put on him ‘is not true’
• Lefko: A bold offseason has Seahawks on brink of history
• Six Seattle Seahawks secure Pro Bowl selections






Source link

Continue Reading

Seattle, WA

Week 17 Injury Report: Seahawks at Panthers

Published

on

Week 17 Injury Report: Seahawks at Panthers


Wednesday’s Injury Report

Having kicked off their week of practice a day early, the Seahawks held what would usually be their Thursday work on Wednesday, a schedule shift that will allow the team to take Christmas day off before returning to practice on Friday.

The Seahawks had two players held out of Wednesday’s work due to injury, safety Coby Bryant, who left Thursday’s win over the Rams with a knee injury, and left tackle Charles Cross, who missed that game due to a hamstring injury suffered the previous week.

Seahawks coach Mike Macdonald said he did not have a timetable on either player, but did say that they are not expected to land on injured reserve, meaning they should be back at some point.

Advertisement

Cornerback Riq Woolen, who came out of last week’s game with a knee injury, was not on the injury report, a sign that he is OK.

For the Panthers, only two players did not practice due to injury, linebacker Trevin Wallace (shoulder) and defensive tackle Tershawn Wharton (hamstring), while guard Robert Hunt was limited by a biceps injury.



Source link

Continue Reading

Seattle, WA

At age 94, Seattle’s oldest bartender announces ‘last call’

Published

on

At age 94, Seattle’s oldest bartender announces ‘last call’


Driving down Lake City Way, there’s a warm light in the distance — a beacon calling you to a bar room full of beers and bands. The soft, yellow light that’s been glowing decades is the sign for the Shanty Tavern, though it’s known by another name to its owner.

“She is called Miss Shanty,” John Spaccarotelli tells KUOW. He’s owned the place and poured drinks for “umpteen years.”

Advertisement
Enlarge Icon

More precisely, John Spaccarotelli has spent 64 years at this spot on the edge of the road in Lake City, running what’s referred to as the “last roadhouse” in Seattle.

This style of a neighborhood bar, equipped with a dance floor, used to be more common decades ago. John Spaccarotelli’s patrons and family see it as a vanishing piece of Seattle culture.

“There’s just something special about this place,” says Lisa Casal, who comes in for music regularly and enjoys a front row seat at the bar. “These places are disappearing — and it’s sad.”

For the last few years, John Spaccarotelli has only been opening the Shanty Tavern on Friday nights for beer and live music. His three daughters and his grandkids are here to help him out through the busy closing night.

Many of the business’s regulars live in Lake City and walk to the bar from their homes. Now they’re figuring what they’ll do with their Friday nights once the tavern’s doors close.

Advertisement


caption: Ron W. Bailey smiles and laughs with John Spaccarotelli, 94-year-old owner and bartender, on the last night of business for the Shanty Tavern on Friday, December 19, 2025, in Lake City.

Enlarge Icon

One regular, Eric Beam, has a “reserved” barstool at the far end of the bar, where he can always be found reading a thick book.

“I come here at the end of the week, sit here, and talk stories with John,” Beam says. “And I leave with a big smile on my face, feeling better. I’m really going to miss that.”

John Spaccarotelli doesn’t plan to sell the land or building, but the 94-year-old said retirement is calling.

“I’m just going to take it easy for a while,” he says.

Advertisement


caption: John Spaccarotelli, 94-year-old owner and bartender at what many call the ‘last roadhouse in Seattle,’ shakes hands with a customer on Friday, December 19, 2025, during the last night of business at the Shanty Tavern in Lake City. Spaccarotelli has spent 64 years at this spot on the edge of the road in Lake City. This style of a neighborhood bar, equipped with a dance floor, used to be more common decades ago. John Spaccarotelli's patrons and family see it as a vanishing piece of Seattle culture.

Enlarge Icon

The Shanty Tavern has been home to longtime regulars like Michael Wansley, better known around here as Wanz, who’s been coming since the 1990s.

“[I] come down here every Friday with a whole bunch of the neighborhood cats,” he says. “We hang out here, play pool, drink beer.”

On its last Friday night open, the Shanty Tavern is much busier than usual, Wansley says, because this is one of the last nights The Shanty Tavern is pouring beers.

People have come to pay their respects and give one last toast.

Advertisement

“I would toast the fact that the beer is always cold, the jokes are almost always dirty, and the asses are always smart,” Wansley says with a raised glass.

In the low, crowded barroom, the Rat City Brass Band wails in one corner. The dance floor is so packed, the floorboards bounce up and down.


caption: The Shanty Tavern is packed on Friday, December 19, 2025, in Lake City, with a line out the door during the last night of business for what many call the 'last roadhouse in Seattle.'

Enlarge Icon

John Noe books the bands here. And since the place is so busy on closing night, he’s helping pick up empty bottles, too.

“Twelve years doing this, so it’s the end of an era,” Noe says. “Kind of bittersweet tonight. You know, they’ve become a part of my family.”

It’s an emotional night for the entire Spaccarotelli family. John Spaccarotelli’s daughter, Dayna, has been working with him here for the past 18 years.

Advertisement

“Lot of tears will come later, [I’m] trying to hold it together right now,” Dayna Spaccarotelli says. “My whole life has been here.”

She grew up here with her two sisters. The three used to come in to “help” their dad.

“We’d dance to the jukebox. We’d play shuffleboard and pool. We’d throw darts,” Dayna Spaccarotelli says.

Advertisement


caption: John Spaccarotelli, 94-year-old owner and bartender at what many call the ‘last roadhouse in Seattle,’ tends bar on Friday, December 19, 2025, at the Shanty Tavern in Lake City.

Enlarge Icon

A lot of old regulars made the trip on Friday to say goodbye to the Spaccarotellis. The hardest part, Dayna Spaccarotelli says, is seeing all these old faces and sharing memories.

“I just keep telling myself to just get through tonight. Just get through tonight. It’ll be okay,” Dayna says. “It’s not going to be okay.”

John Spaccarotelli says he plans to spend more time with his family after his retirement. He also wants more time to do what he loves: dancing. He even met a potential new dance partner at the bar’s last call.

“She says she likes to dance,” he said. “Ao I’ll find out if she likes to dance that much with me.”

By around 1:15 a.m., the Shanty Tavern crowd has slimmed down, but the bar’s regulars, who don’t want the place to close yet, have stuck around.

Fulvio Longo, who has a favorite corner barstool, brought in some champagne and is singing goodbye songs with John Spaccarotelli.

Advertisement


caption: Pat Anderson hugs John Spaccarotelli, 94-year-old owner and bartender at what many call the ‘last roadhouse in Seattle,’ on Friday, December 19, 2025, at the Shanty Tavern in Lake City.

Enlarge Icon

Then comes the moment everyone’s been dreading:

“Last call! Last call!” John Spaccarotelli shouts out above the noise. “That’s it, everybody. Last call.”

John Spaccarotelli insists this isn’t goodbye, though.

He says he’ll host one more open house in January and then maybe rent the place out.

But no matter what, the glowing sign isn’t coming down, he says.

Advertisement

“Thank you for the good times with the people that I’ve met,” he says. “And hopefully I’ll meet someone on the street saying, ‘Hi, John.’”



Source link

Advertisement
Continue Reading

Trending