Boeing, Striking Machinists Break Off Talks

Boeing(BA Quote) said talks have broken off with its striking machinists union.

"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 the aerospace company in a statement late Monday. "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."

Boeing said no new talks are scheduled. About 27,000 employees in Washington, Oregon and Kansas have been on strike since Sept. 6, leading to a halt in the assembly of jets. The talks between Boeing and the union which resumed Sunday were the first since the strike began. ...