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    Boeing Will Sell $19 Billion in Stock Amid Costly Strike

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    The aerospace company, locked in a standoff with striking workers, is seeking to shore up its balance sheet and avoid a credit rating downgrade.Boeing on Monday began to raise roughly $19 billion by selling stock, an attempt to shore up its finances as a costly and disruptive worker strike weighs on the plane maker’s balance sheet.The sale comes shortly after the aerospace giant reported a $6.1 billion loss in the last quarter and said it was cutting about 17,000 jobs. A weekslong strike by Boeing machinists is costing the company tens of millions of dollars each day, according to analyst estimates, adding to the financial strain created by long-running production and quality issues.The fund-raising aims to stave off a potential credit rating downgrade, which could make it more expensive for the company to borrow money. Boeing has about $58 billion in debt. S&P Global Ratings said this month that it was considering lowering Boeing’s credit rating to “junk” status, depending on how long the strike continues.Boeing’s shares fell about 1 percent Monday morning. The company’s stock has fallen more than 40 percent this year.Last week, Boeing’s largest union, which represents about 33,000 workers, rejected a tentative labor contract, extending a strike that began last month and has halted airplane production at crucial plants in the Seattle area. The proposed agreement did not address a frozen pension plan that workers were seeking to restore.Boeing indicated in regulatory filings this month that it planned to raise as much as $25 billion by selling stock or debt over the next three years, and the company entered into a $10 billion credit agreement with a group of banks. It described the plans as “two prudent steps to support the company’s access to liquidity.”The plane maker hasn’t reported an annual profit since 2018. Before the machinists’ strike started to weigh on the company, two fatal crashes of Boeing’s 737 Max in 2018 and 2019 cost it billions of dollars and severely damaged its reputation. Concerns about the safety of Boeing’s commercial planes resurfaced in January, when a door panel on a 737 Max 9 jet blew open during an Alaska Airlines flight.The stock sale on Monday covers only the company’s near-term needs, “without an extended strike or further production disruptions,” analysts at Wells Fargo said in a research note. More

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      Boeing Union Workers Reject Contract

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      The vote, hours after Boeing reported a $6.1 billion loss, will extend a monthlong strike at factories where the company makes its best-selling commercial plane.Boeing’s largest union rejected a tentative labor contract on Wednesday, a blow to the aerospace manufacturer and the Biden administration, which had intervened in the hopes of ending an economically damaging strike that began more than five weeks ago.The contract, the second that workers have voted down, was defeated by a wide margin, with 64 percent of those voting opposing the deal, according to the union, the International Association of Machinists and Aerospace Workers. The union represents about 33,000 workers, but it did not disclose how many voted on Wednesday.“This wasn’t enough for our members,” said Jon Holden, president of District 751 of the union, which represents the vast majority of the workers. “They’ve spoken loudly and we’re going to go back to the table.”The vote is a setback for Boeing’s new chief executive, Kelly Ortberg, who is trying to restore Boeing’s reputation and business, which he described in detail earlier on Wednesday. In remarks to workers and investors, Mr. Ortberg said Boeing needed to undergo “fundamental culture change” to stabilize the business and to improve execution.“Our leaders, from me on down, need to be closely integrated with our business and the people who are doing the design and production of our products,” he said. “We need to be on the factory floors, in the back shops and in our engineering labs. We need to know what’s going on, not only with our products, but with our people.”Mr. Ortberg delivered that message alongside the company’s quarterly financial results, which included a loss of more than $6.1 billion. This month, Boeing also announced plans to cut its work force by about 10 percent, which amounts to 17,000 jobs. Boeing also recently disclosed plans to raise as much as $25 billion by selling debt or stock over the next three years as it tries to avoid a damaging downgrade to its credit rating.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Boeing Workers Go on Strike: What to Know

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      Thousands of Boeing workers in Washington State and Oregon walked off the job on Friday in the first strike at the plane maker in 16 years.Boeing is facing a strike that threatens to disrupt plane production, after workers overwhelmingly voted to reject a tentative contract their unions had reached with the company.Thousands of workers walked off the job in the Seattle and Portland, Ore., regions on Friday, a move that is likely to stall operations at factories where Boeing manufactures most of its commercial planes. While the deal their unions struck with the company on Sunday included double digit pay raises and improvements to benefits, 95 percent of workers rejected the proposed contract, opting instead to leverage a strike to push for more.Here’s what else to know about the company’s first strike since 2008:How many workers are on strike?Boeing, one of the largest exporters in the United States, employs a total of nearly 150,000 people across the country — almost half of them in Washington State — and more than 170,000 people worldwide. The contract that spurred Friday’s strike covers about a fifth of the company’s employees.A vast majority of the 33,000 workers under the contract are represented by District 751 of the International Association of Machinists and Aerospace Workers, Boeing’s largest union. Most of that union’s members work on commercial airplanes in the Seattle area. Workers in the Portland, Ore., area, who are represented by the union’s smaller District W24, are also on strike.What prompted them to walk off the job?The leaders of the unions representing the workers on strike reached a tentative deal with Boeing on Sunday that would have secured raises of 25 percent over four years, along with improvements to health care and retirement benefits. The company also committed to building its next commercial plane in the Pacific Northwest.But workers’ overwhelming rejection of that tentative contract reflects their willingness to fight for more, in large part to make up for concessions made in past talks, including the loss of pension benefits a decade ago. The unions started the talks by asking for raises of 40 percent.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      80-Year-Old Seattle Dog Walker Is Killed in a Carjacking, Police Say

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      The great-grandmother struggled with a man inside her car before being forced out and then struck by the vehicle, the police said. Her dog was later found dead in a recycling bin.An 80-year-old Seattle woman who worked as a neighborhood dog walker was killed on Tuesday morning when a man got into her car, forced her out, struck her with the vehicle and drove off with her dog, which he later killed with a knife, the police said.The woman killed in what the authorities said was a random attack was Ruth Dalton, a great-grandmother who the police said was “well-loved.”She was in her Subaru in the Madison Valley neighborhood with at least two dogs inside just before 10 a.m. Tuesday when a man got in from the passenger side, officials with the Seattle Police Department said at a news conference on Wednesday afternoon. The two struggled, and the moving car went off the road onto a grassy area.Nearby drivers stopped their cars and ran to help Ms. Dalton, the police said.One bystander backed away when the man pulled out a knife, but he returned with a stick or bat to help Ms. Dalton, the police said. By the time the bystander had run back to Ms. Dalton’s car, the man had already forced her out. The carjacker put the Subaru into reverse, crashed into two vehicles, struck Ms. Dalton and drove off, the police said.Others who were nearby rendered first aid to Ms. Dalton, and emergency workers with the Seattle Fire Department provided medical treatment, but she was pronounced dead at the scene.A memorial was created for Ruth Dalton, a dog walker who was killed during a carjacking in Seattle.Ivy Ceballo/The Seattle Times, via Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Seattle’s ‘Belltown Hellcat’ Is Arrested and Barred From Instagram

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      After months of roaring around the city in a souped-up Dodge Charger, drawing furious complaints and unpaid fines, Miles Hudson was led out of court on Monday in handcuffs.A man who for months has infuriated Seattle residents with his raucous driving and late-night social media escapades was ordered into custody on Monday and prohibited from posting to his vast following on Instagram.Miles Hudson, 21, known in Seattle as the “Belltown Hellcat,” has faced a series of escalating legal troubles after spending many nights roaring through downtown streets, the explosive backfires from his Dodge Charger Hellcat SRT shaking windows and rattling nerves. Separately, a woman accused him of stalking her and sending explicit images of her to other people.At a hearing on Monday where Mr. Hudson appeared wearing a facial covering, Magistrate Judge Seth Niesen ordered him taken into custody, setting bail at $5,000 for the domestic stalking case and $2,500 for the reckless driving case.He also barred Mr. Hudson from posting on his Twitch and Instagram accounts.“If there are any posts from those accounts, it’s a violation of this court’s order,” the judge said, before a court marshal placed handcuffs on Mr. Hudson and led him out of the courtroom.Mr. Hudson has built a following of more than 750,000 on Instagram. Many of his videos show him driving Seattle’s streets at nights, the car revving and backfiring. At least one video shows Mr. Hudson exceeding 100 miles per hour on downtown streets. Residents have repeatedly complained, saying the noise, which often sounds like gun shots, is keeping them awake at night.City officials at first responded with citations, fines and a lawsuit.But Mr. Hudson seemed to relish his growing notoriety. In a video interview posted in recent days, he says that those bothered by the noise should consider relocating to higher units. And he has an answer for people who complain that his vehicle is waking their pets or children.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Sleepless in Seattle as a Hellcat Roars Through the Streets

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      As much of Seattle tries to sleep, the Hellcat supercar goes on the prowl, the howls of its engine and the explosive backfires from its tailpipes echoing off the high-rise towers downtown. Windows rattle. Pets jump in a frenzy. Even people used to the ruckus of urban living jolt awake, fearful and then furious. Complaints have flooded in for months to city leaders and the police, who have responded with warnings, citations, criminal charges and a lawsuit, urging the renegade driver to take his modified Dodge Charger SRT Hellcat from the city streets to a racetrack. Instead, the “Belltown Hellcat,” with its distinctive tiger-stripe wrap, has remained on the move.For hundreds of thousands of people with Instagram accounts, the driver is a familiar character: @srt.miles, otherwise known as Miles Hudson, a 20-year-old resident of one of the Belltown neighborhood’s pricey apartments. For all the aggravated residents who view him with increasing disdain — “Entire neighborhoods are angry and sleep deprived,” one resident wrote their local council member — many more are tracking his escapades on social media, celebrating a life unencumbered by self-consciousness or regret. When Mr. Hudson posted a video (350,494 likes) showing his speedometer topping 100 miles per hour during a downtown outing to get boba tea, a follower asked: “How does it feel living my dream?” When he posted a video (698,712 likes) showing the rowdy rattles of the Hellcat, another replied: “You really make the town so fun at night.”In one self-reflective post, Mr. Hudson captured video (68,715 likes) of himself watching a television news segment that discussed the city’s concern about his driving, and proceeded to rush frantically around the apartment, pretending to be fearful that the police were on to him. “I like your content so when they arrest you I’m coming to get you,” one follower replied.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Who Was Bruce Nordstrom? The Force Behind the Multibillion-dollar Empire

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      Bruce Nordstrom was both the force behind his family’s multibillion-dollar retail dynasty and a stealth godfather to the fashion trade.“Nice” tends to be dirty word in business. The cliché holding that nice guys finish last has seldom seemed more true than in the landscape of contemporary retailing, where business is dominated by corporate consolidation, monopolistic practices and shareholder returns as the ultimate value.Yet nice, as it turns out, may not be altogether pejorative — at least judging by the career of Bruce Nordstrom, who died May 18 at age 90. It may even be a key to success.For decades, Mr. Nordstrom helped lead the Nordstrom retail empire, which was founded in Seattle in 1901 by his grandfather, an immigrant from Sweden. The fashion retail colossus began as a shoe store, and ultimately expanded to include 150 locations worldwide.Publicly traded since the 1970s and still family-run, the Nordstrom chain was predicated on an ethos of decency and niceness, Robert Spector wrote in “The Nordstrom Way,” his 1996 book about the company’s vaunted reputation for customer service.“I came at the reputation with skepticism,” Mr. Spector said by telephone from his home outside Seattle. “I wish it were more complicated, but they are who they say they are, decent and humble and focused on the customer first.”The Nordstrom culture of customer care is not only real, it originated from a family tradition of bottom-up managerial training. Bruce Nordstrom may have run a multibillion-dollar company, but he never forgot his beginnings sweeping floors and breaking down boxes for 25 cents an hour. “It may be the biggest competitive advantage they have,” Mr. Spector said of Nordstrom’s unusual company structure.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      A Look at Washington State’s ‘Strippers’ Bill of Rights’

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      Signed into law by Gov. Jay Inslee, the legislation provides wide-ranging protections for adult dancers.Washington State recently enacted a law that includes wide-ranging workplace protections for adult dancers, who have long fought for such measures across the country.The law, known as the Strippers’ Bill of Rights, was signed by Gov. Jay Inslee on March 25. It includes anti-discrimination provisions and mandatory club employee training.Supporters of the law say that it includes incentives for establishments to comply, as it carves a path for them to obtain liquor licenses. The state traditionally has prohibited venues that allow sexual performances to sell alcohol.“It is crucial that we confront the stigma surrounding adult entertainment and recognize the humanity of those involved in the industry,” State Senator Rebecca Saldaña of Seattle, a Democrat who sponsored the legislation, said in a statement.“Strippers are workers,” she said, “and they should be given the same rights and protections as any other labor force.”Madison Zack-Wu, the campaign manager for Strippers Are Workers, a dancer-led organization that supported the bill, said in an interview that “the most important part of this policy is that it was created by dancers, for ourselves in our own working conditions.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Criminal Inquiry Into Boeing Panel Blowout Expands

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      The Justice Department, which is investigating the blowout of a panel on an Alaska Airlines flight, is using a recently convened grand jury in Seattle.The Justice Department is sending subpoenas and using a recently convened grand jury in Seattle as it widens a criminal investigation into the door plug that blew off a Boeing 737 Max 9 jetliner in January, a person familiar with the matter said on Friday.The detachment of the panel from the fuselage of an Alaska Airlines flight shortly after takeoff terrified passengers at 16,000 feet and required an emergency landing back at Portland International Airport in Oregon. A preliminary report by the National Transportation Safety Board said four bolts meant to secure the door plug in place were missing before the panel blew off.This month, it was reported that the Justice Department had opened a criminal investigation of Boeing, which had reinstalled the door plug during maintenance in Renton, Wash., before delivering the plane to Alaska Airlines in October.The subpoenas and use of the grand jury were reported earlier Friday by Bloomberg.The midair incident on Jan. 5 led the Federal Aviation Administration to ground more than 170 Max 9 planes, which were then inspected for construction flaws. Boeing said it agreed with the F.A.A.’s decision and pledged to cooperate. The company has said safety is its top priority.The Max 9s have since restarted flights, but questions remain about the malfunction. A grand jury could be asked to decide whether a criminal prosecution is warranted. A likely focus would be repairs to the Alaska Airlines plane’s rivets, which are often used to join and secure parts on planes, by workers at the Boeing plant in Renton.The episode has brought a fresh round of scrutiny to Boeing. The company made grim headlines in 2018 and 2019 when two crashes of another 737 model, the Max 8, killed 346 people. Max 8 jets were grounded for almost two years. The company subsequently spent more than $2.5 billion to settle a criminal charge that Boeing had defrauded the F.A.A., and the company’s chief executive, Dennis Muilenburg, was fired.Under his replacement, Dave Calhoun, Boeing’s stock has risen, though the company has struggled to meet airlines’ demands. Production of the 737 Max fell to about half of Boeing’s stated goals last year, as the company was bedeviled by supply chain issues with key suppliers and problems with fuselages.Now, the company is facing far steeper challenges. Two days after the door plug incident, Mr. Calhoun sent a memo to employees stating that “while we’ve made progress in strengthening our safety management and quality control systems and processes in the last few years, situations like this are a reminder that we must remain focused on continuing to improve every day.” More