The Boeing bosses are part of a ruling class oppressing workers worldwide. Their Board of Directors is linked to some of the country’s largest corporations and biggest Wall Street investment houses who are looking to make a killing out of any bailout scheme that the bankers and their politician servants can work out. But they also have their hands full these days, with the strike and the financial crisis.
The top Boeing bosses run not only Boeing but they and their class run the whole country, and both political parties.
For example, Boeing director Edward Liddy is also a director of manufacturing giant 3M and (till recently) financial giant Goldman-Sachs. His 3M, like Boeing, makes profit the old-fashioned way, by exploiting workers who create value from making products. However, his Goldman Sachs has been profiting the deregulated way, by gambling and cheating — speculating in the markets and selling bad debts — because it was temporarily more profitable than investing in production.
But the new way has problems. Said the NY Times, “A significant portion of the financial boom…seems to have been unrelated to economic performance and thus unsustainable.” So now Liddy and his cronies are getting the government to bail them out.
Their Goldman Sachs is taking advantage of the bankrupting of competitors like Lehman Bros. Had insurance giant AIG failed, it might have taken down Goldman Sachs, but the government bought, and saved, AIG — and Goldman Sachs. Now Liddy is the new CEO of AIG! Boeing director John Biggs is also a director of JP Morgan Chase and former CEO of TIAA-CREF, the national teacher’s pension fund. His successor there, Herbert Allison, is now head of Fannie Mae (currently on government life support).
While a bailout may be advantageous to these bosses, they still have to sell it — to Congress, U.S. workers and to international capitalists. If the world’s bosses don’t go along, it could endanger the dollar as the world’s reserve currency.
Another Boeing boss, William Daley, is a key Democratic Party power broker and an Obama “senior advisor.”His brother Richard is currently Chicago’s mayor, and a big Obama backer. These Democrats are trying to convince workers and youth that “Republican greed” caused the meltdown and that Barack will lead them to the promised land of regulated capitalism. Obama’s main job is to win U.S. youth and workers to sacrifice blood and sweat for these thieves’ continued rule.
Although these Boeing bosses know they can count on Obama to serve Wall Street, some are backing his rival McCain (elections are unpredictable). Another Boeing boss, Kenneth Duberstein, is a director of Big Oil’s ConocoPhillips and was once Republican Reagan’s chief of staff. He’s a long-time McCain advisor and member of Timmons & Co., a leading lobbyist firm. McCain named its CEO, William Timmons, to lead his transition team.
Duberstein, a champion of unregulated capitalism, was also a Fannie Mae director. From 2002-2006 his firm advised that mortgage broker on regulatory matters — how to keep the scam going!
So, the Boeing Board members know that whoever becomes president, he will be tied to the same jackals that caused the meltdown in the first place.
They may have the election sewn up, but they still must convince the world that the U.S., while possibly going bankrupt, is still the only superpower. They plan strategy in the Council on Foreign Relations, the Rockefeller/Morgan-sponsored think-tank that (“unofficially”) plots U.S. foreign policy. Its members include Boeing bosses Biggs, Daley, and Duberstein!
These bandits know they’re in deep trouble. Basically they didn’t make enough profit the “old-fashioned way” so they deregulated, starting with Reagan and growing under Clinton. Instead of investing in industrial production, they had to resort to scams like subprime mortgages — that the old rules made difficult — to make a fast buck.
Now they want to re-industrialize, but not making washing machines and hair dryers. What money remains will be spent on armaments to control the world’s oil supplies and destroy their rivals’ productive capacity.
They want to bail themselves out. But ultimately it’s workers’ loss of homes, jobs and health care, earning slave wages that would bail them out, in their drive to reindustrialize for war production to fight imperialist wars.
The union wanted strikers to come into this battle blaming black, Latino and Chinese subcontractor workers. But when one seller held up our CHALLENGE strike Extra and shouted, “Read how L.A. subcontractor workers support Boeing strikers,” she was cheered.
Based on this experience, a Boeing CHALLENGE reader wrote a “thank you” note from us strikers to L.A. subcontractor workers who have sent support letters and spoken at some of our BBQs. It was the first political document he’s written. He presented it to our group that meets at a nearby restaurant. He knew the union would stonewall any effort to build multi-racial, international unity between non-union subcontractors and us so he proposed a way to gather many rank-and-file signatures right now. Another shop steward agreed to sell more CHALLENGES after this discussion.
Small, but useful, victories as the strike goes on. Holding the line while struggling to advance PLP’s revolutionary communist line.
STATEMENT FROM CHALLENGE READERS AT A BROOKLYN HOSPITAL
We the CHALLENGE readers express our solidarity with the Boeing workers.
We support our brothers and sisters in their struggle against the Boeing company.
Boeing recently made $20 billion in profit from super-exploiting Boeing workers yet Boeing refuses to meet the economic demands from the workers.
However, the bosses’ government is spending billions in taxpayers’ money to bail out the banks, mortgage and insurances companies, while millions of U.S. workers’ wages have stagnated and health and pension benefits have grown stingier.
We, the CHALLENGE readers, are contributing $70 towards your struggle.
Keep up the fight against the bosses at Boeing.