Boeing's (NYSE:BA) Strikers Demand CEO 'Truly Engage'

The ongoing strike at aerospace company Boeing Co. (BA) hasn't done the stock any favors. Production is minimal, costs are rising and there is little sign of it getting back on track. Now Boeing employees are calling on the CEO to “really get involved.”

Boeing's negotiating style has been unusual so far. Management agreed to toothless ultimatums. It made private negotiations public. And now Boeing employees are calling on new CEO Robert Ortberg to get more personally involved in the negotiations.

Brian Bryant, president of the striking union International Association of Machinists and Aerospace Workers, said: “It's time for the new CEO to really engage at the suggestion level and take the reins from his subordinates who are making critical decisions.” To illustrate his frustration, Bryant pointed to recent health insurance cuts.

How the port strike is hurting Boeing

As if all of that wasn't bad enough, Boeing is burdened by another problem: the longshoremen's strike. This strike may hurt Boeing as several of its facilities source parts from some of the ports that have been closed in recent days.

For example, the 787 Dreamliner is a product of South Carolina, and this facility sources its parts from a port in Charleston. With the closure of the Port of Charleston, Boeing loses access to spare parts, while its own production is paralyzed by the machinists' strike.

Is Boeing a good stock to buy right now?

As for Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 15 Buy recommendations, four Hold recommendations, and two Sell recommendations made over the past three months, as shown in the chart below. Following a share price loss of 18.48% over the past year, BA's average price target of $207.68 per share implies an upside potential of 35.16%.