Nearly 3,200 Boeing workers who build fighter jets are now on strike
About 3,200 workers at Boeing facilities in St. Louis; St. Charles, Missouri; and Mascoutah, Illinois, voted to reject a modified four-year labor agreement with Boeing, the International Association of Machinists and Aerospace Workers union said Sunday.
In a post on X, the union said: '3,200 highly-skilled IAM Union members at Boeing went on strike at midnight because enough is enough.'
The vote followed members' rejection last week of an earlier proposal from the troubled aerospace giant, which had included a 20% wage increase over four years.
'IAM District 837 members build the aircraft and defense systems that keep our country safe,' said Sam Cicinelli, Midwest territory general vice president for the union, in a statement. 'They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise.'
At the time of the earlier vote, union leaders had recommended approving the offer, calling it a 'landmark agreement' and saying it would improve medical, pension and overtime benefits.
The union members rejected the latest proposal after a weeklong cooling-off period.
'We're disappointed our employees rejected an offer that featured 40% average wage growth and resolved their primary issue on alternative work schedules,' said Dan Gillian, Boeing Air Dominance vice president and general manager, and senior St. Louis site executive. 'We are prepared for a strike and have fully implemented our contingency plan to ensure our non-striking workforce can continue supporting our customers.'
Boeing has been struggling after two of its Boeing 737 Max airplanes crashed, one in Indonesia in 2018 and the other in Ethiopia in 2019, killing 346 people. In June, one of Boeing's Dreamliner planes, operated by Air India, crashed, killing at least 260 people.
Last week, Boeing reported that its second-quarter revenue had improved and losses had narrowed. The company lost $611 million in the second quarter, compared to a loss of $1.44 billion during the same period last year.
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High Yield and Low Stress: 2 Dividend ETFs That Are Built for Passive Income
Key Points Statistical evidence supports the idea that these two ETFs can simultaneously grow capital and generate income. Maximum monthly drawdowns are less than the benchmark's performance, and so is the risk as defined by standard deviation. These ETFs do relatively best when benchmark indexes are highly volatile but still make money in bull markets. 10 stocks we like better than JPMorgan Equity Premium Income ETF › The JPMorgan Equity Premium Income ETF (NYSEMKT: JEPI) and JPMorgan Nasdaq Equity Premium Income ETF (NASDAQ: JEPQ) have garnered significant investor attention, in part due to their trailing-12-month dividend yields of 8.2% and 11.2%, respectively. Moreover, they offer monthly income, making them a favorite among passive income investors. As such, it would be interesting to share some modeling of their performance to see if they do offer investors a way to a relatively low-volatility strategy that practically guarantees a monthly income. (Keep in mind dividends can always be cut.) Introducing two JPMorgan ETFs The first thing to understand about these two exchange-traded funds is that they are not tailored to invest in dividend stocks. Instead, they both follow the same strategy of investing up to 80% of net assets in equities (stocks), with the only difference being that the Equity Premium ETF focuses on S&P 500 stocks while the Nasdaq Equity Premium ETF focuses on stocks in the Nasdaq-100. As noted above, the stocks are not explicitly selected for their dividend yield, an essential point because high-yield equity-focused ETFs often involve concentrating holdings in sectors with high yields. The remaining net assets, up to 20%, are invested in equity-linked notes (ELNs) that follow a strategy of selling call options on the indexes that the two ETFs benchmark -- S&P 500 and Nasdaq-100, respectively. A call option is the right to buy shares of the index at a specified price (the strike price) and is bought by bullish investors. The seller of the call options (in this case the ETF) receives a premium from the buyer. However, if the index increases significantly, the option is exercised, and the ELN typically incurs a loss. Conversely, when the index experiences a small gain, stays flat, or loses value, the option isn't exercised. The idea is that an anticipated net profit in premiums collected from the ELNs, combined with some dividend income from stock holdings, will generate sufficient income for distributions to be paid to shareholders under any condition, particularly in the event of a substantial increase in the index. And note that the upside is limited (gains less than the market), but the downside is also restricted. This table lays out how the portions of the ETFs will perform based on how the underlying index performs in a month. Monthly Index Performance Strong Gain Moderate Gain Moderate Loss Strong Loss Equities (At least 80% of the ETF assets) Strong Gain Gain Loss Strong Loss ELNs (Up to 20% of the ETF's assets) Loss Profit Profit Profit Overall Gain, but less than the market Gain, but less than the market Slight profit/slight loss Loss, but less than the market Author's analysis. What the ETFs need to do to demonstrate they work Before I throw charts at you, it's worth noting that the proof of the strategy working includes: The ETF should have a lower volatility than the index (measured here by the standard deviation of monthly returns). The ETFs should have relatively low maximum monthly drawdowns because passive investors usually do not want to lose a significant amount in any one month. The strategy should demonstrate a high coefficient of determination, or R^2, indicating that the independent variable (in this case, the benchmark index) is primarily responsible for determining the outcome. Performance consistent with the outcomes outlined in the table above. That said, here are the charts comparing the monthly index performance to the ETF's performance. Both sets of data include reinvestment of dividends. First, here's the JPMorgan Equity Premium Income ETF. And now the JPMorgan Nasdaq Equity Premium Income ETF. A few conclusions can be drawn from the data, along with some additional calculations. The monthly standard deviation of the S&P 500 over the period is 4.7%, compared to 3.1% for JEPI, indicating lower volatility returns. The monthly standard deviation of the Nasdaq-100 over the period is 5.7%, compared to 4.2% for JEPQ, indicating lower volatility returns. Both ETFs exhibit high R^2 values, indicating a consistency of outcome from the strategy. The three most significant monthly drawdowns for JEPI are -6.4%, -4.2%, and -4.1%. The three most significant monthly drawdowns for JEPQ are -8.7%, -6.8%, and -6.6%. In general, the strategy is effective, generating a collection of positive returns when the indices report moderate gains and losses. The downside is limited compared to the index when the market declines significantly, and the upside is limited when the indexes perform well. What it means to passive investors Both indices have performed very well over the periods, with an average monthly gain of 1.5% on the S&P 500 and 1.8% on the Nasdaq; therefore, the ETFs have understandably underperformed. However, there's no guarantee that these conditions will continue, and these ETFs have demonstrated lower volatility returns while maintaining substantial dividends for those seeking monthly income. As such, they are excellent options for those seeking to generate passive income across a range of market conditions. Should you invest $1,000 in JPMorgan Equity Premium Income ETF right now? Before you buy stock in JPMorgan Equity Premium Income ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and JPMorgan Equity Premium Income ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $663,630!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,695!* Now, it's worth noting Stock Advisor's total average return is 1,071% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy. High Yield and Low Stress: 2 Dividend ETFs That Are Built for Passive Income was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
