Boeing and the union representing striking machinists have negotiated a new contract proposal that would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month. The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday. The union said the deal would increase pay by 35 per cent over four years, up from 30 per cent that was offered last month. It also boosts the ratification bonus to USD 7,000 per worker instead of USD 6,000. The new offer would not restore a traditional pension plan a key demand of the 33,000 striking workers but it would increase the amount of contributions to 401(k) retirement plans that Boeing would match and retain performance bonuses that Boeing wanted to eliminate, the union said. The fact the company has put forward an improved proposal is a testament to the resolve and dedication of the frontline
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