Boeing machinists are holding a contract vote that could end their 7-week strike

abcnews.go.com:

Unionized factory workers at Boeing are voting on Monday whether to accept a contract offer or to continue their strike

Unionized factory workers at Boeing are voting Monday whether to accept a contract offer or to continue their strike, which has lasted more than seven weeks and shut down production of most Boeing passenger planes.

A vote to ratify the contract would clear the way for the aerospace giant to resume airplane production and bring in much-needed cash. If members of the International Association of Machinists and Aerospace Workers vote for a third time to reject Boeing's offer, it would plunge the company into further financial peril and uncertainty.

In its latest proposed contract, Boeing is offering pay raises of 38% over four years, as well as ratification and productivity bonuses. IAM District 751, which represents Boeing workers in the Pacific Northwest, endorsed the proposal, which is slightly more generous than one the machinists voted down nearly two weeks ago.

“It is time for our members to lock in these gains and confidently declare victory," the union district said in scheduling Monday's vote. «We believe asking members to stay on strike longer wouldn’t be right as we have achieved so much success.”

Union officials said they think they have gotten all they can though negotiations and a strike, and that if the current proposal is rejected, future offers from Boeing might be worse. They expect to announce the result of the vote Monday night.

Boeing has adamantly rejected requests to restore traditional pensions that the company froze nearly a decade ago. Pensions were a key issue for workers who voted down previous offers in September and October.

If machinists ratify the latest offer, they would