Three days of negotiations between Boeing Co. and its second-largest union broke down with the sides still far apart on major issues, a union spokesman said. No further talks were scheduled. The 22,600-member Society of Professional Engineering Employees in Aerospace went on strike Feb. 9 seeking more guaranteed pay raises and bonuses similar to those received by the larger Machinists union. As a result, the Seattle-based company has struggled to complete work on commercial airplanes, delivering fewer than 10 this month.
General Motors, Ford, and DaimlerChrysler announced a joint Internet venture to handle more than $240 billion in annual purchasing of raw materials, parts, and other supplies. It could be the largest Internet company in terms of revenues, analysts said. The automakers will have an equal stake in the company, which will be run independently. Officials said the the system will be open to other automakers; GM's Japanese partners - Isuzu, Subaru, and Suzuki - as well as Ford's Japanese affiliate, Mazda, are expected to join.
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