A top exec confirms that the current and much revised 787 schedule is holding steady, though not without some concerns. The delays in scaling up assembly - especially on a scale for regular delivery to customers - has been painful and frustrating. Yet, the 787 remains on track to be a dominant aerospace product in coming years thanks to its already record-breaking sales.

Concurrently, Airbus woes getting the A380 on track continue, even after customers have begun receiving the first versions of the model. This is a clear boon to Boeing, given that the more organizational resources and energy Airbus plows into righting the A380, the less it spends getting the multiple version of the A350 off the drawing board to compete with Boeing's strong-selling 777 and 787 models.

Back at home, the Machinists continue being Machinists (a.k.a. denizens of the old economy). Their willingness to strike is obvious and the company's motivation to avoid one, given existing delays with the 787, are likewise evident.

That said, preliminary talk surrounding the upcoming contract negotiations with Boeing is already yielding the same divide that we've discussed here in the past.

In short, one can rest assured the company will bargain to move away from the legacy, corporate welfare regime that has crippled the airline, auto, and steel industries. The Machinists will no doubt resist such changes, just as before. In return, Boeing will make concessions on old economy perks like retiree health care and pensions while reducing or eliminating offers for incentive payouts, extra 401(k) payments, and the like.

And the next time the Machinists come to the table to bargain for a contract, they'll still be wondering why it is that Boeing insists on utilizing a complicated, global assembly network like that used for the 787 rather than paying for more over-priced old economy hires here at home.