Economist says Boeing sale will hurt in short term

WICHITA, Kan. (AP) -- An economist says the sale of Boeing's commercial aircraft plants in Tulsa, McAlester and Wichita, Kansas, to a Canadian investment firm will take an economic toll on the region

Monday, June 6th 2005, 10:02 am

By: News On 6

WICHITA, Kan. (AP) -- An economist says the sale of Boeing's commercial aircraft plants in Tulsa, McAlester and Wichita, Kansas, to a Canadian investment firm will take an economic toll on the region -- at least in the short term.

Onex Corporation is buying the three plants and formed Mid-Western Aircraft systems to run them. During the weekend Onex told more than a thousand workers they won't have jobs with the company.

Onex is also negotiating with unions for concessions that include wage cuts.

Economist Janet Harrah at Wichita State University says the job and wage cuts will result in a one percent deduction in the region's personal income.