For eight straight months, Boeing (BA 1.51%) and its engineers' union, the Society of Engineering Employees in Aerospace, have tried to hammer out a re-up for their labor agreement of four years ago. This week, as federal negotiating specialists looked on, the negotiations ground to a complete halt.

Find out what went wrong, what's next for the warring parties -- and what it all means for Boeing parts suppliers such as Honeywell (HON -0.91%), General Electric (GE 1.30%), and Spirit AeroSystems (SPR 0.86%). Fool contributor Rich Smith explains in the following video.