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U.S. ports from Maine to Texas are preparing for a potential shutdown in a week, when the union representing 45,000 dockworkers in that region has threatened to strike starting Oct. 1.
J.P. Morgan estimated that a strike that shuts down East and Gulf coast ports could cost the economy $3.8 billion to $4.5 billion per day, with some of that recovered over time after normal ...
Striking U.S. dockworkers have reached a tentative agreement with shipping and port terminal companies for a wage hike of around 62% that will end a three-day strike, a source familiar with the ...
The dockworkers' negotiating stand is likely further strengthened by the nation's supply chain of goods being under pressure in the aftermath of Hurricane Helene, which has coincided with the peak shipping season for holiday goods. [4] The strike represented the first strike at East Coast and Gulf Coast ports since 1977. [5]
West Coast dockworkers belong to a different union and aren’t involved in the strike. If a strike were deemed a danger to U.S. economic health, President Joe Biden could, under the 1947 Taft-Hartley Act, seek a court order for an 80-day cooling-off period. That would suspend the strike.
The 45,000 dockworkers who went on strike Tuesday for the first time in decades at 36 U.S. ports from Maine to Texas may wield the upper hand in their standoff with port operators over wages and ...
An 11-day shutdown at West Coast ports in 2002, he said, “took close to six months to recover from.’’ "A longer strike could hurt retail profitability as there would be delay in future deliveries, with seasonal and fashion goods arriving past their peak selling period, resulting in lower sales and an increase in markdowns to clear these ...
President George W. Bush used that authority in 2002 to halt an 11-day lockout of union members at West Coast ports. If the strike ends quickly, it isn’t expected to have big consequences for ...