• Economy
  • Investing
  • Editor’s Pick
  • Stock
Evil Shark Trades
Stock

Dockworkers union, port companies reach tentative 6-year deal

by January 9, 2025
by January 9, 2025

Tens of thousands of dockworkers reached a tentative agreement Wednesday on a new, six-year contract with the U.S. Maritime Alliance, which represents 14 major ports from Boston to Miami and along the Gulf Coast from Mobile, Alabama, to Houston.

Both sides say the tentative agreement will avoid a looming strike at midnight Jan. 15. “We are pleased to announce that ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, subject to ratification, thus averting any work stoppage,’ the parties announced in a news release.

“This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports — making them safer and more efficient, and creating the capacity they need to keep our supply chains strong.’

The primary sticking point in talks between the International Longshoremen’s Association and the Maritime Alliance was automation. ILA President Harold Daggett repeatedly promised dockworkers there would be no automation or semi-automated terminals. ‘I’m going to save everybody’s job when it comes to the ILA. … I’ll shut them down throughout the world.’

The Maritime Alliance has said it was not seeking to implement automation to replace workers.

“What we need is continued modernization that is essential to improve worker safety, increase efficiency in a way that protects and grows jobs, keeps supply chains strong, and increases capacity that will financially benefit American businesses and workers alike,’ it said in November.

The tentative agreement caps months of back-and-forth between the workers and the ports. In September, at least 14 ports across the East Coast shut down for days, stranding billions of dollars in goods. A strike could have exposed the U.S. economy to as much as $4.5 billion of impact per week, according to an estimate last year from J.P. Morgan.

The union says details of the agreement will not be released until rank-and-file workers are able to review it.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Trump, Pence shake hands at Carter funeral in first public meeting since leaving office
next post
‘Senator for all’: Fetterman set to meet with Trump at Mar-a-Lago

You may also like

Home Depot is buying GMS for about $4.3...

Home Depot is buying GMS for about $4.3...

Microsoft says goodbye to the Windows blue screen...

Apple reveals complex system of App Store fees...

Divided Fed proposes rule to ease capital requirements...

Women’s Tennis Association extends media rights deal with...

Bumble shares jump 26% as dating company plans...

Small-business AI use is lagging, but one firm...

Nvidia CEO Huang sells $15 million worth of...

How Fanatics is teaching business acumen to pro...

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Trump warns of ‘whopping 68% tax increase’ if Senate fails to pass historic bill
    • Home Depot is buying GMS for about $4.3 billion as it chases more home pros
    • Home Depot is buying GMS for about $4.3 billion as retailer chases more home pros
    • Trump signs order lifting sanctions on Syria
    • Trump’s ‘big, beautiful bill’ hits another snag in House as conservative caucus raises red flag

    Categories

    • Economy (6,496)
    • Editor's Pick (3,862)
    • Investing (2,826)
    • Stock (1,357)
    Email Whitelisting About Us Terms & Conditions Privacy Policy Contact Us

    Disclaimer: Evilsharktrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EvilSharkTrades.com


    Back To Top
    Evil Shark Trades
    • Economy
    • Investing
    • Editor’s Pick
    • Stock