Port Strike Averted After 30-Day Contract Extension ReachedThe union for longshoremen along the East Coast and Gulf of Mexico has agreed to extend its contract for 30 days, averting a possible strike that could have crippled operations at ports that handle about 40 percent of all U.S. container cargo, a federal mediator announced Friday.
Dockworker Strike Could Cost Companies $1 Billion A DayShipments of products as varied as flat-screen TVs, sneakers and snow shovels could sit idle at sea or get rerouted, at great time and expense, if more than 14,000 longshoremen go on strike as threatened — a wide-ranging work stoppage that would immediately close cargo ports on the East Coast and the Gulf of Mexico to container ships.