longshoremen

A container ship is docked at the Port of Miami on Dec. 27, 2012 in Miami, Fla. (credit: Joe Raedle/Getty Images)

Port Strike Averted After 30-Day Contract Extension Reached

The 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.

12/28/2012

A container ship is docked at the Port of Miami on Dec. 27, 2012 in Miami, Fla. (credit: Joe Raedle/Getty Images)

Dockworker Strike Could Cost Companies $1 Billion A Day

Shipments 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.

12/28/2012

Follow

Get every new post delivered to your Inbox.

Join 1,745 other followers