Port strike may be a 'slippery slope' for Biden: Expert

#port #portworkers #strike #biden #yahoofinance

Ports along the East and Gulf Coasts are bracing for a strike at midnight, as the International Longshoremen's Union is demanding higher pay and protection from automation for its port workers.
Margaret Kidd, University of Houston instructional associate professor of supply chain and logistics technology, joins Morning Brief to discuss the looming port strike and how it may impact the US economy.
Kidd tells Yahoo Finance that some estimates project a port strike to cost the US $5 billion per day. She notes that the last port strike was in 1977, and lasted for 45 days. Back then, trade only made up 16% of the US economy. Today, that figure is 28%, and Kidd explains that a port strike would therefore be a "huge hit on the economy."
"I really hope that both sides can come together. Right now, it looks unlikely to be happening today. At some point, I think the president will have to step in, but he's vowed not to do that. So I think it's just going to be a matter of time. You know, maybe possibly another week, a week or two weeks into it, you could possibly see some federal action," she adds.
With the presidential election just over a month away, Kidd believes the port strike has put the Biden-Harris administration under pressure: "If he [Biden] doesn't resolve this potential strike, then he looks weak on the economy. If he does resolve it using federal action, he risks alienating labor. So, I mean, it's a really slippery slope."
The International Longshoremen's Union is seeking a 77% pay increase, which Kidd argues isn't unreasonable. "What we all need to remember is these were frontline first responders during COVID. They put their families behind and put the American people first, going to work every day while we were all in our pajamas doing Zoom calls," she explains.
Given how critical a strike is and how it may impact the economy, Kidd does not expect a strike to last long.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Melanie Riehl

Yahoo Finance: Market Coverage, Stocks, & Business News
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

- Follow Yahoo Finance on social:

[marks]

Joe already looks weak on the economy 😂

[randyosborne]

Dock pirates holding civilization hostage.

[SwolHumanist]

Biden should do like Regan did with the air traffic controller strike.

[chrisnolan]

Protection from automation? Really wages make sense but as a 26 year union member I think that is a bridge to far.
Autoworkers tried this approach and it failed miserably

[Winstonia]

She's wrong.... those pay increases are EXTREMELY unreasonable.... insulting to everyone NOT getting a 77% pay increase!!!!

[owenk]

Those robotic armatures(?)... Each one of those things are staffed with an actual human, yes? So that there's a real human being there to operate the thing (even if it's just enough to safely stop it temporarily, if something goes wrong).

Because, y'know, ...those self-driving cars *never* get into catastrophic accidents when there isn't a (sober and awake) human behind the wheel. To take over when something goes wrong, eh.

*(That, by the way, was sarcasm. ...Just sayin'.)

So, presuming that there's at least one Union-member human being for each robotic arm, how *many* humans are hired for that purpose (safety? prevention of catastrophic loss of time and equipment?)?

Could that number be negotiated?

Yknow, to add personnel in a meaningful way (that would add/assist the work being done)?

Just asking.

Owen Jay Korman
Philadelphia, PA

[alex]

as someone who works at the port of Houston. as crane repair technician making 60$ a hr 😂 i need more work n more

[NoMansEnemy]

The ILWU isn’t only the ILA do your report genius 🤦

[richvargo]

Of course he vowed not to do it’s what they want!!!

[colbyrulesmydoggie]

"We did it Joe."
The latest depop plan

[thomaspatten]

Best take I’ve heard from any commentator so far.

[rickynorris]

Lots of people worked and considered heroes during covid. I don't remember anyone else asking for a 77% raise.

[strummer]

Turning down a 38% raise and demanding a 77% raise is not just and reasonable; it's greedy and wrong; in my opinion. And they will look pathetic if they do not deliver to the millions of hurricane victims from the past few days

[saltymonke]

Thank you for longshoremen for their strike so that port operators can speed up the automation shifts process. 😂

Reminds me of elevator operator strike of NYC in early 1900s. 😂😂

[RobertLupo]

I read their current contract provides them $147, 000 per year, plus no cost health care and $30, 000 contribution to their pension. At a 77% increase they would be looking at a package of over $250, 000 a year....not bad for a high school education.

[loblowry]

77% pay raise spread over six-year period. It is not much. Many of us are only getting a 5% raise hike over a 3-year period. If they get that, then all other unions need that hike as well.

[justinh]

Let's all go work for free so that union collapses instead of the country