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Dockworkers go on a strike that could reignite inflation and cause shortages in the holiday season

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Dockworkers go on a strike that could reignite inflation and cause shortages in the holiday season

PHILADELPHIA (AP) — A strike by dockworkers at 36 ports from Maine to Texas, the first in decades, could snarl supply chains and lead to shortages and higher prices if it stretches on for more than a few weeks.

Workers began walking picket lines early Tuesday in a strike over wages and automation even though progress had been reported in contract talks. The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight.

The strike comes just weeks before the presidential election and could become a factor if there are shortages.

Workers at the Port of Philadelphia walked in a circle outside the port and chanted “No work without a fair contract.” The union, striking for the first time since 1977, had message boards on the side of a truck reading: “Automation Hurts Families: ILA Stands For Job Protection.”

Local ILA president Boise Butler said workers want a fair contract that doesn’t allow automation of their jobs.

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Shipping companies made billions during the pandemic by charging high prices, he said. “Now we want them to pay back. They’re going to pay back,” Butler said.

He said the union will strike for as long as it needs to get a fair deal, and it has leverage over the companies.

“This is not something that you start and you stop,” he said. “We’re not weak,” he added, pointing to the union’s importance to the nation’s economy.

At Port Houston, at least 50 workers started picketing around midnight local time carrying signs saying “No Work Without a Fair Contract.”

Longshoremen strike at midnight at Bayport Terminal on Tuesday, Oct. 1, 2024, in Houston. (AP Photo/Annie Mulligan)

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The U.S. Maritime Alliance, which represents the ports, said Monday evening that both sides had moved off of their previous wage offers. But no deal was reached.

The union’s opening offer in the talks was for a 77% pay raise over the six-year life of the contract, with President Harold Daggett saying it’s necessary to make up for inflation and years of small raises. ILA members make a base salary of about $81,000 per year, but some can pull in over $200,000 annually with large amounts of overtime.

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Monday evening, the alliance said it had increased its offer to 50% raises over six years, and it pledged to keep limits on automation in place from the old contract. The alliance also said its offer tripled employer contributions to retirement plans and strengthened health care options.

The union wants a complete ban on automation. It wasn’t clear just how far apart both sides are.

In a statement early Tuesday, the union said it rejected the alliance’s latest proposal because it “fell far short of what ILA rank-and-file members are demanding in wages and protections against automation.” The two sides had not held formal negotiations since June.

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Striking Philadelphia longshoremen picket outside the Packer Avenue Marine Terminal Port, Tuesday, Oct. 1, 2024. (AP Photo/Ryan Collerd)
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Hundreds of longshoremen strike together outside of the Virginia International Gateway in Portsmouth, Va., Tuesday, Oct. 1, 2024. (Billy Schuerman/The Virginian-Pilot via AP)
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Supply chain experts say consumers won’t see an immediate impact from the strike because most retailers stocked up on goods, moving ahead shipments of holiday gift items.

But if it goes more than a few weeks, a work stoppage could lead to higher prices and delays in goods reaching households and businesses.

If drawn out, the strike will force businesses to pay shippers for delays and cause some goods to arrive late for peak holiday shopping season — potentially impacting delivery of anything from toys and artificial Christmas trees to cars, coffee and fruit.

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The strike will likely have an almost immediate impact on supplies of perishable imports like bananas, for example. The ports affected by the strike handle 3.8 million metric tons of bananas each year, or 75% of the nation’s supply, according to the American Farm Bureau Federation.

It also could snarl exports from East Coast ports and create traffic jams at ports on the West Coast, where workers are represented by a different union. Railroads say they can ramp up to carry more freight from the West Coast, but analysts say they can’t move enough to make up for the closed Eastern ports.

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Containers are moved at the Port of New York and New Jersey in Elizabeth, N.J., on June 30, 2021. (AP Photo/Seth Wenig, File)

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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 operations resume.

Retailers, auto parts suppliers and produce importers had hoped for a settlement or that President Joe Biden would intervene and end the strike using the Taft-Hartley Act, which allows him to seek an 80-day cooling off period.

But during an exchange with reporters on Sunday, Biden, who has worked to court union votes for Democrats, said “no” when asked if he planned to intervene in the potential work stoppage.

A White House official said Monday that at Biden’s direction, the administration has been in regular communication with the ILA and the alliance to keep the negotiations moving forward.

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Krisher in reported from Detroit. Associated Press journalists Ben Finley in Norfolk, Virginia, Mae Anderson and Wyatte Grantham-Philips in New York, Dee-Ann Durbin in Detroit, Josh Boak in Washington, and Annie Mulligan in Houston contributed to this report.

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Adani's Bribery Scandal Raises Concern on Market, Public Disclosure Lapses

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Adani's Bribery Scandal Raises Concern on Market, Public Disclosure Lapses
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – In March, Adani Group’s head of corporate finance wrote an email to one of its lenders, calling as “baseless” a media report on the group’s alleged bribery investigation in the United States. That email was also marked to top finance executive …
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A look inside the most expensive house in the world — the home of the UK’s monarch

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A look inside the most expensive house in the world — the home of the UK’s monarch

The world’s most expensive house is located in London, England.

Buckingham Palace, the official London residence of the king, is widely considered the most expensive house in the world, valued at around $4.9 billion. 

Buckingham Palace is far from a traditional house with 775 rooms and 50,000 people visiting each year for receptions, dinners, state banquets and other events, according to the royal family website. 

Buckingham Palace is considered the most expensive house in the world.  (Vuk Valcic/SOPA Images/LightRocket via Getty Images I Fox Photos/Getty Images)

ROYAL FAMILY SPOUSES: KATE MIDDLETON, MEGHAN MARKLE, OTHER CURRENT SPOUSES OF ROYAL FAMILY MEMBERS

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This, of course, is outside the half million tourists who visit the destination each year. In 2023-2024, about 530,000 tourists visited Buckingham Palace, according to Statista. 

In addition to viewing the breathtaking palace, visitors often watch the famous Changing of the Guard ceremony.

For those who want a look inside Buckingham Palace, guests can view the state rooms in the summer as well as on select dates in the winter and spring when small guided tours are available, according to the Royal Collection Trust website. 

Changing of the Guard Ceremony

The Changing of the Guard ceremony is one many tourists observe while visiting Buckingham Palace.  (Aaron Chown/PA Images via Getty Images)

OWNER OF WORLD’S LARGEST CAR COLLECTION HAS OVER 7,000 VEHICLES IN HIS POSSESSION

Since 1837, Buckingham Palace has been the official London residence of the United Kingdom’s sovereigns, according to the royal family website. 

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Among the 775 rooms located in Buckingham Palace are 19 state rooms, 52 royal and guest bedrooms, 188 bedrooms for staff, 92 offices and 78 bathrooms, according to the royal family website. 

The royal palace is full of breathtaking places, including the White Drawing Room, the Throne Room, the Ballroom and the 47-meter Picture Gallery filled with historical art. 

Royal family waving from balcony

The royal family waves to the public from the balcony of Buckingham Palace during events.  (Chris Jackson/Getty Images)

SET SAIL ON WORLD’S LARGEST CRUISE SHIP, WHICH CAN ACCOMMODATE OVER 7,000 GUESTS PER VOYAGE

The Grand Staircase and 39-acre Palace Garden are other highlights.

The balcony of the royal palace is where generations of royals have stepped out for public appearances. 

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Another home ranked as one of the most expensive is Antilia in Mumbai, India. 

Antilia holds the Guinness World Record for the “most expensive private house in the world.” 

The mansion is estimated to be worth between $1 billion and $2 billion, according to Architectural Digest India. 

It is owned by business magnate Mukesh Ambani, chairman and managing director of Reliance Industries. 

Antilia in Mumbai

The most expensive private residence is Antilia in Mubai, India, which is owned by Mukesh Ambani.  (Dhiraj Singh/Bloomberg via Getty Images)

 

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The 400,000-square-foot residence is 570 feet tall.

The 27 stories of Antilia include numerous swimming pools, a spa and a theater, according to Guinness World Records. 

The property also includes 168 parking spaces and three helipads. 

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WHO says mpox remains public health emergency of international concern

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WHO says mpox remains public health emergency of international concern

UN health agency says its decision is ‘based on the rising number and continuing geographic spread of cases’.

The World Health Organization (WHO) says it will keep its alert for mpox at the highest level amid a surge in cases.

A WHO committee made up of about a dozen independent experts made the decision at a meeting in Geneva on Friday, three months after the WHO first declared a public health emergency of global concern in August.

The WHO said its decision was “based on the rising number and continuing geographic spread of cases, operational challenges in the field, and the need to mount and sustain a cohesive response across countries and partners”.

There has been a surge in mpox cases this year, predominantly focused in the Democratic Republic of the Congo (DRC) and neighbouring countries.

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A first batch of vaccines was rolled out last month and appears to have had an impact on containing cases of the highly contagious disease, but the United Nations agency has been waiting for substantial proof to discuss the impact of vaccinations.

The African Union’s health watchdog warned at the end of October that the mpox outbreak was still not under control and called for more resources to avoid a pandemic that it said could potentially be worse than COVID-19.

The virus is usually mild, but it can be fatal in rare cases.

Mpox is believed to have killed hundreds of people in the DRC and elsewhere last year as it also spread to Burundi, Kenya, Rwanda, Nigeria and Uganda, causing a continent-wide emergency.

The disease can be spread through close contact with an infected person, sexual activity or breathing in infectious particles. The virus then replicates and spreads to the lymph nodes, leading them to swell before further spreading and causing rashes or lesions.

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