Business groups call on Biden to intervene in port strike
Michael Lee, founder of Michael Lee Strategy, explains the impact of the port strike on markets and the economy, and reflects on the upcoming vice presidential debate. Major U.S. business groups are calling on President Biden to use legal authority to intervene in a port strike on the East Coast and Mexico's Gulf Coast that […]
FedEx activates contigency plans in light of port strikes
David Nicholas, CEO of Nicholas Wealth Management, explains how the port strike could affect Barney & Co.'s stock market and the broader economy. A longshoremen's union strike that began early Tuesday has affected dozens of U.S. ports and prompted shipping giant FedEx to launch a contingency plan aimed at minimizing shipping disruptions. It became. “We […]
Biden: Striking port workers should see 'meaningful increase' in wages
Hours after tens of thousands of longshoremen were laid off at ports along the East Coast and Gulf of Mexico, President Biden called for a strike to demand higher wages for longshoremen. The United States Maritime Alliance (USMX) and the International Longshoremen's Association (ILA) failed to reach an agreement by a midnight deadline, leading to […]
Biden Confuses Israeli Strikes in Yemen with East Coast Port Strike
President Joe Biden on Sunday confused Israel's offensive against the Houthis in Yemen with the ongoing attack on East Coast ports. After returning from a weekend in Rehoboth Beach, a reporter asked him, “Do you have any comments to make about the strikes in Yemen, Mr. President?” “I've talked to both sides. They have to […]
Cruise ship stranded in Ireland for months returns to port — hours after setting off on world voyage
A luxury liner that was stranded in Northern Ireland for four months finally set off on a global voyage, but was forced to return to port almost immediately on Tuesday. Villa Vie Residence's Odyssey was due to leave Belfast in May before it suffered repair problems, but it set sail on a three-year journey late […]
Port strike: West Coast port CEO confident facility can handle increased capacity
Greg Dowd, CEO of the National Milk Producers Federation, speaks on “The Bottom Line” about the impact a port strike could have on various industries and the economy. The CEO of the Port of Long Beach is confident Southern California will be able to handle the increase in cargo caused by the longshoremen's strike at […]
Port Workers Prepare to Strike as Deadline Looms Closer
Thousands of workers at more than a dozen ports across the country are preparing to strike as the deadline for an agreement between the union and the United States Maritime Alliance (USMX) approaches. International Longshoremen's Association (ILA) longshoremen at about 14 ports along the East Coast and Gulf of Mexico will go on strike starting […]
Port workers strike for first time in nearly 50 years
Tens of thousands of longshoremen at ports along the East Coast and Gulf of Mexico went on strike just after midnight, the first strike by a longshoremen union in nearly 50 years. Workers from Maine to Texas walked off the job after the United States Maritime Union (USMX) and the International Longshoremen's Association (ILA) failed […]
Port strike looms
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‘Haven’t Been Particularly Involved’ on Port Strike that ‘Could Be Incredibly Disruptive to Commerce’
Commerce Secretary Gina Raimondo, appearing in her personal capacity on behalf of the Harris campaign on CNBC's “Squawk Box” on Monday, said a potential port attack could have the biggest impact. He said there was “not a lot of focus” on location. She is not “particularly involved” in the strike issue, which she acknowledged “has […]