Port strike and cruise lines: Will operations be disrupted?
Carnival CEO Josh Weinstein talks about Caribbean hurricane season on “Craman Countdown.” The state of cruise operations came into focus Tuesday after unionized longshoremen stormed picket lines at ports along the East and Gulf Coasts. Cargo traffic has been disrupted at many major ports since the International Longshoremen's Association (ILA) strike began, but the union […]
Port strike could impact oil and gas industry, experts say
Tim Ryan, owner of Square 1 Farmers, and his son, Tim Ryan Jr., vice president of sales, discuss their company's preparations for supply chain issues ahead of the port strike and discuss the impact on businesses and consumers. Let's discuss. The longshoremen's union strike that began early Tuesday and affected dozens of U.S. ports is […]
Five things to know about the port strike
Longshoremen and longshoremen at East Coast ports are currently striking in a major labor action with real implications for the U.S. and international economy. Thousands of members of the International Longshoremen's Association (ILA) stopped working on Tuesday, demanding huge pay increases and cuts from automation after the shipping companies that employ them have posted record […]
Who is Harold Daggett, the port union boss with alleged Mafia ties?
Harold Daggett, a passionate labor union boss, has long stood as a staunch defender of blue-collar workers, even though he owns a yacht and drives a Bentley, leading a lavish lifestyle. I've been fighting. Daggett, 78, wearing a polo shirt with a thick gold medallion around his neck and leading the longshoremen's strike from Maine […]
Port strike to rock economy, Main Street
SMBC Chief Economist Joe LaBonna spoke on “The Big Money Show” about the impact of extended port closures. More than 45,000 longshoremen are on strike across the East Coast. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), which represents port employers, are at an impasse in negotiations over the union's demands […]
Port strike: Your daily life is about to get much more expensive
Imagine waking up in the morning, drinking your morning coffee, scrolling through your newsfeed, and seeing the headline, “U.S. longshoremen begin nationwide strike.” It's easy to dismiss that. Longshoremen and docks seem like a distant story, right? On the contrary, this strike will cost you in the most personal way possible: your wallet, your daily […]
How the port strike threatens the US banana supply
Attacks on ports along the East Coast and Gulf of Mexico could threaten the supply of bananas to Americans. According to the American Farm Federation, three-quarters of the country's bananas (more than 3.8 million tons) each year pass through ports managed by the International Longshoremen's Association (ILA). In 2023, approximately 27% of U.S. banana imports […]
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 […]