from Silver Vigilante:
A strike is set to close down eastern and southern ports come Sunday should no agreement be reached by 12:01 a.m. that morning. With all major US ports along the East Coast and Texas likely to shut down Sunday if a dock worker’s union fails to agree to a contract, President Obama could invoke the Taft-Hartley act so as to ensure mediation via the federal government. Already on Wednesday, traffic backed up at Port Newark as shipping companies anticipated a strike by East Coast longshoremen. From Massachusetts to Texas, the strike could cripple the coast for the first time since a two month walkout in 1977, halting the flow of tens of billions of dollars of imports. The last time the ports shut down was in 2002, the economy lost $1 billion a day and it took six months for the supply chain to catch up, according to the National Retail Federation.
This on the heels a west coast strike that shutdown ports in LA. After an emergency Christmas meeting, Port managers told the Post they believe there will be no last minute agreement to stave off a major strike of dock-workers.
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