• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Major maritime strike could threaten ports across the East Coast
Editor's Pick

Major maritime strike could threaten ports across the East Coast

by September 21, 2024
by September 21, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

A major strike is on the horizon for thousands of maritime workers, posing a threat to East Coast ports responsible for billions of dollars of goods. 

The International Longshoremen’s Association (ILA), the largest union of maritime workers in North America, has vocalized plans to go on strike at all of its Atlantic and Gulf Coast ports Oct. 1 if a new contract agreement can’t be reached with the United States Maritime Alliance (USMX). The union is arguing for better wages and continued protections against automation and new technology in its terminals.

“A sleeping giant is ready to roar on Tuesday, October 1, 2024, if a new Master Contract Agreement is not in place,” ILA President Harold J. Daggett said in a statement Monday.  “My members have been preparing for over a year for that possibility of a strike.”

According to a statement from USMX, negotiations with the ILA began in the last week of May. Now, the union’s current six-year contract is less than two weeks away from expiring.

The Port Authority of New York and New Jersey told NBC News that while it is not at the table for the ILA-USMX negotiations, the agency is “closely monitoring developments and remain hopeful.” 

“For the over 600,000 regional jobs our port supports and the $240 billion in goods moved through here each year, we urge both sides to find common ground and keep the cargo flowing for the good of the national economy,” Steve Burns, a spokesperson for the Port Authority, added in a statement. 

The ILA has argued that the USMX is denying workers fair contracts with adequate wage raises and proper benefits. 

“USMX claims to offer industry-leading wages, however, their interpretation of ‘leading wages’ is polar opposite to ours,” a statement from the ILA on Monday said. 

“Our members are struggling to pay their mortgages and rent, car payments, groceries, utility bills, taxes, and in some cases, their children’s education. USMX’s corporate greed has made them delusional — profits over people. They have taken advantage of a low entry-wage and a tiered progression system for thirty years,” the statement continued. 

The union said its rank-and-file members will no longer accept contracts that include small wage increases of a dollar or less. It argued further that for more than three decades, ILA workers only saw annual wage increases of 2.02% per year on average — with some years having wage raise percentages of zero, according to the ILA statement. 

USMX declined to comment on any of the specifics of the current or past contracts. 

“Since USMX would rather leak our wage demands to the media, instead of reporting on the record billion-dollar profits of their member companies, I can say ‘yes, we are looking for a much higher percent increase in our wages,’” Daggett said in a statement. 

According to a Sept. 5 statement from USMX, the current offer to the union includes “industry leading wage increases,” and a retention of the existing technology language in the current agreement, which the alliance argues already formalizes that there will be no fully-automated terminals and no implementation of semi-automated equipment without agreement by both parties. It also boasts higher starting wages, health care coverage and increases to employer retirement contributions. 

USMX has released several statements since the initial bargaining meeting in late May, stating that the agency is committed to having negotiations with the ILA. 

“We have tremendous respect for the ILA and its members, but it is disappointing that we have reached this point where the ILA is unwilling to reopen dialogue unless all of its demands are met,” said the USMX’s most recent statement on Monday. “The only way to resolve this impasse is to resume negotiations, which we are willing to do at any time.” 

However, the ILA has said repeatedly that the USMX’s statements are “propaganda,” and “designed to mislead and divide” the union. 

According to negotiation updates from USMX, the ILA has not returned to the bargaining table since mid-July. In all of its updates since July 18, USMX has maintained that the union refuses to return to negotiations.

The ILA did not respond to a request for comment on the USMX’s stance that the union won’t meet to reopen negotiations.

The ILA and USMX will need to agree upon a new master contract by Oct. 1, before the current six-year contract expires and the ILA pledges to go on strike.

This post appeared first on NBC NEWS
You Might Also Like
  • Coca-Cola takes on Olipop and Poppi with new prebiotic soda brand, Simply Pop
  • Stanley tumbler ‘quenchers’ maker is being sued over lead claims
  • Employers added 206,000 jobs in June, as sturdy labor market gradually cools
  • Toyota recalling 1.12 million vehicles over potential air bag issue
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Bullish or Bearish? The Truth About Rate Cuts and Stock Performance
next post
EARN Stock Price Forecast: Is It Worth Buying?

You may also like

UnitedHealth CEO says U.S. health system ‘needs to function better’

January 17, 2025

Starbucks unveils plan to add 17,000 locations by 2030

November 4, 2023

Federal Reserve official says more U.S. rate hikes likely will...

August 9, 2023

MediaTek and Skylo Collaborate on Next-Gen 3GPP NTN Satellite Solutions...

February 14, 2023

Americans got stingier after a pandemic surge in giving, but...

June 29, 2023

Top 3 benefits of IoT for healthcare providers

December 13, 2022

Chick-fil-A is releasing its own entertainment app, with family-friendly shows...

October 21, 2024

JetBlue and Spirit Airlines terminate $3.8 billion merger

March 5, 2024

Home foreclosures are rising nationwide, with Florida, California and Texas...

June 12, 2023

UAW strike begins at Mercedes-Benz supplier in Alabama as Detroit’s...

September 24, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    McDonald’s is the latest company to...

    January 7, 2025

    Key IoT security trends for 2023

    December 21, 2022

    Trump Media jumps more than 9%...

    April 25, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here