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One week ago, when previewing what may be the first lockout of the West Coast Ports since 2002, we cited the Retail Industry Leaders Association who, realizing that failure to reach an agreement between the dockworker union and their bosses, the Pacific Maritime Association representing port management would lead to devastating consequences for the US retail industry, had several very damning soundbites:
"a work slowdown during contract negotiations over the past seven months has already created logistic nightmares for American exporters, manufacturers and retailers dependent on an efficient supply chain. A complete shutdown would be catastrophic, with hundreds of thousands of jobs at risk if America’s supply chain grinds to a halt."
"A west coast port shutdown would be an economic disaster."
"A shutdown would not only impact the hundreds of thousands of jobs working directly in America’s transportation supply chain, but the reality is the entire economy would be impacted as exports sit on docks and imports sit in the harbor waiting for manufacturers to build products and retailers to stock shelves."
And the punchline: "The slowdown is already making life difficult, but a shutdown could derail the economy completely."
Just so readers have a sense of what is at stake, this is what the average dockworker makes: $147,000 a year in salary, plus $35,000 a year in employer-paid health care and an annual pension of $80,000 (according to an association press release). It is the overtime compensation to the total shown here, which grosses to over a quarter of a million dollars, that dockworkers are negotiating to raise or else the key US supply-chains gets it.
originally posted by: Nyiah
Other small coastal ports would mess themselves to have just a handful of those ships docking to offload, it would be a boom for them. It's not the end of the US economy, other ports will pick up the business, you watch. Take Florida for example. I bet places like the Port of Tampa, Jacksonville Port, etc would end up with a nice little boom for imports & distribution.
originally posted by: ATF1886
Please i make 50k a year ill take half thier pay and not complain i work 80hrs a week please those guys have no idea how blessed they are!!!a reply to: arjunanda