iBankCoin
Joined Nov 11, 2007
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Three Cheers: CA Port Workers Reach an Agreement

“Clerical workers at the ports of Los Angeles and Long Beach, the largest U.S. port complex, agreed to end an eight-day strike that affected about $1 billion of trade a day.

Workers and management reached a tentative agreement on a new contract, according to astatement late yesterday on the website of the International Longshore & Warehouse Union. The deal came after talks were held with federal mediators.

The strike cost the local economy “billions of dollars,” Los Angeles Mayor Antonio R. Villaraigosa said in a separate statement. The two ports, which together handle about a third of U.S. container imports, shuttered 10 of 14 cargo-box terminals, stranding shipments of toys, furniture and clothes in the run-up to the holiday period.

“We must waste no time in getting the nation’s busiest port complex’s operations back up to speed,” Villaraigosa said.”

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