cargo shipA strike by the The International Longshoremen's Association's (ILA), which would begin Sunday, appears very likely. A number of companies that rely on the ports for their inventory have expressed alarm.

Matthew Shay, the president and CEO of the National Retail Federation, recently wrote to several members of Congress and the Obama Administration:

We cannot afford further supply chain disruptions as we enter 2013. The two sides must remain at the negotiating table until a deal is reached. We fully believe the two sides can reach an agreement that will ensure the continued competitiveness of these ports for the foreseeable future.

At this point, however, we believe that a strike will only be averted through immediate intervention by the administration. Allowing a strike to occur for even one day could have a negative impact on all of those downstream businesses and employees who rely on the ports. The U.S. economy cannot afford to wait for a strike to occur before we see administration action. We urge you to get engaged now with these parties to ensure a strike does not occur.

Douglas A. McIntyre


Filed under: 24/7 Wall St. Wire, Industry, Labor & Unions, Retail

Increase your money and finance knowledge from home

Basics of Diversification

Learn one of the fundamental concepts of building a portfolio.

View Course »

Reading a Stock Quote

Learn to read the ingredients of a stock.

View Course »

Add a Comment

*0 / 3000 Character Maximum