Longshoreman Negotiation Update 10-4-24

The Longshoremen are returning to work. The US supply chain is restored for now 

The 62% increase in pay is the result of “Management” agreeing move pay closer to the Union demand.  62% x $39/hr. is $24.18.  $39+$24.18 = $63.18. The Union agreed to raising the rate by $4.836/yr.

The initial demand by the Union was to raise pay by $5/hr. over the next 6 years or 77%. This would have resulted in the Rate moving to $69/hr.  $39 + $30 = $69.   

This agreement settles wages and gives time to work out the Automation issue for a final vote in January 2025.

Several countries have port operating corporations in the United States, including: 

Singapore: The government of Singapore owns most of a company that operates terminals in Los Angeles, Oakland, Seattle, and Dutch Harbor, Alaska. 

China: Chinese government-owned companies manage terminals in New York, Long Beach, and other West Coast ports, as well as both ends of the Panama Canal. 

Venezuela: The government of Venezuela owns all or part of marine terminal management at ports in Pennsylvania and Maine. 

France: CMA CGM, a French container shipping company, bought two container terminals at the Port of New York and New Jersey. 

Foreign involvement in U.S. port terminal operations is due to globalization, as the largest shipping lines extend their services around the world. 

Port governance involves foreign corporations who follow the technology and political entities in countries where the Ports operate. These foreign companies are identified by country.

https://www.google.com/search?q=what+countries+have+port+operating+corporations 

The current structures for ownership are being discussed in the article below.

https://porteconomicsmanagement.org/pemp/contents/part4/port-reform-and-governance/

Comments

Trump would attempt to re-shore US manufacturing. If he is elected, he would lower the US corporate tax from 21% to 15% to allow companies to bring manufacturing back to the US. He would return to the strategy of producing what we consume. This will reduce the need to buy foreign-made goods. This requires that Republicans take the Senate and keep the House Republican majorities.  

Norb Leahy, Dunwoody GA Tea Party Leader