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2 things investors should watch for amid port strike 

Yahoo Finance
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#stockmarket #port #portstrike #portworkers #yahoofinance
The International Longshoremen's Association (ILA) failed to reach a new labor contract agreement with the United States Maritime Alliance (USMX) prompting about 45,000 US dockworkers to go on strike. The work stoppage is affecting operations at 36 ports along the East and Gulf Coasts, from Maine to Texas.
Port of Los Angeles Executive Director Gene Seroka joins Wealth! to share his perspective on this development.
Seroka acknowledges that the economic landscape has shifted since the ILA's last contract signing, emphasizing that "these workers deserve to get paid" and receive improved job security. He anticipates the strike will bring "a little more activity" to the contract negotiation talks, which had seemingly quieted in recent months. However, Seroka points out that ongoing shipping disruptions in the Red Sea and Panama Canal had already made getting goods to the East Coast "questionable," so many were prepared for potential port-related issues to become "much more pronounced."
In light of this labor dispute, Seroka highlights two key considerations: First, "there's not going to be an immediate impact to the economy." Second, he notes that if the strike persists, there will be significant focus on port and traffic congestion. Seroka explains, "For every day out of the job it probably takes about a week to clean up that backlog but it is manageable."
For more expert insight and the latest market action, click here to watch this full episode of Wealth!
This post was written by Angel Smith
Yahoo Finance: Market Coverage, Stocks, & Business News
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6 окт 2024

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Комментарии : 68   
@bungeebones
@bungeebones 5 дней назад
I see a number of newscasters coming out against the longshoreman's fight against automation. All they do is read from a teleprompter. They can easily be replaced by Sophia.
@elliottbaker201
@elliottbaker201 5 дней назад
@@bungeebones and then bums at the dock can be replaced too
@TStizzle19
@TStizzle19 4 дня назад
@@elliottbaker201 respectfully, those are skilled workers putting their safety on the line a lot of the time. Hard to call them bums, or replaceable in my opinion, even if you don't agree with the strike
@elliottbaker201
@elliottbaker201 3 дня назад
@@TStizzle19 I'll scab right now, since they want to bum
@ranma1507
@ranma1507 5 дней назад
Longshoremen fighting against automation is a losing battle. Ports around the world use automatic loaders and cranes to improve productivity. The true wage growth comes from productivity increase, not coming from labor union monopoly.
@JerryJohanan
@JerryJohanan 5 дней назад
I don't understand the reason why they are so upset about losing their jobs. They can do like what President Joe Biden told the oil industry. People go start making solar panels and windmills.
@EJDPPOPMedia
@EJDPPOPMedia 5 дней назад
I’m a teacher and they make way more than me. I think I need to change careers.
@InsightsAbroad
@InsightsAbroad 5 дней назад
Yup. I left teaching 20 years ago. EVERYONE makes more than teachers
@kaylamorse769
@kaylamorse769 5 дней назад
They are being paid and quite well at $81k a year plus benefits. I don't see how your going to make companies give more. It seems counter intuitive. Machines don't strike or need pay, just saying.
@dank9288639
@dank9288639 5 дней назад
they make so much more bc of OT. Like 100k plus. With this raise they'd be making like. 200k
@michaelal20
@michaelal20 5 дней назад
@@kaylamorse769 they deserve a raise, cost of living is up, grocery prices skyrocketing, also automation is replacing them. They are fighting for their right to earn what they deserve and to keep employment after all the time they sacrifice away from their families. Imagine giving a company 10 20 plus years of your labor and being dumped for robotics to do your job.
@kaylamorse769
@kaylamorse769 5 дней назад
@dank9288639 yes! 81 is just base pay. There are so many people in this country working 2 or 3 jobs and still can't make ends meet. Seems to me the port workers should realize a good thing when they have it and to not be a pawn in the unions game
@iverson721
@iverson721 5 дней назад
If your in there position I doubt you’d be turning anything down
@JamesWright-z4q
@JamesWright-z4q 5 дней назад
@@kaylamorse769 I have no idea where your people pull your numbers from well where you have gathered your research from the average dock worker up and down the Eastern seaboard makes 147,000 a year with all of the perks that they get their base pay starts at around 72,000 a year then they receive roughly 26,000 a year and what is called container pay this money is to offset something that happened almost 48 years ago with the Advent of containers they demanded because the containers eliminated almost 50% of their workforce so the demanded and received container pay then with overtime nine dollars an hour going into their health and welfare and vacation funds the average stock workers pulling down around $147,000 a year I know this because my father work for the Ila for 47 years do you realize that that rate of pay that is 37% more did the average college graduate with a bachelor's degree makes and that is 50% more then the average college graduate with an associate's degree can you imagine going into your bosses office tomorrow demanding an 80% increase in your payhas he gets up off the floor laughing so hard because he fell out of his chair he would say let me help you to the door you have a leader of a very small Union and when it comes to unions they only have 62,000 members the Auto workers have over 3 million the teamsters over 5 million United mine workers 3.7 million so we have a small Union with one man that has no degrees of any kind a 12th grade education is what the president of the longshoreman association has and if you listen to him speak at no time does he say we are going to shut this country down he shakes his fist and says I'm going to shut this country down this man is delusional he believes he can walk on water if the American people idly said by and do nothing they think covid was bad this will be 10 times worse because this is not hitting the whole world it's only affecting one nation and all of those products that are sitting out in the the harbors will be diverted to other countries right now as we speak there are nine ships that have turned around heading to Cuba to be unloaded with all types of supplies with food medications life-saving medical devices and so on our president sleepy Joe is going to sit by and do nothing he does not care that this will destroy our country today alone the first day of the strike has cost the United States roughly 93 billion dollars lost in revenue alone and now that is not including the merchandise that is just setting off in the harbors waiting to be unloaded and reloaded let me give everyone one bit of information before covid I can ship a 48-ft container from China what's 48,000 lb of product in it for the cost of a round 2,800 well because of limited space and limited voyages during covid the brokers of this country well now that we have limited space we could charge whatever we want so that 2800 became roughly 17,000 per container that is almost 60% of the cost of groceries rising now with this strike there would be limited space a limited deliveries to this country so when the strike is over with the brokers will be able to demand twice as much money again so that pound of ground beef that you're buying for 5 dollars per pound if this strike last more than 3 weeks will cost you approximately $11 per pound the common man or woman in the United States cannot fathom what it takes to feed a nation 72% of our meat products come from other countries mostly from Japan Australia in other countries the United States could not begin to supply enough meat products to feed this nation of 333 million people so I am begging I am pleading with every person in this country to demand a congress come back into session and put a stop to the small Union and to their delusional president
@StarDust-vm1qs
@StarDust-vm1qs 5 дней назад
In this new technological era, we are living in, these jobs will transition to automation in the near future - Just a matter of time.
@hammerandthewrench7924
@hammerandthewrench7924 5 дней назад
Workers: Want a raise complaining job is dangerous. Automation helps save lives and make for a safer work environment. Also workers: We don't want automation. These people make over 80K a year, that's more than the average american salary get a grip
@Teddy13257
@Teddy13257 5 дней назад
Omg they were offered a 50% increase raise wage salary. I guess they werent happy with that. Thats just selfishness to me. I'll work, no problem with me with 100k a year
@southeastdave8048
@southeastdave8048 6 дней назад
Hopefully unemployment for these union members
@deirdrehastings5683
@deirdrehastings5683 5 дней назад
@southeastdave8048 you can not get unemployment if you go on strike. You are electing not to go to work.
@bps7209
@bps7209 5 дней назад
Unemployment for refusing to go to work?🤔🤦‍♂️😂😂😂
@Mindcoach1on1
@Mindcoach1on1 5 дней назад
And just for everybody that’s upset. Everything is done with business strategies. They wouldn’t have done this during the summer because it wouldn’t have made sense they’re doing it now because there is a need in a necessity for items coming in before the holidays so this is their way of saying hey we got you right where we want you because you need us. So this is strategyso they can get what they want or something of that nature.
@SnapWrench3s
@SnapWrench3s 5 дней назад
@@Mindcoach1on1 bingo
@elliottbaker201
@elliottbaker201 5 дней назад
And hurricane victims. This won't end well for the mob, er, I mean union
@davidsigwart7842
@davidsigwart7842 5 дней назад
Mass unemployment like Reagan did with the air controllers. All of them gone. Break the union hold on this country.
@bps7209
@bps7209 5 дней назад
Just for those who refused to work. It worked out well and needs to happen once again.
@user-ie2un6jg2g
@user-ie2un6jg2g 5 дней назад
lol they can try , to bad won’t work cry some more 😢
@felipenunez2058
@felipenunez2058 5 дней назад
Except the controllers were government paid employees and this dock workers are not.
@bps7209
@bps7209 5 дней назад
@@felipenunez2058 military would replace them and no one can do a better job than our military logistically speaking. Just until they replaced the greedy workers.
@felipenunez2058
@felipenunez2058 5 дней назад
@@bps7209 I'm fine with it if the dock owners pay for the labor and not the tax payer.
@stevensims6175
@stevensims6175 5 дней назад
How many people on unemployment? We don't need unions
@TCTALKSTCFITNESS
@TCTALKSTCFITNESS 5 дней назад
Everyone INVESTING HOLD LONGTERM ! This toooo shall pass
@alexlopez5800
@alexlopez5800 5 дней назад
This isn’t the only problem in the country. This will only get worse by the day
@M.J.212
@M.J.212 5 дней назад
ILA President Daggett enjoys a long relationship with Donald Trump going back decades in New York City. Both Trump and Daggett are the same age and were both from Queens, New York. In late November 2023, former President Trump invited the ILA president to meet with him in Florida at Mar-a-Lago, “We had a wonderful, productive 90-minute meeting where I expressed to President Trump the threat of automation to American workers,” said ILA President Harold Daggett. “President Trump promised to support the ILA in its opposition to automated terminals in the U.S. Mr. Trump also listened to my concerns about Federal “Right To Work” laws which undermines unions and their ability to represent and fight for its membership.”
@darrylzeh6454
@darrylzeh6454 5 дней назад
It's time America comes before unions. If you can't make it 100,000 then step aside and let real workers come in. Problem solved. I would like to have a 70 percent raise too but I would rather America would not be harmed. But I'm a republican we put country first . If Reagan was in office you would be back at work today. Or gone. We need a real leader in this country
@Joe-ey7fg
@Joe-ey7fg 5 дней назад
Ultimately robots will take over. It's just a matter of time
@HieouyaAgnèsDoyo
@HieouyaAgnèsDoyo 5 дней назад
!!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated.
@SandrineKouassir
@SandrineKouassir 5 дней назад
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
@SonyaYeva
@SonyaYeva 5 дней назад
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
@SandrineKouassir
@SandrineKouassir 5 дней назад
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
@SonyaYeva
@SonyaYeva 5 дней назад
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.
@HieouyaAgnèsDoyo
@HieouyaAgnèsDoyo 5 дней назад
nice! once you hit a big milestone, the next comes easier. How can i reach her if you don't mind me asking?
@Bill-wz6tw
@Bill-wz6tw 5 дней назад
I have worked in non-union logistics warehouse and shipping positions myself and you get a job then the work load just keeps increasing and increasing without them hiring any more help or paying you any more money they just make you work longer hours and your taxes eat up any benefits of the overtime hours. It is disgusting
@alouie001
@alouie001 5 дней назад
So invest in commodities, gold, investable credit, air freight, and rail.
@CoryAlphin
@CoryAlphin 5 дней назад
Then after they raise their wages the prices of all goods will go up accordingly, thus negating all raises! 🤔
@Benjamin.b4
@Benjamin.b4 5 дней назад
Money doesn’t grow overnight, but with the right investments, it can grow exponentially over time.
@MaChun-ping
@MaChun-ping 5 дней назад
Time in the market is one of the biggest factors in growing wealth through investments.
@ЗеновіяПриймак
@ЗеновіяПриймак 5 дней назад
My financial advisor has been a game-changer, providing clarity and boosting my confidence in navigating finance. With their help, I've achieved my goals faster than I imagined. Highly recommend!
@FrankEwards
@FrankEwards 5 дней назад
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
@ЗеновіяПриймак
@ЗеновіяПриймак 5 дней назад
Nicole Anastasia Plumlee is the licensed advisor I trust. Just look up her name, and you’ll find the details to set up an appointment.
@FrankEwards
@FrankEwards 5 дней назад
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
@KTMr-sw7iz
@KTMr-sw7iz 5 дней назад
Go back to work or be replaced with people who want to work
@SnapWrench3s
@SnapWrench3s 4 дня назад
Union boss is there talking about automation
@Zegeebwah
@Zegeebwah 6 дней назад
They go on strike, and you say, ‘That’s OK, you’re all gone. You’re all gone. So, every one of you is gone.’ - Donald Trump
@jamesonhills266
@jamesonhills266 5 дней назад
empty store shelves is not the answer here for america👎 at least try to detour those goods in from somewhere east coast or gulf doesnt want to do it🤷 at least get the west coast doing business and commercialize it grocery stores can still get their food that way at least re-route it america cannot afford another pandemic episode it just can't👎
@Bill-wz6tw
@Bill-wz6tw 5 дней назад
Robotics need to repaired and maintained
@user-i-dot
@user-i-dot 5 дней назад
we have new workers waiting at the border, Democrat dog pile.
@jasonrenzoni408
@jasonrenzoni408 5 дней назад
Fire them all. Unions need to be banned. Axcept what your employer pays you or seek employment elsewhere. Get your asses back to work, lucky you have a job
@tizo86
@tizo86 5 дней назад
😂😂😂😂😂
@joshh2924
@joshh2924 5 дней назад
Yall need to look for new safe jobs No use of destroying the people
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