East Coast businesses are bracing for a possible walkout of 14,500 workers that could close 14 ports from Massachusetts to Texas.
The latest talks between shipping companies and dockworkers broke down Tuesday. The contract expires Dec. 29. The National Retail Federation wrote to President Barack Obama this week to ask him to use “all means necessary” to head off a strike. A key sticking point is royalty payments union workers get, based on the weight of cargo received at each port. The container carriers and port operators want to cap the payments, saying they’re too large and hurting competitiveness. The union says they’re an important supplemental wage and fund critical benefits.
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