A historic United States port strike has been suspended, according to the International Longshoremen's Association and the U.S. Maritime Alliance.
There's anti-automation language in the Master Contract already.
#5 | POSTED BY TONYROMA
Why would annyone be proud of "antiautomation" or even agree to a "master contract" now? Unless you're weak in the knees, or are getting government kickbacks.
Makes no sense for America to continue to have the worst ports in the world.
x.com
Private equity's role in America's ports
www.axios.com
... America dodged a sledgehammer on Thursday night, when striking stevedores reached a tentative agreement to return to work.
The big picture: It sounds like the White House successfully cajoled the employers into boosting their wage offer, up to a reported 62% raise over six years, but the two sides couldn't come to terms on the future of port automation and semi-automation.
Negotiations will continue while workers are on the dock, with the master agreement extended until Jan. 15, 2025 (when it could become the next president's problem).
Behind the scenes: Private equity wasn't directly at the table, but it was represented.
Most U.S. ports are controlled by quasi-public entities, like port authorities, while the actual cargo terminals are usually owned by private companies.
The largest and oldest of those in the U.S. is Carrix, the parent company of SSA Marine, which is controlled by Blackstone.
Another major marine terminal owner and operator is Maher, which is owned by Australian investment firm Macquarie. ...
So, the wealthy's private equity industry seems to have become a large part of the cargo terminal industry, extracting as much profit as possible. Likely doing to the dock workers what private equity is doing to patients via for-profit healthcare.
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