Harold Daggett, Port Strike Leader, Seeks Big Raises for Dockworkers

Published On Oct 3, 2024, 9:58 AM

Harold J. Daggett, president of the International Longshoremen’s Association, has initiated a strike that has shut down major ports on the East and Gulf Coasts. The strike is driven by demands for higher wages, better benefits, and restrictions on technology that may reduce jobs. Daggett argues that the union members have significant leverage because their work is essential for various industries, including automakers and retailers. Experts suggest that the union's strategic position may help them negotiate a favorable deal due to the critical nature of their work in the supply chain.

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Stock Forecasts

XPOView XPO chart on TradingView

Positive

The ongoing strike at major ports could lead to significant disruptions in supply chains. Companies relying on timely deliveries may face delays, affecting their stock prices negatively. Conversely, companies involved in logistics and alternative shipping solutions may see an uptick in business during this period.

TGTView TGT chart on TradingView

Negative

Companies heavily reliant on East and Gulf Coast ports, particularly those in retail and manufacturing, may experience a detrimental impact due to port shutdowns, potentially resulting in a negative stock trend.

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