by Bill McBride on 11/11/2014 06:29:00 PM
Tuesday, November 11, 2014
From the LA Times: West Coast port slowdown raises fears of dockworker strike or lockout
A six-year agreement covering nearly 20,000 dockworkers at 29 West Coast ports expired July 1. The sides have been negotiating since May. In 2002, amid talks for a previous contract, employers accused the union of go-slow tactics, then locked out dockworkers for 10 days, shutting down ports along the West Coast.Most of the holiday related goods have already arrived, but a shutdown could have a short term impact on the economy.
Some businesses are worried that ports could be shut down again. ... During a shutdown ... some workers — including 20,000 dockworkers — would sit idle and not collect a paycheck.
• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
• At 7:30 AM, the NFIB Small Business Optimism Index for October.
• At 10:00 AM, the Monthly Wholesale Trade: Sales and Inventories for September. The consensus is for a 0.2% increase in inventories.
Posted by Bill McBride on 11/11/2014 06:29:00 PM