US East Coast ports union meets over wage demand, preps for possible strike [Yahoo! Finance]
A.P MOLLER-MRS UNS/ADR (AMKBY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
container ports from Texas to Maine, will begin two days of meetings on Wednesday to review wage demands and prepare for a potential strike on Oct. 1. Formal talks have reached an impasse as the union and the United States Maritime Alliance employer group wrangle over pay, automation, healthcare and retirement benefits. A source familiar with the negotiations said the ILA has asked for a 77% pay bump over the life of the new contract. Three experts told Reuters the final increase would likely improve on the 32% rise the West Coast longshore union negotiated last year. ILA International President Harold Daggett has warned that union workers will walk off the job if a new labor agreement is not reached before the current six-year contract expires on Sept. 30. USMX said in statements it has been trying to set a meeting with ILA to resume talks. Any work slowdown or stoppage would affect key ports - including New York/New Jersey, Houston and Charleston, South Carolina - backing
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