In one of the biggest stories you haven't heard anything about, unions that control the port activities all up and down the west coast have been engaged in a months long work slowdown. Despite average salaries over $145,000 and some of the most generous healthcare benefits in America (better than Congress) the International Longshore and Warehouse Union wants more. Ironically, much of what they want is immunity from Obamacare impacts on their health benefits.
After months of coordinated work slowdowns, the Pacific Maritime Association shut down operations this weekend, and the potential for a full shutdown is now very real. Estimates of the impact of a shutdown are over $1 billion in lost income per day, not to mention higher costs passed on to every retailer that relies on good imported from Asia.