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Dockworkers Reportedly Reach Deal Following US Labor Secretary Threat

Tyler Durden's picture




 

Following threats from the US labor secretary "that they have until Friday to reach a contract or they’ll have to negotiate in Washington D.C.," Dockworkers and their bosses, according to JOC.com, have reached an agreement (despite Reuters reports that no deal was reached last night).

As Reuters reports, no deal was reached last night...

Shipping executives and union leaders for dockworkers at 29 West Coast ports ended a third straight day of contract talks late on Thursday without a settlement, despite arm-twisting from the U.S. labor secretary, but planned to meet again on Friday.

 

Labor Secretary Tom Perez joined the talks in San Francisco on Tuesday at the behest of President Barack Obama, who has come under growing political pressure to intervene in a dispute that has rippled through the trans-Pacific commercial supply chain and could cost the U.S. economy billions of dollars.

 

The International Longshore and Warehouse Union, representing 20,000 dockworkers, has been locked in negotiations for nine months with the bargaining agent for shippers and terminal operators, the Pacific Maritime Association (PMA).

Despite threats from the government...

The U.S. Labor Secretary on Thursday told the International Longshore and Warehouse Union and the Pacific Maritime Association that they have until Friday to reach a contract or they’ll have to negotiate in Washington D.C.

But now, as JOC.com reports,

  • *PMA, ILWU SAID TO HAVE REACHED A CONTRACT YDAY: JOC.COM

West Coast dockworkers, employers reached 5-yr agreement last night, JOC.com reports, citing unidentified people familiar with internal reports by a “major forwarder.”

However...

 

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Fri, 02/20/2015 - 11:25 | 5807867 IronShield
IronShield's picture

Get yer Rally Caps!

Fri, 02/20/2015 - 11:35 | 5807909 Thirst Mutilator
Thirst Mutilator's picture

Yeah, they're MADE IN CHINA, and will now be fully stocked on the Wally shelves if you can get past the 400 lb hippo in front of you who is buying it with a SNAP card claiming it's an edible foodstuff.

Fri, 02/20/2015 - 11:46 | 5807957 glenlloyd
glenlloyd's picture

Correction - hippo on a scooter

Fri, 02/20/2015 - 11:53 | 5807993 Thirst Mutilator
Thirst Mutilator's picture

Sorry! I missed that because a fight broke out in aisle 10 while I was typing.

Fri, 02/20/2015 - 11:55 | 5808007 HardlyZero
HardlyZero's picture

Did the Dockworkers Union bend a knee ?  how ?

Fri, 02/20/2015 - 11:27 | 5807875 dimwitted economist
dimwitted economist's picture

China needs to Unload their Shit... HURRY!!!!

Fri, 02/20/2015 - 11:57 | 5808022 HardlyZero
HardlyZero's picture

Yesterday I heard the California Citrus was not being shipped to China any more (one of their largest destinations) because it was taking 40 days delivery dock to dock, vs. 20 days maximum requirement.

 

Half of US produce is grown in California, and citrus being a large part.

Fri, 02/20/2015 - 12:35 | 5808175 tarsubil
tarsubil's picture

Can't wait for some deals on limes and lemons.

Fri, 02/20/2015 - 12:45 | 5808206 plane jain
plane jain's picture

Been getting some awesome California mandarin oranges at Aldi. We are on our second bag. My daughter ate 5 the first day and she usually doesn't eat much produce.

Fri, 02/20/2015 - 13:20 | 5808334 carbonmutant
carbonmutant's picture

You mean Cuties?... those are great

Fri, 02/20/2015 - 14:15 | 5808572 Tall Tom
Tall Tom's picture

I have commissioned the fabrication of a Forced Air and Propane Fueled forge/furnace for melting metals. This requires that I have crucibles. Well we decided upon Iron Crucibles. These are to be fabricated from 4" diameter, by 8" long threaded Pipe Nipples with caps.

 

So I went to the warehouses in the San Diego area, yesterday, to acquire these. There were a totsl of three Caps and three nipples in two different stores in the entire county. The cost for this forged iron was $180. Furthermore it took an hour's time to make the trip to get them with the costs of the Gasoline burned. These parts were Made in China.

 

It is too bad if someone else needs to fabricate a sewer cleanout as Current Construction Code REQUIRES that Iron is used. That unfinished house will sit and the crew will be idle...

 

In fact the people at the warehouse told me directly, without my questions, that parts were sitting out in Long Beach, or in ships in the channel, and people here cannot finish projects due to lack of material.

 

So America has developed into another "Banana Republic", exporting Citrus Fruit, and nothing much else of industrial value? We depend upon Chinese factories to ship us ironworks. That is the reason that the Longshoreman have leverage and a slowdown cripples and shreds that which is left of our hollowed out economy.

 

Yet so many people here want to talk about the fat slob at Wallyworld buying plastic crap that fills up landfills instead of the utter collapse of our industrial production capacity.

 

It just is demonstrative that even the typical reader on Zerohedge has no clue as to the MAGNITUDE of the Economic Destruction that has been heaped upon America by these multinational criminal oligarchs.

 

Shifting production from America to the Third World has been a total policy disaster for America. H Ross Perot was correct. America has been transformed into a Banana Republic, an agricultural exporter. Without the illegal alien tending to our crops, harvesting the crops, there would be no production at all..

 

Fruits? You want to write about fucking oranges? WHO IS PAYING YOU?

 

Just in time? No. We are way past time. We have run out.

 

So I am so impressed by the shallowness of dialoge here that I will leave you to contemplate the crap that you read here.

 

What the hell? Hey. Did you see fatso run into those cans at the Wallyworld yesterday on his scooter which was made in China? Man that was hillarious. It was better than watching DWTS as it was live.

 

This is much better and distracting. And besides. We do not have to face the dismal realities of our economic demise when we can watch fatso make a fool of himself...

Fri, 02/20/2015 - 14:43 | 5808698 azusgm
azusgm's picture

Tall Tom,

As I posted in another thread a couple of weeks ago, my bro-in-law is a master plumber. He reworked a portion of a natural gas line at a school building because of a leak. When he tested the line after the repair, there was a leak. It became apparent that the fittings were not performing well. He went back to the plumbing supply to find parts that were all made in the USA. That was quite a task. Finally found American made gas fittings, did his repair work all over again and the work passed his pressure test. He says the foreign plumbing supplies are getting worse.

This was a gas leak at a school. Not funny.

Fri, 02/20/2015 - 11:29 | 5807885 yogibear
yogibear's picture

Bullish for landfills. It's where all this junk ends up.

Fri, 02/20/2015 - 11:29 | 5807889 johngaltfla
johngaltfla's picture

Do we get our ChiCom plastic sex toys or not? 50 Shades has got all the US housewives all worked up.

Fri, 02/20/2015 - 11:29 | 5807891 PirateOfBaltimore
PirateOfBaltimore's picture

I'm sorry, but fuck unions directly in the face at this point in history.

 

Labor rackets.  The idea that businesses should be forced to negotiate with some entity is bullshit.  Fire them all and scab up, bitchez.

Fri, 02/20/2015 - 19:52 | 5810238 The Blank Stare
The Blank Stare's picture

So what happens when one of your 12 year old workers starts crying because she needs to go take a leak. Do you slap her or put her in the timeout corner?

Fri, 02/20/2015 - 11:30 | 5807894 44MagnumPrepper
44MagnumPrepper's picture

All Hail China Junk

Fri, 02/20/2015 - 11:31 | 5807898 Handful of Dust
Handful of Dust's picture

I really, really need just one moar T-shirt; then I'll have an even 3,000 [somewhere in my closets]!

Fri, 02/20/2015 - 11:31 | 5807901 sidiji
sidiji's picture

They need to break up the labor monopoly to free competition.  Lots of people want jobs at the docks which pays better than doctor's salaries.  Ludicrous, especially as it impacts national economic security

Fri, 02/20/2015 - 11:49 | 5807977 Accounting101
Accounting101's picture

Stop being an economic Peeping Tom. Worry about how much you are making and leave the rest of us alone. Take your socialist bullshit somewhere else.

Fri, 02/20/2015 - 12:14 | 5808095 SirBarksAlot
SirBarksAlot's picture

You're just jealous cause your cheese is now on that boat. 

Fri, 02/20/2015 - 12:14 | 5808096 SirBarksAlot
SirBarksAlot's picture

You're just jealous cause your cheese is now on that boat. 

Fri, 02/20/2015 - 11:31 | 5807902 Renov8
Renov8's picture

I need this shit to come in, otherwise I have no inventory for my customers.

Not everything out of China is crap!

 

 

Fri, 02/20/2015 - 13:00 | 5808229 ThroxxOfVron
ThroxxOfVron's picture

"I need this shit to come in, otherwise I have no inventory for my customers. "

Get a clue: source it local.  

Stop making yourself subject to all of the avarices and whims of every skimmer between you and the product.

China and the off-shore production peddlers are just putting layers of skim between you and your source to pinch your margin.

This problem is only going to get worse for you and your customers as time goes on.

You weren't carefully rendered 100%v dependent on the vast foreign and domestic financing/production/import/distribution chain and all of these over-paid basksters, over-paid union dock douches, etc. for your benefit.

The various bottlenecks along the way are all designed for value extractions.

You have trapped yourself in a system where everyone up-stream can extract that value and shove the cost of their imposition onto your bottom line.

Get a clue: you are getting fucked and you are fucking up the whole economy around you by playing their rentier's wealth extraction and economic toll booth games...

Fri, 02/20/2015 - 13:02 | 5808247 Disc Jockey
Disc Jockey's picture

Throxx buddy, you can't sell something that doesn't exist. America produces very little anymore. It's been game over for more than a decade on US "manufacturing."

Fri, 02/20/2015 - 14:38 | 5808679 Tall Tom
Tall Tom's picture

ThroxxofVron...

 

Damn it!!! If I could have bought American Made Iron Pipe yesterday don't you think that I'd have bought American made pipe?

 

We fucking exported ENTIRE FACTORIES. We do not have an Ironworks Manufacturing capacity in this country anymore. Read my post above.

 

I have got the damn clue that I am getting fucked, in the ass, without the K- Y Jelly if I play their God Damned game. That is why I am FABRICATING ALL THINGS, OUT OF SCRAP WHENEVER POSSIBLE to minimize start up expenses, including the METAL FORGE.

 

I will be local and I will be fabricating Custom PARTS through Lost Foam Casting, green sand with forms...amongst other uses which I've planned for that forge.

 

Metalsmithing will be a useful and marketable skill post collapse.

 

 

Fri, 02/20/2015 - 11:32 | 5807903 WTFUD
WTFUD's picture

' Shitting in the dock of the Bay '

Fri, 02/20/2015 - 11:33 | 5807908 BouncingCat
BouncingCat's picture

Those workers already average $150k in base pay. Time to break that union.

Fri, 02/20/2015 - 11:43 | 5807943 Accounting101
Accounting101's picture

It's none of your god damn business what these workers, or anybody else for that matter, have in compensation. Stop being envious and just worry about yourself.

Fri, 02/20/2015 - 11:48 | 5807973 Urban Redneck
Urban Redneck's picture

...said the bankster and the oligarch.

Fri, 02/20/2015 - 11:56 | 5808014 Accounting101
Accounting101's picture

So you are preoccupied with what fellow middle class Americans make as well? Mind your own fucking business and worry about yourself. Take your socialist bullshit elsewhere.

Speaking of bankers and Oligarchs, why were you standing with dick in hand as $23 trillion of private debt was heaped on to the U.S. taxpayer? To worried about what you next door neighbor's take home pay is I'm sure.

Fri, 02/20/2015 - 12:21 | 5808124 Urban Redneck
Urban Redneck's picture

Oh, the fucktard's feelings got hurt...

Let me put this in simple terms so your limited mind might be able to grasp the point...

This is not simply a private contract between between private parties.

The Longshoreman's Union has a State Sanctioned Monopoly on Labor at the port, same as the banksters do with the money supply.

Given the importance of trade to economic health of society and the State, particularly in light of the transition to Just in Time inventory management, and the concentration of goods from major trade partners arriving at West Coast ports., THIS IS MY BUSINESS, and every other Americans' as well.

Your notion of butt out of my extortion racket, is laughable.  

Fri, 02/20/2015 - 12:40 | 5808191 Accounting101
Accounting101's picture

You are contradicting yourself and do not even know it. Important to America's economic health was the same exact reason given for the $23 trillion corporate and financial services industry bailout.

You can try to rationalize your preoccupation with your neighbor 's salary all you want. What happens with the West Coast Longshoremen have no bearing on you what so ever. Well, other than your dick getting hard because someone somewhere might be making more money and have better benefits than you. Pure economic envy.

Fri, 02/20/2015 - 13:01 | 5808245 Urban Redneck
Urban Redneck's picture

Do even know what the word contradiction means?

Do you have any idea what the head of industrial engineering at a 100 billion dollar bank makes over the course of decade?  

This isn't about salary envy.

But based on your lack of response about my point on MONOPOLY, and your lie of omission (or ignorance) below in regards to "what is deemed appropriate for both sides" in light of the Labor Monopoly and Sole Operating Concession granted by the State... you don't have a suitable response, and there isn't one.

So you can suck Big Swinging Bankster Dick or you can suck Little Labor Mafia Oligarch Dick - makes no difference to me, but perhaps the union boss actually needs a bj - since a decade ago East Coast Union bosses were only pulling down over USD 3/4 million per year in salary and benefits (it's amazing what's in my insurance file-- they get their 2&20 too... and rape their dues paying customers like low-budget-bench-warming squids).

You're not doing a very persuasive job of defending your fellow kleptocrats .

Fri, 02/20/2015 - 13:48 | 5808422 Accounting101
Accounting101's picture

Again, lots of words but it boils down to one thing. You are overly obsessed with how a fellow middle class American may, or may not be, compensated. The "big union boss" bullshit died a very long time ago. Trying to conflate a longshoremen union with the Oligarchs socializing all their private debt is beyond ignorant. Your neighbor is not a kleptocrat and he is not the reason you are ineffectual in this world.

My response has been direct from the beginning. Your dick gets hard because someone has the guts to demand a certain compensation package. Mind your own fucking business. Now you are just being pathetic.

Fri, 02/20/2015 - 14:00 | 5808512 deadelephant
deadelephant's picture

actually this is everyone's business because we all pay their salaries indirectly when we buy all the chinese crap they offload.  (personally, i think it may be good that the cost of bringing in chinese crap is going up.)  there of plenty of workers getting laid off of oilfield jobs right now that would gladly do the same job for less.  why shouldn't they be allowed the oportunity to work?  you keep calling everyone else "socialist", but you are the one pushing socialist ideas.

Fri, 02/20/2015 - 14:24 | 5808609 Accounting101
Accounting101's picture

For Christ's sake! You sincerely believe the chicken came before the egg. We all pay your salary because we buy whatever shit product you produce. Those longshoremen take their wages and subsidize you. Of course you didn't think about this issue for longer than two seconds and can't accept reality. Economics applies to everyone but you.

But let's play your stupid ass zero sum game. How about all those oilfield workers come do your job for less? I'm sure they all would be happy to have your job.

Fri, 02/20/2015 - 15:13 | 5808818 Urban Redneck
Urban Redneck's picture

1)  Median HOUSEHOLD income in the United States was $51,900 in 2013.  At a median longshoreman's union INCOME of $150,000 the monopolistic kleptocrats you defend are in TOP 10% of households based on only 1.0 incomes per household.  Your a either dsihonorable lying scum or an idiot.

2) You continue to toss unsubstantiated ad hominems and ignore the State Sponsored Monopoly of the kleptocrat unions scum

3) The Union members did NOT have to walked off the job in an effort to EXTORT MOAR MONEY by leveraging their monopoly (even Hank Paulson showed up for work...). 

4) The ONLY good member of ILWU13 is a DEAD MEMBER OF ILWU13.  They should be strung up right next to Jamie Dimon and the Oompa Loompa of Marriner Eccles.  And when the scum are dead... the houses, bank accounts and retirement and college savings of their widows and orphans should be seized in compensation for the economic damage done by the strike.

 

 

Fri, 02/20/2015 - 13:08 | 5808275 2muchtax
2muchtax's picture

Are you fucking retarded? No bearing? They drive up everyone's cost, while reducing the supply of labor. WTF does it have to do corporate welfare? If I don't like the union mafia then I must like corporate welfare?

Fri, 02/20/2015 - 13:47 | 5808466 Accounting101
Accounting101's picture

No, the fact that you conflate the two shows your economic ignorance. The union mafia is pure bullshit. That mafia includes your fucking neighbors. The longshoremen or any other union organized entity didn't cause the entire financial system in the Western World to collapse in 2008. They weren't out there selling synthetic investment instruments to the world.

You're fucking radio told you this longshoremen strike is a big deal. Your radio is betting on your economic stupidity. It was a bet well placed.

Fri, 02/20/2015 - 11:50 | 5807985 glenlloyd
glenlloyd's picture

Actually when there's an entity that artificially boosts what the compensation level is it is our business.

Unions cause unemployment when they decide winners vs losers.

Fri, 02/20/2015 - 12:10 | 5808077 Accounting101
Accounting101's picture

Bullshit! If your employees are unionized their contract negotiators enter negotiation with you on compensation, benefits, etc. The final agreement is what is deemed appropriate for both sides. Don't bitch and complain because your employees have a say in that agreement.

Fri, 02/20/2015 - 12:59 | 5808242 Augustus
Augustus's picture

Actually, asshat, it is the employer who has been hamstrung by Government.

Tens of thousands would take the jobs at $40 an hour with those benefits.

These turkeys are just moving around some large boxes.

Just put up some We're Hiring signs and let the union clowns start swimming on to their better job.

Fri, 02/20/2015 - 14:51 | 5808729 Accounting101
Accounting101's picture

Be very careful when determining how hard, physically or mentally taxing someone else's job is. My guess is you would piss yourself after doing 15 minutes of longshoremen's work.

Fri, 02/20/2015 - 11:50 | 5807986 Colonel Klink
Colonel Klink's picture

Brilliant braniac, lets just pay fast food workers their $15 an hour because it won't affect prices at all.  Labor is typically the largest input cost for any business.

By your standard why worry about anything anyone does.  Dolt!

Fri, 02/20/2015 - 12:01 | 5808044 Accounting101
Accounting101's picture

Mind your own fucking business! You worry about your salary, let the rest of us worry about ours. Salary envy is not a noble trait.

If you want to worry about something asshat, worry about the $23 trillion in private corporate and financial services debt that has been socialized. Stop snooping around your neighbor's economic underwear drawer.

Fri, 02/20/2015 - 12:29 | 5808151 SirBarksAlot
SirBarksAlot's picture

http://www.free-bullion-investment-guide.com/price-inflation.html

Scroll down to see the price of cars almost doubled from 1970's to 1980's and tripled from 1960's to 1980's, right when manufacturing was sent overseas. 

Cheap labor has NOT affected the price of automobiles.

 

Fri, 02/20/2015 - 13:01 | 5808244 Colonel Klink
Colonel Klink's picture

I'm not worried about my salary.  I don't get one.  I pay my own way now.  Frankly I couldn't care less what anyone makes.  I have no salary envy.  So how about this, GO FUCK YOURSELF with your wrongheaded thinking.  M-kay pumpkin?

As for the 23 trillion heaped on the taypayer, I'm no longer one by choice.  Part of the purpose why I stopped working.  What the fuck have you done about it ASSHAT?

Fri, 02/20/2015 - 14:42 | 5808695 Accounting101
Accounting101's picture

Perfect! Keep cashing those Social Security checks (not a bad thing, you earned it) and enjoy retirement. And because you now agree with me that a longshoreman's salary is none of your business, you may move to posting bullshit about another topic.

Fri, 02/20/2015 - 17:53 | 5809754 Colonel Klink
Colonel Klink's picture

BUZZ, wrong again fuckhead.  It's all my money.  I haven't taken a dime from the government.

I never agreed with you from the perspective that it's none of my business.  I said I don't have salary envy.

So I see you must be like most accountants and eCONomists.  You read into things what you choose, to arrive at a predetermined conclusion.

You sir, are a piece of shit. FOAD!

Fri, 02/20/2015 - 13:49 | 5808481 Money_for_Nothing
Money_for_Nothing's picture

The game is rigged. Your statements say ignore that part of the rigged game and concentrate on this other part. Baltic Dry says the west coast ports are going to be downsized.

Fri, 02/20/2015 - 14:32 | 5808649 Accounting101
Accounting101's picture

My comments say mind your own fucking business. Let management and the longshoremen deal with the Baltic Dry, compensation, etc

And yes, I'm going to ignore the deliberations between longshoremen and their management. The longshoremen didn't create, sell and bet against debt instruments that destroyed the world economy.

You knew your false equivalency was bullshit, right?

Fri, 02/20/2015 - 12:21 | 5808125 SirBarksAlot
SirBarksAlot's picture

Are cars cheaper now that they're not being made by the unions?

 

Fri, 02/20/2015 - 12:21 | 5808126 SirBarksAlot
SirBarksAlot's picture

Are cars cheaper now that they're not being made by the unions?

 

Fri, 02/20/2015 - 12:33 | 5808163 roadhazard
roadhazard's picture

So tell me, if the workers are making 150K what do you think management is making and why the fuck are you not on THEIR case. Yeah, lets Union bust and break the middle class some more. 

Fri, 02/20/2015 - 13:38 | 5808413 Urban Redneck
Urban Redneck's picture

You are calling members of the top decile of US income earners -"middle class".  If you really want to play the sympathy card and use "middle class" let's cut every Union Members' income and benefits by $100,000, the they will be in the middle of the middle class.

Fri, 02/20/2015 - 14:04 | 5808529 deadelephant
deadelephant's picture

why is it any of your business what management makes?  get your snooping nose out of their economic underwear drawer.

Fri, 02/20/2015 - 12:55 | 5808231 Augustus
Augustus's picture

The plan should have been to put out some "We're Hiring Here" signs and let the union suck hemorrhoids.

Let them have a Hostess party if they cannot work for $75 an hr.

Fri, 02/20/2015 - 11:38 | 5807923 Payne
Payne's picture

More mis direction.  No deal, just like Greece.

Fri, 02/20/2015 - 11:38 | 5807925 NOZZLE
NOZZLE's picture

Coming soon automation, it's not like Marlon Brando is still unloading ships by hand.  

Fri, 02/20/2015 - 14:57 | 5808755 azusgm
azusgm's picture

Exactly. That per worker productivity number will soon rise. The unions are set to price themselves out of the market.

Let's see someone try to unionize a fully automated port. Besides, computerized machines are not subject of Obamacare guidelines and Cadillac taxes. Problems solved.

If machines can flip burgers, machines can unload ships.

Fri, 02/20/2015 - 11:47 | 5807963 Xploregon
Xploregon's picture

Unions hold the economy and government hostage. Could government cost 1/3 less if non-union business could bid against Unions in a free, open, competitive market?

Fri, 02/20/2015 - 12:37 | 5808172 roadhazard
roadhazard's picture

NOTHING would be cheaper without Unions. Remember how NAFTA was supposed to bring down prices? The difference just goes into management and shareholder pockets. Fuck them.

Fri, 02/20/2015 - 12:50 | 5808221 plane jain
plane jain's picture

.

 

The difference just goes into management and shareholder pockets. Fuck them.


This. It isn't like if these dockworkers are paid less the rest of us will be paid more, or that prices will be lowered so that our goods are cheaper.

Fri, 02/20/2015 - 13:13 | 5808300 2muchtax
2muchtax's picture

That's a great third grade argument. The price of everything = cost + profit. The consumer pays these low skilled asshats.

 

Fri, 02/20/2015 - 11:53 | 5807989 Xploregon
Xploregon's picture

BTW- what we, the U.S. tax payers pay government workers and for government projects IS OUR BUSINESS.

Fri, 02/20/2015 - 12:05 | 5808059 youngman
youngman's picture

NOT........no deal..it was all Algo hype....

Fri, 02/20/2015 - 12:50 | 5808222 AlamoJack
AlamoJack's picture

So - if I wanna' walk in at the dock and try to get my little crew some work with the Port Captain, will there be a problem with the existing unionized dock workers???  I'd bet that each and every one of them would threaten my guys with death by tire iron.  AND YOU SAY MIND MY OWN BUSINESS??  Phuck off

Fri, 02/20/2015 - 13:36 | 5808405 ItsDanger
ItsDanger's picture

Show the dockworkers the robot who can make 300 burgers in an hour and an agreement could be resolved in mere minutes.

Fri, 02/20/2015 - 14:31 | 5808640 ChiefToledo
ChiefToledo's picture

I have been going to sea for 20 years. I can tell you that the longshoremen appear to be grossly overpaid. Then, when you take into account there are almost no Shipping jobs left because your competition works for $400 dollars a month I feel ok. Maersk and NYK and MSC all take advantage of our business climate to take all of that revenue over seas, some are even subsidized buy the US government, I think, at least someone is going to get
their pound o flesh. The money they make is pennies on a pair of Nikes. I can tell you one thing, if they took a 30% cut in the contract not a single American would benefit. It would be lost overseas. Look at Maersks profit, do they really need any more at the expense of our standard of living?

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