West Coast Port Employers, Union Reach Tentative Five-Year Agreement [View all]
Source: WSJ
By LAURA STEVENS
West Coast port employers and their union said they reached a tentative five-year agreement on a new contract late Friday. The pact brings an end to a nine-month standoff that resulted in significant slowdowns at the ports.
The International Longshore and Warehouse Union and the Pacific Maritime Association were locked in negotiations all day Friday after the White House sent Secretary of Labor Thomas Perez to urge the two groups to come to an agreement. He threatened to send the parties to Washington, D.C., if the situation wasn’t resolved by the end of the day.
Union employees, as well as members of the Pacific Maritime Association, will need to ratify the contract.
“After more than nine months of negotiations, we are pleased to have reached an agreement that is good for workers and for the industry,” said maritime association President James McKenna and union President Bob McEllrath, in a joint statement. Mr. Perez said the ports would resume full operations Saturday evening.
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A backlog of ships sits anchored outside the ports of Long Beach and Los Angeles on Wednesday. PHOTO: REUTERS
Read more: http://www.wsj.com/articles/west-coast-port-employers-union-reach-tentative-five-year-agreement-1424485110
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