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\f0\b\fs24 \cf2 \cb3 BY JOHN O\'92CONNOR \b0 \
\ Fresh negotiations between port owners and
dockworkers have ended the threat of a crippling port strike ... for now. {\field{\*\fldinst{HYPERLINK
"http://www.nbcnews.com/"}}{\fldrslt \cf4 \ul \ulc4 MSNBC explains}}.\
\
\b \'93A federal mediator says that the Longshoremen's union and the group representing port operators
and shipping lines have agreed to a thirty day contract extension, narrowly averting
the Sunday strike deadline.\'94 \'a0 \b0 \
\ \pard\pardeftab720
{\field{\*\fldinst{HYPERLINK "http://www.nytimes.com/2012/12/29/business/shutdown-averted-for-ports-on-east-and-gulf-coasts.html"}}{\fldrslt \cf4 \ul \ulc4 According to The New York Times}},
\b \'93The partial agreement means that the union, the International Longshoremen\'92s
Association, will not carry out its threat to have 14,500 dockworkers go on strike this
Sunday at 14 ports along the East and Gulf Coasts.\'94\'a0
\b0 \ \
\pard\pardeftab720 {\field{\*\fldinst{HYPERLINK "http://money.cnn.com/2012/12/28/news/economy/no-port-strike/"}}{\fldrslt
\cf4 \ul \ulc4 CNN reports}} such a strike would cost the U.S. economy more than $1 billion
a day in lost export revenues.\ \
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\b \cf2 \'93If a strike does take place, shipping costs will rise on a wide variety of consumer
goods, and tens of thousands of other workers at railroads, trucking companies and warehouses
handling freight from the ports could find themselves out of work.\'94\'a0
\b0 \ \
\pard\pardeftab720 {\field{\*\fldinst{HYPERLINK "http://www.washingtonpost.com/blogs/wonkblog/wp/2012/12/28/there-wont-be-a-coastwide-port-strike-after-all/"}}{\fldrslt
\cf4 \ul \ulc4 The Washington Post explains}} item that caused most of the negotiating hold
up was between the dock workers and port owners on container royalties. Longshoremen get paid
based on the weight of each shipped container, and on average make an additional $15,500
a year from these bonuses.\'a0\ \
\pard\pardeftab720 {\field{\*\fldinst{HYPERLINK "http://www.foxnews.com/"}}{\fldrslt
\cf4 \ul \ulc4 A Fox News business analyst explains}} port owners want to put a cap on
those royalties, but the dock workers say it\'92s unfair.\
\ \pard\pardeftab720
\b \cf2 \'93This from the Federal mediator in Washington today, \'91The container royalty
payment issue has been agreed upon in principle by the parties subject to achieving an overall
collective bargaining agreement.\'94 \'a0 \b0 \
\ The temporary agreement on the existing contract
has now extended the new deal deadline until Feb. 6. Dock workers say they will carry out
their strike threat at that time if a new, permanent deal can\'92t be reached.}