This is going to hurt.

EW YORK (AP) — U.S. ports from Maine to Texas could shut down Tuesday if a union representing about 45,000 dockworkers carries through with a threatened strike.

A lengthy shutdown could raise prices on goods around the country and potentially cause shortages and price increases at big and small retailers alike as the holiday shopping season — along with a tight presidential election — approaches.

“First and foremost, we can expect delays to market. And those delays depend on really what the commodities are and priorities at the ports and how quickly things move,” said Mark Baxa, president of the Council of Supply Chain Management Professionals.

Ouch.

For over a decade, business was booming in Hollywood, with studios battling to catch up to new companies like Netflix and Hulu. But the good times ground to a halt in May 2023, when Hollywood’s writers went on strike.

 

The strikes lasted multiple months and marked the first time since the 1960s that both writers and actors joined forces – effectively shutting down Hollywood production. But rather than roaring back, in the one year since the strikes ended, production has fizzled.

 

Projects have been cancelled and production was cut across the city as jobs have dried up, with layoffs at many studios – most recently at Paramount. It had a second round of layoffs this week, as the storied movie company moves to cut 15% of its workforce ahead of a merger with the production company Skydance.

 

Unemployment in film and TV in the United States was at 12.5% in August, but many think those numbers are actually much higher, because many film workers either do not file for unemployment benefits because they’re not eligible or they’ve exhausted those benefits after months of not working.

 

As a whole, the number of US productions during the second quarter of 2024 was down about 40% compared to the same period in 2022. Globally, there was a 20% decline over that period, according to ProdPro, which tracks TV and film productions.

Ouch.

RENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. A failure to get a deal done could be even more expensive.

 

In the shadow of a factory outside Seattle where Boeing makes its best-selling planes, picketing Boeing machinists told CNBC they have saved up money and have taken or are considering taking side jobs in landscaping, furniture moving or warehouse work to make ends meet if the strike is goes on much longer.

The work stoppage by Boeing’s factory workers in the Pacific Northwest just entered its second week. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long.

Way bigger ouch.

A major strike is on the horizon for thousands of maritime workers, posing a threat to East Coast ports responsible for billions of dollars of goods.

 

The International Longshoremen’s Association (ILA), the largest union of maritime workers in North America, has vocalized plans to go on strike at all of its Atlantic and Gulf Coast ports Oct. 1 if a new contract agreement can’t be reached with the United States Maritime Alliance (USMX). The union is arguing for better wages and continued protections against automation and new technology in its terminals.

“A sleeping giant is ready to roar on Tuesday, October 1, 2024, if a new Master Contract Agreement is not in place,” ILA President Harold J. Daggett said in a statement Monday.  “My members have been preparing for over a year for that possibility of a strike.”