Contract extension averts massive port strike -- for now

[WestVirginiaRebel]

Fox News:

Dockworkers at major ports all along the East and Gulf coasts have struck a deal that, for now, averts a strike that threatened to freeze shipments and cripple the economy at a vulnerable time.

A federal mediator announced Friday that an expired contract for workers in the International Association of Longshoremen would be extended for 30 days while negotiations continue. The announcement was made shortly before the contract was set to expire this weekend, which could have triggered a massive strike by Sunday.

The negotiations affect 15,000 dockworkers at 15 major U.S. ports, from Boston all the way down to Houston. The White House in recent days had urged all sides to come together to reach an agreement "as quickly as possible."

The dockworkers had threatened to strike, just as the looming fiscal crisis is poised to hit next week without a deal in Congress. The combination of tax hikes, federal spending cuts and a freeze in shipments at East and Gulf coast ports was poised to do major economic damage.

The fiscal crisis still looms, but the possibility of a dockworker strike has been staved off for at least a month.

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Unions play chicken with the economy.