Economy

Dockworkers pause strike after Biden administration’s appeal to patriotism hits the mark

Dockworkers at East Coast ports halted a strike following government intervention, accepting a 62% wage increase, easing supply chain disruptions.

Published

7 months ago

October 6, 2024

The Conversation

Anna Nagurney, UMass Amherst

A dockworkers strike that froze operations at East Coast and Gulf Coast ports for 2½ days was paused on Oct. 3, 2024. The Conversation U.S. asked Anna Nagurney, a scholar of supply chains, to assess the extent of disruptions that likely occurred and how the swift return of 45,000 workers who had been on strike may stave off further problems down the road.

Why was the strike suspended?

Aided by intense pressure from senior Biden administration officials, the shipping companies, represented by the U.S. Maritime Alliance, significantly increased the raise they were offering the dockworkers to 62% from their previous offer of a 50% boost in pay. The International Longshoremen’s Association, the dockworkers’ union, was seeking a 77% raise, but it accepted the new offer, which will be phased in over six years.

The agreement labor leaders and management reached will suspend the strike until at least Jan. 15, 2025, allowing more time for additional collective bargaining and negotiations.

Talks over other contested conditions, including the adoption of more automation, will continue until then.

President Joe Biden applauded both sides. He thanked the union and management “for acting patriotically to reopen our ports and ensure the availability of critical supplies for Hurricane Helene recovery and rebuilding.”

How has this strike affected the economy?

About half of the products that the U.S. imports are handled by the ports that were paralyzed during this brief strike. About 1 million shipping containers arrive at these ports every month.

Imports include vast quantities of bananas and other fresh produce, coffee, pharmaceuticals, liquor, toys, apparel, furniture, machinery and vehicles. Exports include meats, commodities, machinery, chemicals, vehicles and vehicle parts.

The strike’s impact was immediate. More than 50 ships laden with hundreds of thousands of containers created a logjam at East Coast ports. Major retailers, such as Walmart, Costco, Lowes and Home Depot, were among the companies stuck waiting for the release of their stranded cargo.

It may take two to three weeks to relieve this logjam. Prices for some products, including coffee, were already rising before the negotiators reached their breakthrough.

Workers are critical to the functioning of each link in supply chains. When the dockworkers were on strike, other workers, such as truckers, rail employees and warehouse workers, were concerned about being affected, as well as all the businesses that rely on them, such as restaurants.

Workers shout while holding sighs saying 'ILA: Workers over machines, defend our jobs and rights.' — Dockworkers protest outside the Port of Newark on Oct. 1, 2024, in a strike with highly coordinated messaging. Spencer Platt/Getty Images

Why is the new time frame significant?

Shipping tied to the holiday season typically runs from July through early November. Members of the National Retail Federation, the largest U.S. retail trade group, have already been dealing with significant supply disruptions due to Houthi attacks in the Red Sea and Suez Canal. The attacks have forced shipping companies to take longer routes, delaying cargo delivery and increasing costs due to the need for more fuel and labor.

A prolonged dockworkers strike would put stress on the economy. According to J.P. Morgan, a lengthy dockworkers strike could have cost the U.S. economy US$5 billion per day.

The temporary agreement pushes the strike past the U.S. elections in November and the conclusion of the upcoming holiday season. That gives both sides a chance to return to the bargaining table to continue to negotiate and to reach an agreement on the issues that haven’t been resolved yet – notably the use of automation.

Having a shorter strike will reduce the risk of shortages of everything from mangos to Maseratis and the price increases that typically occur when products are scarce and in high demand.

A woman in a purple pantsuit holds a microphone while speaking at a conference. — Acting U.S. Secretary of Labor Julie Su played a pivotal role in the negotiation of a temporary agreement that staved off a lengthy work stoppage by striking dockworkers in October 2024. Shannon Finney/Getty Images for Care Can’t Wait Action

What did the Biden administration do?

The Biden administration was eager for a settlement, especially with the ports serving as channels for recovery supplies after the massive damage seen in Florida, western North Carolina and other areas near the East Coast from Hurricane Helene.

Senior government officials made notable progress when they met with representatives of shipping companies before daybreak on Oct. 3 over Zoom.

Julie Su, the acting labor secretary, had been working hard to help the two sides settle their differences. She emphasized over Zoom that she could get the International Longshoremen’s Association to the bargaining table to extend the contract. Transportation Secretary Pete Buttigieg also stayed in touch with labor and management, and used that Zoom meeting to tell the shipping companies that they would need to offer the dockworkers a higher wage.

White House Chief of Staff Jeff Zients told the shipping companies on Zoom that they should make an offer to the union quickly so that the strike wouldn’t further exacerbate the effects of Hurricane Helene.

It seems clear to me that the pressure worked – helped, perhaps, by a bit of patriotism.

Anna Nagurney, Eugene M. Isenberg Chair in Integrative Studies, UMass Amherst

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Consumer Corner

Zelle Shuts Down Standalone App: Transitioning Users to Bank Platforms

Zelle’s standalone app ceased money transfers on April 1, 2025, requiring users to access the service via participating banks, enhancing security amid rising digital fraud.

Published

2 weeks ago

April 16, 2025

Rod Washington

On April 1, 2025, Zelle, one of the most widely used digital payment services in the United States, officially shut down the money transferring services available on its standalone mobile app. While the service itself is not disappearing, many users will need to adapt to a new way of accessing this popular tool for peer-to-peer payments.

Why It Matters

Zelle has established itself as a key player in the peer-to-peer payment market. It facilitates instantaneous transfers without fees between bank accounts, making it a foundational tool for consumers and small businesses alike. The change primarily affects those who previously used the Zelle app independently of their bank’s app or website. Users will now need to re-enroll with one of the 2,200 participating banks or credit unions that offer Zelle via their digital banking platforms.

What Is Happening to the App?

Though the standalone Zelle app has closed its money transfer services, users will still be able to access it. The app now provides a directory of the over 2,200 banks and credit unions that support Zelle. A recent press release indicates that the app will shift its focus to consumer education, particularly around scams and fraud prevention. According to an in-app alert accessed on April 4, users can continue to log into the app until August 11, 2025.

Why Is Zelle Shutting Down the App?

Zelle announced the decision to shut down its standalone app back in October 2024, noting that a significant majority of its users already access the service through their bank’s apps or websites. Since the announcement, the company has been phasing out enrollment and transaction capabilities within the standalone app. Late last year, Zelle communicated again via in-app alerts and emails, urging users to migrate to their bank or credit union’s platform to continue using the service.

In a statement regarding the shift, Zelle highlighted its remarkable growth, reporting that consumers and small businesses moved nearly half a trillion dollars on the platform in the first half of 2024, a 28% year-over-year increase. Initially launched in 2017 primarily for users whose financial institutions had not yet joined the network, Zelle has experienced widespread adoption across almost all major banks and credit unions.

Zelle’s decision may also be motivated by security concerns. With an uptick in fraud targeting digital payment apps, directing users through regulated financial institutions may afford them additional protection and oversight.

When Did the App Shut Down?

The standalone Zelle app ceased processing transactions on April 1, 2025. Users can no longer send or receive money via the app, and those who wish to continue using Zelle must re-enroll through a compatible bank or credit union’s mobile app or website.

How Will My Payments Be Affected?

Individuals who previously used the standalone Zelle app need to take action. They can no longer send or receive money via the app and must migrate to a bank or credit union that offers Zelle. Users who do not re-enroll through a partner institution should inform their senders accordingly.

To check if a specific bank supports Zelle, visit enroll.zellepay.com. Once logged into a bank’s mobile app or website, users can usually locate Zelle in the “Payments” or “Transfers” section. The transition may require users to verify their email address or phone number associated with their former Zelle account.

Fortunately, those using Zelle through their mobile banking app will not experience any changes and do not need to take further action.

How Many People Use Zelle?

As of June 2024, Zelle boasted 143 million consumer and small business accounts, with users executing money transfers 1.7 billion times in the previous year. The integration of Zelle into nearly all major U.S. banks indicates that it will likely retain its dominance in the digital payment space, despite the changes to its standalone application.

While the shutdown of Zelle’s standalone app marks a significant transition, the underlying service remains robust and widely utilized. By directing users to bank platforms, Zelle aims to enhance security and further solidify its position in the competitive landscape of digital payments. As users adapt to this change, Zelle continues to play a vital role in simplifying and securing money transfers across the country.

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News

Nissan Reduces Pricing for 2025 Rogue and Pathfinder: A Commitment to Value?

Published

3 weeks ago

April 6, 2025

Rod Washington

NASHVILLE, Tenn. – In a move that signifies its dedication to customer satisfaction and value, Nissan has announced significant reductions in the Manufacturer’s Suggested Retail Prices (MSRP) for two of its most popular models, the 2025 Rogue and 2025 Pathfinder. This strategic decision comes at a time when many consumers are navigating a challenging car-buying landscape, making affordability a key factor in their purchasing decisions.

Lower Prices for Greater Accessibility

The pricing adjustments span across all grades for both the Rogue and Pathfinder, reflecting Nissan’s commitment to ensuring that more customers can access quality vehicles without straining their budget. With rising costs affecting many households, these reductions are not just a reactive measure but a proactive step in continuing to provide exceptional value.

The 2025 Rogue, known for its versatility and efficient performance, will now appeal even more to families and individuals alike who prioritize both style and functionality in their vehicles. Meanwhile, the Pathfinder, a reliable and spacious SUV, caters to those needing extra room for travel, adventures, or daily commutes.

Why This Matters

For many buyers, feeling secure about their investment in a vehicle is paramount, especially when purchasing in today’s economic climate. By lowering the MSRP, Nissan aims to make the Rogue and Pathfinder not only more accessible but also more appealing as options in the competitive SUV market.

The decision to reduce prices aligns with Nissan’s larger strategy to maintain its customer-centric approach, fostering long-term relationships with buyers by ensuring they receive value for their investment.

What to Expect

As detailed in Nissan’s recent press release, prospective buyers can look forward to more competitive pricing as they explore their options. The enhanced value proposition of the 2025 Rogue and Pathfinder aims to provide customers with quality vehicles that meet their needs without compromising on features or reliability.

While specific pricing details were not fully disclosed in the press release, interested customers are encouraged to visit their local dealerships or check the official Nissan website for the latest updates and MSRP listings.

Conclusion

With the 2025 Rogue and Pathfinder, Nissan is not just reducing prices; it’s reaffirming its commitment to providing accessible, quality vehicles for all. By prioritizing affordability, Nissan continues to lead the way in understanding and addressing the needs of its customers in a rapidly changing market.

Stay updated on further developments and insights as Nissan continues to innovate and respond to the needs of car buyers everywhere. Whether you’re in the market for a spacious family SUV or a versatile crossover, Nissan’s latest offerings provide a compelling reason to consider these models.

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seniors

Discovering Scottsdale: The Best Place to Retire in the U.S.

Scottsdale, Arizona, has been named the best U.S. city for retirement, praised for its weather, active lifestyle, and quality of life.

Published

3 weeks ago

April 5, 2025

Charles Elliot

As a record number of Americans prepare to enter retirement in the coming years, many are seeking the ideal location to enjoy their golden years. According to the latest annual report from Niche.com, Scottsdale, Arizona, has emerged as the top city for retirement, praised for its exceptional weather, high quality of life, and vibrant active lifestyle.

In March, Niche.com unveiled its 11th annual Best Places to Live in America list. This comprehensive evaluation included data from the U.S. Census, the Bureau of Labor Statistics, and the CDC, thoughtfully combined with millions of resident reviews. The resulting analysis considered about 230 cities and over 18,000 communities across the nation, assessing factors such as affordability, the housing market, neighborhood diversity, public schools, and walkability.

So, what makes Scottsdale stand out as the ultimate retirement destination? As Zach Chatham, the public relations manager at Niche.com, shares, “Boasting some of the best weather in the United States, Scottsdale is the perfect oasis for retirement.” With an abundance of outdoor activities and numerous health and fitness options readily available, it’s no surprise that this Arizona city is ideal for those wishing to maintain an active lifestyle focused on longevity.

Scottsdale received an A rating overall, indicating its appeal as a place to live. The area is characterized by a dense suburban feel, with a high ownership rate among residents, which enhances the community atmosphere. The median rent is just above $1,900 monthly, while the median home price hovers around $710,000, reflecting the area’s desirability. Additionally, it earned a B+ rating for ethnic and economic diversity, showcasing the welcoming and varied community.

One resident encapsulated the allure of Scottsdale by stating, “Scottsdale, Arizona, is a really cool place with a mix of modern city life and Old West charm.” From breathtaking desert landscapes to culturally rich experiences like hiking Camelback Mountain or indulging in the nightlife in Old Town, there is no shortage of activities to enjoy. Although summers can be quite warm, the winters are pleasantly mild—an attractive factor for those looking to escape harsher climates. Those interested in golf, luxury resorts, or simply a lively atmosphere will find Scottsdale to be a perfect match.

Scottsdale is joined at the top of the list by other notable locations, including Clearwater, Florida; Metairie, Louisiana; St. Petersburg, Florida; and Cape Coral, Florida, rounding out the top five best places to retire.

Moreover, Scottsdale’s reputation as a premier retirement destination is further solidified by WalletHub’s previous rankings, recognizing the city for its high quality of life and abundant recreational activities. With over a quarter of Scottsdale’s residents aged 65 and over, it is clear that this city attracts retirees looking to make the most of their leisure years.

In summary, for those considering relocation during retirement, Scottsdale, Arizona, stands out as a vibrant oasis filled with opportunities for growth, relaxation, and adventure. Whether you’re drawn by the stunning scenery, diverse community, or active lifestyle options, Scottsdale promises an enriching backdrop for living life to the fullest in retirement.