Port deal reached, at least tentatively

The leadership of the clerks union that has been striking the ports of Los Angeles and Long Beach agreed Tuesday night to take a settlement deal to its membership. The deal was announced shortly after federal mediators arrived at the negotiating session. Mayor Antonio Villaraigosa, who joined the negotiations last night, put out a statement tonight saying the strike was over.

I am pleased to announce that an agreement has been reached between labor and management that will bring to an end the eight-day strike that has cost our local economy billions of dollars.

I would like to thank both the employers and the union for returning to the bargaining table in earnest beginning last night and working feverishly to reach a new deal. The result is a contract amenable to both sides and the return to work during this holiday season for thousands of men and women who are vital to keeping our port running around the clock.

I also wish to express thanks to the federal mediators who quickly flew to Los Angeles today, fully prepared to work with both sides to reach an agreement. I appreciate their responsiveness and willingness to help us work to find a solution to the strike.

With the strike now ending, we must waste no time in getting the nation’s busiest port complex’s operations back up to speed.

Some economists, by the way, are skeptical that the strike has cost the local economy billions of dollars. The goods haven't been lost or destroyed; but in most cases merely delayed or diverted to a port in Baja California. "Loss estimates during a labor dispute tend to be unreliable," Mark Lacter noted at LA Biz Observed.

LA Observed photo