PORT OF NEW YORK/NEW JERSEY- Industrial real estate specialistssay the region avoided a sharp curve heading into the end of theyear, even if the fiscal “cliff” still looms. On Friday afternoon,a dock workers' planned strike that would have shut down 14 EastCoast and Gulf ports was averted with a last-minute extension oftalks.
The International Longshoremen's Association and the UnitedStates Maritime Alliance agreed to take until Jan. 28 to resolvetheir differences over a new contract, instead of union memberswalking out on Sunday, just before the federal “fiscal cliff” isslated to occur unless politicians hammer out a last-minutedeal.
Many believe the U.S. dock workers' union could still strike,and predict that would rain hurt on struggling retailers andmanufacturing in the eastern half of the country.
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