PORT OF NEW YORK/NEW JERSEY- Industrial real estate specialistshead into the holiday weekend expecting to hit a curve, in additionto a “cliff.” Whatever happens with the fiscal crisis pending onTuesday, many believe the U.S. dock workers' union will followthrough with a called strike on Sunday, raining hurt on strugglingretailers and manufacturing.
“I think it is going to happen,” CBRE's William R. Waxman tellsGlobeSt.com “I think people are prepared for a short amount of timeby having brought in extra product. Companies may be somewhatprepared for a longer period of time, since some of their shipperstook care to diversify the use of ports after the last shut-down,ten years ago.”
There have already been reports of companies – Target Corp. isone - making alternative plans in case the strike occurs.
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