Wall Street doesn’t expect a port strike at the East and Gulf Coasts to be long-lasting if it were to happen.
Telsey Advisory Group’s chief investment officer Dana Telsey said that when the ILA went on strike in 1977 for seven weeks, that results in $4 billion worth of cargo delays and costing the economy hundreds of millions of dollars, or the equivalent of $20 billion and $1 billion to $4 billion today, respectively.
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