SATURDAY 6/28/14

At midnight Monday, the contract between the West Coast US port unions and the shipping companies expires. 40% of the imports hitting US shores arrive via the West Coast ports. A shutdown is the last thing the retailers need in an already soft consumer sales period with rising gasoline prices. The back-to-school products are crossing the Pacific Ocean on container ships en route to stores but a dock strike will create havoc in the supply chain. Holiday products are following close behind so the timing cannot be worse. Almost 13% of the US GDP moves through the West Coast ports so a strike will greatly impact the US economy. Union workers are already slowing the loading of containers onto tractor trailers sending a signal that they control the docks and plan on digging-in for a long fight.

Detroit’s problems continue with water service cut off from nearly 5K citizens due to non-payment (those with bills exceeding $150). About 60% of the bills are paid the next day so many simply needed to receive encouragement to do the right thing. Others are very poor and with lack of any job opportunities in Detroit the trouble continues. Detroit’s degradation serves as a warning and guide as to what will happen with other cities and local, state and Federal government moving forward. The paltry incoming funds from underemployed young people cannot support the excessive pension plans and obscene expenditures approved by politicians over the last few decades but very few care and there is no sense of urgency.














[Text is Redacted: Purchase June 2014-06 to Read the Complete Chronology]

Private video service company Aereo suspends operations three days after the Supreme Court rules in favor of the television broadcasters against Aereo. Rebroadcasting video content pulled from the air waves is considered to be copyright infringement which destroys Aereo’s business model.