We might be at the start of a new union effort to close down the economy. Hollywood is totally on strike. In a few days, UPS and other delivery services will go on strike. That will harm the economy.
“As actors joined writers on the picket line Friday, analysts estimated a prolonged walkout could result in a $3 billion hit to the economy.
That’s bad news not just for creatives but also for the many businesses that rely on Hollywood for their livelihoods — talent agencies, advertising firms, caterers and such.
But the Tinseltown work stoppage could be relatively small potatoes compared to what may be coming down the pike.
The Teamsters say their 340,000 union members will walk off the job at delivery giant UPS if a new contract isn’t reached by the end of the month.
Anderson Economic Group estimates that just a 10-day walkout at UPS could cost the economy more than $7 billion.”
The good news is that Amazon will still deliver and reruns of Seinfeld will also be available.
Think the Hollywood strike is bad? Just wait
by: David Lazarus, KTLA, 7/14/23 https://ktla.com/news/money-smart/think-the-writers-actors-strike-is-bad-just-wait/
As actors joined writers on the picket line Friday, analysts estimated a prolonged walkout could result in a $3 billion hit to the economy.
That’s bad news not just for creatives but also for the many businesses that rely on Hollywood for their livelihoods — talent agencies, advertising firms, caterers and such.
But the Tinseltown work stoppage could be relatively small potatoes compared to what may be coming down the pike.
The Teamsters say their 340,000 union members will walk off the job at delivery giant UPS if a new contract isn’t reached by the end of the month.
Anderson Economic Group estimates that just a 10-day walkout at UPS could cost the economy more than $7 billion.
That’s a $4.6 billion hit to companies and consumers, causing “significant and lasting harm for small businesses, household workers, sole practitioners and online retailers across the country.”
But that’s not all. A UPS strike would also result in direct losses to the company of $816 million, according to Anderson, as well as $1.1 billion in lost wages for striking workers.
If indeed a strike occurs, and the losses are as huge as predicted, this would be the costliest labor stoppage in U.S. history.
UPS said Friday it’s preparing for the worst by training non-union employees and managers to step in and pick up some of the slack.
But keep in mind that UPS handles about 20 million packages a day. The company’s non-union folk simply can’t accommodate that volume of work.
For consumers, who have spent years learning the joys of e-commerce, a UPS strike would mean much longer wait times for goodies ordered online.
UPS has had only one nationwide strike in its history — a roughly two-week walkout in 1997. Nearly all U.S. operations came to a halt.
Amazon was only three years old at the time and still largely a bookstore.
Things are, to say the least, a little different now.
