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Motley Fool Hidden Gems Investing

Ports On Strike

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 1 October 2024

⏱️ 29 minutes

🧾️ Download transcript

Summary

About half of U.S. imports go through the ports where dock workers just went on strike. (00:25) David Meier and Ricky Mulvey discuss: - How companies are navigating the port worker’s strike. - The disagreement over automation. - Investor sentiment in artificial intelligence - One less discussed company that’s benefiting from others spending on AI. (18:28) Motley Fool Contributor, Dan Caplinger, joins Robert Brokamp to kick off a two part series on estate planning, and how you can help your family avoid going to court. Companies discussed: COST, CHRW, DBI, MSFT, META, PCOR Host: Ricky Mulvey Guests: David Meier, Robert Brokamp, Dan Caplinger Producer: Mary Long Engineer: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The docks are shutting down. You're listening to Motley Fool Money.

0:12.3

I'm Ricky Mollie. I'm Ricky Mulvey joined today by Motley Full analyst David Meyer.

0:16.9

David is not on strike.

0:18.8

He's showing up to work today.

0:19.8

Appreciate you being here.

0:21.1

Thanks for joining us on Motley Full Money. Definitely not on strike today.

0:24.3

Doc workers though on ports across the East Coast and the Gulf of Mexico have

0:29.2

stopped work. These are members of the International Longshoremen's Association.

0:33.7

David, they want a few things. They want more pay. They want better benefits like

0:38.4

employer contributions to retirement, better health care plans. And one biggiegie and that is to stop advanced

0:44.3

automation from taking jobs. If you say why should I care about the International

0:48.8

Longshoremen Association well it's because this stoppage is good to affect more than half of U.S. imports,

0:56.5

J.P. Morgan analysts expect this strike to cost about $4 billion per day. That's a good place to start. This is a temporary

1:05.6

disruption but which companies are going to be feeling the impact from this.

1:09.9

Yeah, it's a good question to start off.

1:13.0

Look, the obvious one is trucking companies.

1:16.6

And in fact, the stocks of companies

1:18.9

like Old Dominion Freight Lines,

1:21.1

J.B. Hunt Transportation, to name a few. They were off a little more this morning,

1:26.2

but are down 1 to 2 percent as we tape this. Look, that makes sense, right? Trucks are one way that those shipping containers get from the

1:35.3

ports and move around the country and a prolonged strike would see their trucks not moving at the same

1:42.0

speed that they once were and when those

...

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