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  • Businesses warn of 'coast wide port shutdown'...

    12/25/2012 1:43:20 PM PST · by Doogle · 34 replies
    FOXNEWS ^ | 12/25/12 | FOX
    As if Superstorm Sandy and the looming fiscal crisis weren't enough, a potential strike by thousands of dock workers from Boston to Houston threatens to shock the economy as early as this weekend. Business groups and state officials in recent days have called on President Obama to intervene, and use emergency powers to "avoid a coast wide port shutdown." They warn it could cost billions, citing estimates that a 10-day port lockout in 2002 cost $1 billion a day -- and caused a major backlog in shipments. Florida Gov. Rick Scott is the latest to enter the fray and call...