West Coast Port Contract Negotiations Close to Being Resolved

The West Coast port workers' unions and their employer are very close to coming to a new long-term contract, says Port of Long Beach CEO Jon Slangerup.

Author:: Ruben Ramirez
Publish date:: Feb 11, 2015 11:23 AM EST

Negotiations between the West Coast port workers' unions and their employer have been going since May of 2014 and Port of Long Beach CEO Jon Slangerup says both sides are very close to coming to a new long-term contract. Slangerup said on Wednesday that an agreement between the two sides 'could come any day now.' Once a new contract is signed, business will likely get back to normal in four to six weeks. One of the biggest issues at the Port of Long Beach has been congestion and Slangerup said some port business has been diverted to other ports in Mexico in Canada but he hopes a $4 billion investment at Long Beach will help the port win more business. 'The expansion will bring a substantial amount of new business. It will be the most efficient port ever built...the name of the game is speed to market and everything we’re doing. TheStreet's Ruben Ramirez has details from New York.