Grocery strike news

Reuters reports: “Union, Grocers Contract Talks Continue”

Union and supermarket company officials met for their 10th straight day of contract talks on Friday to hammer out a settlement to end a five-month-long Southern California labor dispute . . . .

The latest discussions began on Feb. 11 following a failure of numerous other attempts to resolve the impasse. . . .

Mark Husson, an analyst at Merrill Lynch, said he reckons that “we could now be only days away from an announcement,” possibly outlining a settlement.
He said in a research note the continuation of the discussions suggested that “employees and shareholders have metaphorically locked the various parties in a room and won’t let them out without a deal.”

Sounds promising. It can’t go on forever.

My prediction: it will settle and both sides will claim victory, but the stores will come out having made less concessions than the union.

However, it will not have been worth it for either side, except perhaps in the very long term for the stores, as they are reported to have lost more than $1 billion in sales due to the strike.

Wonder how much employees lost in wages in the aggregate?

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