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No Good(s): America's Looming Port Pain

No Good(s): America's Looming Port Pain

Your unbiased daily news brief

James Kratch
August 15, 2024

Good Thursday morning. London is celebrating the first baby beavers born inside the city lines in over 400 years. Have a great day!

In Today’s Brief

Alex Murdaugh: New trial?
Asia: PM shuffle
Trump: Another presser
Inflation: More cooling
Disney: Wrongful death suit

... and more

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Top Tips

1) Ship show

The U.S. is drawing closer to a significant economic headache.

What's happening: Importers are rushing to get goods into the country ahead of a potential work stoppage that could bring three dozen seaports to a standstill. The International Longshoremen's Association has vowed its 45K dockworkers will strike on Oct. 1 without a new contract.
The significance: Most industries can weather a short strike. Shipping is not one of them. Analysts project every day dockworkers spend on the picket line will result in 4-6 days of cargo getting backed up, meaning a two-week stoppage would cause delays that linger into next year.
Big picture: Retailers like Walmart believe the early shipping strategy will ensure shelves have school supplies and wares for the upcoming holidays. Shippers are already feeling financial pain that a strike would exacerbate, though. And the Houthi rebels' Red Sea antics do not help the cause.

2) Cutting the lines

Germany has reportedly identified a suspect in the Nord Stream sabotage.

Catch up: The natural gas pipelines, which run under the Baltic Sea from Russia to Germany, were hit by explosions in Sept. 2022, several months after the Kremlin invaded Ukraine. Three of the four Nord Stream lines were taken out; the U.S., Russia, Ukraine and the United Kingdom have all been accused of culpability at various points.
The news: German investigators have issued an arrest warrant for Vladimir Zhuravlev, a Ukrainian diving instructor. They are alleging he and several other Ukrainians chartered a yacht and dove to the pipelines near a Danish island before rigging the explosives.
Big picture: Zhuravlev was apparently in Poland earlier this summer, but returned to Ukraine before law enforcement could close in. The alleged co-conspirators have not been charged and two have denied involvement. Germany had stopped importing Russian gas before the attack, but Nord Stream was an extremely contentious issue for the European Union and NATO from the start.

3) Swinging left

Vice President Kamala Harris has taken control of the presidential race, according to a top analysis group.

What happened: The Cook Political Report updated its Swing State Project Survey. Harris is now leading or tied with former President Donald Trump in six of seven battleground states, according to the pollsters.
The data: Harris now leads in Arizona, Michigan, North Carolina, Pennsylvania and Wisconsin, according to Cook. Trump leads in Nevada and the candidates are tied in Pennsylvania. Harris has a 48-47 lead nationally as well.
Big picture: The North Carolina poll is an outlier, as Trump leads the state in most highly-regard surveys. But Harris' edge grows in most states when independent candidate Robert F. Kennedy Jr. is polled and the surveys suggest she has a potential path to victory without sweeping the critical Midwest states, something President Joe Biden did not have.

Quick Tips

U.S. News

Convicted killer Alex Murdaugh could receive a new trial in South Carolina. The state's Supreme Court has agreed to hear an appeal alleging the court clerk tampered the jury in the high-profile case, which received national attention (More)
Cleanup crews became sick following the Norfolk Southern derailment near East Palestine, Ohio. A report said workers reported headaches and nausea while dealing with contaminated creek areas; the findings were never made public despite community pressure (More)
Two women were struck by lightning near Horseshoe Bend at Arizona's Glen Canyon National Recreation Area. The National Park Service said the visitors were airlifted to a hospital in Utah; their condition was not disclosed (More)

World News

Japanese Prime Minister Fumio Kishida will resign amid a slush funds scandal that has roiled the ruling Liberal Democratic Party. Thailand's Constitutional Court ousted PM Srettha Thavisin for ethical violations (More | More)
Russia is reportedly sending forces stationed in Kaliningrad to repel Ukraine's incursion. It is not clear how many troops were recalled from the Baltic Sea enclave, which borders NATO members Lithuania and Poland (More)
Canada's wildfires last year produced almost 10 years worth of blaze emissions. The fires generated over 2B tons of carbon dioxide and are expected to have health impacts for decades (More)

Campaign News

Former President Trump will hold a news conference this afternoon at his New Jersey golf club. Vice President Harris still has not given an interview since becoming the Democratic nominee (More)
Minnesota Gov. Tim Walz agreed to an Oct. 1 vice presidential debate hosted by CBS. Ohio Sen. J.D. Vance, the Republican VP candidate, has not committed; Trump has already said he will debate Harris three times (More)
A suspect was named in the break-in at a Trump campaign office in Virginia. The Loudoun County Sheriff's Office said it has an arrest warrant for Toby Shane Kessler on a burglary charge; it is unclear if the man took anything or had a political motive (More)

Business & Markets

Major indexes closed higher yesterday. Inflation was up 0.2% MoM and 2.9% YoY in July, further setting the stage for the Federal Reserve to cut interest rates next month (Dow +0.61%, Nasdaq +0.03%, S&P 500 +0.38%).
Big Lots will close over 300 stores, about a quarter of its locations nationwide. The discount retailer has said its future is in "significant doubt" amid financial woes (More)
DraftKings dropped a customer surcharge plan in states with high taxes on sports betting. The reversal came after rival FanDuel announced it would not follow suit, causing its share price to jump (More)

Entertainment & Sports

Disney wants a wrongful death lawsuit tossed because the deceased had a free Disney+ trial. A New York man is suing after his wife died of an allergic reaction at a Disney World restaurant; the entertainment giant says user terms for the streaming service require the matter be settled out of court (More)
The Traitors was renewed for two more seasons ahead of its upcoming third season. Tony Award winner Alan Cumming will remain the host of the popular Peacock reality contest show (More)
Elon Musk and J.K. Rowling are mentioned in a criminal cyberbullying complaint filed by Olympic boxing champion Imane Khelif in France. The Tesla CEO and Harry Potter author were critical of the Algerian athlete, whose gender became a controversy during the Paris Games (More)

Quick Hitters

Feel Good: A library in Liverpool was set ablaze during the recent wave of riots in the United Kingdom. Over 11K people have since raised $270K for necessary repairs.
Fun Stuff: If you need a lift, watch this video of a German Shepherd and a Retriever scaling a fence and instantly becoming friends after the latter moved into the neighborhood
Deep Dive: Microbes are all over our skin. While that sounds unsettling, the tiny bacteria, fungi and more play a critical role in our health and well-being.
Take Note: A spoonful of sugar helps the medicine go down. And a splash of honey in your Greek yogurt can boost your gut health.
Life Hack: A new study found there is a simple way to de-escalate a fight with your significant other. The tip? Take a five-second pause; that short break is often enough to bring the temperature down.

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