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Both sides of B.C. port strike now considering mediator’s recommended deal

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A federal mediator appointed to help bring an end to the B.C. port strike has delivered their recommendations to both sides of the dispute, meaning the parties are now on deadline to respond on Thursday morning at the latest.

A spokesperson for Federal Labour Minister Seamus O’Regan confirmed to CBC News that the mediator had handed over their recommended settlement at 10:30 a.m. PT.

The International Longshore and Warehouse Union (ILWU) and the B.C. Maritime Employers Association now have 24 hours to decide whether to ratify the deal in principle — that is, until 10:30 a.m. PT Thursday.

O’Regan appointed the mediator Tuesday after deciding the sticking point in negotiations wasn’t enough to justify the ongoing strike.

A red overhanging sign above a road is lit up with the words "CLOSED" in front of a port full of colourful shipping containers.
‘Closed’ signs are seen at the Centerm Container Terminal as striking ILWU Canada workers picket at the Port of Vancouver on Tuesday. (Darryl Dyck/The Canadian Press)

About 7,400 dock workers have been on strike since July 1, halting cargo in and out of more than 30 ports in B.C., including Vancouver — Canada’s busiest.

The strike so far has cost an estimated $5.5 billion, based on industry body Canadian Manufacturers & Exporters’ calculation of about $500 million in disrupted trade every day.

The ticking clock on the mediator’s recommendation could mark the beginning of a resolution for the strike, but business owners have said the current backlogs will still take weeks to sort out.

B.C. port strike parties deliberating after labour minister’s ‘forceful nudge’

 

Federal Labour Minister Seamus O’Reagan says he’s confident both sides will agree to the terms to help bring an end to the ongoing B.C. port strike.

In an interview with David Cochrane on CBC’s Power and Politics, O’Regan characterized the move to ask for the mediator’s recommendations as a “forceful nudge” for both parties.

“I am very confident that when the members of both sides see this, see the terms, that they will see the deal that they have created and this will end,” he said.

In response to various premiers’ calls for back-to-work legislation, O’Regan said that good labour deals took time and he did not want to swing around legislation “at the drop of a hat.”

“It’s not like these two weeks were in vain. They worked extremely hard to arrive at what they have been presented with,” the minister said. “It’s just that sometimes you can’t see the forest for the trees.”

Business owners worry about impact

Further delays will affect the bottom line, according to some business owners.

“My stress level gets higher and higher as each day goes on. I really, really would like this to end yesterday so we can at least feel like some of this mess is going to get cleaned up in the next month or so,” said Andrea Crackwell, who owns Pine Lighting Victoria.

“I’ve got six people that rely on me for their paycheques — they’re like a family to me, and I’d do anything for them — but it gets hard to figure out how to keep them making enough money to survive.”

ILWU, which is representing the workers, said they’re fighting for jurisdiction over maintenance and protections against contracting out and automation, as well as pushing for higher wages.

 

What the B.C. port strike means for Canada

 

Workers at ports across B.C. are on strike. We break down why it’s happening and what it means for you and for Canada’s economy.

The union said the B.C. Maritime Employers Association (BCMEA) is refusing to give a fair pay increase despite making billions of dollars in profits in recent years. The BCMEA says it is negotiating in good faith while blaming the strike for damaging trade and the economy.

Issues like the cost of living, port automation and outside contracting were the main points of contention when ILWU workers went on strike.

In statements late on Monday, both sides blamed each other for failing to reach a new deal. The association said its proposals to address ILWU Canada’s demand to expand the union’s jurisdiction over regular maintenance work on terminals were rejected by the union.

A white man points his finger while standing among a group of people.
Federal Labour Minister Seamus O’Regan says he has asked a federal mediator to provide recommendations for settlement within a day after deciding the two sides are not far enough apart to justify prolonging the strike. (Justin Tang/The Canadian Press)

 

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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