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Excerpts from the Portland Business Journal:
The Port of Portland Commission on Wednesday approved paying up to $4.6 million to the company that operates the Terminal 6 container yard to cover excess costs associated with an ongoing labor dispute involving longshore workers.
The decision was almost immediately criticized by the International Warehouse and Longshore Union, which described the program as subsidy payments to a profitable multi-million-dollar global organization.
“The Port is subsidizing operational costs and replacing supposed lost revenues for a private company whose net profit was $35.4 million in the first quarter of 2012,” Leal Sundet, ILWU Coast Committeeman, said in a news release. “Subsidizing a company that made over $130 million dollars in profits last year alone is irresponsible and corrupt stewardship of public assets.”
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PORTLAND, OR (August 8, 2012) – Yesterday, the Port of Portland made a last minute addition to the agenda for today’s Port of Portland Commission Meeting. In a move that the Port characterized as a “Cost-Sharing Agreement Between the Port of Portland and ICTSI Oregon, Inc.,” Port officials proposed to allocate $4,664,356 to ICTSI to off-set “a portion of ICTSI’s incremental operational costs and lost revenues.”
Today, by a margin of 6 to 1, Port Commissioners approved a $4.7 million payout of public funds to private company and Terminal 6 tenant ICTSI. ICTSI is the global terminal operator that leased Terminal 6 from the Port two years ago when the Port made the strategic decision to privatize the terminal and get out of the terminal operating business.
According to Bill Wyatt, Port Executive Director, the $4.7 million dollar cash infusion “helps ICTSI remain viable”, a statement that makes no sense given ICTSI’s 2012 first quarter profits.
“The Port is subsidizing operational costs and replacing supposed lost revenues for a private company whose net profit was $35.4 million in the first quarter of 2012,” said Leal Sundet, ILWU Coast Committeeman. “This is...
From the Oregonian:
The Port of Portland proposes to pay as much as $4.7 million to the operator of its container terminal to cover losses from longshore labor problems, though the Port boss calls it “a complete waste” and a longshore union leader describes it as an abuse of public funds.
But Port managers want their commissioners to approve the payment today, saying they want to cover some of the losses incurred by ICTSI Oregon Inc., which operates the terminal where labor disputes have backed up cargo this summer.
Port commissioners will consider the proposed payment of as much as $4,664,356 during their monthly public meeting today [Wednesday, August 8] at 9:30 a.m. in the Port’s headquarters, 7200 N.E. Airport Way.
Leal Sundet, an ILWU coast committeeman, issued a statement blasting the payment.
“The Port of Portland has no business using taxpayer dollars to subsidize private enterprise,” Sundet said. “The Port is not an operating partner with ICTSI, and ICTSI should be fully responsible for its operations, including labor relations, which is part of doing business in a competitive environment.”
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