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Time Is Money

Oct 4, 2024 • 5 min read

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U.S. Port Strike Resolution
Earth’s Second Moon Activity

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U.S. Port Strike Resolution:

The U.S. port strike, which began on October 1, 2024, ended after two days with a tentative agreement between the International Longshoremen’s Association (ILA) and the U.S. Maritime Alliance (USMX). The agreement includes a 62% wage increase over the next six years, raising the top hourly wage from $39 to $63. This figure was less than the 77% wage increase the union initially demanded but exceeded the 50% offered by the Maritime Alliance. The deal also included an extension of the current labor contract until January 15, 2025, allowing additional time to negotiate unresolved issues such as the use of automation in port operations.
The strike, which shut down major East and Gulf Coast ports, including New York and Houston, threatened to significantly disrupt the U.S. economy. These ports handle nearly half of the country’s maritime trade, and estimates suggested the strike could have cost billions of dollars per day in lost economic activity. Industries heavily dependent on timely imports and exports, such as retail, automotive, and energy, were particularly concerned about delays caused by the shutdown. By reaching an agreement quickly, the union and management were able to prevent long-term damage to supply chains and avoid further disruptions during the busy shipping season.
Although the wage issue has been resolved, the question of port automation remains contentious. The agreement delays discussions on automation until early 2025, giving both sides time to prepare for a debate over how technology will impact the future of port operations and dockworker jobs. This compromise allows for a return to normal port activities while ensuring that critical issues will be revisited in the near future.

Earth’s Second Moon Activity:

Earth has recently pulled a small asteroid, designated 2024 PT5, into its orbit starting on September 29, 2024. This asteroid, approximately 33 feet in diameter, belongs to the Arjuna group of asteroids, which have orbits that closely mirror Earth’s around the sun. Due to its close proximity and relatively slow velocity, Earth’s gravitational field has altered its path temporarily. However, the asteroid will not complete a full revolution and will leave Earth’s orbit by November 25, 2024, continuing its journey around the sun.
Though scientifically intriguing, 2024 PT5 is not visible to the naked eye due to its small size and faint brightness. Observing it requires a large telescope, at least 30 inches in diameter. These “mini-moon” events, while relatively common and occurring several times per decade, are significant for astronomers, as they offer a unique opportunity to study how such near-Earth objects interact with Earth’s gravitational forces. Once it exits Earth’s orbit, 2024 PT5 is expected to return in 2055.
Events like this allow scientists to collect valuable data on the behavior and dynamics of small celestial bodies, contributing to both our understanding of asteroids and the development of planetary defense strategies. As scientists study objects like 2024 PT5, they are also improving our ability to detect and track potentially hazardous asteroids. The U.S. relies on systems like NASA’s Planetary Defense Coordination Office (PDCO) and powerful telescopes such as Pan-STARRS and NEOWISE, which specialize in locating near-Earth objects (NEOs).
These observatories scan the skies for asteroids that could come close to Earth, allowing for early detection and monitoring. Once identified, technologies like NASA’s Double Asteroid Redirection Test (DART) can be deployed to redirect an asteroid by impacting it, as was successfully demonstrated in 2022. Future methods, such as gravity tractors or laser ablation, are also being explored to provide alternative means of deflecting asteroids. These efforts highlight the growing capability to detect, track, and, if necessary, alter the course of celestial objects that may pose a threat to Earth.

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