New York's MarketWatch has reported that ILA dockworkers are readying to strike on December 30. In an email on Sunday, James McNamara, a spokesman for the ILA, indicated that there's "nothing new to report" and the union said its offer to extend the deadline through the end of January has been rejected (the USMX likely refused based on the conditions associated with that offer).

Union members have been advised by their leadership that in the event of a strike, containerized cargo would not be handled, but some mail, military cargo and some perishables will be moved.

The USMX has said that the union's strike would pose "serious consequences for the nation's economy" referencing the 10 day lockout at West Coast ports 10 years ago which cost the US economy an estimated $1 billion per day.

The National Retail Federation, among others, has also voiced concern urging the President to use all options available to him to keep parties at the negotiating table.

Liberty will continue to keep you advised as more information becomes available.