The ILA began picket lines early this morning after the contract expired at midnight. The strike impacts 36 ports, all East and Gulf Coast. Currently the US Maritime Association (USMX for some reason) is in negotiations with the International Longshoremen’s Association. There hasn’t been an ILA (East/Gulf Coast ports) strike since 1977. That has led…

Bureau of Industry and Security has imposed a civil penalty of ~$150,000 on Quantum Corporation for alleged violations of antiboycott provisions of the EAR. Quantum is a data storage, management, and protection company that received requests from a UAE distributor to refrain from importing Israeli goods into the UAE to fulfill their purchase orders. Quantum…

The Federal Trade Commission announced 9/18 that the CEO of GameStop will be paying nearly $1m to settle charges that his acquisition of Wells Fargo shares violated the Hart-Scott-Rodino (HSR) Act. The CEO’s acquisition was above the threshold of HSR filing requirements, but he didn’t file with the antitrust agencies and wait the required waiting…

Treasury sanctioned more than a dozen vessels and entities for their involvement in shipment of Iranian crude oil and petroleum gas to Syria and East Asia on behalf of Hezbollah and the Islamic Revolutionary Guard. Read More