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For Generations of Alaskans, a Livelihood Is Under Threat

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Petersburg, Alaska, is as pretty a seaside town as any you’ll find across the filigree of fjords and foggy islands that make up the state’s maritime coast. Statuary and floral designs evidence its proud Scandinavian heritage, and bald eagles soar across the narrow strait that separates it from a national forest. It doesn’t have room for the giant cruise ships that disgorge thousands of passengers into Ketchikan and Juneau, but it is perfectly situated for its sustaining industry: fishing.Norwegian fishermen settled in Petersburg in the 1800s, finding it an ideal jumping off point to pursue salmon, crab and halibut. Hundreds of vessels now dock in there and sell their catch to the two major processors, which head and gut the fish before either canning or freezing it on its eventual path to the dinner table. One of the plants was built more than a century ago, and its owner is the town’s largest private employer.Few people know the business better than Glorianne Wollen, a fisherman’s daughter who operates a large crab boat in a partnership and also serves as harbor master, working from a tiny desk tucked into a bustling office with a little dog at her feet. A Petersburg native, she’s seen a lot of change.“In the good old days, the town was very alive with discussion, everybody was involved so everybody had a stake, everybody knew what was going on, things happened in real time,” Ms. Wollen recalled. That buzz receded as boats got bigger and more efficient, pursued more species and stayed on the water for more of the year to maximize their investment.“It takes two guys to do what 20 used to,” she said. “There’s just fewer of us.”Petersburg doesn’t have room for the giant cruise ships that dock in other Alaskan cities, but it is perfectly situated for its sustaining industry: fishing“There’s just fewer of us,” said Glorianne Wollen, a Petersburg native and fisherman’s daughter who now serves as the town’s harbor master.The Ranks of Alaska Fishermen Are ThinningAcross all fisheries, the number of people holding permits who harvest fish commercially each year has fallen precipitously since the 1980s.

Source: Commercial Fisheries Entry Commission, State of AlaskaBy The New York TimesSalmon Prices Have Been Mostly Flat for DecadesAdjusted for inflation, prices that fishermen are paid per pound of salmon they deliver to processors rose slightly in the 2010s and took a big hit in 2023.

Source: Alaska Department of Fish and GameBy The New York Times More

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    U.A.W. Expands Strikes at Ford and G.M.

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    The United Automobile Workers union said 7,000 more of its members would walk off the job two weeks after it began strikes at the Big Three automakers.The U.A.W.’s president, Shawn Fain, called on an additional 7,000 workers at Ford and General Motors to go on strike until progress is made at the negotiating table for higher pay and benefits.Bill Pugliano/Getty ImagesThe United Automobile Workers union increased the pressure on Ford Motor and General Motors by extending its strike to two more car assembly plants on Friday, saying the companies had not moved far enough to meet its demands for higher pay and benefits.The move is the second escalation of strikes that started on Sept. 15 at three plants, one each owned by G.M., Ford and Stellantis, the parent of Chrysler, Jeep and Ram. The union said it would not expand the strike against Stellantis this week because of progress in negotiations there.The U.A.W.’s president, Shawn Fain, said workers at a Ford plant in Chicago and a G.M. factory in Lansing, Mich., would walk off the job on Friday. G.M. makes the Buick Enclave and Chevrolet Traverse sport-utility vehicles at the Lansing plant. Ford makes the Explorer, the Police Interceptor Utility and Lincoln Aviator in Chicago.“Ford and G.M. have refused to make meaningful progress at the bargaining table,” Mr. Fain said in a live-streamed video.Ford’s Chicago plant employs about 4,600 U.A.W. members and G.M.’s Lansing plant has 2,300 union workers. Including the workers who walked off the job earlier, more than 25,000 U.A.W. members at the three companies have been called on to stop working. The three automakers together employ nearly 150,000 U.A.W. members.A week ago, workers walked out at 38 spare-parts distribution centers owned by G.M. and Stellantis. The U.A.W. did not expand its strike at Ford because, the union said at the time, it had made significant progress in contract negotiations with that company.The U.A.W. is seeking a substantial wage increase for workers and opened the talks by demanding a 40 percent raise, pointing to the substantial profits all three companies have generated over the last decade and to the size of the pay increases for their chief executives over the last four years.The companies have each offered roughly 20 percent over four years. Ford and the union have reached agreements on some other demands, including cost-of-living adjustments if inflation surges again, and the right to strike if the company closes plants.“Fain is out-negotiating the car companies, and he is having fun making them dance while he calls them names,” said Erik Gordon, a business professor at the University of Michigan who follows the auto industry. “One week he gets Ford to give more in the hope of not being targeted for another closure. The next week he tells Ford they haven’t given enough and closes one of their plants.”Picketing outside Ford’s Chicago Assembly Plant on Friday after the U.A.W. expanded its walkouts to new sites.Taylor Glascock for The New York TimesBut if the companies agree to most of the union’s demands, they could struggle to compete in the fast-growing market for electric vehicles, which is dominated by Tesla, a nonunion automaker, Professor Gordon said. “The union will enjoy big gains for a few years until the companies’ inability to compete causes job losses,” he said.The parties have met regularly, and on Thursday the union presented its latest counteroffer to Stellantis, the union said. Negotiating teams from the U.A.W. and G.M. met on Wednesday in a session attended by Mr. Fain.The union leader’s online remarks on Friday were delayed for nearly half an hour by what he called “a flurry of interest from the companies in addressing some serious bargaining issue.” He did not provide details.Ford’s chief executive, Jim Farley, said on Friday that the company and the U.A.W. were “very close” to a deal but remained apart on potential contract terms for workers at four electric vehicle battery factories the company is building. “If the U.A.W.’s goal is a record contract, they already have that,” he told reporters on a conference call.In the company’s view, discussions about the battery plants should not hold up the negotiations on a new four-year contract because they won’t be completed for two years or more.The U.A.W. sees things differently. Union leaders are concerned that automakers will use the transition to electric vehicles to lower wages and reduce the number of unionized workers they employ.The union wants to include the workers at battery factories owned partly or fully by automakers in their national contracts with the U.A.W. Mr. Fain has said the workers at battery factories are exposed to more dangerous working conditions yet are paid much less than union members at vehicle assembly plants.The automakers have said that they cannot include battery factory workers in their national contracts because most of the plants are set up as joint ventures with foreign companies like LG Energy Solution and SK On.Among the three automakers, only G.M. has started producing batteries, at a plant it jointly owns with LG Energy Solution in Lordstown, Ohio. Ford is building three battery plants in Kentucky and Tennessee with SK On.Ford said this week that it would halt work on another battery plant, wholly owned by the automaker, that it had planned to build in Marshall, Mich. because it was not certain that it could make products there at a competitive price. “We will decide how big or small Marshall will be,” Mr. Farley said, once Ford has a better idea of how much it will cost to make batteries there.Mr. Farley said the start of production at battery plants would not result in the loss of U.A.W. jobs elsewhere at Ford. The company employs 57,000 U.A.W. members, more than at G.M. and Stellantis.In a statement, Mr. Fain disputed Ford’s characterization of the talks. He said that the U.A.W. was waiting for a response from the company to a “comprehensive proposal” the union made on Monday. Mr. Fain said the two sides were still “far apart” on retirement benefits and workers’ job security in the transition to electric vehicles. “Name the time and the place you want to settle a fair contract for our members, and we’ll be there,” Mr. Fain said.G.M.’s chief executive, Mary T. Barra, criticized the union for “upping the rhetoric and the theatrics” and said that the U.A.W.’s leaders had “no real intent to get to an agreement.”“We need the U.A.W. leadership at the bargaining table with the clear intent of reaching an agreement now,” she said in a statement. “For them to do otherwise is putting our collective future at stake.”The U.A.W. president, Shawn Fain, greets union members at the General Motors plant in Lansing, Mich., where workers walked out on Friday.Bill Pugliano/Getty ImagesStellantis said that it had made progress in the talks but that “gaps remain.” The company said it “has been intensely working with the U.A.W. to find solutions to the issues that are of most concern to our employees while ensuring the company can remain competitive.”Tensions on the picket lines have flared this week. The union said five strikers on the picket line suffered minor injuries when they were hit by a car outside a G.M. plant in Flint, Mich. Other confrontations occurred at picket lines in California, Massachusetts and Michigan, the union said.“We will not be intimidated into backing down,” said Mr. Fain, who has frequently compared the strike to a “war on corporate greed.”In a statement on Thursday, Stellantis criticized Mr. Fain’s characterization of the negotiations, and blamed the union for violence, saying that some strikers had slashed tires on trucks and harassed nonstriking employees at parts warehouses.“The deliberate use of inflammatory and violent rhetoric is dangerous and needs to stop,” Stellantis said. “The companies are not ‘the enemy’ and we are not at ‘war.’ We respect our employees’ right to advocate for their position, including their right to peacefully picket. But the violence must stop.”The strategy of striking at only a limited number of locations, but spreading the walkouts to plants owned by all three automakers, is a break from U.A.W.’s traditional approach of idling most or all operations at one company. In 2019, union workers went on strike at G.M. for 40 days before a tentative agreement was reached.Mr. Fain has said the strategy is intended to keep the companies guessing about what parts of their operations would be hit next, in hopes of improving the union’s negotiating position. The first three plants hit by the strike make some of the automakers’ most profitable vehicles, including the Chevrolet Colorado, Ford Bronco and Jeep Wrangler.A limited strike also dents the companies’ profits while limiting damage to their suppliers, local businesses and the national economy.Expanding the strike also increases the financial cost to the union. It is paying striking workers $500 a week out of its $825 million strike fund.Santul Nerkar More

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    Fed Chair Powell in Jackson Hole: Inflation Fight Isn’t Over

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    Jerome H. Powell, the head of the Federal Reserve, struck a resolute tone in a speech at the central bank’s most closely watched conference.Jerome H. Powell kept the door open to future interest rate increases during his speech at the Federal Reserve Bank of Kansas City’s annual Jackson Hole conference in Wyoming.Pete Marovich for The New York TimesJerome H. Powell, the chair of the Federal Reserve, pledged during a closely watched speech that his central bank would stick by its push to stamp out high inflation “until the job is done” and said that officials stood ready to raise interest rates further if needed.Mr. Powell, who was speaking Friday at the Federal Reserve Bank of Kansas City’s annual Jackson Hole conference in Wyoming, said that the Fed would “proceed carefully” as it decided whether to make further policy adjustments after a year and a half in which it had pushed interest rates up sharply.But even as Mr. Powell emphasized that the Fed was trying to balance the risk of doing too much and hurting the economy more than is necessary against the risk of doing too little, he was careful not to take a victory lap around a recent slowing in inflation. His speech hammered home one main point: Officials want to see more progress to convince them that they are truly bringing price increases under control.“The message is the same: It is the Fed’s job to bring inflation down to our 2 percent goal, and we will do so,” Mr. Powell said, comparing his speech to a stern set of remarks he delivered at last year’s Jackson Hole gathering.Central bankers have lifted interest rates to a range of 5.25 to 5.5 percent, up from near-zero as recently as March 2022, in a bid to cool the economy and wrestle inflation lower. They have been keeping the door open to the possibility of one more rate increase, and have been clear that they expect to leave interest rates elevated for some time.Mr. Powell kept that message alive on Friday.“We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective,” he said.But the Fed chair noted that “at upcoming meetings we are in a position to proceed carefully as we assess the incoming data and the evolving outlook and risks,” and that officials would “decide whether to tighten further or, instead, to hold the policy rate constant and await further data.”That suggests that central bankers are not determined to raise interest rates at their upcoming meeting in September. Instead, they might wait until later in the year — they have meetings in November and December — before making a decision about whether borrowing costs need to climb further. Striking a patient stance would give officials more time to assess how the moves they have already made are affecting the economy.“I think this does pave the way for a pause at the September meeting, and leaves their options open after,” said Laura Rosner-Warburton, senior economist at MacroPolicy Perspectives. “We’re close to the top, we may be there, and they’re going to move carefully.”Mr. Powell made clear that the Fed was not in a rush to raise rates again, but he remained cautious about the risk of further inflation.Price increases have come down notably in recent months, to around 3 percent as measured by the Fed’s preferred gauge. That is still higher than the Fed’s 2 percent inflation goal, though it is down sharply from a 7 percent peak last summer.And there are signs of stubbornness lingering under the surface. After stripping out food and fuel for a look at the underlying trend, the central bank’s preferred inflation gauge is still running at about twice the Fed’s goal.“The process still has a long way to go, even with the more favorable recent readings,” Mr. Powell said. “We can’t yet know the extent to which these lower readings will continue or where underlying inflation will settle over coming quarters.”That is partly because the Fed is trying to assess how much its policy adjustments are really weighing on the economy and, through it, inflation.The Fed’s higher borrowing costs have been cutting into demand for cars and houses by making auto loans and mortgages more expensive, and they are probably discouraging business expansions and cooling the job market.But it is unclear just how severely the Fed’s current policy setting is weighing on the economy. Rates are much higher than the level that most economists think is necessary to keep the economy growing below its potential run rate, but such estimates are subject to error.“There is always uncertainty about the precise level of monetary policy restraint,” Mr. Powell acknowledged Friday.That is particularly relevant in the face of recent economic data, which has been surprisingly strong. Consumers continue to spend and companies continue to hire at a solid clip in the face of the Fed’s onslaught. The resilience has caused some economists to warn that there is a risk that the economy could speed back up, keeping inflation elevated.“We are attentive to signs that the economy may not be cooling as expected,” Mr. Powell said. “Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy.”Still, Mr. Powell also emphasized that the economy could be taking time to react to the policy moves already made, and that conditions are unusual in the wake of the pandemic: For instance, job openings have fallen by an unusual amount without pushing up unemployment.“This uncertainty underscores the need for agile policymaking,” he said.Mr. Powell’s counterpart, Christine Lagarde, who heads the European Central Bank, made a similar point about policy in the euro economy and globally during a separate speech at the Jackson Hole conference — though the uncertainties she emphasized were more long term.She underlined that the economy is changing fundamentally as labor shortages span many markets, technologies like artificial intelligence develop, and countries shift away from fossil fuels and toward green energy. And she said that in a changing world, overreliance on models and past data — or expressing too much confidence — would be a mistake.“There is no pre-existing playbook for the situation we are facing today — and so our task is to draw up a new one,” she said. “Policymaking in an age of shifts and breaks requires an open mind and a willingness to adjust our analytical frameworks in real-time to new developments.”But Ms. Lagarde emphasized that it was critical to remain committed to achieving price stability, at the central bank’s current 2 percent inflation target, even in an uncertain world.Mr. Powell seemed to agree. During his own speech, he shot down a growing round of speculation among economists that the Fed could — or should — raise its inflation goal, which would make it easier to hit.“Two percent is and will remain our inflation target,” he said.And he finished the talk with the same line that he used to conclude his speech at last year’s Jackson Hole gathering, which was roundly seen as an aggressive stance against inflation.“We will keep at it until the job is done,” he said.Eshe Nelson contributed reporting. More