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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 6,800,000
Close 2024-10-02 C$ 40.81
Market Cap C$ 277,508,000
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Globe/AP say Walmart sees Luddites refusing technology

2024-10-03 08:13 ET - In the News

See In the News (C-WMT) Walmart CDR (CAD Hedged)

The Globe and Mail reports in its Thursday edition that the massive port workers' strike that has shut down all the major dockyards on the Eastern seaboard of the U.S. and the Gulf coast is highlighting a fear held by many workers: Eventually, we will be replaced by machines. An Associated Press dispatch to The Globe says that the International Longshoremen's Association, which represents approximately 45,000 dock workers who walked off the job Tuesday, is testing whether it is possible to fight back. The union is demanding, along with hefty pay raises, a total ban on the automation of gates, cranes and container-moving trucks in its ports. It is unclear whether they will be able to stave off a trend that has seeped into virtually every workspace. The growth of automation and technological advances have created tension between workers and management since the Industrial Revolution, and with the growing use of artificial intelligence, the group of jobs workers perceive as threatened with disruption is ever-widening. "You cannot bet against the march of technology," said Yossi Sheffi, director of the MIT Center for Transportation & Logistics. "You cannot ban automation, because it will creep up in other places."

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