CEA Applauds West Coast Port Agreement; Urges Quick Ratification of Contract; Calls On Port Authorities, Workers And Bush Administration To Remain Diligent Of Other Potential Port Disruptions

Business Wire, Nov 25, 2002

Business Editors

2003 International CES

ARLINGTON, Va.--(BUSINESS WIRE)--Nov. 25, 2002

The following statement was issued today by Consumer Electronics Association (CEA) President and CEO Gary Shapiro in response to the announcement that the longshoremen's union and shipping companies have reached agreement on a new contract that would effectively end the West Coast port dispute:

"We applaud both management and the longshoremen's union for reaching this historic agreement and remain hopeful that this marks an end to the ongoing port dispute. We call on the union and its members to review and ratify this contract as quickly as possible so we can return a measure of certainty to consumer electronics companies and others who rely on goods moving efficiently through West Coast ports.

"Our industry recognizes and greatly appreciates the leadership provided by the Bush administration in invoking its powers under the Taft-Hartley Act to reopen the ports and bring labor and management back to the negotiating table.

"The high-tech industry is among those most affected by a halt in shipping through West Coast ports. Based on information from its members and analysis by the association's market research department, CEA estimates that 70 percent of imported consumer technology products enter the U.S. through West Coast ports. In terms of dollar sales, 56 percent of all consumer technology products sold in the U.S. enter through ports on the West Coast.

"To that end, and with more than $28 billion of consumer electronics goods imported annually, we urge shipping companies, the related unions, the Bush administration, Congress and all other interested parties to work together to guard against potential port disruptions. These include not only labor disputes but also terrorist acts, labor shortages, cargo theft and weather disasters. Any of these could have a severe impact on our industry, resulting in declining inventories, fluctuating prices and higher overall costs for the economy. Our industry looks forward to working with the federal government and all interested parties to address these concerns."

About CEA:

The Consumer Electronics Association (CEA) represents more than 1,000 corporate members involved in the design, development, manufacturing, distribution and integration of audio, video, mobile electronics, wireless and landline communications, information technology, home networking, multimedia and accessory products, as well as related services that are sold through consumer channels. Combined, CEA's members account for more than $80 billion in annual sales. CEA's resources are available online at www.CE.org, the definitive source for information about the consumer electronics industry.

CEA also sponsors and manages the International CES - Defining Technology's Future. All profits from CES are reinvested into industry services, including technical training and education, industry promotion, engineering standards development, market research and legislative advocacy.

UPCOMING EVENTS

2003 International CES - Defining Technology's Future January 9-12, 2003, Las Vegas, NV

Electronic House Expo - Spring February 26-March 1, 2003, Orlando, FL

CEA 2003 Winter Technology & Standards Forum February 24-February 28, 2003, Scottsdale, AZ 2003

CEA Winter Summit March 4-6, 2003, St. Regis Aspen, Aspen, CO

HDTV Summit & the Academy of DTV Pioneers 2002 Awards March 10, 2003, Renaissance Hotel, Washington, DC

Asian Home Electronics Fair May 14-17, 2003, Shanghai, China

7th Annual Consumer Electronics CEO Summit June 18-20, 2003, Vail, CO

CEA 2003 Summer Technology & Standards Forum August 1-4, 2003, Location TBA

CEA Industry Forum & Fall Conference September 14-17, 2003, Carlsbad, CA