September 30, 2002
Economist will comment on costs of W. Coast port shutdown
David Hummels, an international economist, is doing research on the cost of time in transporting goods internationally. He can discuss the lockout of West Coast longshoremen by shipping lines and the ripple effects in the economy.
"Every day in shipping is worth 1 percent of the final price of goods," says Hummels, an associate professor of economics in Purdue University's Krannert School of Management.
"In goods that have a high rate of technological obsolescence, such as consumer electronics products, the depreciation rate goes up to 2.5 percent per day."
Hummels uses the term "fragility" to describe businesses' reliance on the global supply chain.
CONTACT: Hummels, (765) 494-4495, email@example.com.