Published: Oct 11, 2011 12:44 PM EDT

NEW YORK (AP) - NBA Commissioner David Stern has made good on his threat to cancel the first two weeks of the season unless a new labor agreement was in place by Monday.
 
Stern truncated the season following seven hours of negotiations between the league and the union Monday. He says both sides are very far apart on virtually all issues.
 
Owners locked out the players July 1 when they couldn't reach a deal before the expiration of the old collective bargaining agreement. Opening night was scheduled for Nov. 1.
 
The cancellations mark the NBA's first work stoppage since the 1998-99 season was reduced to 50 games.