Yellow | Local 707

That is a good report Treman530. Reality is the hammer that hurts the most. It is hard to tell anyone to prepare for the future after the first warning of pension failure, but counting on a failing pension is not the smart way to keep going. I am in Central States and they wanted us to take cuts NOW to the PBGC level, and then loose all when the plan fails. We got a pass on the cuts for now, but the fund will eventually go dry. The stories of the ones in the report you put on here is real and people should listen and start to adjust their spending habits on the reality as you just put forth. Thank you again for the report. Sad times may be right around the bend. Hang in there my friend and brother.
 
That is a good report Treman530. Reality is the hammer that hurts the most. It is hard to tell anyone to prepare for the future after the first warning of pension failure, but counting on a failing pension is not the smart way to keep going. I am in Central States and they wanted us to take cuts NOW to the PBGC level, and then loose all when the plan fails. We got a pass on the cuts for now, but the fund will eventually go dry. The stories of the ones in the report you put on here is real and people should listen and start to adjust their spending habits on the reality as you just put forth. Thank you again for the report. Sad times may be right around the bend. Hang in there my friend and brother.
The only thing you can do is to prepare yourself for this in any way possible. I sat there and saw this coming from before the 9-11 attacks. I got started with 401K before that even. I don't know if my efforts will be enough. I live in the worst state in the union to retire in. For it to be the worst state to retire in it also means the worst state to work in. It doesn't get any worse than this. You work all your life and when it comes to the end you literally have to sell everything and move away just to survive. The governors only solution to everything is to raise taxes. It doesn't end. I am screwed to the eyeballs with few options. I continue to work to protect my family. I care about nothing and no one else. Such is life.
 
Question is ,so where was the Union & Hoffa , years ago NOT seeing a problem coming ? Bottom line is the union people in charge of managing all these funds dropped the ball years ago ,to let it get this far out of control ! Few mistakes too was letting UPS out of fund and the 25 & out they did and plus letting other smaller companies out of fund too ! But good news is that Hoffa & his good old boys club stay at full pension !!
 
The crisis is deepening, and there are no solutions in the immediate future. I won't pretend that I have any viable solutions that will be acceptable to everyone. Government cannot be relied on to "bail" out ANY funds. I think that if a sympathetic Administration can be elected at the federal level, which would have to include the President and Congress, then perhaps changes to Social Security including withholding could be enacted. If the "cap" on withholding were removed, and all income regardless of source would be treated equally in taxing; then perhaps there could be increases in Social Security benefits. FICA withholding should be on all earnings, people whose income is derived primarily from wages should NOT be punished for not having the financial resources to be invested heavily in stocks and money market funds. The calculations for withholding rates should also be progressive. Meaning the more your income is the higher the withholding rate. Simple, common sense changes such as these would certainly be beneficial.
 
The crisis is deepening, and there are no solutions in the immediate future. I won't pretend that I have any viable solutions that will be acceptable to everyone. Government cannot be relied on to "bail" out ANY funds. I think that if a sympathetic Administration can be elected at the federal level, which would have to include the President and Congress, then perhaps changes to Social Security including withholding could be enacted. If the "cap" on withholding were removed, and all income regardless of source would be treated equally in taxing; then perhaps there could be increases in Social Security benefits. FICA withholding should be on all earnings, people whose income is derived primarily from wages should NOT be punished for not having the financial resources to be invested heavily in stocks and money market funds. The calculations for withholding rates should also be progressive. Meaning the more your income is the higher the withholding rate. Simple, common sense changes such as these would certainly be beneficial.
I have no solutions either other than figuring out what to do to protect the people you love. The government clearly shows us where their priorities are and they are not with the working middle class. They could care les is we all dropped dead out here. Find something or someway to put something away for your family. I don't know if the 401K is the answer. If the debt in this country continues to rise then that money will be in peril too. Like it or not, when the government cannot pay its own bills they will come after you. There is no answer here.
 
Question is ,so where was the Union & Hoffa , years ago NOT seeing a problem coming ? Bottom line is the union people in charge of managing all these funds dropped the ball years ago ,to let it get this far out of control ! Few mistakes too was letting UPS out of fund and the 25 & out they did and plus letting other smaller companies out of fund too ! But good news is that Hoffa & his good old boys club stay at full pension !!
Where is the union with the 15%? We are supposed to have two Teamster on the YRC executive board. When was the last time you saw a report on how the debt is being paid down with this money? We have been at this for 8 years now, not one single word on how much of the debt has been paid down or where this money is going to. Anybody from the local or from the International watching this? Plenty of money for communication devices which don't work. Plenty of money for dash cams which are going to be used to hang the drivers but nothing for new equipment. We are still driving the junk from 2000. Old broken doors and older tired out tractors but not a word about whether or not the debt has been paid down. Where are you IBT?
 
http://www.nydailynews.com/new-york...ming-pension-fund-runs-cash-article-1.2982433

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:chairshot:
 
When enough get tired of the SOS it will change !
But you have got to have the membership behind the change !
What change? All the change and all the membership involvement isn't going to change anything. The funds need massive amount of money to pay these members and there is no way possible to get it from anywhere or anybody
 
Where is the union with the 15%? We are supposed to have two Teamster on the YRC executive board. When was the last time you saw a report on how the debt is being paid down with this money? We have been at this for 8 years now, not one single word on how much of the debt has been paid down or where this money is going to. Anybody from the local or from the International watching this? Plenty of money for communication devices which don't work. Plenty of money for dash cams which are going to be used to hang the drivers but nothing for new equipment. We are still driving the junk from 2000. Old broken doors and older tired out tractors but not a word about whether or not the debt has been paid down. Where are you IBT?

Treman530, we do not have Teamsters on the BOD. The IBT was allowed to nominate up to two candidates to the board.

"Under the YRCW restructuring in 2010, the Teamsters National Freight Industry Negotiating Committee (“TNFINC”) is permitted to “nominate” up to two individuals to serve as “independent” directors on YRCW’s Board of Directors. As “independent” directors, the individuals nominated by TNFINC would be prohibited by applicable securities laws and regulations from being beholden to TNFINC or, for that matter, the IBT and its Local Unions.

After thorough consideration, TNFINC has nominated William R. “Bob” Davidson to serve on YRC Worldwide’s Board of Directors to fill a seat that was vacated earlier this year. Mr. Davidson has nearly four decades of experience in various operational and labor relations capacities with ABF, Roadway and YRCW. He started his career in the trucking industry working on the docks for ABF in Dayton, Ohio.
<snip>
It is important for all of us to remember that, under federal and state securities laws, the responsibility of the Board of Directors “is exercising governance as representative of the Company’s stockholders so as to promote the success performance of the Company.” It is our belief that that Mr. Davidson will carry out this responsibility through the lens of having worked, managed, negotiated and interacted with Teamsters and their representatives at all levels with various trucking companies and will be sensitive to issues affecting our members as well as those which relate to the overall business operations of the Company. For these reasons we believe Mr. Davidson is an outstanding candidate for the YRCW Board of Directors."

https://teamster.org/news/2014/07/teamsters-nominate-bob-davidson-yrcw-board-directors

As far as any reports on paying down the debt, that information has been publicly available in the all SEC filings for YRCW and in the yearly stockholder reports. They have paid down a portion of the long term debt if you care to read the filings/reports. Still a long way to go for sure but they have made progress in that area.

As far as the dash cams, they protect drivers and the company from frivolous lawsuits by proving we drivers were not at fault in many accident cases where it's a he-said/she-said type situation. I don't particularly like them myself, I've produced too many "movies" already, but I do see where they can be beneficial to all of us in the long run.
 
Where is the union with the 15%? We are supposed to have two Teamster on the YRC executive board. When was the last time you saw a report on how the debt is being paid down with this money? We have been at this for 8 years now, not one single word on how much of the debt has been paid down or where this money is going to. Anybody from the local or from the International watching this? Plenty of money for communication devices which don't work. Plenty of money for dash cams which are going to be used to hang the drivers but nothing for new equipment. We are still driving the junk from 2000. Old broken doors and older tired out tractors but not a word about whether or not the debt has been paid down. Where are you IBT?

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:bananapartyhat:
 
Where is the union with the 15%? We are supposed to have two Teamster on the YRC executive board. When was the last time you saw a report on how the debt is being paid down with this money? We have been at this for 8 years now, not one single word on how much of the debt has been paid down or where this money is going to. Anybody from the local or from the International watching this? Plenty of money for communication devices which don't work. Plenty of money for dash cams which are going to be used to hang the drivers but nothing for new equipment. We are still driving the junk from 2000. Old broken doors and older tired out tractors but not a word about whether or not the debt has been paid down. Where are you IBT?
I am not by any means sticking up for anyone here,but.The 4th quarter,2016 report stated the debt was reduced by approximately 40 million last year, and currently stands at just below 1 billion dollars. The cost of the dash cams is minimal, new technology is needed to improve operations,service,and to try and stay close to the competition. And if you have been here for any length of time,you know linehaul gets any new equipment before p and d..and yes,I too drive a 2000 Volvo daily...
 
Treman530, we do not have Teamsters on the BOD. The IBT was allowed to nominate up to two candidates to the board.

"Under the YRCW restructuring in 2010, the Teamsters National Freight Industry Negotiating Committee (“TNFINC”) is permitted to “nominate” up to two individuals to serve as “independent” directors on YRCW’s Board of Directors. As “independent” directors, the individuals nominated by TNFINC would be prohibited by applicable securities laws and regulations from being beholden to TNFINC or, for that matter, the IBT and its Local Unions.

After thorough consideration, TNFINC has nominated William R. “Bob” Davidson to serve on YRC Worldwide’s Board of Directors to fill a seat that was vacated earlier this year. Mr. Davidson has nearly four decades of experience in various operational and labor relations capacities with ABF, Roadway and YRCW. He started his career in the trucking industry working on the docks for ABF in Dayton, Ohio.
<snip>
It is important for all of us to remember that, under federal and state securities laws, the responsibility of the Board of Directors “is exercising governance as representative of the Company’s stockholders so as to promote the success performance of the Company.” It is our belief that that Mr. Davidson will carry out this responsibility through the lens of having worked, managed, negotiated and interacted with Teamsters and their representatives at all levels with various trucking companies and will be sensitive to issues affecting our members as well as those which relate to the overall business operations of the Company. For these reasons we believe Mr. Davidson is an outstanding candidate for the YRCW Board of Directors."

https://teamster.org/news/2014/07/teamsters-nominate-bob-davidson-yrcw-board-directors

As far as any reports on paying down the debt, that information has been publicly available in the all SEC filings for YRCW and in the yearly stockholder reports. They have paid down a portion of the long term debt if you care to read the filings/reports. Still a long way to go for sure but they have made progress in that area.

As far as the dash cams, they protect drivers and the company from frivolous lawsuits by proving we drivers were not at fault in many accident cases where it's a he-said/she-said type situation. I don't particularly like them myself, I've produced too many "movies" already, but I do see where they can be beneficial to all of us in the long run.
As far as I can tell, the debt has not been paid down. Eight years and according to what I have seen in the financial reports this company is in just as much debt as it was in 2009. Again, nothing from the International about this. Dash cams? Back into a tight stop and come close to the car across the street. Set off the camera because it reads it as a close call and now you have to explain yourself. Did you have an unreported accident here? .
 
As far as I can tell, the debt has not been paid down. Eight years and according to what I have seen in the financial reports this company is in just as much debt as it was in 2009. Again, nothing from the International about this. Dash cams? Back into a tight stop and come close to the car across the street. Set off the camera because it reads it as a close call and now you have to explain yourself. Did you have an unreported accident here? .
Your last 2 sentences tell me you are just throwing things out there,and actually do not have a clue....
 
I am not by any means sticking up for anyone here,but.The 4th quarter,2016 report stated the debt was reduced by approximately 40 million last year, and currently stands at just below 1 billion dollars. The cost of the dash cams is minimal, new technology is needed to improve operations,service,and to try and stay close to the competition. And if you have been here for any length of time,you know linehaul gets any new equipment before p and d..and yes,I too drive a 2000 Volvo daily...
In a few more years your Volvo can get these license plates?!

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:grin:
 
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