As stated, the difference in labor costs is probably the biggest factor contributing to stock price. Couple that with the fact that the ArcBest umbrella has 5 different divisions within it while I think Old Dominion operates as a single business entity, this also reflects in the price. Most so called stock analysts will argue labor costs as a negative influence. Not going to start a union versus non union debate here, but from the employment side of things, I'll take the union compensation any day of the week.
Had a driver from a small LTL carrier at a pickup last week ask me how life was at ABF... I replied "besides the overwhelming amount of :
: freight we handle, it isn't too bad". He told me he just got on with this carrier because he was making a couple of dollars more per hour and his family benefits cost dropped to $65 a week but his out of pockets were all higher. I told him what our compensation was and he thought I was joking with him. I told him to look the contract up online if he didn't believe me, that it was all there in black and white. He asked if we were hiring and I told him to go online and look. But I did remind him that he would be doing a lot of residential deliveries and a ton of what would feel like unconventional deliveries along with being :: on every day until he ever gained some seniority. He was still in shock that our healthcare was company paid...
Moral of the post... Don't let the stock numbers play with your head. We have what we have because it was fought for. If any other driver at any other company is happy with what they got, so be it. Some don't know that there might be better out there, some don't know what trade offs there might be or if it is worth it or not. I would not be working at ABF if the hourly pay was lower or our healthcare was outrageous. Totally not worth it to me. Stock analysts don't give a crap about the workers making the company what it is... They care that the numbers look good enough to invest in. Employers that are doing everything they can to under compensate their employees will reflect on their bottom line. I won't buy stock in any company that craps on their employees like that... Probably why I don't get into the stock market.
Had a driver from a small LTL carrier at a pickup last week ask me how life was at ABF... I replied "besides the overwhelming amount of :
: freight we handle, it isn't too bad". He told me he just got on with this carrier because he was making a couple of dollars more per hour and his family benefits cost dropped to $65 a week but his out of pockets were all higher. I told him what our compensation was and he thought I was joking with him. I told him to look the contract up online if he didn't believe me, that it was all there in black and white. He asked if we were hiring and I told him to go online and look. But I did remind him that he would be doing a lot of residential deliveries and a ton of what would feel like unconventional deliveries along with being :: on every day until he ever gained some seniority. He was still in shock that our healthcare was company paid...Moral of the post... Don't let the stock numbers play with your head. We have what we have because it was fought for. If any other driver at any other company is happy with what they got, so be it. Some don't know that there might be better out there, some don't know what trade offs there might be or if it is worth it or not. I would not be working at ABF if the hourly pay was lower or our healthcare was outrageous. Totally not worth it to me. Stock analysts don't give a crap about the workers making the company what it is... They care that the numbers look good enough to invest in. Employers that are doing everything they can to under compensate their employees will reflect on their bottom line. I won't buy stock in any company that craps on their employees like that... Probably why I don't get into the stock market.