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XPO | Xpo Union Thread.

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boomer55 said:
There still could be defined pensions XPO makes plenty of money to pay for it
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Why do you think that? Just because Jacobs is a billionaire? Have you ever looked at what that might cost?

According to the Bureau of Labor Statistics, it cost about $2.42 per employee for a defined pension in transportation in 2015. Now, just to do some back-of-a-napkin math, there's what, 25,000 LTL employees at XPO? If they average about 45 hours a week, you're talking about over 140 million dollars annually- I don't think we even hit 200 million in profit last year. And those costs aren't static - they've gone up over 30 percent in just 7 years. That's not sustainable for a lifetime- that's why you can't have one.

https://www.bls.gov/opub/btn/volume-5/pdf/trends-in-employer-costs-for-defined-benefit-plans.pdf
 
sucker666 said:
I was wondering if you could explain to everyone here how the union leadership can direct our money being it dues (federally audited) or contractually agreed upon and directed retirement money and funnel it into and ailing pension fund? I'm particularity interested In the government rules that allow this to be done. (in detail how this could legally be done)
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See, that's the problem with you would-be XPO Teamster guys. You're thinking WAY ahead of yourselves. I didn't say they would renege on a contract- you don't have a contract. (And you won't, but that's another post.)

All they have to do is get you to put it in your contract. You think you're on top of the world right now because you've had one bargaining session. How confident will you be in a year? 3? 5? Crazy things seem less crazy after a long stalemate. If you think the union or 50 percent plus one of your brothers won't sell you up the river to get what they want just as fast as the big corporation you're so scared of, you're really not paying attention.
 
Serene Gene said:
Why do you think that? Just because Jacobs is a billionaire? Have you ever looked at what that might cost?

According to the Bureau of Labor Statistics, it cost about $2.42 per employee for a defined pension in transportation in 2015. Now, just to do some back-of-a-napkin math, there's what, 25,000 LTL employees at XPO? If they average about 45 hours a week, you're talking about over 140 million dollars annually- I don't think we even hit 200 million in profit last year. And those costs aren't static - they've gone up over 30 percent in just 7 years. That's not sustainable for a lifetime- that's why you can't have one.

https://www.bls.gov/opub/btn/volume-5/pdf/trends-in-employer-costs-for-defined-benefit-plans.pdf
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Can't figure it that way only based on 40 hr's per week and /or 5 punch's a week Not based on how many hrs over 40
 
00mustang said:
Can't figure it that way only based on 40 hr's per week and /or 5 punch's a week Not based on how many hrs over 40
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I'm not sure what you're saying. The numbers I used from the BLS come from total costs divided by total hours worked- see the link. (If anything, the number I got is too low because not all of the hours the BLS used are from employees that actually get the benefits.) Admittedly, it's a rough estimate, but I think the point is valid.
 
Serene Gene said:
See, that's the problem with you would-be XPO Teamster guys. You're thinking WAY ahead of yourselves. I didn't say they would renege on a contract- you don't have a contract. (And you won't, but that's another post.)

All they have to do is get you to put it in your contract. You think you're on top of the world right now because you've had one bargaining session. How confident will you be in a year? 3? 5? Crazy things seem less crazy after a long stalemate. If you think the union or 50 percent plus one of your brothers won't sell you up the river to get what they want just as fast as the big corporation you're so scared of, you're really not paying attention.
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You didn't answer my question. No one would agree to putting such of wording in a contract and your smarter than that to suggest such a thing .
 
Serene Gene said:
Why do you think that? Just because Jacobs is a billionaire? Have you ever looked at what that might cost?

According to the Bureau of Labor Statistics, it cost about $2.42 per employee for a defined pension in transportation in 2015. Now, just to do some back-of-a-napkin math, there's what, 25,000 LTL employees at XPO? If they average about 45 hours a week, you're talking about over 140 million dollars annually- I don't think we even hit 200 million in profit last year. And those costs aren't static - they've gone up over 30 percent in just 7 years. That's not sustainable for a lifetime- that's why you can't have one.

https://www.bls.gov/opub/btn/volume-5/pdf/trends-in-employer-costs-for-defined-benefit-plans.pdf
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So it works with are European Xpo entities but it can't here. Also if I remember right it was working quite well when we were Con-way. Also I have to go back and check but wasn't Mr Jacobs bonus last year was in the 20 million range alone not counting the other officers. There's a big difference in don't want to fund a pension and not being able to afford it. The money is there it just how its divided. There are many option also other than a pension that would also benefit us much better than the 401k with small match that we have now.
Xpo can continue to offer the bare minimum retirement package but they shouldn't expect to be able to attract quality drivers and management for that matter. Its not sustainable and possible to be the best and offer the least.
 
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As Chief Executive Officer and Chairman at XPO LOGISTICS INC, Bradley S. Jacobs made $5,771,722 in total compensation. Of this total $495,000 was received as a salary, $2,325,000 was received as a bonus, $0 was received in stock options, $2,948,108 was awarded as stock and $3,614 came from other types of compensation.

Bradley S. Jacobs - Salary.com
www1.salary.com/Bradley-S-Jacobs-Salary-Bonus-Stock-Options-for-XPO-LOGISTICS-INC.html


You gotta remember this guy is super stupid rich. He don't take a pay check like the rest of us. He's going to get paid his money after he makes the sale. Just like your boy Dougie did.
 
highspeeds said:
As Chief Executive Officer and Chairman at XPO LOGISTICS INC, Bradley S. Jacobs made $5,771,722 in total compensation. Of this total $495,000 was received as a salary, $2,325,000 was received as a bonus, $0 was received in stock options, $2,948,108 was awarded as stock and $3,614 came from other types of compensation.

Bradley S. Jacobs - Salary.com
www1.salary.com/Bradley-S-Jacobs-Salary-Bonus-Stock-Options-for-XPO-LOGISTICS-INC.html


You gotta remember this guy is super stupid rich. He don't take a pay check like the rest of us. He's going to get paid his money after he makes the sale. Just like your boy Dougie did.
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He was awarded $19,999,992 in stock. His salary $607,000 his cash bonus was $1,375,000 for a total of $1,982,000 . His total compensation package for 2016 was $21,984,448
 
shamrockhockey said:
ZKwMyuF.jpg
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Here is a pic of the sign that you saw from I- 83
I found it on Google.
If you Google map it. it looks like it became a trailer storage yard
 
Wow, all of you bitching out what Brad makes. This is a free country and you had every right to do what he did. Instead you choose to be a truck driver while he choose to build companies. You became the worker while he strived to be the owner and now you mad at him for it. Do I agree with everything that he is doing? No! Yet we all forget he is the one that can up with 3 billion to buy Con-way and when you spend that kind of money you have ever god given right to do with as you please. What was your offer?
 
Serene Gene said:
Why do you think that? Just because Jacobs is a billionaire? Have you ever looked at what that might cost?

According to the Bureau of Labor Statistics, it cost about $2.42 per employee for a defined pension in transportation in 2015. Now, just to do some back-of-a-napkin math, there's what, 25,000 LTL employees at XPO? If they average about 45 hours a week, you're talking about over 140 million dollars annually- I don't think we even hit 200 million in profit last year. And those costs aren't static - they've gone up over 30 percent in just 7 years. That's not sustainable for a lifetime- that's why you can't have one.

https://www.bls.gov/opub/btn/volume-5/pdf/trends-in-employer-costs-for-defined-benefit-plans.pdf
Click to expand...
You cap the hours you pay on. Most company's pay on about 2000 hours a year per employee for the pension. Not every hour worked for the year.
 
boomer55 said:
So, Is that ok with you? There still could be defined pensions XPO makes plenty of money to pay for it
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upnorth said:
They could. Is it ok with me? Yep. I've been self directing my retirement since I started with the company. I wouldn't bet my retirement on a company taking care of me.
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I agree with upnorth on this. I do not what a company running a pension for me I would rather they give me the money and let me invest it, so when I retire I know what I got and not worry about a pension that may or may not be funded.
 
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Serene Gene said:
See, that's the problem with you would-be XPO Teamster guys. You're thinking WAY ahead of yourselves. I didn't say they would renege on a contract- you don't have a contract. (And you won't, but that's another post.)

All they have to do is get you to put it in your contract. You think you're on top of the world right now because you've had one bargaining session. How confident will you be in a year? 3? 5? Crazy things seem less crazy after a long stalemate. If you think the union or 50 percent plus one of your brothers won't sell you up the river to get what they want just as fast as the big corporation you're so scared of, you're really not paying attention.
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So how long has it been for Miami???
 
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