Yellow | Will we close?

dokman

TB Veteran
Credits
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No! They will first file bankrupcy to shed the debt, then they will merge all together to cut head count both union and non. This is my thought on what they have planned after reading investor statements and filings. The voting process is just a way to blame the union if they get a no vote. This is just my thought.
 
A no vote closes the company. No debate.
Also you ABFers on here should be very concerned that your company has not asked for a revote on concessions , this is very ominous as ABF continues to lose money and clearly cannot compete with the competition now and certainly not in the future. You ABF people should be sending letters and making phone calls to urge a resumption of concession talks. Before it is too late.
 
I am very concerned, as are most, if not all, of my coworkers. In general our opinion is that YRC is a dead horse that needs to be buried and that continuing to concede to its demands is detrimental to all of the rest of us.
 
Ahh but if you bury the dead horse , how will ABF be able to meet it's pension contribution requirements ? Better get on those concession talks, fast !
 
Bankruptcy closes the place. Too many carriers for customers to pick from, too little freight in this bad economy. Lose the customers, lose the business.

No way to 'dump the debt' and continue. All the terminals are already given away, the equipment barely has scrap value considering the new EPA Laws. Just a very, very bad time to be so far in debt.
 
I really get a charge out of these posts. #1 They have done a bankrupty with out filing one. Facts they have swaped dept for equity. They make deals with the banks, Not a judge. #2 It is what it is. #3 These changes are not that big a deal. They just get everyone on the same page. #4 If you guys can forsee into the future could you please give me the Power Ball #s three time in a row. ( So I can buy the company. NOT !!!!!! )
 
Ahh but if you bury the dead horse , how will ABF be able to meet it's pension contribution requirements ? Better get on those concession talks, fast !

Sadly our Teamster pensions are not doing well and their future looks grim. I say lets cut bait and move on there.
 
PBGC here we come ! Even at 30 % and spousal option canceled , this will cost America billions ! With the amount of the pension funds unfunded liabilities in Americas future I would not be surprised at all to see the PBGC folded into the SS admin at much less even then 30 %. 2000 per month retirement is in all our futures , Im afraid. Even you old guys who have been retired a long time. Better get your finances in order. Nothing is guaranteed in life except your death.
 
It looks like a yes vote buys another year and maybe a re-vote is in the language for New Penn
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Servicer Defaults

The ABS Amendment provides that a Servicer Default (as defined in the ABS Facility) will occur if, among other things,: (i) prior to ratification of the IBT Agreement, the IBT notifies the Company that the IBT Agreement has not been ratified and the IBT Agreement will not be submitted for a re-vote; (ii) the IBT Agreement shall not be in full force and effect after it has been ratified; or
(iii) the Co-Agents do not consent prior to a restructuring of the Company.
assuming they let New Penn revote


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we can only hope the abfer poster who posted twice that YRC should exit so they may exist is not really an abfer..just a troll like all the trolls who spring up around the voting season and relentlessly push the man thing and the stand proud and tall garbage hoping to sway people to do what they think others are doing

oh well, what the hell..it's a dog eat dog world out there
 
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voting season???????? is that every 6 months just to give more away ????
ps we think fr8 is managment and we know there are less jobs for the paper pusher types than labor ?
jay c ......just a troll like all the trolls who spring up around the voting season and relentlessly push the man thing and the stand proud and tall garbage hoping to sway people to do what they think others are doing


sounds like a retirie we know whos oh so worried that he will lose his reguardless of what we do
 
voting season???????? Is that every 6 months just to give more away ????
Ps we think fr8 is managment and we know there are less jobs for the paper pusher types than labor ?
Jay c ......just a troll like all the trolls who spring up around the voting season and relentlessly push the man thing and the stand proud and tall garbage hoping to sway people to do what they think others are doing


sounds like a retirie we know whos oh so worried that he will lose his reguardless of what we do
:6788: :drama:
 
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Democracy is a weak system because the stupid are allowed the same vote as those of us with intelligence. Oh well , weakest link and all that...
 

voting season???????? is that every 6 months just to give more away ????
ps we think fr8 is managment and we know there are less jobs for the paper pusher types than labor ?
jay c ......just a troll like all the trolls who spring up around the voting season and relentlessly push the man thing and the stand proud and tall garbage hoping to sway people to do what they think others are doing


sounds like a retirie we know whos oh so worried that he will lose his reguardless of what we do

what me worry about me?
images

naw..I don't think so
I gotta post the letter I got from the fund..
just to prove it's not about me
"The amount you receive cannot be altered by anyone"
what I worry about is you guys..that fact that you
may have to work till your 70 to get paid
that is if you don't burn the joint down
 
what me worry about me?
images

naw..I don't think so
I gotta post the letter I got from the fund..
just to prove it's not about me
"The amount you receive cannot be altered by anyone"
what I worry about is you guys..that fact that you
may have to work till your 70 to get paid
that is if you don't burn the joint down

Only if the fund remains solvent. Once Obamas people get control of it , all bets are off.
 
Only if the fund remains solvent. Once Obamas people get control of it , all bets are off.

negative, that's one thing Obama isn't going to ruin. The funds are in much better shape then social security or medicare or the deficit. Central States has what $19B?

who do you think will get paid first? If you guessed retirees you're right
Central States was a little too aggressive with the stock market bets and lost a few mil
so they'll be making safe bets now to shore up the fund

the New England Fund made some changes to save millions for years to come
the teamster union, the funds and YRC will be around long long time
th_beer_drinking.gif

copy?
 
negative, that's one thing Obama isn't going to ruin. The funds are in much better shape then social security or medicare or the deficit. Central States has what $19B?

who do you think will get paid first? If you guessed retirees you're right
Central States was a little too aggressive with the stock market bets and lost a few mil
so they'll be making safe bets now to shore up the fund

the New England Fund made some changes to save millions for years to come
the teamster union, the funds and YRC will be around long long time
th_beer_drinking.gif

copy?

what percent of the incoming moneys to the central states funds are by freight teamsters? I believe it's about 40% or more. What happens if those monies stop coming in?
 
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