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Yellow | Hot off the fax 07/09/09 Teamsters and YRCW reach tentative agreement

Jeff

Jeff

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BEFORE YOU ASK.....NO, I do not know the details as of yet!
If you noticed the press release said ....." Details of theTenative Agreement will be made available to the membership after being explained to Local Union leaders early next week."......KK
 
Thanks to all the people who send me information to get the news out to the members....
Thats why Truckingboards is #1 at what we do... Lots of copycat sites out there, easy to build a website, any idiot that can read can do that... Hard part is getting thousands of users and keeping them.
 
trucker999 said:
I should have bought stock yesterday,
Click to expand...

Some bought in yesterday to ride the stock upward. The tenative agreement helped it alot today. The price of the stock 7 days ago was $1.69. I think the stock will rise to that mark; possibly slightly higher,but I don't see it breaking $2.00 until after the after the concessional vote comes back with a positive outcome for YRC.

Pay attention to the last paragraph. By that statement, I fear what is coming in the concession agreement. Possible wage cut, Pension freeze,and loss of sick days; which is unproductive an has no return for the company.

Some of the things that MAY be in there could be such as new OT rules. Such as forcing Employees to max thier hours every week when needed; that way they don't have to recall anyone.
 
Kennesaw Kid said:
BEFORE YOU ASK.....NO, I do not know the details as of yet!
If you noticed the press release said ....." Details of theTenative Agreement will be made available to the membership after being explained to Local Union leaders early next week."......KK
Click to expand...
But again, the agreement will be voted on, correct?

The IBT statement spoke of "shared sacrifice" and "addresses the Company’s immediate cash concerns and long-term competitiveness while protecting Teamster members’ jobs and benefits once the company returns to profitability".

So to me, that means reduced benefits until YRC can be dug out of this hole we're in. DS.
 
hot off the press

the statment says 35,000 teamster employees, what happened to the other 14000. I just read an article yesterday that states yrcw has 49000 teamster members.

bp
 
trucker999 said:
nobody knows whats in there rv,so why stir the pot, thats how rumors get started ,wait and see.
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I only stated what I thought might happen. - Therefore that is a fact not a rumor. - If I would to have put "I heard that..." That would be spreading a rumor.

I am fairly sure that the YRC will not close in the next month. - I feel that they will have to file if they don't get VERY DEEP CONCESSIONS from us.
If they do not get further concessions, I feel they will be here to somewhere into next summer before being shuttered.

The sad part about what MAY happen, is that they will get the concessions. With that they will go on a price war with other LTL companies. - Now, not only do we lose our benefits,but Fedx,OD,Conway and other Non union carriers will take the same away from thier employees to match YRC.
Do you know who that is going to hurt ? ABF, UPSF and other Teamster freight company. that won't be able to cut on a whim to match pricing.
If by some miracle, YRC stays open and operating in some sort of profitability; Do you think they will be able to pay contract rates in 2013 ? - Wouldn't that put that back into the same situation as now? - I truly do want to see YRC grow and become profitable again. - I would like to be recalled also. - But at what cost ??

The only way I could agree with the vote is that ALL Monies given back in wages and benefits be used to pay down debt. NO CUTBACKS IN PRICING. - YRC could be virtually debt free by 2013 if they did just that. Remember that the 10% giveback is good for almost 1 BILLION dollars by the end of the contract. That's 1/2 thier debt alone; not including any other concessions. Another 2 years of not paying into the pension.... another 1 billion saved. With thier debt being at about 2 billion; they just paid it off. Remember that is just from our concessions. PURE SAVINGS or profit how ever you want to look at it.

That likely won't happen, because YRC exec's will continue to take more and more aslong as it is there to take.

As far as waiting ..... WHY ? IBT can post it on thier website almost as fast as they can type it up and blast fax it. O just incase you didn't notice I am very pessimistic person.
 
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