Yellow | Misunderstanding or Misinformation

imported_lazylarry

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At our terminal there seems to be a few guys who I think are misinformed and Im sure you guys can answer this question. Did YRC ever say they would pay back all these past months (soon to be 18 to be exact..) of pension contribution or are they excused totally from ever paying those months and MAYBE......will start paying again in December. We have a guy that thinks they are selling terminals to pay back all those months which would give him some sort of a plateau that hes trying to reach in terms of years and age so he can retire. (like any day when YRC supposedly writes a check and he gets like a years credit). I told him he was full of crap and would be lucky if he ever gets a single cent added to his pension again with YRC. Whos right whos wrong ?
 
You're right and he's wrong. YRC got an 18 month break from paying and they are not required to pay it back. I suppose we'll be voting on a new agreement before the end of the year which will go into effect on Jan. 1, 2011. That's if they're still in business and to tell you the truth i'm starting to believe they may be pulling this thing off. What barn are you from? This is really old news and i'd think anyone would have wanted to know this from the beginning.
 
Sorry lazylarry but the person is half right ! The half he or she is right about is YRCW made no payments BEFORE the MOU about the pension ! The are suppose to make good on Millions that they owe the pension funds from the first of the year up until the time the MOU ( for pension ) was sign and went into effect . THe funds where given property liens ( in some cases ) as collateral and we all know what happen to the properties .
 
[quote author=R-14Driver link=topic=82413.msg851639#msg851639 date=1280197200]
Sorry lazylarry but the person is half right ! The half he or she is right about is YRCW made no payments BEFORE the MOU about the pension ! The are suppose to make good on Millions that they owe the pension funds from the first of the year up until the time the MOU ( for pension ) was sign and went into effect . THe funds where given property liens ( in some cases ) as collateral and we all know what happen to the properties .
[/quote]Now your clouding the issue. :chairshot: Company made payments for three months, three more months were deferred with a promise to make whole. No mater what happens we got credit for that time per my pension fund (CS... can't say for the Left Coast). It really means nothing to us if they ever get that money or not. And I'm getting a retirement check that includes that 6 months. Lazy has a handle on how it will effect the poor guy that thinks he's gonna magically get to retire on time. Lazylarry, do him a favor and hide all the sharp objects around the place. :hyper:
 
I was told (and no it wasn't on the CB or in the break room) that the Union and the Company were in meetings recently, trying to figure out a calculation/formula that would repay our lost pension contributions in small increments. The way that it was explained to me was that in January,2011, their plan was to reinstate our pension in full, and also add extra into the fund to slowly repay what we have lost over the last 18 months.

Am I optimistic that it will happen? NO
Could it happen? Yes

But the profits need to improve immediately. If everything stays as is......Neither will ever get repaid in my opinion.
 
[quote author=Northern Flash link=topic=82413.msg851663#msg851663 date=1280199100]
I was told (and no it wasn't on the CB or in the break room) that the Union and the Company were in meetings recently, trying to figure out a calculation/formula that would repay our lost pension contributions in small increments. The way that it was explained to me was that in January,2011, their plan was to reinstate our pension in full, and also add extra into the fund to slowly repay what we have lost over the last 18 months.

Am I optimistic that it will happen? NO
Could it happen? Yes

But the profits need to improve immediately. If everything stays as is......Neither will ever get repaid in my opinion.
[/quote]If you had brought this up in Feb or March I would have blamed it on Cabin Fever. :poke: Now I don't know what to think. Sure would be nice tho. :popcorn:
 
[quote author=wolf link=topic=82413.msg851670#msg851670 date=1280199581]
If you had brought this up in Feb or March I would have blamed it on Cabin Fever. :poke: Now I don't know what to think. Sure would be nice tho. :popcorn:
[/quote] I'll believe it when it takes place, but it is kind of interesting. I think that everyone would welcome that kind of outcome.
 
[quote author=R-14Driver link=topic=82413.msg851639#msg851639 date=1280197200]
Sorry lazylarry but the person is half right ! The half he or she is right about is YRCW made no payments BEFORE the MOU about the pension ! The are suppose to make good on Millions that they owe the pension funds from the first of the year up until the time the MOU ( for pension ) was sign and went into effect . THe funds where given property liens ( in some cases ) as collateral and we all know what happen to the properties .
[/quote][quote author=wolf link=topic=82413.msg851656#msg851656 date=1280198433]
Now your clouding the issue. :chairshot: Company made payments for three months, three more months were deferred with a promise to make whole. No mater what happens we got credit for that time per my pension fund (CS... can't say for the Left Coast). It really means nothing to us if they ever get that money or not. And I'm getting a retirement check that includes that 6 months. Lazy has a handle on how it will effect the poor guy that thinks he's gonna magically get to retire on time. Lazylarry, do him a favor and hide all the sharp objects around the place. :hyper:
[/quote]

Thank you for making my point . I highlighted what you said in red isnt that what I said also ? :poke: :stir: Come here big guy does this help :grouphug: :biglaugh:
 
[quote author=R-14Driver link=topic=82413.msg851689#msg851689 date=1280201562]
Thank you for making my point . I highlighted what you said in red isnt that what I said also ? :poke: :stir: Come here big guy does this help :grouphug: :biglaugh:
[/quote]Maybe its my math......... "first of the year up until the time the MOU".......are you not implying 6 months I think. Mou pension cessation was 18 months to resume Jan 2011. Three months we agree on what happened to the other 3 months. 18 months plus 3 months subtracted from Jan 2011 does not get us back to the "FIRST OF THE YEAR" I said..... that you ment...... ::shit:: I'm so confused. :beerchug:
 
[quote author=wolf link=topic=82413.msg851696#msg851696 date=1280204091]
Maybe its my math......... "first of the year up until the time the MOU".......are you not implying 6 months I think. Mou pension cessation was 18 months to resume Jan 2011. Three months we agree on what happened to the other 3 months. 18 months plus 3 months subtracted from Jan 2011 does not get us back to the "FIRST OF THE YEAR" I said..... that you ment...... ::shit:: I'm so confused. :beerchug:
[/quote]

Some ( yours ) where paid ,some ( mine ) where not paid for all of the first 3 months of the year . Now does that make make it more confusing . The problem I found out is some members ( myself ) where made WHOLE ( out west 500 hours where paid ) by the fund itself YRCW didn't pay the total first three months on everyone the missed some people here and there ( like always ) and the funds paid for those people themselves and YRCW said they would make those payments whole and they still haven't .

To add a little bit more out west the companies pay up to 2080 hours into our pension per year . You might work a full month in Jan and Feb ( 320 hours ) but they might only pay in 40 hours each month . What they do is hold on to the money untill things are going good ( usually late summer ) and they make up the payments to get you back on track with your hours . That's the way they have always done it out west not by tour counts but by the hour .
 
[quote author=lazylarry link=topic=82413.msg851596#msg851596 date=1280190655]
At our terminal there seems to be a few guys who I think are misinformed and Im sure you guys can answer this question. Did YRC ever say they would pay back all these past months (soon to be 18 to be exact..) of pension contribution or are they excused totally from ever paying those months and MAYBE......will start paying again in December. We have a guy that thinks they are selling terminals to pay back all those months which would give him some sort of a plateau that hes trying to reach in terms of years and age so he can retire. (like any day when YRC supposedly writes a check and he gets like a years credit). I told him he was full of crap and would be lucky if he ever gets a single cent added to his pension again with YRC. Whos right whos wrong ?
[/quote]

Your right....he is full of crap...or something else!....KK
 
18 months - no credit no payback. Previous to the 18 month deal, the Deferred Pension Payments that were guaranteed by real estate - docks is supposed to be paid back, starting in October, this year. Good luck with that. They owe over 100 million.
 
[quote author=Northern Flash link=topic=82413.msg851663#msg851663 date=1280199100]
I was told (and no it wasn't on the CB or in the break room) that the Union and the Company were in meetings recently, trying to figure out a calculation/formula that would repay our lost pension contributions in small increments. The way that it was explained to me was that in January,2011, their plan was to reinstate our pension in full, and also add extra into the fund to slowly repay what we have lost over the last 18 months.

Am I optimistic that it will happen? NO
Could it happen? Yes

But the profits need to improve immediately. If everything stays as is......Neither will ever get repaid in my opinion.
[/quote] I, for one, would like to know where they plan to get 155mil for the three mos. they owe, and, come up with approx. 30mil per mo. after... don't hold your breath!
 
I agree with your thoughts 100% my friend, but don't you worry because as we speak, Billy Z and Uncle Jimmy are working on a plan to fix our pension problems!!! Assume the position boys!!! :stir: :rant: :chairshot: :hissy: :buttkisser:
 
I guess Yrcw will have to open up that pocket purse from China.operations there are alot better than here

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