You are NOT giving us the real numbers. Look at ABFS 2012 annual Report page 30. In 2008 revenue was $1,833,052,000 with income of $29,168,000. Fast forward to 2011 (after the huge down turn) and revenue was $1,907,609,000 with income of $6,159,000. In 2012 revenue was $2,065,999,000 and loss revenue -7,732,000. What happened? Oh, that right, the Panther $80,000,000 down payment. And, all this time paying dividends of over $3,000,000 per year. Let’s see, in 2012 ABFS lost $7 million, paid $80 million for Panther, and 3 million in dividends. And Judy and Roy received 3,000 and 3,100 shares respectively of ABFS stock for brokering the deal.
ABF | One irrefutable fact
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You are NOT giving us the real numbers. Look at ABFS 2012 annual Report page 30. In 2008 revenue was $1,833,052,000 with income of $29,168,000. Fast forward to 2011 (after the huge down turn) and revenue was $1,907,609,000 with income of $6,159,000. In 2012 revenue was $2,065,999,000 and loss revenue -7,732,000. What happened? Oh, that right, the Panther $80,000,000 down payment. And, all this time paying dividends of over $3,000,000 per year. Let’s see, in 2012 ABFS lost $7 million, paid $80 million for Panther, and 3 million in dividends. And Judy and Roy received 3,000 and 3,100 shares respectively of ABFS stock for brokering the deal.
Oh-ya, I agree 100%.
Of course you can. ODFL is an LTL outfit just like ABF and YRC. We all compete for the same freight.
They've been getting a different class for awhile now but I agree with your point only its about to take another step lower.Corporate America along with our government has shown repeatedly that they don't care who's driving the Trucks as long as they are moving as cheap as they can get away with.Scan the accident board and guess the IQ and ability to read English on some of the accidents on there. Take a look at the CR England posted today.Do you really want this guy behind your wife,your kids?Well if this contract goes through drivers like that will be operating ABF equipment! I'm one of the ones who would lose my 3rd week and it looks like I'll lose this years too with my date being after 3/31. I look at that and some of the other concessions they have in there and wonder is this retribution for turning down the last 15%? You've left us no choice but to vote no.For me there wasn't alot that had to be changed maybe met midpoint on a few of the issues but having the IBT wanting to bring us down to some where near YRC's level I guess that was never gonna happen.
YRC took away a week vacation + more then you have been asked to give and have been closing terminals since.
How insecure must you already be to be to threatened by a few who do not share your enthusiasm going in. You should have fear you should be intimidated if you had any sense. You may be terminated. Jobs are at stake. It could be yours. It's not if job loss will happen it's how many and what terminals will close. The vacation issue will cut over $7,000,000 of cost out of the equation. Share holders are rejoicing. That will happen. Are you that naive that you think a simple no vote will make them go away?
Big difference between the way the way YRC concessions was handled by the union is 25,000 jobs were at stake. A company does not function well with billion dollar losses and billion dollar debt. Only YRC teamsters realized this and voted yes the first time. The IBT would not accept the no votes from New Penn or Chicago based teamsters who voted twice. Hoffa took away Chicago's white paper contracts and YRC worked around them and closed a large Chicago terminal that later reopened but threatened to close terminals permanently. Chicago caved. They threatened to close New Penn and end-tail them behind YRC with the unions full support. New Penn caved. Ask Crazy he was there too.
ABF is in no danger of closing but there will be job loss yes or no. If YRC buys you and that's a big if you will be decimated like YRC was decimated. They kid you not. stop shouting
Sorry your scare tactics will not work with me. Fear will not change my mind. Show me facts, show me where and how the company lost the money they have claimed..... I am not worried about YRC buying us, they have their own problems.... You keep comparing ABF TO YRC. They are 2 completely different companies. YRC MANAGEMENT CAUSED ALL THEIR OWN PROBLEMS. THE COMPANY AND THE IBT LIED TO YRC TEAMSTERS, I bet you if it was to happen again it would turn out differently..... just saying.
You talk about terminals closing, guess what Terminals will close no matter if this contract is passed or not. This contract is not just about money, it is about workers rights, job loss to NON UNION COMPANIES, vacation loss, just to start with
Tell me what company do you work for and what is your position. I bet you don't even work for ABF....
Since there is a conflict of figures, whose figures are correct yours or ABFS?.
Ask Crazy you say Joe...It was a bluff
you know it ,I know it and the men caved.. And if I remember correct you were 100% behind management.. Things never seem to change with you... You got yours and that is all that is important to you...As far as ABF goes,they are not even close to being in the financial mess that YRC is still in.. I believe that this TA is nothing more than breaking the NMFA as now there will be no one in it..The race to the bottom continues... I know quite a few ABF guys and they all think the same way..Like you Joe, I am not a party to this contract but I do know how I would vote..It is up to the ABF guys to vote however they feel will do best for them and their families..
nothumbleenough
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I know you say you also study numbers and you and I have been to this same point before. Revenues increases don't mean anything when expenses increase at a greater rate which is the case with ABF. Panther added value and debt to ABC. The suggestion ABF is somehow profitable is an argument of an uninformed man. The links provided show net income. Net income whether it be from ABC, old dominion or Conway paints a pretty accurate story which is why I provided the same info from different companies.
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You seem to relate to fear a lot. I don't see this a having balls issue. No one really knows how others vote not even the vote counters or union will know. Where does guts play a role when voting? It's really a personal thing. I find it ignorant to ask how people are voting or tell others how to vote. Only yahoos do it. I respect your right to vote no for what ever reason.
Correct that YRC and ABF have different degrees of fiscal woes but ABF may or may not close terminals. One of ABF's selling points is 5 star service. Service would be impacted if forced to close terminals. Surely they would lose business doing it. The contract is about money only, to be more competitive only. Losing what jobs to NON UNION COMPANIES? I don't know where you're coming from on that. No driver will stay home while contractors are doing your work. If a terminal in not adequately staffed or has a driver shortage is when they sub work out to a 6% max on miles if verified. There has to be a process in place to verify it's done right.
The lost week vacation is a killer. Correct I don't work for ABF. I'm just an industry observer. My real job is professional gambler. I don't make what your making but I get 52 weeks vacation a year.
When this vote has passed one way or the other we will all drive off into the sunset and return 2015 and do it againnothumbleenough
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Apples to apples. Net income of ABF and net income of its competitors. All net income numbers come from said companies and are accurate because those same companies go to the capital markets for funding.
ABF says they lost 265 million in that same period and they say they had a negative net income of 133 million. This is not a contradictory statement. This has lots more to do with the tax laws that lesson the impact of losses for corporations.
you have no idea what you are talking about
Really? Tell me where I'm wrong.
roadkill340
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As a yrc employee in Chicago heights i would like to know which terminal was closed and then reopened? Also 710 dock voted no 3 times and then had the white paper torn up.Check your facts,don't spread hafftruths,and let every brother vote their conscience.
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They closed the Chicago Ridge and reopen it 3 years later according to an article.
roadkill340
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Ridge still closed,where and when did you read this article.obviously you do not reside in the Chicago area or are not in the freight business
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Okay, the Ridge is still closed and you voted no 3 times not 2. I stand corrected. You are there I am on the east coast
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One irrefutable fact, concessionary bargaining is related to recession and the intensification of competitive pressure on unionized carriers. 7.6 % unemployment rate = 11.8 million out of work,
We have an ad on Craigslist for 8 weeks now 1 person applied.... Nobody wants to do this anymore .... Especially at a depressed rate & vacation time....