STDF.MSP.honestlogs
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Yellow freight bought Roadway Express in Dec. 2003, and USF Holland in 2005. Also in 2005 they bought half of a Chinese freight forwarder. August, 2008 they bought 65% of a Chinese logistics company. They bought all these companies with borrowed money and almost went bankrupt in 2010. They still carry a huge debt load.
We know about the dark times 2010 were in the freight business. When STDF Teamsters ratified our concessionairy contract Standard started making profit of 12 cents for every dollar of revenue. 6 or 7 cents is considered very good. Tim Conrad VP of sales at the time was giddy he was so happy.
June 1, 2011 John Ward and his management team sold the company to DHL a multinational corp. with over 450,000 and over €50 billion in revenue. Since I can find nothing to the contrary they probably carry a normal business debt load. Yet they can't afford to pay as well as highly leveraged YRC Corp.
Contracts compared
YRC and Holland
$.52 per mile
$21.04 per hour
Overtime after 8 hours
5 paid sick days
10 holidays
C-6 health and welfare about $15 per week more than our M-9 plan
YRC only pays 25% on the class 18 pension around $78 per week
STDF
$.466 per mile
$19.04 per hour
Overtime after 40 hours
3 paid sick days
8 holidays
M-9 health and welfare at about $300 per week
STDF pays $152.50 per week increasing 4% to $158.60 for the class 16 pension
Broke ass YRC can pay better and make a profit
Financially solid DHL wants to keep our money in their pocket
When DHL bought STDF they said they wanted to be nationwide in 3 to 5 years
Then they revised that to we want to improve our footprint in the territory we already service.
This company has not grown in 4 years and is run the same way today as it was before DHL.
Something for us to think about this weekend when the tentative agreement is revealed.
I'm tired of being treated like a used condom because I want what is fair.
We know about the dark times 2010 were in the freight business. When STDF Teamsters ratified our concessionairy contract Standard started making profit of 12 cents for every dollar of revenue. 6 or 7 cents is considered very good. Tim Conrad VP of sales at the time was giddy he was so happy.
June 1, 2011 John Ward and his management team sold the company to DHL a multinational corp. with over 450,000 and over €50 billion in revenue. Since I can find nothing to the contrary they probably carry a normal business debt load. Yet they can't afford to pay as well as highly leveraged YRC Corp.
Contracts compared
YRC and Holland
$.52 per mile
$21.04 per hour
Overtime after 8 hours
5 paid sick days
10 holidays
C-6 health and welfare about $15 per week more than our M-9 plan
YRC only pays 25% on the class 18 pension around $78 per week
STDF
$.466 per mile
$19.04 per hour
Overtime after 40 hours
3 paid sick days
8 holidays
M-9 health and welfare at about $300 per week
STDF pays $152.50 per week increasing 4% to $158.60 for the class 16 pension
Broke ass YRC can pay better and make a profit
Financially solid DHL wants to keep our money in their pocket
When DHL bought STDF they said they wanted to be nationwide in 3 to 5 years
Then they revised that to we want to improve our footprint in the territory we already service.
This company has not grown in 4 years and is run the same way today as it was before DHL.
Something for us to think about this weekend when the tentative agreement is revealed.
I'm tired of being treated like a used condom because I want what is fair.
