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ABF | that dreaded letter

Distinctly sorry, Brother, to hear it......."An Injury To One Is An Injury To All" used to be a Union watchword.......This is what happens when we let a lawyer ooze his way into our Union,.....I don't care what his name is,.....he's a lawyer (pronounced: LIAR.......as in: You hire a LIAR to go to court for you....).....HOFFA MUST GO 2016
 
canaryinthemine said:
Distinctly sorry, Brother, to hear it......."An Injury To One Is An Injury To All" used to be a Union watchword.......This is what happens when we let a lawyer ooze his way into our Union,.....I don't care what his name is,.....he's a lawyer (pronounced: LIAR.......as in: You hire a LIAR to go to court for you....).....HOFFA MUST GO 2016
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Thanks canary..ill survive but some brothers wont and thats the saddest thing
 
Two events completely changed Teamster pensions in the LTL industry, Deregulation & the 94 strike that put some companies out of business immediately & some later. Government,(Politicians) have the ability to increase taxes to pay for deficit spending but pension funds don't have that option. From some 200 trucking firms paying into the funds to one paying full pension, (ABF) & YRC paying none & now 25%, it can't remain solvent forever.
 
DCM_Doc said:
Two events completely changed Teamster pensions in the LTL industry, Deregulation & the 94 strike that put some companies out of business immediately & some later. Government,(Politicians) have the ability to increase taxes to pay for deficit spending but pension funds don't have that option. From some 200 trucking firms paying into the funds to one paying full pension, (ABF) & YRC paying none & now 25%, it can't remain solvent forever.
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DCM_Doc said:
Two events completely changed Teamster pensions in the LTL industry, Deregulation & the 94 strike that put some companies out of business immediately & some later. Government,(Politicians) have the ability to increase taxes to pay for deficit spending but pension funds don't have that option. From some 200 trucking firms paying into the funds to one paying full pension, (ABF) & YRC paying none & now 25%, it can't remain solvent forever.
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I understand that dcm,
DCM_Doc said:
Two events completely changed Teamster pensions in the LTL industry, Deregulation & the 94 strike that put some companies out of business immediately & some later. Government,(Politicians) have the ability to increase taxes to pay for deficit spending but pension funds don't have that option. From some 200 trucking firms paying into the funds to one paying full pension, (ABF) & YRC paying none & now 25%, it can't remain solvent forever.
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[QUOI didntE="retiredthankgod, post: 972491, member: 34674"]I understand that dcm,[/QUOTE]
But i didnt make the bad investments and making a half million dollar salary while my members froze and sweated their asses off thinking their futures were secure. In the two years since I retired, 8 brothers have died while collecting only two or three years of retirement...3, only 6 months. These are only the guys I know; get the stats nationwide. The ups money disappeared along with all the brothers money paid in and never collected. I disagree with your analogy.
 
One must ask Why have other multi employer funds namely Western Conference done well while Central States is going down the toilet?????
 
DCM_Doc said:
Two events completely changed Teamster pensions in the LTL industry, Deregulation & the 94 strike that put some companies out of business immediately & some later. Government,(Politicians) have the ability to increase taxes to pay for deficit spending but pension funds don't have that option. From some 200 trucking firms paying into the funds to one paying full pension, (ABF) & YRC paying none & now 25%, it can't remain solvent forever.
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Just remember yrc 25% is more than abf full%
 
yellow11 said:
One must ask Why have other multi employer funds namely Western Conference done well while Central States is going down the toilet?????
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Western States had/has a couple of things going for it that others don't. It appears as though CSPF is one of the worst and that Western States is among the best. They obviously had different investment strategies and they were more successful at diversifying their base of contributors. In other words, they seem to have brought more than just freight companies into the fold so they took much less of a beating as freight went down the toilet. It would be interesting to see what the makeup is of their participating companies.
 
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