“No Givebacks!” ABF Bargaining opens

Discussion in 'ABF Freight System' started by Docker, Dec 19, 2012.

  1. Docker

    Docker Guest

    December 19, 2012: On December 18, ABF management and the International union exchanged bargaining proposals in Kansas City.

    ABF Teamsters have reason to be concerned.

    The corporation has made it clear that they want concessions and with DVDs and captive audience meetings, they are spending time and money trying to soften up ABF Teamsters.

    The Hoffa administration is saying No, which is a good start. But the Hoffa administration has previously shown how easily they fall for concessions. Their record of pension cuts, dividing the Central States Pension Plan, and other give aways has members worried. Two years ago it took a rejection vote by ABF Teamsters to stop a 10% pay cut.

    It’s true that ABF is operating in hard times: the economic recovery in trucking is still slow, but Teamsters have seen that ABF has the money to pay bonuses and salary hikes to top execs, and to buy Panther in 2012.

    “No Givebacks!†ABF Bargaining opens | Teamsters for a Democratic Union
  2. Docker

    Docker Guest

    I have to point out that we rejected a 15% pay cut...it wasn't 10% like the article states.
  3. truxforever

    truxforever Active Member

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    Thanks Docker
  4. Docker

    Docker Guest

    You're welcome truxforever...just trying to keep everyone updated to the latest developments...which I hope that all of us will do if anyone finds out anything new...even if it's a strong rumor...we do have the rumor thread.
  5. truxforever

    truxforever Active Member

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    Docker they keep talking about this 230 mill lost on keepontruckin.com from 2009-2012. I just can come up with that tally. Here is something to think about (Arkansas Best may look rough around the edges now, but let me tell you that I fully expect the next few quarters to turn this rock into a diamond. Currently, Arkansas Best is trading for just 50% of its book value (a steep discount that I alluded to) and what I consider to be an inexpensive 15 times forward earnings.) It dosen"t seem like it is going to be a long recovery, read the rest of the story.

    One Person's Trash Is Another Person's Treasure Selection: Arkansas Best (ABFS)
  6. Docker

    Docker Guest

    I agree truxforever...It's contract time...so they keep crying poor and all of a sudden complain about their high cost structure...just your typical good business sense...can't blame them really. We are the ones that have to remember that they have had only two losing years and that was in very bad economic times and the fact that they have always had that high cost stucture when making millions plus buying other companies for ABC...not ABF.

    I urge everyone to do their own research and come to their own conclusions based on as many facts as they can get their hands on. You sure can't rely on what the company tells you because they have lied as we can all see and we can't even count on what the IBT will tell us because they have lied as well during the beg backs. Don't just take my word either...I just do my own research and come up with my own conclusions and they are just that...my opinions...but I can show anyone how I come to the conclusions that I do.

    Talking about facts and figures...look at this and tell me what you think:


    Now ...check out the annual report:

    Arkansas Best Corporation Balance Sheet - Annual (ABFS)

    That site is very informative...check around...see what it all has to offer...lol
  7. nothumbleenough

    nothumbleenough Member

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    The author cites as his primary reason for liking the stock is its recent purchase of Panther. A company that doesn't own its own trucks. This 180 million dollar transaction is essentially for an asset light company. Do you believe this purchase is good for the rank and file working under a union contract at its subsidiary ABF?
  8. cropduster

    cropduster Active Member

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    Did anyone ever see a panther pulling an ABF trailer yet ??
    And if/when we strike, I would hate to own my own truck crossing a picket line, Not that anything would happen. Just saying.
    Say NO to givebacks !! My brothers
  9. ABFer

    ABFer Well-Known Member

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    I think that that $180 Million purchase is a drop in the bucket and to consider it a primary reason to like ABF is ludicrous to say the least.
  10. Docker

    Docker Guest

    Here's a question for you...just when did you start to give a rat's ass about the rank and file? The company bought it for this reason:



    By the way...get your tail over to the What the non union carriers think of us at ABF thread...you have some unanswered questions there.
  11. Joe the plumber

    Joe the plumber Banned

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    $9.20 [​IMG]
    Why Arkansas Best is trading for just 50% of its book value (a steep discount)

    Bullish is good..Bearish is bad

    ABFS Equity Summary Score:
    Bearish (1.5) Provided by StarMine AS OF 12/18/2012

    ABFS Equity Summary Score Firms
    (i) Independent Firm
    Firm StarMine
    Accuracy Standardized

    Analyst Opinions
    *Jefferson Research (i)
    92 Neutral​
    *EVA Dimensions (i)
    84 Neutral ​
    *Ford Equity Research (i)
    83 Sell​
    *Thomson Reuters/Verus (i)
    62 Sel​
    *Standard & Poor's Equity Research (i)
    53 Outperform​
    *Zacks Investment Research, Inc (i)
    48 Neutral​
    *Columbine Capital Services Inc. (i)
    38 Underperform​
    *Ativo Research (i)
    36 Sell​
    Equity Summary Score
    *Opinion used in Equity Summary Score

    Log in to view all Analyst Opinions for ABFS
    Not a Fidelity Customer?


    buy low sell high​
  12. Docker

    Docker Guest

    Well…if it’s not our friendly neighborhood troll coming back for another visit…Hi…how are you doing Joe? Right back at you good buddy!

    3 Sectors Poised for a Big Rebound in 2013: Part 1

    Secondly, pricing should improve for both general trucking rates and fuel surcharges. This has been an exceptionally volatile year with regard to fuel prices, and I just don't foresee next year offering nearly as wide a swing in prices. With better sector visibility and generally newer fleets, truckers should be able to pass along rising costs more efficiently to their customers. Arkansas Best (Nasdaq: ABFS ) actually did this in June, when it boosted its general rates by 6.9%.

    Finally, most trucking companies are looking to hire. That might seem counterintuitive with shipping demand relatively weak at the moment, but Heartland Express and J.B. Hunt both have alluded to a decrease in net income directly related to a lack of qualified drivers, or because of the search for qualified personnel.This sector is looking to hire and expand; 2013 should be a great year for that to happen.

    My top pick: Arkansas Best

    I've singled out Arkansas Best on a few occasions now because of its incredibly low valuation relative to its peers (just nine times forward earnings) and its ability to pass along price increases to its customers while its larger peers have struggled to do the same. Furthermore, the addition of Panther Expedited in June for $181 million should improve its logistics operations drastically and aid in its efforts to keep costs down. Finally, of Arkansas Best's team of 11 executives, all but two have been with the company for less than 10 years. Cohesive management teams are what create great companies, and I feel Arkansas Best could be in line for a big rebound in 2013.

    The company I'd avoid: YRC Worldwide (Nasdaq: YRCW )
    YRC Worldwide has done everything under the sun to avoid bankruptcy, including a massive secondary offering to raise much needed cash in 2011. With debtors more or less in control of the company, and considering the fact that YRC has not turned an annual profit since 2006, it's a company easily left behind in any trucking sector rally.

    3 Sectors Poised for a Big Rebound in 2013: Part 1 (ABFS, FDX, HTLD, JBHT, MRTN, YRCW)
  13. truxforever

    truxforever Active Member

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    Docker i couldn't have said it better.
  14. Docker

    Docker Guest

    Thanks truxforever...I sure do try...lol
  15. ABFer

    ABFer Well-Known Member

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    What a jackass.
    Peed myself laughing here.
  16. Docker

    Docker Guest

    Do you think that maybe he keeps stumbling into the wrong forum with that Bullish is good..Bearish is bad line...lol

  17. teambro

    teambro Member

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    Seriously why should we care about what the non union carriers think of us. If we start caring what they think than we might start believing that we are lucky to just have a job and that we are overpaid. We might start thinking that 60 dollars a month is outrageous even though its chump change compared to the extra money we save because we don't pay for benefits like THEY DO. They want nothing more than for us to lower the amount of money that we are willing to work for. They would rather we lower our wages down to their level than to raise theirs up to ours. How smart is that ? I care about them and have never ever called them ***** but they just can't figure it out. Their company has them brainwashed.
  18. Docker

    Docker Guest

    I don't give a rat's ass about what the non union carriers think of us which I'm pretty sure they feel the same way about us. If you're referring to me telling nothumbleenough to get his tail over to the What the non union carriers think of us at ABF thread...it's a thead here on this forum that we were having a debate on that he left some unanswered questions.

    As for your post...I agree.
  19. cryotruck

    cryotruck Member

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    As an IBT tank haul member, I sure wish you people all the best in your negotiations. Believe me, when I say that a LOT of other unionized industries are following this closely. If you all don't "hang tough" (and I know that is sometimes easy to say and NOT easy to do) other formerly decent jobs (like mine) will fall prey to the old and rather tired "YRC" concessions. The employees at ABF didn't roll over on the last contract, and we who are on the outside looking in, hope you won't do it in this contract. My company is a multinational billion dollar energy company and they point to stuff like this and cry wolf, and then we all take it in the shorts. Hope you all get a good contract this time.
  20. Docker

    Docker Guest

    Thanks for the best wishes and words of encouragement cryotruck and we're all hoping for a contract that we all can be proud of.

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