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Yellow | 14 month deferral. Yes or No?

So if you guys are going to work with over $10 and hour reduction in pay and benefits just wait until the other companies follow suit. They talk about a reorginazation person coming on board. Does this mean that Zollars is out? YRC will not be happy until everyone in trucking is making $12.00 an hour again.
 
truckchick1 said:
So if you guys are going to work with over $10 and hour reduction in pay and benefits just wait until the other companies follow suit. They talk about a reorginazation person coming on board. Does this mean that Zollars is out? YRC will not be happy until everyone in trucking is making $12.00 an hour again.
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Ya but $12 dollars is better than $0. :nutkick:
 
Yeah I started in this business in 1978 making $5.00 per hour. I thought I was doing good. Minimum wage was about $2 bucks an hour.
 
Box Lover said:
Stroud the human toilet takes us back to junior high with his comments once again! Get your alternate screen names--Doorknocker671 and Roger23--to agree with you and tell you how funny you are.:biglaugh:

Stroud is one of those guys who not only thinks we are going to go bankrupt, he wants us to go bankrupt. He has built his reputation on this site that we are going bankrupt. If we don't, he will look even more foolish than he already does, if that's even possible! He says, however, that he's "moved on." Yeah, riiiiiiight!

As for me, I'm voting YES on this one. When your retirement is nearly 20 years away, it's really hard to care about. Also, when you're laid off, you're not paying into the pension anyway. There are a lot of guys who should have retired already. If it passes, I will feel sorry for the guys who were nearly done.
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Mr.BOYLOVER,
Spoken like a true member of management, I do not care what this company does, of course your voting yes, mom said you can stay longer.

By the way your rubber girlfriend wants her head back.Have alittle pride man.:puke::eck15:
 
I am a Teamster. I'm going to act like one and vote NO!
I'd rather make 0 then be a Yes Man and abandon the principles.
Hoffa suggested this idea. That's unacceptable!
As far as our votes counting, KK EXPLAINS in another thread
Our votes are counted by a independent company. So I guess time
Will tell.
 
I am sure this is all OPEN ENDED, Ater 14 months , well guys we fell a little short, we need an additional 12 months , Close it , all they are doing is paying down debt then they will close it anyway...
 
According to the security & exchange commission this is already a done deal. My question is that YRC will be making payments for 36 months to catch up the 14 months. Will it take 3 years to get back the next 14 months of credits?
 
truckchick1 said:
According to the security & exchange commission this is already a done deal. My question is that YRC will be making payments for 36 months to catch up the 14 months. Will it take 3 years to get back the next 14 months of credits?
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I believe they will pay back after the 14 months have gone by. Thats if they make it 14 more months.
 
Deferred Pension Payments

The Central States Pension Fund agreed that the Primary Obligors could defer the payment to it of approximately $83 million of contributions (the “Central States Deferred Pension Payments”) that were originally due on or before June 15, 2009. The Company is working to finalize discussions with other Funds to defer approximately $50 million of contributions owed to such Funds and have such Funds agree to the terms of the Contribution Deferral Agreement (all such deferred pension payments collectively with the Central States Deferred Pension Payments, the “Deferred Pension Payments”). As other Funds become a party to the Contribution Deferral Agreement, the amount of Deferred Pension Payments would increase by the second quarter 2009 contributions due to those Funds. The Funds also agreed that the deferral of Obligations (as defined below) would not be used in any determination that any Obligor (as defined below) or any ERISA affiliate has incurred complete or partial withdrawal from any such Funds or is otherwise subject to withdrawal liability.

Interest will accrue on the Deferred Pension Payments owed to each Fund at the applicable interest rate set forth in the trust documentation that governs the Fund. The interest rate for the Central States Pension Fund is equal to prime plus two percent. Interest from the original due date of the Deferred Pension Payments owed to each Fund through the date a Fund becomes a party to the Contribution Deferral Agreement with respect to any such Deferred Pension Payment will be capitalized, compounded and added to the applicable Deferred Pension Payments (such compounded interest and Deferred Pension Payments, collectively, the “Obligations”). Interest on the Obligations will accrue monthly, and commencing on July 15, 2009, will be payable in arrears on the 15th day of each calendar month.

The Primary Obligors will pay the Obligations in (i) payment of $3,571,405 on or before June 30, 2009 and thereafter (ii) the balance in thirty-six equal monthly installments payable on the 15th day of each calendar month commencing on January 15, 2010 (or such later dates as the applicable Fund may agree).
 
freight gypsy said:
enough is enough! close the gates at yrc. i'll learn to survive on less money and bs. let's see how dollar bill does with less.
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Companies will fall over themselves to get him on board. Putting a company out of business is an atribute in that crowd. Wait and see if I'm not right. :ranting2:
 
mustache said:
I started in 1967 made $3.50hr. long neck Bud $00.35 good wage back then!
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Hey, your right I started in 1964, in the office at 16 age, $1.25, a year later went on the docks as a checker, makeing $3.16, thirty days later I got $3.26, living at home and making more than the auto industry. Evan more than my dad. he was happy for me, but could not understand how I started at that wage. I soon moved out. you are right again, beer .35 my new car 65 chevy impala supersport. $2,150, brand new. GEE what has changed?:biglaugh:
 
i'm with you yellowtooner, after the pension lost 50 k of my money, now they are getting zero back in from the company. this job is a dead end. with 11 months to go to retire, i could care less if they implode.anyone with little time or young should look elsewhere, the age of the dinasaur/yrc/ is nearing an end.
 
Must be Yellow Drivers. If Roadway did not step in you all would be out the *bleeping* door and I would not have had to take the concession...nor having to deal with no money going into my Pension Fund.

I cannot believe that the TM at the Yellow-belly barn we moved into did not know if he was making money at his own barn! WTF??
Reminds me of the day of CF! THANK God a Roadway Manager was at the helm...we will survive.

Roadway Managers need their numbers. At our Terminal there are Yellow Drivers at the bottom of the board standing around, smoking cigarettes and not doing any work...they do not care about moving freight. As the Shop Steward, both Roadway and I agree to lay them all off to make the numbers.

As a Senior man, God help the bottom of the board. No wonder they were going under...if they found another job they could not get away with not working and smoking a cigarette every 20 minutes with their fingers up their bum.

Obama for change????? I guess that is what Yellow Drivers wanted. Teamsters for Obama??? Well, I can see that our Union Dues have not been well spent!
 
must be yellow drivers , thank you lucky star raodway will servive ? thank to yellow , I got FFFFFFFFd
 
sjr777 said:
Must be Yellow Drivers. If Roadway did not step in you all would be out the *bleeping* door and I would not have had to take the concession...nor having to deal with no money going into my Pension Fund.

I cannot believe that the TM at the Yellow-belly barn we moved into did not know if he was making money at his own barn! WTF??
Reminds me of the day of CF! THANK God a Roadway Manager was at the helm...we will survive.

Roadway Managers need their numbers. At our Terminal there are Yellow Drivers at the bottom of the board standing around, smoking cigarettes and not doing any work...they do not care about moving freight. As the Shop Steward, both Roadway and I agree to lay them all off to make the numbers.

As a Senior man, God help the bottom of the board. No wonder they were going under...if they found another job they could not get away with not working and smoking a cigarette every 20 minutes with ther fingers up their bum.

Obama for change????? I guess that is what Yellow Drivers wanted. Teamsters for Obama??? Well, I can see that our Union Dues have not been well spent!
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Excuse Me? Yellow was just fine before we bought Roadway, We have went backwards with your 1980's computer system, I'm getting sick and tired of hearing how much better you Roadway people think your better than everyone else. What should have happend was you all been liqudated since yellow bought you and forced to hire in at the bottom of the board! it didnt happen so get over it
 
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