ABF | 35 %

[vongrimmenstein]

After reading an article from the Arkansas Business Journal the other day I just could not contain myself. I am very happy & giddy thinking about the raises I will receive in the new contract. I would be very happy with a 10% raise each year. Just imagine, I now will be able to afford to purchase more ABF Stock not to mention that boat slip @ Lake Monore. My prayers are answered. Praise the Lord & pass the cash.

As reported by the Arkansas Business Journal
Tuesday, November 20, 2012 12:23 PM


As the company's performance has improved, so has McReynolds' compensation. In its proxy statement, filed Feb. 29, 2012 Arkansas Best reported McReynolds had total compensation of almost $1.35 million in 2011, which was a 35 percent increase over her total compensation of $997,769 in 2010. In 2009, before she became chief executive officer, the company reported McReynolds' total compensation as $573,543.
McReynolds holds 29,629 shares of Arkansas Best stock, according to the most recent proxy. At the $18.96 closing price as of March 16, that's a value of $561,765.84.

 

[canaryinthemine]

Wow! A 35% increase because she held the ship's wheel while the crew in the engine room sweated their life away shoveling coal into blazing hot boilers.....Sorry about the nautical metaphor,...you got that stuck in my mind with all your wild talk about boat slips on Lake Monroe and such. As for me, I think I'll take my 35% raise and maybe pay off some of my children's school loans so they aren't in economic slavery for 20 or so years. I'm glad we're getting 35%. Mr. Slagle DID say we'll share in the good times and the bad equally, didn't he?

 

[Docker]

I'm glad we're getting 35%. Mr. Slagle DID say we'll share in the good times and the bad equally, didn't he?

You forget my friend...that's just for the ABF family...he didn't mention anything about the red headed step-children...lol

 

[Muler]

I think I will donate my 35% to you know who. After all inflation has whipped up on him. Yes I will be sending my 35% to the little rock town crier. Now maybe the sky won't fall on him. And how about that that NEW ENGLAND HYBIRD plan I spoke of months ago. Now I hope he can see who is up to the matter. NOT HIM! Now we are getting somewhere. That savings should more than cover our health coverage at no added expense to ABF. YOUR BLUE SKY LOVING BROTHER ALWAYS!

 

[vongrimmenstein]

I posted the article on the raise, hoping that when it comes time to vote on a contract the majority put a check mark in the no box, while they are thinking of how much of a raise she got in 1 year. Boats, tuition, car, house, Harley, & any and all other payments you might have should be forefront in your mind as you place that check mark in the box. If Reynolds does not receive any more raises in the next 5 years, (yea, we know how that one will go) she will have averaged a 7% raise each year since 2010. Let’s see here, 24.51 * 7% = 1.72 or 26.23 per hour in the first year. Her total ABF Income in 2010 was 1.35 million. Figure 52 weeks a year = 25,961.00 per week divided by a 50 hour work week = 519.22 per hour. Now, if the Board of Directors thinks she earned that kind of pocket change, so be it. They were the people who voted for her compensation because they thought she earned it. I don't know about the average ABF employee, but I can tell you from experience, it is all about Perception. And, the ABF Board of directors have left me with a perception that their Company CAN AFFORD a nice raise for the men & women who made it possible for those Directors to pass out the cash as they wanted. Till we vote in a new contract, my motto is (35% & pay the rate or lock the gate). The sign over the Compound in Jonestown Guyana said " Those who forget the past are condemend to repeat it". Don't forget that 35%.