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ABF | ABF Agreement: Monday, May 20!

go4gold said:
nightrider, i read your post about ceo's should take a pay cut and judy mcreynolds got a pay raise. Well, i didn't remember that being the case in sec documents that i had read, so i did a little more research. The facts are that judy mcreynolds took a 30% total compensation cut in 2012 versus 2011's total compensation. If you go to sec.gov, click on company filings and put in the ticker symbol abfs you will get the most current sec filings. Go to def14a definitive proxy statement and click on the highlighted document number and then go to page 37. There you will see the compensation for each of the top executives at abfs. In fact, the top 4 highest paid executives combined took a 20% total compensation cut in 2012 versus 2011. In addition to that, on friday management and non union employees had their pension program contributions eliminated as far future contributions to the plan starting in a little over a month. Over the course of each employees lifetime that equates to 100's of thousands of dollars. If the union would match those kinds of cuts this company might be able to compete with non union truckers. What amazes me is that there is not one post on these message boards since friday afternoon recognizing those cuts and the contributions of others to make abfs an on going concern.
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also they make have taken cuts but while doing your home work remmber one little trick whats there stock options they might have gone up so it may not really be a pay cut just a thought
 
Cellblock, you are right! You have to look at total compensation for executives. I did that. I will be going back a few more years on their salary increases when I get a chance at the request of Steward. See my message post on the executive salaries for executives of 9 different trucking companies. ABFS executives are not being paid excessive amounts of money by comparison.
 
go4gold said:
Cellblock, you are right! You have to look at total compensation for executives. I did that. I will be going back a few more years on their salary increases when I get a chance at the request of Steward. See my message post on the executive salaries for executives of 9 different trucking companies. ABFS executives are not being paid excessive amounts of money by comparison.
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Thank you!
 
Fat Albert said:
Your pushing it Von! LOL
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Albert, I know I am pushing it a little. But hey can't we all have some fun? Now, you do know I posted that just to draw you out, don't you? Hey It worked. So, now that I am finished intercoursing with you, I will quit while I am behind. Besides, I have got 3 more lawns to to today before the rain hits.
 
After putting together numbers on the executives total compensation, I have now put together total salaries, wages and benefits on a percentage ratio of sales for each of the same 9 trucking companies I used before. Some of you are not familiar with looking at financial statements so there is an easy way to think about this percentage. For example: ODFL pays 50.5 cents in salaries, wages, and all benefits for every dollar they make. Your company has not lied to you. ABFS has the highest salaries, wages and benefits of any of these nine companies. As you would suspect to find, all of the union companies pay out the highest percentage. However, we know ABFS and YRCW are not healthy companies. I would suggest UPS is headed in the wrong direction. The increases at UPS for salaries, wages and benefits are outrageous year over year. If nothing else, if you decide to vote no on your tentative contract this will provide a guide on where to take your application for the next best total compensation you can find.

ABFS 62.2%
UPS 61.2%
YRCW 57.4%
ODFL 50.5%
CNW 38.1%
FDX 37.7%
WERN 26.7%
JBHT 25.6%
SWFT 23%
 
go4gold said:
After putting together numbers on the executives total compensation, I have now put together total salaries, wages and benefits on a percentage ratio of sales for each of the same 9 trucking companies I used before. Some of you are not familiar with looking at financial statements so there is an easy way to think about this percentage. For example: ODFL pays 50.5 cents in salaries, wages, and all benefits for every dollar they make. Your company has not lied to you. ABFS has the highest salaries, wages and benefits of any of these nine companies. As you would suspect to find, all of the union companies pay out the highest percentage. However, we know ABFS and YRCW are not healthy companies. I would suggest UPS is headed in the wrong direction. The increases at UPS for salaries, wages and benefits are outrageous year over year. If nothing else, if you decide to vote no on your tentative contract this will provide a guide on where to take your application for the next best total compensation you can find.

ABFS 62.2%
UPS 61.2%
YRCW 57.4%
ODFL 50.5%
CNW 38.1%
FDX 37.7%
WERN 26.7%
JBHT 25.6%
SWFT 23%
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Exactly what are you trying to say??? Trying to compare us to Old Dominion is like oranges and apples.. We get paid overtime ,they do not...We have our healthcare paid for,they have to pay quite a bit for theirs ..Really there is no comparison..And then you have the nerve to throw in JB Hunt and Swift both of which are bottom feeders..You can do all the research you want but it just shows you really don't have a clue... If these companies would raise their rates then they would be able to pay their workers a fair wage ...Deregulation is what got us in this mess ..I haven't a clue how to fix it..You also say your not an ABF employee,then exactly what is your position here??? Are you a day trader??? Someone who would make a buck off the sweat of someone else...
 
When a company begins to have operating problems they will start to cut capital expenditures which also reduce depreciation and makes the bottom line look better. Not reinvesting in your company eventually has its toll. Here are some capital expenditure numbers over the last 7 years in good times and bad. Much of the money they are spending is probably going into non asset businesses because those are profitable. The longer ABFS is not competitive and can't reinvest into new LNG tractors, the further behind you are becoming to your competitors. LNG is one place where you can begin to control fuel expenses, which is your second largest expense behind salaries, wages and benefits. UPS is well on the way to a LNG fleet.

2006) $135.6 million
2007) $86.1 million
2008) $41.7 million
2009) $43.1 million
2010) $5.5 million
2011) $$37.3 million
2012) $30.9 million
 
go4gold said:
When a company begins to have operating problems they will start to cut capital expenditures which also reduce depreciation and makes the bottom line look better. Not reinvesting in your company eventually has its toll. Here are some capital expenditure numbers over the last 7 years in good times and bad. Much of the money they are spending is probably going into non asset businesses because those are profitable. The longer ABFS is not competitive and can't reinvest into new LNG tractors, the further behind you are becoming to your competitors. LNG is one place where you can begin to control fuel expenses, which is your second largest expense behind salaries, wages and benefits. UPS is well on the way to a LNG fleet.



2006) $135.6 million
2007) $86.1 million
2008) $41.7 million
2009) $43.1 million
2010) $5.5 million
2011) $$37.3 million
2012) $30.9 million
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Can you answer what I asked you???I'll rewrite it for you

Exactly what are you trying to say??? Trying to compare us to Old Dominion is like oranges and apples.. We get paid overtime ,they do not...We have our healthcare paid for,they have to pay quite a bit for theirs ..Really there is no comparison..And then you have the nerve to throw in JB Hunt and Swift both of which are bottom feeders..You can do all the research you want but it just shows you really don't have a clue... If these companies would raise their rates then they would be able to pay their workers a fair wage ...Deregulation is what got us in this mess ..I haven't a clue how to fix it..You also say your not an ABF employee,then exactly what is your position here??? Are you a day trader??? Someone who would make a buck off the sweat of someone else...
 
go4gold said:
When a company begins to have operating problems they will start to cut capital expenditures which also reduce depreciation and makes the bottom line look better. Not reinvesting in your company eventually has its toll. Here are some capital expenditure numbers over the last 7 years in good times and bad. Much of the money they are spending is probably going into non asset businesses because those are profitable. The longer ABFS is not competitive and can't reinvest into new LNG tractors, the further behind you are becoming to your competitors. LNG is one place where you can begin to control fuel expenses, which is your second largest expense behind salaries, wages and benefits. UPS is well on the way to a LNG fleet.

2006) $135.6 million
2007) $86.1 million
2008) $41.7 million
2009) $43.1 million
2010) $5.5 million
2011) $$37.3 million
2012) $30.9 million
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This guy is either management or a management plant. LNG?? Really? Have a few nat gas investments too?
 
go4gold said:
After putting together numbers on the executives total compensation, I have now put together total salaries, wages and benefits on a percentage ratio of sales for each of the same 9 trucking companies I used before. Some of you are not familiar with looking at financial statements so there is an easy way to think about this percentage. For example: ODFL pays 50.5 cents in salaries, wages, and all benefits for every dollar they make. Your company has not lied to you. ABFS has the highest salaries, wages and benefits of any of these nine companies. As you would suspect to find, all of the union companies pay out the highest percentage. However, we know ABFS and YRCW are not healthy companies. I would suggest UPS is headed in the wrong direction. The increases at UPS for salaries, wages and benefits are outrageous year over year. If nothing else, if you decide to vote no on your tentative contract this will provide a guide on where to take your application for the next best total compensation you can find.

ABFS 62.2%
UPS 61.2%
YRCW 57.4%
ODFL 50.5%
CNW 38.1%
FDX 37.7%
WERN 26.7%
JBHT 25.6%
SWFT 23%
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Those clowns at ODFL would work 2 days a week for free if they were asked. ODFL is in a league of their own they way they compensate their "drivers"
 
crazy said:
Exactly what are you trying to say??? Trying to compare us to Old Dominion is like oranges and apples.. We get paid overtime ,they do not...We have our healthcare paid for,they have to pay quite a bit for theirs ..Really there is no comparison..And then you have the nerve to throw in JB Hunt and Swift both of which are bottom feeders..You can do all the research you want but it just shows you really don't have a clue... If these companies would raise their rates then they would be able to pay their workers a fair wage ...Deregulation is what got us in this mess ..I haven't a clue how to fix it..You also say your not an ABF employee,then exactly what is your position here??? Are you a day trader??? Someone who would make a buck off the sweat of someone else...
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It's pretty easy to see what his point is. His comparisons aren't union vs non-union or management vs. labor. ABF spend $62.20 of EVERY $100.00 in revenue to cover benifits and wages & salaries. To me it's a terrifying statistic. ABF is spending more than UPS. And UPS revenue is exponentially larger than ABF.
 
yrc-atm said:
Those clowns at ODFL would work 2 days a week for free if they were asked. ODFL is in a league of their own they way they compensate their "drivers"
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Did you READ his post, ALL OF IT????? Those statistics are for wages, salaries and benifits for EVERY employee NOT just the drivers.
 
vongrimmenstein said:
Albert, I know I am pushing it a little. But hey can't we all have some fun? Now, you do know I posted that just to draw you out, don't you? Hey It worked. So, now that I am finished intercoursing with you, I will quit while I am behind. Besides, I have got 3 more lawns to to today before the rain hits.
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You do not know how long I have been waiting for you to say the right thing so I could jump all over it.
 
go4gold said:
From the ODFL 10K. This helps people understand why ABFS is losing market share. If you can't build sales you can't keep up with rising costs. I would guess the cost of negotiating a contract cost more than the executives make at ABFS.

"The unionization of our employees could have a material adverse effect on our business, financial condition and results of operations because:
some shippers have indicated that they intend to limit their use of unionized trucking companies because of the threat of strikes and other work stoppages;

restrictive work rules could hamper our efforts to improve and sustain operating efficiency;

restrictive work rules could impair our service reputation and limit our ability to provide next-day services;

a strike or work stoppage would negatively impact our profitability and could damage customer and employee relationships; and

an election and bargaining process could divert management’s time and attention from our overall objectives and impose significant expenses."
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You forgot to add that they might have to start paying overtime to their employees after 8 or 40 hours. Overtime....in trucking...is a penalty your employer pays for keeping your CDL license at risk longer than 8 hours by not hiring enough employees to do the work...For companies that actually care about the health and safety,...and risk of liability in a very litigatious world....of their employees,....you would think Old Dominion management would start to limit the hours their employees are on the public highways. But, you see, Go4Gold,....you're talking about nickels, dimes, and dollars,....and we're talking about lives, families, reducing divorce rates, home time , proper compensation in the 21st century,....safety on the highway.......You,...and management are looking at profit and loss. WE......who actually hold 40 tons of shaking steel in our hands,....are concerned with safety.....of ourselves, and the public. Ever see a big truck wander across lanes, and fear for the safety of your family? Remember that when you see the next Old Dominion driver......he's working for a company that has no moral scruples about wringing every legal....and a few non-legal,..minutes out of him. Toss all the figures you want here, buddy. You've never nodded off at the wheel of a truck you're trying to force down a road to feed your family. You're out of your element, here....
 
Crazy, I don't like to get into a lot of conversations on the side and I will not get into any tit for tat (like some of the people do on the message boards) because it is a waste of time to try and one up someone because no one can ever win. I am providing people with some real nuggets concerning information about your company. I have some more comparisons I am going to make. I will then summarize the facts and I will tell you about following the money and what more than likely is going to happen if the contract is not ratified. Please, go back and read my previous posts. I have already declared why I am here, I am not a day trader. I make money by trying to understand what the odds are that something will or will not happen. I do that with hard work and knowledge. In the end, whether you ratify the contract or not, it will probably not impact my outcome significantly. Yes, you do have a clue on how to fix this. You just need to think about it for a while. You can start by understanding the real position your company is in. Take the emotion out of the your decision and look at the issue from both sets of shoes. Read my posts. Better yet read your companies SEC filings. Someone on these message boards has already put odds of 2 to 1 that the contract will get ratified. I think it will be a little less than that but I think it will pass. When I am done posting here, if you are interested, I will tell you why I believe that and how I came to that conclusion even before the details came out tonight. A hint: it is about following the smart money. Knowledge is power!
 
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