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ABF | ABF warns of major network changes if it can't lower labor costs and gain flexibility
- Thread starter R-14Driver
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The highest teamster employment that I ever remember seeing at ABF was 11,000. When the vote is against what the company wants, (and I see no other outcome), they could take the employment level down to 5,500 to 5,400. That would be half of their highest level or slightly less. The company needs to shrink to a level that will allow them to survive the next recession. The rate of growth from the 2008-2009 recession was pathetic and now the rate of growth is declining. It would not surprise me if the company gave up on servicing 50 states and became a multi regional LTL freight company.
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They know what they are doing chumley:
ABF Freight System, the leading freight service provider has various job openings either full-time or part-time depending on the location. This organization doesn’t provide separate printable job application and job seekers are advised to apply online on their official website. Various available positions in the company are for clerk, customer service representative, supervisory and operations assistant, mechanic, account manager, office manager, operations manager, line haul supervisor, management trainee, etc. There are other vacant positions available and the candidates can refer the official link for more details. Individuals seeking for a job should be above 18 years and has to carry out the operation for 24*7 working schedule.
People who are interested to be a part of well privileged and dynamic organizations, ABF Freight system, can get their applications at doorsteps and can start applying online. Started in 1923, this company has only local and regional carriers. With hard work and dedication, the company has started opening it terminals in 130 countries around the globe after its inception. Initially, the company operated lighter truckload carrier but sooner than later it has equipped in handling heavier payloads. This company is part of Arkansas Best Corporation which is listed in NASDAQ with annual revenue reaching $1 billion. It also has plans of starting a global shipping network, which has made the company to hire more people for its operation
ABF Freight System invites application from people above 18 years of age to fill various job positions
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Tax-Loss Rebound Candidates To Buy - Part 1
Arkansas Best Corporation (ABFS)
Arkansas Best predominantly engages in motor carrier freight transportation in the United States. The company is based in Fort Smith, Arkansas, and has a market cap of $230 million. Average daily volume is 380,000 shares per day. Earnings are scheduled to rise to $0.63 per share next fiscal year from a loss of $0.29 per share this fiscal year. Likewise, revenue is slated to increase to $2.25 billion from $2.05 billion this year. Book value is $18.37 per share. Per Barchart.com the 50-day moving average for the stock is $8.09. Also, as per Nasdaq the short ratio as of the end of November is 5.45 days to cover.
Tax-Loss Rebound Candidates To Buy - Part 1 - Seeking Alpha
Arkansas Best Corporation (ABFS)
Arkansas Best predominantly engages in motor carrier freight transportation in the United States. The company is based in Fort Smith, Arkansas, and has a market cap of $230 million. Average daily volume is 380,000 shares per day. Earnings are scheduled to rise to $0.63 per share next fiscal year from a loss of $0.29 per share this fiscal year. Likewise, revenue is slated to increase to $2.25 billion from $2.05 billion this year. Book value is $18.37 per share. Per Barchart.com the 50-day moving average for the stock is $8.09. Also, as per Nasdaq the short ratio as of the end of November is 5.45 days to cover.
Tax-Loss Rebound Candidates To Buy - Part 1 - Seeking Alpha
If ABF does not get the concessions that they want, (and they won’t), they will cut the amount of discount given to customers and increase their margins on each shipment. ABF is in the LTL business to move freight profitably and if they cannot obtain a sufficient margin at the current freight levels they will cut the amount of freight that they haul by doing it at a higher price net of discounts given. ABF is not in the business of providing jobs to truck drivers.
The best case scenario that they could get from the road drivers is a pay freeze for three years and a change to the work rules that would be beneficial to them. They cannot touch benefits or get a pay decrease from the road drivers.
The best case scenario that they could get from the road drivers is a pay freeze for three years and a change to the work rules that would be beneficial to them. They cannot touch benefits or get a pay decrease from the road drivers.
Do you really think ABF is not making money right now? They are, and they will continue to make money. but giving big raises to management, and buying companies, then say they are not making money is ludicrous. We need to stay strong, and not be afraid. It is contract time and the company is doing what they are expected to do. But I will vote no before I would ever accept concessions.
Arkansas Best Corp Three months ended September 30
____________________2012……….…2011
Operating revenue… 577,546 _____ 510,887
Operating expenses...565,313 _____ 489,769
Operating Income…..012,233_____ 021,118
Earnings per share_____.0.24_________0.46
http://www.arkbest.com/news/pr/PDF/2012/3Q_12_Earnings_Release.pdf
Let me guess, no one sees a problem here do they.
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Since you seem to believe their hogwash...suppose you explain to me just how in the hell they claim to have lost 230 million since 2009!
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3 Sectors Poised for a Big Rebound in 2013: Part 1
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.
3 Sectors Poised for a Big Rebound in 2013: Part 1 (ABFS, FDX, HTLD, JBHT, MRTN, YRCW)
Tax-Loss Rebound Candidates To Buy - Part 1
Arkansas Best Corporation (ABFS)
Arkansas Best predominantly engages in motor carrier freight transportation in the United States. The company is based in Fort Smith, Arkansas, and has a market cap of $230 million. Average daily volume is 380,000 shares per day. Earnings are scheduled to rise to $0.63 per share next fiscal year from a loss of $0.29 per share this fiscal year. Likewise, revenue is slated to increase to $2.25 billion from $2.05 billion this year. Book value is $18.37 per share. Per Barchart.com the 50-day moving average for the stock is $8.09. Also, as per Nasdaq the short ratio as of the end of November is 5.45 days to cover.
Tax-Loss Rebound Candidates To Buy - Part 1 - Seeking Alpha
Seeking Alpha and Motley Fool see no problem here...so...what do you see that they don't?
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Now I see where you're coming from!!!!
Here's some advice for you Sonny...just maybe...you should listen to those complaints by senior bid drivers sometime...who knows...maybe you will learn a thing or two!
FORT SMITH, Ark., Oct. 26 /PRNewswire-FirstCall/ -- Arkansas Best Corporation (Nasdaq: ABFS - News) today announced third quarter 2007 net income of $18.9 million, or $0.75 per diluted common share, compared to third quarter 2006 net income of $31.5 million, or $1.24 per diluted common share. Arkansas Best's third quarter 2007 revenue was $479.8 million compared to third quarter 2006 revenue of $507.3 million.
Arkansas Best Corporation - Press Release
You have a company that used to earn $1.24 per share now earning $0.24 per share. That is not a problem for you is it.
http://www.arkbest.com/news/pr/PDF/2012/3Q_12_Earnings_Release.pdf
The cost of a new truck is up $20,000 just in air pollution control alone over the cost of a 2006 truck. Everything else on that truck has also increased. If you read Transport Topics you will find articles that reveal that there are some small carriers trading in two trucks to buy one truck. This is due to increased down payment requirements by the lending companies and the cost of trucks going up.
Arkansas Best Corporation - Press Release
You have a company that used to earn $1.24 per share now earning $0.24 per share. That is not a problem for you is it.
http://www.arkbest.com/news/pr/PDF/2012/3Q_12_Earnings_Release.pdf
The cost of a new truck is up $20,000 just in air pollution control alone over the cost of a 2006 truck. Everything else on that truck has also increased. If you read Transport Topics you will find articles that reveal that there are some small carriers trading in two trucks to buy one truck. This is due to increased down payment requirements by the lending companies and the cost of trucks going up.
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No..that's not a problem for me...after all...
FORT SMITH, Ark., July 18 -- Arkansas Best Corporation (Nasdaq: ABFS) today announced second quarter 2002 net income of $6.5 million, or $0.26 per diluted common share, compared to second quarter 2001 net income of $9.8 million, or $0.40 per diluted common share. Revenue during this year's second quarter was $345.1 million.
Arkansas Best Corporation - Press Release
Now...as you state...You have a company that used to earn $1.24 per share now earning $0.24 per share...and I say that you have a company that used to earn $0.26 per share...then $1.24 per share and now earning $0.24 per share. What's your point...unless you want to go over how it went up and down over all these years? It goes down and right away you start to panic...probably like you react every contract year when the company always cry poor and barely able to stay afloat...and you are suckered right in to it. Like I said...why don't you listen to those complaints by senior bid drivers sometimes...you will learn alot and won't be so gullable when it comes to the company's tactics and panic in the future like you do now? That's one thing that I did decades ago...listened...and believe me...that knowledge they passed on was priceless! The junior men better wise up very soon or they will live to regret it!
By the way...actually listen to yourself here:
Oh my...did anyone ever hear of a price of a truck go up in all these years.
July 18, 2002 there was a Liberal Republican in the White house. He increased the debt of the country 4 trillion dollars in 8 years. Owe-bama has increased the debt 6 trillion dollars in 4 years and said “THIS IS BUSHES FAULT”.
Why would anyone have any confidence in their earnings per share going up besides the Oil companies.
Why would anyone have any confidence in their earnings per share going up besides the Oil companies.
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So...what you are saying that you are panicking and ready to give up anything the company wants because of this babble you just posted? And here I thought that Joe was the king of negative thinking and paranoia but...you my friend...have him beat !
A vote to decrease wages will never pass, just like in May 2010. The company will decrease the discounts they give to customers a little and ABF will lose a few shipments here and there from the companies that keep shipping with ABF. There will be a few drivers laid off which is nothing new to Union LTL companies. Nothing for a senior driver in the top 25% of the seniority list to worry about. The rest may not get the bid that they wanted and the bottom bid drivers may be kicked back to the extra board but no big deal otherwise.
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