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ABF | ABF's future if Yellow Roadway close?

2631 said:
Each multiemployer pension plan is a separate legal entity managed by an independent board of trustees. It is not a union fund controlled by the union. Nor is it an employer fund, over which the employer has control. Rather, by law, the plans are managed independently by their trustees under a complex set of statutory and regulatory requirements. Although the trustees are appointed - half by the union and half by the employer - each trustee has a legal obligation to act not in the interest of the union or employer that appointed them, but rather with a singular focus on the best interests of the plans participants. Trustees who do not act in the best interest of participants may be held personally liable for breach of their fiduciary duty.
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Precisely.
 
yrcw is opening up the nmfa to new wording and menetary givebacks by the yellow employees . WOULD ABF have to abide by this also. couldn't find any info on this. maybe time will tell. interesting on the teamsters websight that they have been in negotiations with yellow for weeks about this but nothing was posted until today. why keep everyone in the dark? I remember getting calls from tyson johnson and his boys about voting for the contract but not this time
 
shrinkwrap said:
yrcw is opening up the nmfa to new wording and menetary givebacks by the yellow employees . WOULD ABF have to abide by this also.
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I doubt that they would have to abide by it. but I would bet that ABF will demand to get any relief from the NMFA that the YRCW companies get. ABF would be the only carrier paying NMFA wages. Can't you just hear ABF? How come YRCW is being given an unfair advantage over us? Why are we being penalized for running a tight ship & not being in debt? Why are you rewarding YRCW for acting irresponsibly by over borrowing & ruining what were once well run money making companies?

Brother Hoffa turned his back on the NMFA by giving UPSF a stand alone contract. If he allows YRCW out then IMO ABF will demand & receive the same...........Call me doom & gloom but the party is definitely over.
 
Hey mit4064; I've been retired from ABF for a year now.I like that check coming in the mail every month. If I had to take a pension from a 401k NOW I'd have to be looking for a job. What money I had left in my 401k I pulled it out. No I like the monthy check.You guys have got to stop thinking the way these companies are trying to make you think. There hasn't been one company in all the years that I worked that wanted to pay into the fund,that goes way back even when my Dad was a teamster. The reason companies go broke is due to poor management and that's the bottom line. You cann't let them scare you.Keep a close watch as to just what the boys in corporate make every year.Corporate America are a bunch of greedy bastards. The boys in Ft. Smith are no different.
 
2631 said:
I doubt that they would have to abide by it. but I would bet that ABF will demand to get any relief from the NMFA that the YRCW companies get. ABF would be the only carrier paying NMFA wages. Can't you just hear ABF? How come YRCW is being given an unfair advantage over us? Why are we being penalized for running a tight ship & not being in debt? Why are you rewarding YRCW for acting irresponsibly by over borrowing & ruining what were once well run money making companies?

Brother Hoffa turned his back on the NMFA by giving UPSF a stand alone contract. If he allows YRCW out then IMO ABF will demand & receive the same...........Call me doom & gloom but the party is definitely over.
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you can bet the call was made today. tell me what is hoffa going to say no you can't have it your to strong. then all they have to do is start to showing losts and don't thing they want do it. sorry to say it no unionline has every made it after the pay cut
 
ABFshuttleNUT said:
Hey mit4064; I've been retired from ABF for a year now.I like that check coming in the mail every month. If I had to take a pension from a 401k NOW I'd have to be looking for a job. What money I had left in my 401k I pulled it out. No I like the monthy check.You guys have got to stop thinking the way these companies are trying to make you think. There hasn't been one company in all the years that I worked that wanted to pay into the fund,that goes way back even when my Dad was a teamster. The reason companies go broke is due to poor management and that's the bottom line. You cann't let them scare you.Keep a close watch as to just what the boys in corporate make every year.Corporate America are a bunch of greedy bastards. The boys in Ft. Smith are no different.
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ABFshuttleNUT, I agree with you. A "guaranteed" amount of money is always better than an investment like a 401K. The question is, how good is the guarantee? The problem is that guarantees don't fund the pension. All indicators suggest that the payouts from these funds will eventually have to be reduced. After putting money into it for so many years, I'm not surprised that more senior men didn't want a 401K. It's the junior men who should be worried. There is simply no way some of these funds can pay out the benefits that have been "guaranteed".
Just my 2 cents...
 
2631 said:
I doubt that they would have to abide by it. but I would bet that ABF will demand to get any relief from the NMFA that the YRCW companies get. ABF would be the only carrier paying NMFA wages. Can't you just hear ABF? How come YRCW is being given an unfair advantage over us? Why are we being penalized for running a tight ship & not being in debt? Why are you rewarding YRCW for acting irresponsibly by over borrowing & ruining what were once well run money making companies?

Brother Hoffa turned his back on the NMFA by giving UPSF a stand alone contract. If he allows YRCW out then IMO ABF will demand & receive the same...........Call me doom & gloom but the party is definitely over.
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Was told by our TM yesterday if YRC gets the concessions ABF will follow to stay competitive.
 
how bout this?

Deer Hunter said:
Things don't look to good for Yellow Roadway. Even though they are the compitition I sure don't want to see them go under. But if that does happen picking up some of their freight would help in a slow economy. But what about the multy employer pensions with the teamsters. With ABF being the only ones left how can ABF support all the retirees of past company's ? Would Yellow Roadway going under also put ABF under ?
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What about the future of the Teamsters? I know the idea of more freight sounds very inviting and of course a more solid future, but do you really think you can do it (without) one of 'the' 'biggest' employers' of 'the' Teamters? Good Luck!! :popcorn:
 
What about this?

wild deuce said:
What about the future of the Teamsters? I know the idea of more freight sounds very inviting and of course a more solid future, but do you really think you can do it (without) one of 'the' 'biggest' employers' of 'the' Teamters? Good Luck!! :popcorn:
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Do I think we can do it? No, not alone. But we would not be alone. That is not what my post is about. And the future of the teamsters. I am full of confidence in the future of the teamsters from all of the organizing going on. I see the freight companys are in line to be teamster companys.
 
Deer Hunter said:
Do I think we can do it? No, not alone. But we would not be alone. That is not what my post is about. And the future of the teamsters. I am full of confidence in the future of the teamsters from all of the organizing going on. I see the freight companys are in line to be teamster companys.
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We all have to support yrc employees. We need then. I can't believe you do not see the big picture
 
odawg10 said:
We all have to support yrc employees. We need then. I can't believe you do not see the big picture
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I do see the big picture and I do feel it is important for YRC to survive. I was responding to someone who missunderstood my original post as if I was happy that YRC might go under because ABF would pick up some of their freight. I was posting a concern about ABF's future if that happened. Not rejoicing in it.
 
Would you really trust ABF with your retirement? Think of it here we are talking about letting people control our future that fire people for small things knowing they will get their jobs back just to teach them a lesson. people who lay off more just to make a extra buck. Come on please stop the BS keep the funds right where they are. YOUR BROTHER ALWAYS.
 
Stan how many of the Union trucking companies from the seventies are still around? Do you see what I mean. I am not very good with this computer yet but if you would check out my reply to one of the YRC threads I think you might find it somewhat amusing.
 
I'm a Road Driver at Yellow, just wanted to thank the Brother & Sister Teamsters at ABF for your prayers and support ,we need it! MERRY CHRISTMAS!!
 
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