What seems to escape your narrow view of ABC is this. Judy and the BOD are trying to avoid the situation that YRCW struggles with. With out the fundemental changes to their costs, money people NOT transportation people will be deciding operational priorities. You have lost sight of a simple fact. Shareholders don't care about you or the teamsters. Return on investment is their ONLY concern. If shuttering ABF increases shareholder value ABF will be a faint memory.
ABF | Ballots Sent To Some ABF Teamsters For Strike Vote!
- Thread starter Freightmaster1
- Start date
What seems to escape your narrow view of ABC is this. Judy and the BOD are trying to avoid the situation that YRCW struggles with. With out the fundemental changes to their costs, money people NOT transportation people will be deciding operational priorities. You have lost sight of a simple fact. Shareholders don't care about you or the teamsters. Return on investment is their ONLY concern. If shuttering ABF increases shareholder value ABF will be a faint memory.
I’m on the same page with ABFer. ABC/ABF claims they are loosing money but their Operating Ratio was just over 98% last quarter. Last year ABC/ABF lost money but oops it turned out they forgot to take a tax credit and over paid their taxes by millions of dollars (according to Judy on the ABC conference call). And have you noticed how ABC/ABF DID NOT fail to pay the dividend? There has been some comparison of ABC/ABF to Hostess but no one is claiming that the C and V level employees at Hostess did not get large bonuses. There is also plenty of talk about how union employees stand/sit around on the clock. For the most part that is somewhat correct, except this is a SERVICE company. Every trucking company I have worked for, or heard of, has employees waiting to get loaded, unloaded, at the doc, waiting on dispatch, waiting for a dock door, waiting on lumpers, etc….. And I could go on for long time; trucking is waiting. So to claim that union members wait while implying that it is because they are UNION members is so outrageous it makes me wonder if this individual knows anything about trucking at all.
The bottom line is I have a dog in this fight. I am employed by ABF and if my union brothers go on strike, I will support them! If ABF closes its doors, I will have to find other employment. So I have something to loose and it is a lot. A whole lot. And yet I wish my brother union members all the best in this fight and I hope you get what you need and want!
Albag, I agree with you but I would ask you one question: How is shutting down a company that is making money (operating ration of just over 98%) going to increase the ROI to any investor or increase share holder equity?
In this particular situation I don’t believe ABC’s assets (book) value with increase share holder equity. I also do not believe that breaking up ABC (selling off its asset based portions) would increase value because the non-asset based portions rely on the synergism of the asset based portions to make revenue.
What're did all the give backs get you albag? Ya your still open & in no better shape then you were a few years ago when the give back started. If they close they close everything happens for a reason.... I will have a job by weeks end the same can't be said for the management side . I give 100% every day if that's not enough ... Oh well....
Back before Zollars and Yellow, Wickham went to great lengths to educated his workforce. An O/R of no more than 94 (over 15 years ago) is required to recapitalize a trucking company. A 98+ puts you on an unsustainable course. Just my opinion about the future. The O/R stuff is fact.
PS. losing a weeks vacation across the board is IMO a poke in the eye for not giving Judy the same concessions as YRCW.
PS. losing a weeks vacation across the board is IMO a poke in the eye for not giving Judy the same concessions as YRCW.
I disagree with Wickham’s conclusion that an OR of 94 or better is required for recapitalization. The cost of recapitalization is based on a lot of factors and one of the largest factors is on the revenue side of the equation. An OR of 94 or less may be required for a company with revenue of 10 million but with a company of 4 billion an OR of 98 would be respectable. And to put that in perspective the T.A. has bonuses attached if ABF reaches an OR of 95.1 to 96. Considering the break even point is an OR of 1 then an OR of 98 is half way between 1 and 96. And that is without us taking any concessions. Just saying
Hoffa will never let a strike happen. this is all just going through the motions. The IBT is the only one that can declare a strike. He will simply say enough is enough, envoke executive powers, and done! All these paranoid theories, division amongst the men is goofy and the IBT's fault,, the company loves it, however it has cost the company millions, The IBT screwed up this contract by giving away the vacation.. a simple 7% across the life of the contract with the incentive plan and no loss of vacation would have been voted in and no use of video or GPS ! A real negotiation and real no brainer!! I think most members would have voted.. I have not talked to one guy who has said they have a problem with 7%!!!! Now the vacation gone forever!! Sweetons legacy!!! we will recoup the pay, never the vacation.. What guys need to know, they have re-opened the NMFA by allowing the splitting of the final week of vacation,, so they can re-open and renegotiate any part of it!!! don't let them tell you otherwise!!!! FACT!!!! That's what the Chicago Brotheren are holding out on!! Going back to the table on a supplement can get much things re-negotiated!!
If you really want to know whats going on go to oldschoolteamsters.com They have sections that will give you all the info you will need!!!
ABF is not YRCW, YRCW has caused all it it's own problems, with mismanagement, and greed. If the IBT did not lie to all its members and instal fear, I think there would be a different outcome on the vote.
If the Shareholders were smart then they would get rid of the cancer in your company, and only the regional carriers would be working today... YRC is never going to be a profitable company with its management...
If what you say about Shareholders is true, then YRCW WOULD HAVE BEEN CLOSED ALREADY!!! YRC Teamster members did not do any research, and just took the word of management and the IBT. So that is why your company is in the shape is still in. AND GUESS WHAT, YOUR CONTRACT IS COMING UP SOON, AND YRCW IS COMING BACK FOR MORE!!!
Tell me how much is enough where you would take a stand on anything...
truckerboy
TB Lurker
- Credits
- 0
Its called brother hood
When you quote a post of mine please DON'T edit! That's not your privilege, it's mine. Where in my post do I say the dire straights that YRCW is not the fault of poor decisions by prior management?
The banks are the ones calling the shots. They are getting so much interest from our (YRCW) notes they will ride the "Costa Concordia" until the expiration of the MOU.
You say often that the books are cooked at ABF, maybe YRCF too!
Read the portion of my post that you CHOOSE to omit. It's the in blue.
No one, not myself, you or ANYONE else has a "devine insight into the TRUTH". Truth is what you believe. The mere name of the forum you reference indicates bias!
Why do you care so much what is going on over here? Don't worry 2015 will be here soon enough....
D
Deleted member 5115
Guest
I would say that it would not be possible for you to perform the necessary and proper research to change your opinion. You would, rather, have to have had the experiences we the employees have had over the years as the company cried broke and begged for needed help. And when the rank and file determined that the help was not needed and rejected the plan the company came through with plenty of profit.
What I want to know is why an outsider as you proclaim to be, with no dog in the hunt as we say, would find yourself so concerned with our predicament? For this reason alone I have trouble buying into your claim that you are not ABF and not management at that, with all due respect of course.
Fate
The conditions at YRCF have a significant effect on ABF. And as much as it infuriates you those conditions are here because a majority accepted them. The financial condition that lead to YRCF's concessions ARE NOT the same at ABF.
I'm well aware what time it is! Do you read ALL of my posts? If you blithely believe that the fates of freight teamsters aren't intertwined then you are delusional. What occurs at ABF affects YRCF and vice versa. Get over it.
For the same reason you post your opinions on the YRC forum. Because I love my brothers and sisters.
The conditions at YRCF have a significant effect on ABF. And as much as it infuriates you those conditions are here because a majority accepted them. The financial condition that lead to YRCF's concessions ARE NOT the same at ABF.
I'm well aware what time it is! Do you read ALL of my posts? If you blithely believe that the fates of freight teamsters aren't intertwined then you are delusional. What occurs at ABF affects YRCF and vice versa. Get over it.
Get over what? That's the reason you should thank your brothers in central states for standing up for a better contract. And the reason I post on the yrc board is beacuse I worked there 10 years!For the same reason you post your opinions on the YRC forum. Because I love my brothers and sisters.
The conditions at YRCF have a significant effect on ABF. And as much as it infuriates you those conditions are here because a majority accepted them. The financial condition that lead to YRCF's concessions ARE NOT the same at ABF.
I'm well aware what time it is! Do you read ALL of my posts? If you blithely believe that the fates of freight teamsters aren't intertwined then you are delusional. What occurs at ABF affects YRCF and vice versa. Get over it.
Last edited by a moderator:
What part of The financial condition that lead to YRCF's concessions ARE NOT the same at ABF. don't you understand?
I wholeheartedly agree that most concessions sought by ABF are NOT necessary! However, some relief is REASONABLE.
I'm also curious just how well you understand the Central Region Local Cartage supplement. If you remove the Local 705 members who DON'T work the dock, and the Local 710 members who DON'T drive trucks, what do you think the results of the vote would have been?
I wholeheartedly agree that most concessions sought by ABF are NOT necessary! However, some relief is REASONABLE.
I'm also curious just how well you understand the Central Region Local Cartage supplement. If you remove the Local 705 members who DON'T work the dock, and the Local 710 members who DON'T drive trucks, what do you think the results of the vote would have been?
I will end it like this, in 2015 I cant wait to hear your reasoning why yrc need more relief....
I never have said the books are cooked. and if you can comprehend anything, then you know that is true. Yes its true that the stockholders now control YRCW, but how and why do you think that happen... Yrcw has not used good management decisions, that is why they are in the position their in...
You speak your opinion on here, so I guess I can speak mine. I know all about yrcw, and how they operate. They are the only thing standing in the way of the other companies making stockholders profitable.....