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Yellow | Central States Buyout

J

justatruckn

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Heard a rumor that all union ltl are trying to buyout central states thanks to abf president lets see how strong these unions really are i think their gonna let it happen and screw us all and its really sad cause i lost a ton of senority at :eck13: a non union to come over here and now im gonna get the shaft
 
The Union can't just tell the companies it's ok without the rank and file voting in the majority for it. It's up to us to fight them and don't let them mess with our pensions!! Don't let the Co's tell us how GREAT it will be for us when it will only BENEFIT THEM!!!!
 
There's always some type of threat thrown out there before a Contract negotiation. Back in 1994 it was part timers. In 2003 it was us paying for some of our H&W. Don't believe everything that gets put out there because there's a good chance there will be more thrown out before the NMFA is settled.
 
Even if they were bought out, it's not like you would lose everything. It would just change to some other type of benefit. Maybe even better. Oops, I'm not supposed to say that! Losing everything is staying just like it is now and then YRC closes up. Then you would just about lose everything, and your job to boot.
 
We've got a Teamster National 401K plan. I would love to see them explore the options of converting the pension over to this. Keeps it out of the companies hands and it has your name on it exclusively. They put $240.00 a week into that and your talking a hefty sum at retirement, not to mention your own contributions if you want.
 
Flattop said:
We've got a Teamster National 401K plan. I would love to see them explore the options of converting the pension over to this. Keeps it out of the companies hands and it has your name on it exclusively. They put $240.00 a week into that and your talking a hefty sum at retirement, not to mention your own contributions if you want.
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I don't think you would ever get them to go $240.00 a week but $120.00 and some of your own still better than a poke in the eye
 
Your right about the poke in the eye. I thought they paid in $240.00 a week now to the pension? Would'nt this be the same for them? Or am I wrong on this?
 
Flattop said:
Even if they were bought out, it's not like you would lose everything. It would just change to some other type of benefit. Maybe even better. Oops, I'm not supposed to say that! Losing everything is staying just like it is now and then YRC closes up. Then you would just about lose everything, and your job to boot.
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This type of "new" thinking is why every thing's gone down hill in the last several years with both the Teamsters and the USA in general. Don't punish your kids, don't preach about the Bible, don't do anything against the company or anyone else and so on.... I know things change for the better and for the worse, but I for one am tried of giving and giving and others always taking and taking. Just my opinion, thanks Truckingboards for this forum to rant and rave.
 
I'm not sure what that has to do with what I said. Are we supposed to sit by and watch our pension fall through the floor and do nothing about it? As it stands now, YRCW holds our entire retirement in the palm of their hands. If they were to close up shop we would lose mostly everything. They (Central States) could not afford that kind of a hit. I don't want to stick my head in the sand and wake up one day to find it all gone. I'm going by 25+ years of history on this one. You can't turn back time. I, like many, wish that we could, but it's not going to happen. I don't want to end up like the employees of United airlines.
 
Flattop said:
As it stands now, YRCW holds our entire retirement in the palm of their hands. If they were to close up shop we would lose mostly everything.
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Why on earth would you LET YRCW hold your entire retirement? If you are have nothing, but your pension to fall back on come retirement then you are a fool. As it stands now, I have 2 Roth IRA accounts, my teamster 401 K, and money tied up in mutual funds. I'll be set. And if my pension is there when I'm done then thats a bonus. Counting on a pension years down the line is like counting on social security payments to cover the mortgage. And your point about YRCW folding is quite laughable I might ad.
 
They DON"T hold my entire retirement. I, like you are planning elsewhere. But it is by far the largest amount of MY money. At $240.00 a week, that's more than any of the other ones I am able to contribute to. My point is that if you can't count on the main source of your retirement, then it's time for a change. I don't like that much of MY money being in jeopardy. I guess just because we have money in other places that means that we should stick our heads in the sand and do and say nothing. It does'nt sit well with me that my pension or Social Security cannot be counted on. It's someone else wasting my money that I work hard for, as I am sure that you do.
 
One more thing. The only thing laughable is your not remembering ENRON. They said the same thing. Also, 25+ years of history in the trucking industry tells all of us that no trucking company is infallable. You don't really need me to go down the list do you?
 
All I'm saying is that one shouldn't count on their pension as their only means after retirement. Nor should we stand by and let UPS just buy their way out of the pension fund. I know I've heard guys mention petitions going around to the IBT demanding that they not let UPS buyout of the fund. But honestly I really just don't know what OUR options are.

Yes, I remember Enron. I remember a company that was as corrupt as corrupt could be that ruined the lives of many of their employees. I also remember that those executives responsible are doing hard time for their involvement. I'm not too worried about YRCW becoming corrupt and going the way of Enron. The same could be said for any company not just the Big Dogs in LTL.

I highly doubt folks at Walmart and Microsoft all be it in different industries sit around and speculate that they are going to fold any time soon. Maybe I'm naive, but I just don't see YRCW going anywhere in the near future. maybe Yellow sells off Rdwy at some point, but you are talking about Yellow and Roadway.

Anything could happen. We could all step outside tomorrow and be struck by lightning, but I doubt it. The names Yellow and Roadway and now YRCW are too important when it comes to LTL branding for them to just dissappear.

Say what you want about me and my opinions, but I refuse to jump in the ship with the rest of the doom and gloomers. Thats just such a **** poor way to go through life. Lets just stay together and do what we can to prevent any pension buyouts and hope that our contract gets done sooner rather than later.
 
I see where you are coming from. My point was'nt that YRCW might be corrupt, it was that there are no sure things as far as companies go, and if your eggs are all in one basket it's not good. I think at this time, all our eggs(the retirement fund) is in one basket. History does'nt show this to be very safe. Believe me, I am no doom and gloomer, I am an optimistic person. I just think the writing is on the wall for a change in the way we have our pension set up. In my mind this kind of a pension is antiquated. I personaly am open to other options being explored. It seems these days that many companies out there are after their employees pensions. I don't want to have to worry about that, or it's solvency. I just like the idea of something with my name on it, that I own. That way nobody can take it. I will definitly echo your comment on getting the contrct done sooner rather than later. It's going to be an interesting year to come.
 
A signed contract between the Teamsters the Rank & File & Central States would help solidify our pension. If we could make sure that a "Minimum of EX amount of dollars" of every hour earned is put towards & "ONLY TOWARDS" our pension, it would help secure our pension will be there. Right now all the money taken out for pensions, there is no guaranteed dollar amount towards the workers pension ( make this a strikable issue). Our money is being spent on stuff that DON'T even include us (the Rank & File). Central states calls it "Administrative Costs" I calling it pi**ing my money away. I don't remember saying they could take part of my pension money & build that multi-milion dollar glass house for them to work at. Nor do i remember allowing all the employee parties, the million dollar raises to the CEO's & COO's of Central Sates & all the meaningless acts. When Central Sates put the shaft to us a few years back, i called the federal pension board in Cincinnati, Oh. & asked how this could happen & if it was legal, the guy told me off the record that with no contract between the Rank & File, Teamsters & Central States that the money can be spent anyway the trustees see fit & the amount being set aside now (voted by the trustees) can be changed anytime they want. Before we forget, the big dogs didn't lose pension, health & welfare or any other bennies. The only thing that is guaranteed under the NMFA is that we have a pension. The amount we retire with can be & (already has been) changed anytime the trustees see the need to, we (the Rank & File) have nothing to say about it. All we can do is hope that they negotiate in good faith on our pension. There is no contract stating how much must be set aside for pensions & how much for other uses. We have a contract (NMFA) that says how much to deduct for each hour & worker, but, not how much must be put towards our pension. The Linehaul drivers have been getting screwed for a while, Linehaul drivers can only collect on a max of 5 days, but we have 6 day bids. Its stated in the NMFA that extra board drivers must do 6 trips before ETO. We need to be paid for EVERY DAY WORKED. Remember this at contract time, we can either sit back & let somebody else dictate how much were worth. or, We can have "EX" amount set aside for our pensions use "ONLY" & put in writing. I know not all will agree, its America we have that right, but, i think we all agree that the foolish spending of our hard earned money has to stop.
 
zippersbs said:
A signed contract between the Teamsters the Rank & File & Central States would help solidify our pension. If we could make sure that a "Minimum of EX amount of dollars" of every hour earned is put towards & "ONLY TOWARDS" our pension, it would help secure our pension will be there. Right now all the money taken out for pensions, there is no guaranteed dollar amount towards the workers pension ( make this a strikable issue). Our money is being spent on stuff that DON'T even include us (the Rank & File). Central states calls it "Administrative Costs" I calling it pi**ing my money away. I don't remember saying they could take part of my pension money & build that multi-milion dollar glass house for them to work at. Nor do i remember allowing all the employee parties, the million dollar raises to the CEO's & COO's of Central Sates & all the meaningless acts. When Central Sates put the shaft to us a few years back, i called the federal pension board in Cincinnati, Oh. & asked how this could happen & if it was legal, the guy told me off the record that with no contract between the Rank & File, Teamsters & Central States that the money can be spent anyway the trustees see fit & the amount being set aside now (voted by the trustees) can be changed anytime they want. Before we forget, the big dogs didn't lose pension, health & welfare or any other bennies. The only thing that is guaranteed under the NMFA is that we have a pension. The amount we retire with can be & (already has been) changed anytime the trustees see the need to, we (the Rank & File) have nothing to say about it. All we can do is hope that they negotiate in good faith on our pension. There is no contract stating how much must be set aside for pensions & how much for other uses. We have a contract (NMFA) that says how much to deduct for each hour & worker, but, not how much must be put towards our pension. The Linehaul drivers have been getting screwed for a while, Linehaul drivers can only collect on a max of 5 days, but we have 6 day bids. Its stated in the NMFA that extra board drivers must do 6 trips before ETO. We need to be paid for EVERY DAY WORKED. Remember this at contract time, we can either sit back & let somebody else dictate how much were worth. or, We can have "EX" amount set aside for our pensions use "ONLY" & put in writing. I know not all will agree, its America we have that right, but, i think we all agree that the foolish spending of our hard earned money has to stop.
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Now heres a post I can agree with 100%!
 
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