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Yellow | Don't fall for concessions

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FULL DECK

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YRC is spending $100 million cash to buy back senior notes
per SEC filing 11/24/08.

YRC has alot of liquidity in assets that are taking place, such as excess terminals, trucks, and trailers for sale. With this merger, they are getting rid of the older tractors and trailers and keeping the newer stuff, which will save alot on maintenance.

They can sell off Glen Moore or Remier and interline if need be.

Get rid of the UTILITY DRIVERS. It's a joke and is costing to much money in coordinating, overtime pay, and handling freight too many times. Most non-union companies pay their drivers mileage to the break point then they go on the clock to work the freight and don't get paid overtime.

The freight industry always has years of peaks and valleys. During the good years, on the way up, profits are spent on assets such as equipment and terminal upgrades and to purchase other companies to add to their portfolios. Those assets are therefore used as pawns, to cash in, during the downward slide into the valley. Although, understanding that the economy is in the crapper, YRC has previously set themselves up with tens of millions of dollars of liquidity.

I've been through this pay cut stuff with Preston, once owned by Yellow Corp. in which we were asked to take a 9% pay cut during the remainder of that contract, but when the next contract came up we did not go back to NMFA rates, we remained 7% below NMFA rates until they went out of business.

Once you take a concessionary pay cut, no matter what the percentage rate is, the company will never allow you to go back to NMFA rates. That includes the 2013 contract.

IN MY OPINION.......DON'T VOTE FOR ANY PAY CUTS!
YRC WORLDWIDE HAS ALOT OF OTHER ASSETS THEY CAN LIQUIDATE FIRST.
 
this will turn out to be a free for all im guessing there will be alot of claims if we have to give 15% i know guys who will take 30% there going to be shopping on wheels
 
Selling off Reimer wouldn't realize a lot of cash. Staley bought Reimer for various reasons but one was to obtain the 'Canadian running rights' so that Roadway had access to all of Canada.

In essence when he and Terry Gilbert shut down Roadway Canada they basically setteld for Interlining their freight via Reimer.

Because they went with the name of Reimer instead of Roadway it's hard to get seperate details but I have heard from good sources that Reimer made 60 percent of YRC's profit last year. The magic is in 'crossing the border' with freight that jacks the price up as well as money made via 'customs bonds' and 'customs clearing'.

To put it in a way you may be able to relate to; if a 500 lb skid going 500 miles within Canada costs $100.00 then that same skid from Canada going to the USA (500 miles) costs at least $300.00, and the same if coming from the USA. No extra fuel, manpower required. Just some clerks to do the customs papers.........
 
Full Deck said:
YRC is spending $100 million cash to buy back senior notes
per SEC filing 11/24/08.

YRC has alot of liquidity in assets that are taking place, such as excess terminals, trucks, and trailers for sale. With this merger, they are getting rid of the older tractors and trailers and keeping the newer stuff, which will save alot on maintenance.

They can sell off Glen Moore or Remier and interline if need be.

Get rid of the UTILITY DRIVERS. It's a joke and is costing to much money in coordinating, overtime pay, and handling freight too many times. Most non-union companies pay their drivers mileage to the break point then they go on the clock to work the freight and don't get paid overtime.

The freight industry always has years of peaks and valleys. During the good years, on the way up, profits are spent on assets such as equipment and terminal upgrades and to purchase other companies to add to their portfolios. Those assets are therefore used as pawns, to cash in, during the downward slide into the valley. Although, understanding that the economy is in the crapper, YRC has previously set themselves up with tens of millions of dollars of liquidity.

I've been through this pay cut stuff with Preston, once owned by Yellow Corp. in which we were asked to take a 9% pay cut during the remainder of that contract, but when the next contract came up we did not go back to NMFA rates, we remained 7% below NMFA rates until they went out of business.

Once you take a concessionary pay cut, no matter what the percentage rate is, the company will never allow you to go back to NMFA rates. That includes the 2013 contract.

IN MY OPINION.......DON'T VOTE FOR ANY PAY CUTS!
YRC WORLDWIDE HAS ALOT OF OTHER ASSETS THEY CAN LIQUIDATE FIRST.
Click to expand...

This give back package will probably contain alot more than a paycut. I'm reading between the lines on the last news release and I think there will be major work rule changes as well

"ratifying an amendment to a national master freight agreement that includes a wage reduction."


http://www.bizjournals.com/kansascity/stories/2008/11/24/daily10.html
 
Hey everybody lets not forget about the chinese forwarding company thar we bought as well. What good does that do us here in the U.S.? SO Ima big no person on the concessions. They hae ways to liquidate other than our wages I will not vote for YRC having thier cake and eating it too while us teamsters scrape and struggle to pay ther bills. I will vote NO on any givebacks! We need to realize that any work rule changes will likely have an effect on jobs as well, and that job maybe yours someday:cuss:
 
Whether or not concessions will be pursued aggressively by a business depends largely upon the reaction, official and unofficial, of the union leadership to the company's initial pitch for concessions.

If company officials perceive that the union leadership is sympathetic or can be persuaded, the assault will begin. Dire predictions and gloomy forecasts about the future of the business will become a constant theme in management communications to workers. Where union leaders have bought in to management's campaign, "message discipline" from the union office will help to persuade the membership until it eventually capitulates and accepts the employer's terms.

The gloom and doom is always positioned as if it were fact although for the most part, it is highly speculative, grossly oversimplified and designed to spread fear, uncertainty and a sense that cuts are inevitable and workers should be happy to have jobs on any terms.

It's important not to fall prey to the psychological manipulation of "message discipline" or get caught up in distracting talk about unprofitable operations.
 
I don't know how to say this any clearer than this;\

IF THEIR MOUTHS ARE MOVING , THEY ARE LIEING!

They are counting on FEAR to get a YES vote,, just as they did with the contract.
All of us need to grow a set of ba--ls, or find a pair that someone else is not using.
Stand up for yourselves!
Live with dignity, VOTE NO!
 
When the contract was being negiotiated, I was anticipating cutbacks way in excess of what they are asking for now, and they come back with a contract that was far better then I expected for this ecomony. Correct me if I'm wrong, but does anyone think that the negiotiating team on both sides knew this was going to happen and gave us a bone just to get the Utility language in the contract instead of the company risking a strike. Now they have language for us to be working like a non-union worker and just paying union dues. Make sure you ask your BA's if they knew about these givebacks and waited until after the union electionsto tell the membership
 
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