She is thinking great. The more ABF can show a loss the more she can demand @ contract time. If she demands a lot of concessions & the IBT or voting rank & file refuse to give in, the door opens for closing the freight division & increasing Panther & all the other companies they bought. And the biggest gift corporate receives, is no more Pension Fund Payments. Game over.Jus saw where FedEx posted the following numbers from the previous quarters..
Rev 14.7 Billion up 16.3% Operating income 1.26 billion Net Income 7.15 million up 32%
EPS 16,6 Million at 2.90 per share
I wonder what Judy and her staff think of this?
I won't vote to give them a damn thing. If that means closing the doors then so be it. Keep on giving they will keep wanting more. Voting no bottom line and voting to get Hoffa outShe is thinking great. The more ABF can show a loss the more she can demand @ contract time. If she demands a lot of concessions & the IBT or voting rank & file refuse to give in, the door opens for closing the freight division & increasing Panther & all the other companies they bought. And the biggest gift corporate receives, is no more Pension Fund Payments. Game over.
I won't vote to give them a damn thing. If that means closing the doors then so be it. Keep on giving they will keep wanting more. Voting no bottom line and voting to get Hoffa out
Now there's a man who sees clearly what is going on.As negative as we all like to be and we can all agree they do play games. It is not in their games to just shut the doors at ABF Freight and continue ARCBEST. ABF Freight is responsible for the majority of the revenue if it goes so does the entire ship. the rest of the entities go too. To sink the company or sell, benefits no one. To make it more profitable yes, shutting or selling no. Making health and welfare/pension obligation less of a burden to ABF will be on the table and is the big difference between ABF and all other carriers, union and Non.. YRC began the transformation and members allowed this along with Hoffa.. ABF of course will cease the opp when allowed to. ABF strategy was to hire YRC workers who voted for concessions and needed time to retire knowing they would vote to pass a concessionary contract for 2018. ( the vote was close last time, guys needing short time wont hesitate to get one passed)
I agree that as of today they won't just shut down ABF. However, I am of the opinion that they are positioning themselves to spin ABF off as a stand alone company with many of the assets (read old tractors and trailers) and all of the debt (including the impossibly high withdrawal liability for the retirement funds). If they are able to get this done by the end of the year in 2017, ABF will be an expensive empty husk of a company that will not be around long. Don't forget that they have already moved the Upack revenue away from us and they are building their "non asset based" services at a furious pace as if there is a goal that they see in the near future. I hope you are right and I am wrong, but only time will tell.As negative as we all like to be and we can all agree they do play games. It is not in their games to just shut the doors at ABF Freight and continue ARCBEST. ABF Freight is responsible for the majority of the revenue if it goes so does the entire ship. the rest of the entities go too. To sink the company or sell, benefits no one. To make it more profitable yes, shutting or selling no. Making health and welfare/pension obligation less of a burden to ABF will be on the table and is the big difference between ABF and all other carriers, union and Non.. YRC began the transformation and members allowed this along with Hoffa.. ABF of course will cease the opp when allowed to. ABF strategy was to hire YRC workers who voted for concessions and needed time to retire knowing they would vote to pass a concessionary contract for 2018. ( the vote was close last time, guys needing short time wont hesitate to get one passed)
I agree that as of today they won't just shut down ABF. However, I am of the opinion that they are positioning themselves to spin ABF off as a stand alone company with many of the assets (read old tractors and trailers) and all of the debt (including the impossibly high withdrawal liability for the retirement funds). If they are able to get this done by the end of the year in 2017, ABF will be an expensive empty husk of a company that will not be around long. Don't forget that they have already moved the Upack revenue away from us and they are building their "non asset based" services at a furious pace as if there is a goal that they see in the near future. I hope you are right and I am wrong, but only time will tell.
Just depends on the amount they have leveraged against ABF Freight.If they leveraged alot then they must keep ABF.if they diversified and diverted the leverage elsewhere then ABF is expendable.Just have to look at revenue earnings of all the companies that are owned by ArcbestAs negative as we all like to be and we can all agree they do play games. It is not in their games to just shut the doors at ABF Freight and continue ARCBEST. ABF Freight is responsible for the majority of the revenue if it goes so does the entire ship. the rest of the entities go too. To sink the company or sell, benefits no one. To make it more profitable yes, shutting or selling no. Making health and welfare/pension obligation less of a burden to ABF will be on the table and is the big difference between ABF and all other carriers, union and Non.. YRC began the transformation and members allowed this along with Hoffa.. ABF of course will cease the opp when allowed to. ABF strategy was to hire YRC workers who voted for concessions and needed time to retire knowing they would vote to pass a concessionary contract for 2018. ( the vote was close last time, guys needing short time wont hesitate to get one passed)
Makes sense.Just depends on the amount they have leveraged against ABF Freight.If they leveraged alot then they must keep ABF.if they diversified and diverted the leverage elsewhere then ABF is expendable.Just have to look at revenue earnings of all the companies that are owned by Arcbest
I was waiting for someone to call me out on that one.Because I'm not totally sure if it's accurate but nonetheless it is one of the main elements.This leverage is what I believe helped the Yellow/Roadway administration dupe the Teamsters into submitting a cheaper extension of the contract.In turn the Teamsters most likely loaned the money out to keep that arm of YRCW open.Thus creating a leverage on us Teamsters to have a job to some degree.But but I'm not nieve enough to the point that the union administration isn't getting more out of it than just dues paying members..get my drift?Makes sense.
I agree with your theory. I think that's exactly what they're doing. I have the same theory.I was waiting for someone to call me out on that one.Because I'm not totally sure if it's accurate but nonetheless it is one of the main elements.This leverage is what I believe helped the Yellow/Roadway administration dupe the Teamsters into submitting a cheaper extension of the contract.In turn the Teamsters most likely loaned the money out to keep that arm of YRCW open.Thus creating a leverage on us Teamsters to have a job to some degree.But but I'm not nieve enough to the point that the union administration isn't getting more out of it than just dues paying members..get my drift?
it still accomplishes nothing by making ABF a stand alone.. then ABF cant make ARCBEST look or be as great as it is.. it cant then funnel ABF money around, it cant then pay JUDY.. It can only begin the old CF CNF game which took many many years to go under.. they are trying to do this in a sense but cant now.. ABF Freight created this Giant, you cant simply eliminate it. The only way to do this is to Fail or sell to which there is a contract obligation to us until it runs out. ABF feeds ARCBEST and all entities, without it, it dies. its better without so much financial liability towards you and me.. that's the game.. it wont die, don't live in fear.. but don't give in... Hoffa has done both.. Fred Zuckerman has not..
Unless they are able to broker the upacks and relocubes out to a flat bed carrier like the PODS are.. Remember without a freight company ABF moving is nothing more than a name, can't move u-packs and relo's without a trucking company.