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Yellow | Getting a lot of peddy crap orders and rules from this company I won't name.Putting that aside. What

albag said:
Perhaps YOU should do some research yourself. His company was paid $5 million to broker the refinancing of YRCW's debt! But, hey, what is a little confusion? Try using some of the other capabilities of the Internet. Instead of griping here about things you have no control over!
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I don't think its me that's confused but I'll check, I'm pretty sure he was appointed to the board before opening his private firm that was hired by the board.
 
Canadian Flyer said:
When will you people learn that a man is not the same as the company he works for? What you just did is spun publicly available information to sound like some kind of conspiracy. Your opinion on the facts is not the facts. Just because you think something is a certain way doesn't make it true.

Here's a brain teaser for you. If the IBT is really conspiring with YRCW against its own membership, then how will voting no make any difference? If what you want is worth so little to them, why continue to be represented by the IBT? Change is as easy as taking a withdrawal card and voting the IBT out. Then go talk to the UAW. They seem to be doing great for their members. If YRCW is hiding money, the UAW will get it for you.
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I agree with you "conspiring " is the wrong word but I never made that accusation or used that word. What you don't see by not being a member is that some have a sense that maybe the representation is not as strong as they would like it to be. And that is probably brought on by frustration. I never said they were hiding money but I do disagree with how it's spent at times and although it's not my job to decide how it's spent I am entitled to my opinion.
 
Keepingon said:
I don't think its me that's confused but I'll check, I'm pretty sure he was appointed to the board before opening his private firm that was hired by the board.
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Appointed to board of directors in 2011, his company MAEVA was hired in 2013
Got this from TDU didn't do the whole article.

On February 28, 2011, Hoffa announced that Wilson was joining the YRCW restructuring efforts on behalf of the Teamsters to “break the logjam between the company and the lenders’ group.” Wilson also had a role in the Hostess restructuring, with MAEVA reportedly receiving $200,000 per month over an extended period. In October 2013 MAEVA filed papers requesting payment of $3.5 million in the bankruptcy court in the case. If Hostess had survived, the company would have been required to pay MAEVA’s fees.

But YRCW was a bigger cash cow. Wilson’s initial YRCW work in early 2011 paid him $125,000 per month, plus a bonus of $1.5 million in July 2011. That was just weeks after Tyson Johnson excitedly told the Teamster Convention in Las Vegas of the YRCW restructuring, in which Hoffa named Wilson as an IBT appointee to YRCW's board. Sources claim that Wilson convinced his fellow board members to pay him an additional $1.5 million for his role in the restructuring, for a total payout of over $3 million for work that lasted only five months.

Wilson is paid $175,000 per year as a member of YRCW’s board.

During the November meeting of Teamster local officers in Dallas, YRCW’s CFO, Jamie Pierson, told the Teamster officials that they had evaluated various restructuring experts and determined that MAEVA was the best resource to lead the restructuring.

On February 1, 2013, the YRCW Board engaged fellow board member Wilson to lead a strategic initiative related to restructuring again the company’s deals with the banks. The engagement agreement (contained in SEC filings) explicitly states that the IBT approved of this arrangement! According to the contract Wilson is receiving $250,000 per month and is eligible to receive a completion bonus not to exceed $5.5 million if members approve the concessions and the deal is consummated. Wow.
 
Keepingon said:
Appointed to board of directors in 2011, his company MAEVA was hired in 2013
Got this from TDU didn't do the whole article.

On February 28, 2011, Hoffa announced that Wilson was joining the YRCW restructuring efforts on behalf of the Teamsters to “break the logjam between the company and the lenders’ group.” Wilson also had a role in the Hostess restructuring, with MAEVA reportedly receiving $200,000 per month over an extended period. In October 2013 MAEVA filed papers requesting payment of $3.5 million in the bankruptcy court in the case. If Hostess had survived, the company would have been required to pay MAEVA’s fees.

But YRCW was a bigger cash cow. Wilson’s initial YRCW work in early 2011 paid him $125,000 per month, plus a bonus of $1.5 million in July 2011. That was just weeks after Tyson Johnson excitedly told the Teamster Convention in Las Vegas of the YRCW restructuring, in which Hoffa named Wilson as an IBT appointee to YRCW's board. Sources claim that Wilson convinced his fellow board members to pay him an additional $1.5 million for his role in the restructuring, for a total payout of over $3 million for work that lasted only five months.

Wilson is paid $175,000 per year as a member of YRCW’s board.

During the November meeting of Teamster local officers in Dallas, YRCW’s CFO, Jamie Pierson, told the Teamster officials that they had evaluated various restructuring experts and determined that MAEVA was the best resource to lead the restructuring.

On February 1, 2013, the YRCW Board engaged fellow board member Wilson to lead a strategic initiative related to restructuring again the company’s deals with the banks. The engagement agreement (contained in SEC filings) explicitly states that the IBT approved of this arrangement! According to the contract Wilson is receiving $250,000 per month and is eligible to receive a completion bonus not to exceed $5.5 million if members approve the concessions and the deal is consummated. Wow.
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You had to go and put all this on here??? Now my team partner will have something to add, I am sure!!!!
 
Keepingon said:
I agree with you "conspiring " is the wrong word but I never made that accusation or used that word. What you don't see by not being a member is that some have a sense that maybe the representation is not as strong as they would like it to be. And that is probably brought on by frustration. I never said they were hiding money but I do disagree with how it's spent at times and although it's not my job to decide how it's spent I am entitled to my opinion.
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Believe me, you're echoing sentiments that I hear about the Teamsters often. And you're right, you're entitled to your opinion and I respect your right to have one. The Teamsters aren't representing as well as they should, and YRC doesn't have to make the workplace a hellhole. I don't know what either of those things are like, which is why I try not to talk about how you guys should feel.

What I'm trying to say is vote how you feel you should, but do yourself a favor and seek to understand the truth before you vote. And the truth is, whether you agree with how they spend what they spend or not, YRC only has as much money as the bank lets them keep. That's the nature of being in as much debt as YRC is.
 
Keepingon, I'm pleased you did some research. The fees paid to Wilson were "reasonable and customary". It seem like a lot to us but at his paygrade, he negotiates fees. Generally as a percentage of what he accomplishes. And whether you approve or not his fees were well below what he could have received.
 
albag said:
Keepingon, I'm pleased you did some research. The fees paid to Wilson were "reasonable and customary". It seem like a lot to us but at his paygrade, he negotiates fees. Generally as a percentage of what he accomplishes. And whether you approve or not his fees were well below what he could have received.
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I'm probably just jealous but would prefer not to admit it.
 
tutone710 said:
:heykoolaid: Failure to follow directions
5Q4zx06.jpg
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It is most curios that you post a JPEG, defending abuse of the English language, that is grammatically incorrect.

I forgive ignorance, not stupidity nor obstinance.
 
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