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Yellow | IBT's Economic Advisor Says YRCW Will Very Likely Declare BK If TA Rejected!

Freightmaster1

Freightmaster1

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John Moses of Logistics Capital Management, IBT’s economic advisor on YRCW restructure, told the local officers at today’s meeting that the company will very likely declare bankruptcy if the tentative agreement is rejected, and that financing is contingent upon it passing. - See more at: Here is YRCW

:hissyfit:
 
So be it. The chance of them making it if we approve it are pretty slim too. The only way this outfit is going to stay open is if they figure out a way to earn money instead of taking it from thier employees.
 
Each previous vote was a bandaid, keep kiking the can down the road. Road is ending, no more places to kick the can. THis won't fix the debt, just buys more time for econmy to improve. Previous votes all did what was intended, preserve 32000 jobs for another time period. That's what this one will do too, if passed. QUestions is for how long
 
A lot of guys complain that the IBT doesn't look out for them. Yet they hired this guy and he goes over books and ya don't wanna believe him amyways. If this is all your company has ya can't expect raises. If ya don't like it ya have to leave. It pays over. $20/ hr and has good healthcare. Its acting way too spoiled to think we can have money that ain't there and act like its our job too close the place. It ain't. Nobody is gonna view a group of guys well who threw away good job on this day. Ya keep the lights on and then leave. It looks better for unions. And we don't all hit the streets at the same time completing for crap jobs........this ain't like bargaining with a company who had a savings account. It aint bargaining with a lot of better places to go either.


If they go down its best for unions if they go down on there own in the middle of one of these deals....not as we knowinglly vote them out of businrss. Treatment may be half decent for awhile at the nons bit it won't stay that way...and how long till another NMFA gets rewritten and it will be weaker than this. Is UPSF better? I don't think so.
 
It is a difficult choice to make. Kick the can down the road again until the next concession vote or vote to close the doors now. Best of luck to you all.
 
It's great that the IBT joins forces with our employers to degrade our pay and conditions while all of theirs continue to improve. How 'bout some genuine equal sacrifice, including at the IBT? BTW the IBT said the same thing about ABF some four years ago when they wanted 15% or our money. Eventually the IBT made damn sure they got it too.
 
ABFer said:
It's great that the IBT joins forces with our employers to degrade our pay and conditions while all of theirs continue to improve. How 'bout some genuine equal sacrifice, including at the IBT? BTW the IBT said the same thing about ABF some four years ago when they wanted 15% or our money. Eventually the IBT made damn sure they got it too.
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With all that`s gone on with the company and the IBT over the last several years, the question becomes, Can you trust what the company and the IBT says anymore. Neither has been totally honest with the membership and both have a vested interest in this agreement being ratified. Unions are voted in to represent employees to better wages, benefits, and working conditions. This hasn`t happened to teamsters in the trucking sector in a long,long time. Regardless of the language protections in this agreement, this "purchased Transportation" clause in the agreement will cost many teamster jobs. Anyone who has been with YRC,Yellow,or Roadway for many years knows that if they get an inch they take a mile and always get away with it. I sure don`t know the answer, but after all the crap that`s gone on with YRC and the IBT, I don`t trust either.
 
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Sgt. Schultz said:
With all that`s gone on with the company and the IBT over the last several years, the question becomes, Can you trust what the company and the IBT says anymore. Neither has been totally honest with the membership and both have a vested interest in this agreement being ratified. Unions are voted in to represent employees to better wages, benefits, and working conditions. This hasn`t happened to teamsters in the trucking sector in a long,long time. Regardless of the language protections in this agreement, this "purchased Transportation" clause in the agreement will cost many teamster jobs. Anyone who has been with YRC,Yellow,or Roadway for many years knows that if they get an inch they take a mile and always get away with it. I sure don`t know the answer, but after all the crap that`s gone on with YRC and the IBT, I don`t trust either.
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Only thing I question in this post is...Is the IBT being dishonest, or are they just plain incompetent to do the job? Dishonesty is punishable, incompetency is not.
 
slavenomore said:
A lot of guys complain that the IBT doesn't look out for them. Yet they hired this guy and he goes over books and ya don't wanna believe him amyways. If this is all your company has ya can't expect raises. If ya don't like it ya have to leave. It pays over. $20/ hr and has good healthcare. Its acting way too spoiled to think we can have money that ain't there and act like its our job too close the place. It ain't. Nobody is gonna view a group of guys well who threw away good job on this day. Ya keep the lights on and then leave. It looks better for unions. And we don't all hit the streets at the same time completing for crap jobs........this ain't like bargaining with a company who had a savings account. It aint bargaining with a lot of better places to go either.


If they go down its best for unions if they go down on there own in the middle of one of these deals....not as we knowinglly vote them out of businrss. Treatment may be half decent for awhile at the nons bit it won't stay that way...and how long till another NMFA gets rewritten and it will be weaker than this. Is UPSF better? I don't think so.
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Sorry slave but UPSF is better,Coming from former RSEL,Roadway,YRC,NPME driver .YRC and their concessions are only hurting the LTL industry.
Oh yeah and I was an O/O so I know you can't rob peter to pay paul,it only catches up with you when the wheels start falling off.
And for those that think we had our contract{UPSF} rammed down our throat think again more people showed up to vote at the hall than mailed in.

We gave nothing back,and they did fix the language to deal with subs and the new LHD.
Our medical is fine and does not cost an arm and a leg as some think.
It's not the NMFA but you don't have that either,do you?
 
Can anybody verify job count? TDU says 26K Teamsters jobs at stake. Teamsters website say 30K ,now it is 32K. So If I am correct there is 26K in Teamsters jobs and 4 to 6K in nonunion?:shrug:
 
TC1 said:
So be it. The chance of them making it if we approve it are pretty slim too. The only way this outfit is going to stay open is if they figure out a way to earn money instead of taking it from thier employees.
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Do you realize, The 'economist' that put Forth the idiodicy that 'companies take from their employees' was Karl Marx in his Manifesto on Communism? :regretful:
 
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Freightmaster1 said:
John Moses of Logistics Capital Management, IBT’s economic advisor on YRCW restructure, told the local officers at today’s meeting that the company will very likely declare bankruptcy if the tentative agreement is rejected, and that financing is contingent upon it passing. - See more at: Here is YRCW

:hissyfit:
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Again??????
 
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