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XPO | Interesting read.........

By no means am I happy or supportive of the pension going away. My only point is you are getting the pension you earned up to the point they changed. Nothing was "taken" as far as that.

I don't think Con-way did anything much differently than lots of other companies out there are doing regarding pensions.

The point of the OP's link is that even the unions are looking to change to 401k type of retirement benefits. Now if the union's doing it, it can't be bad, right? (Insert "snicker" here in case you don't "get it")
They can't support their obligations without new blood. The numbers and timeline are right there in the article. UPS got out, why would we want to get in?
 
Songremainsthesame said:
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You just keep telling yourself that hoss... If it makes you feel better.
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You really don't get the subtleties, do you?
 
Instigator said:
By no means am I happy or supportive of the pension going away. My only point is you are getting the pension you earned up to the point they changed. Nothing was "taken" as far as that.

I don't think Con-way did anything much differently than lots of other companies out there are doing regarding pensions.

The point of the OP's link is that even the unions are looking to change to 401k type of retirement benefits. Now if the union's doing it, it can't be bad, right? (Insert "snicker" here in case you don't "get it")
They can't support their obligations without new blood. The numbers and timeline are right there in the article. UPS got out, why would we want to get in?
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We don't need to get in. We can simply build on our existing pension. Nobody said we have to participate in the union pension. As stated before, our contract is ours to negotiate and then vote on anyway we want.
And as far as "everyone else is doing it", did anyone's mother ever say that made it okay? We spent 3/4 of a billion dollars on an overpriced T/L carrier that we had no business doing. How far into the future would our pension have been funded with 3/4 of a billion dollars in 2006? The corporation would have met it's obligations to it's workforce and demonstrated some integrity as a bonus.
 
Bankrupt said:
That's easy, the union will provide us with a voice. And then a written contract. Our voice channeled through a threat has already benefited ALL of us. Thank a union member and or your local organizing committee when you see them.
So the next question is; What will the corporation do for you?.....to you? lol
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Per Greg L. , stated at XNH " The company will take from the drivers, whatever is necessary to keep investors happy". Be warned that is what the company will do for you.
 
highspeeds said:
Okay, that's great. But what will that union do for you ?

The topic here is pensions being cut. And the union ain't doing anything to stop it. They are willfully participating in the process.

Go work for a union carrier. Concessions. Give backs. Junk equipment.

Holland around me.... they worked the holiday weekend. Got Thanksgiving off. That was it. Management trying to force them to the street out of hours. It's terrible. We got guys that quit there to come work for us and love it.
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no, we get the day of AND the day after off, i am a holland driver, try again.

and last i knew, you guys are on permanent concessions, with no recourse, unless you were to negotiate it back.
 
buffalobill said:
no, we get the day of AND the day after off, i am a holland driver, try again.

and last i knew, you guys are on permanent concessions, with no recourse, unless you were to negotiate it back.
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Damn! You just ruined Highspeeds' impeccable credibility. Hope you can sleep tonight.
 
Instigator said:
By no means am I happy or supportive of the pension going away. My only point is you are getting the pension you earned up to the point they changed. Nothing was "taken" as far as that.

I don't think Con-way did anything much differently than lots of other companies out there are doing regarding pensions.

The point of the OP's link is that even the unions are looking to change to 401k type of retirement benefits. Now if the union's doing it, it can't be bad, right? (Insert "snicker" here in case you don't "get it")
They can't support their obligations without new blood. The numbers and timeline are right there in the article. UPS got out, why would we want to get in?
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the union isnt going to 401k type plans, ups and upsf have their own company plan, like you used to. these type of plans are in good shape.
 
Gunner119 said:
I heard a new one last night from two different drivers at different times , from different terminals. They said that the Palace was looking into buying out what little bit of pension that us old timers have. They want everyone to be on the same page. In other words right now some drivers has a pension ( If you want to call it that ) while others don't . They want to give us a lump sum now and not have anything when we retire. If they were to do something like that there is no way the amount would be anything substantial . It would be just another way of spitting in our face and laughing at us. If they do something like this it would just go further to prove they are no more than white collar trash.
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A buyout wouldn't necessarily be a bad thing. The pension payment stays the same from the first payment to the last. If they gave me a decent buyout amount, I could invest it and let it grow.
 
snaildriver said:
A buyout wouldn't necessarily be a bad thing. The pension payment stays the same from the first payment to the last. If they gave me a decent buyout amount, I could invest it and let it grow.
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Was the original program structured to pay til you die? If so it would definitely have to be a good buyout amount since you wouldn't know how much to expect because you don't know when you're going to kick it...
 
highspeeds said:
Okay, that's great. But what will that union do for you ?

The topic here is pensions being cut. And the union ain't doing anything to stop it. They are willfully participating in the process.

Go work for a union carrier. Concessions. Give backs. Junk equipment.

Holland around me.... they worked the holiday weekend. Got Thanksgiving off. That was it. Management trying to force them to the street out of hours. It's terrible. We got guys that quit there to come work for us and love it.
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LOL
 
highspeeds said:
Okay, that's great. But what will that union do for you ?

The topic here is pensions being cut. And the union ain't doing anything to stop it. They are willfully participating in the process.

Go work for a union carrier. Concessions. Give backs. Junk equipment.

Holland around me.... they worked the holiday weekend. Got Thanksgiving off. That was it. Management trying to force them to the street out of hours. It's terrible. We got guys that quit there to come work for us and love it.
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If they were off thanksgiving they weren't out of hours, and you repute some of your post where Union
carriers don't get as much freight!! Sounds like they have plenty freight!! I really don't think they would force them out if they were out of hours... And we have guys that quit there to come here and love it!!!
 
highspeeds said:
Okay, that's great. But what will that union do for you ?

The topic here is pensions being cut. And the union ain't doing anything to stop it. They are willfully participating in the process.

Go work for a union carrier. Concessions. Give backs. Junk equipment.

Holland around me.... they worked the holiday weekend. Got Thanksgiving off. That was it. Management trying to force them to the street out of hours. It's terrible. We got guys that quit there to come work for us and love it.
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You guys have some pretty rough old sterlings as well, two guys that work for ConJob who live in my neighborhood, that's what they call it !!! Tell me some pretty slimy crap about that place as well!! You are on some permanent give backs and some pretty shady crap on that pension that you speak of as well!!!! As far as equipment goes I can only speak for my ( assigned) tractor which has a few miles on her but still runs really good and looks and drives great!!!!!!
 
Songremainsthesame said:
Was the original program structured to pay til you die? If so it would definitely have to be a good buyout amount since you wouldn't know how much to expect because you don't know when you're going to kick it...
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There are several ways to take it. You have to decide at retirement. I chose to take mine until I die, and if my wife outlives me, she gets 75% of the monthly amount until she dies. I could have taken a 5 or 10 year payout, which would have increased the monthly amount, or I could have taken a lump sum.
 
snaildriver said:
There are several ways to take it. You have to decide at retirement. I chose to take mine until I die, and if my wife outlives me, she gets 75% of the monthly amount until she dies. I could have taken a 5 or 10 year payout, which would have increased the monthly amount, or I could have taken a lump sum.
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This is one of the benefits of an IRA .... Opposed to a pension ... When the wife passes with a pension that money is gone .... Not with an IRA .. My children will get the rest .... And it will be a considerable amount.
 
runawaytrain said:
This is one of the benefits of an IRA .... Opposed to a pension ... When the wife passes with a pension that money is gone .... Not with an IRA .. My children will get the rest .... And it will be a considerable amount.
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Guess what's even better... BOTH!! Pensions cost you the employee nothing, so invest your own money as well and you'll retire in real style.
 
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