XPO | Interesting read.........
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Michigan Bill
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i already did talk to a road driver, what, you going to try and say what he said was a lie, and cover for the conway smoke and mirrors show once again?
highspeeds
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Ummmmm, every truck driver does a 34 restart eventually. The laws on logs are enforced by DOT, not your company or your union.
Michigan Bill
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uh, teamsters dont do resets at freight barns, we recap. you do realize thats one way to work time off to your advantage, right? but your a city driver, it seems, so its understandable that you wouldnt know that...
We have a lot of customers who use us because of low freight claims and our Guarantee service times!!
Likewise!!!
Come on speeds, those guys aren't gonna work out of hours!! Won't happen!!!! Your right they May have worked on Friday after Thanksgiving but I'll bet it was volunteeres, they like the double time and a half!!! City guys work 14 hours s day which gives them 56 hours, that leaves 4 hours remaining!! If they don't have a full 8 to work on Friday they don't have to work!! All this is what the union does for them!!! Nothing is perfect, but having rules in place and some one to make sure we all abide by them does make for a better work place !!!! Even you would have to admit!!
At Conway, we worked on the Fri after Thanksgiving.....AND the Saturday. Maybe not everywhere, but we did work it. They got very willing volunteers. If they could not have done that, they would have tried to force from the bottom. It's the freight biz, and freight has gotta move.
freight jockey
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If you fellas had any brains you would run the other way from the Teamsters. I have 38 years in Central States Pension and with the new laws passed benefits can be cut at any time even after I retire, and may be cut more than once if the fund deems they are in "trouble".
I have worked at Holland the last 11 yrs. and it is a craphole, junk equipment, jerks to work for, and the concessions keep coming as some of the diehard union boys think this company is going to right itself and go back to the old ways. Isn't going to happen, today, tomorrow, or ever with scumbag YRCW calling the shots.
As far as my wife receiving any benefits after retirement it will only happen when and if I retire, if I would die before retiring the fund would issue her a one time check for a paltry couple of thousand for 38 yrs. of contributions on my behalf. The Teamsters pension funds are not too proud to steal money from widows, I have seen it happen on numerous occasions. A co-worker passed away at a previous employer and his widow got a check for $2100 because he only had 29 yrs. in. If that money would have been in a 401k and least she would have received what he had in it.
Coworkers (mainly city guys) do not respect our equipment at our barn and go out of their way to trash a clean truck. Our contract is a worthless as the paper it is written on because the membership keeps voting in concessionary memorandums of understanding.
It is nothing but a dues game with the Teamsters, they get our $53 a month and you never see them again. Bitter ??? Darn right I am, at over 60 yrs. of age and this much time invested into a pension fund that is worthless where do I go but right down the bowl.
I have worked at Holland the last 11 yrs. and it is a craphole, junk equipment, jerks to work for, and the concessions keep coming as some of the diehard union boys think this company is going to right itself and go back to the old ways. Isn't going to happen, today, tomorrow, or ever with scumbag YRCW calling the shots.
As far as my wife receiving any benefits after retirement it will only happen when and if I retire, if I would die before retiring the fund would issue her a one time check for a paltry couple of thousand for 38 yrs. of contributions on my behalf. The Teamsters pension funds are not too proud to steal money from widows, I have seen it happen on numerous occasions. A co-worker passed away at a previous employer and his widow got a check for $2100 because he only had 29 yrs. in. If that money would have been in a 401k and least she would have received what he had in it.
Coworkers (mainly city guys) do not respect our equipment at our barn and go out of their way to trash a clean truck. Our contract is a worthless as the paper it is written on because the membership keeps voting in concessionary memorandums of understanding.
It is nothing but a dues game with the Teamsters, they get our $53 a month and you never see them again. Bitter ??? Darn right I am, at over 60 yrs. of age and this much time invested into a pension fund that is worthless where do I go but right down the bowl.
highspeeds
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Every company has it's discount lanes. Every company has that one salesman that could sell an eskimo ice cubes.
More times than not, it's the cheapest price. Why do you think these low budget carriers never went under in the recession ?
highspeeds
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So you work a 60 hour max log five days a week and are doing recap ?
I am currently a city driver. Have run L/H. Often sign up for extra runs.
We run 70 hours max. And that 34 hour restart comes in handy. More than once a driver has been hustling to get done by 2330 Sat night to be able to start on time at 0930 Mon.
If he had to recap, without a restart, he'd be out of hours by Wednesday. That's not acceptable.
You have just described most freight companys in the country... 401 k can
tank at any given time... Basically the same system that put central states in trouble, bad investments!! IRA's is the safest bet... That and a secret hiding place! Not all teamster funds are in trouble, but I don't need to tell you anything..... Sorry for your situation, theirs a lot of us in multi- employer funds that are in the same shape.... thats why I've been stashing money forever!
I make enough money in 50 hours to where I don't have to work every minute of my life! And all that restart is good for in the freight business is to screw junior men out of work!! The openboard drivers any way.. But hey, do what yA have to do!! Nobody else matters!! I run line haul, 70 hours no restart.... But like I said, 50 is my magic number. I make anymore and uncle Sam gets to much. Plus I enjoy my home and my toys so there yA go... Lazy ole Union freight hauler.... LOL
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Michigan Bill
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it is acceptable, although i guess from your assumption, it wouldnt be. we run a 70 hr clock, not a 60. get it now?
I noticed no one suggested you come work for Conway Freight. But if you were to hire on here after 2006, you get a 401K. And they contribute enough to say they are contributing. We had that when we had the pension and it is a savings account that pays okay. It's like comparing a water pistol (401K) to a howitzer (pension). What I saved has no bearing on the pension issue.
Our pension doesn't pay until retirement either. I die and it evaporates. Sorry wifey. The corporation's 401K contribution after the pension days contribution is pennies on the pension dollar. IF it were comparable to the pension in payout, I would like it too. But they would have to contribute another $500/wk starting back in 2006.
Hope you feel better.
I know that bitterness, but yours is premature. Please let us know when your pension doesn't pay in YOUR retirement. Mine will pay 25%......maybe.
Our line runs a 70 and the city a 60. No 34 hour restart honored. You want to work your guts out? It's possible. I like about 50-52 hours. Anything over that and Uncle Sam gets the lions share. Home time with the family? Now you're talking!
freight jockey
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No, my bitterness is not premature. The multi employer pension reform bill which is now law gives the fund the power to cut our pensions if the pension is in critical status, which Central States is.
If I wouldn't have made the mistake of going to Holland 10 yrs. ago and Hoffa & YRC sticking it to us I would have received approx. $40,800/ yr. Thanks to the crooks we fall under a YRC penalty so I was cut down to $33,900 per year. With the new reform bill the pension has the power to cut it to as low as 110 % of what PBGC would pay which is approx. $11,800 per yr. So here I will sit once retired not knowing when another cut might come and my pension could basically range from 11,800 to 33,900 /yr., that is a huge difference.
Lets look at the track record of Central States, they are corrupt as can be and have been the personal piggy bank for the Mafia in the past. Their track record investing is horrendous but they do compensate their investment firms generously to loose money. Management receives bloated salaries, the top exec receives $660k /yr. Bottom line is it is just a matter of when not if we reach the bottom payout number as they will squander what they have left. They are very good at sending out fancy printed material though explaining their major losses with terms such as "Perfect Storms".
Now the rah rah union koolaid drinkers will tell you we have a vote on any proposed cuts which is true. What they won't tell you if the funds demise would affect PBGC to the amount of at least $1 billion the vote can be overridden so it is basically a sham. Central States is at least $19 billion in the hole.
freight jockey
TB Lurker
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IRA's and 401k's are usually both invested in mutual funds or stock of one's choosing, so other than different IRS rules they are essentially the same. I have an idea what you mean is a company sponsored 401k which limits you to the investment vehicles you choose, usually the employer gives you a few choices of investments they have picked.
I have both IRA's (Roth and regular) with Vanguard and my wife has a 401k through her employer with Fidelity but we both have literally hundreds of investments to choose from. Even with the market ups and downs she has done very well with an Index 500 fund over the past 3 decades.
Yes I realize all Teamster funds are not in trouble, some are doing well. The problem with Central States has been it has been the personal playground of the Hoffa's since it's
inception, well the Hoffa's and the Mafia that is.
Wow, and all this coming from a new (teamster) member to the site. All this time I thought this legislation was written to avoid any effect on the PBGC or the tax payers. Let the fund correct the problem through the market. What you also forgot to include was the nature of the bad investments you spoke of. Money on bad real estate loans wasn't it? Not so much the fund screwing you but the banks. The loans made to the mob saw a much better return on investment. Other funds are struggling and are recovering.