Lady Trucker
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I believe they will look at a truckload carrier. These has been some talk about wanting to get into this area.
ABF | Is ABF ready to buy???
- Thread starter harleydad75
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Hope ABF considers Reddaway
I'm a Reddaway driver who hopes ABF is considering buying us. Although I understand that you guys dont want any dead weight slowing you down.
However Reddaway is the only profitable part of YRC. We serve 9 western states, and do a good job of it. We service 40 percent of all the LTL business in the Northwest. We cleaned up our mess, trimmed our costs, cut way back on staff and along with New Penn showed 6 positive quarters during these rough times. Although YRC does not report our numbers seperately, everybody in management knows our "OR". And the books would be open to potential buyers.
Two more points to consider : (1) Reddaway has only been Teamster a short time and is not part of the unfunded liability pension problem. (2) As proof, we are profitable... The Reddaway drivers are the only part of YRC that has not taken a pay cut. It could not be justified, because we are not part of the cash drain at YRC.
If you buy us or not, ABF is a great company with a great future. Be Safe.
I'm a Reddaway driver who hopes ABF is considering buying us. Although I understand that you guys dont want any dead weight slowing you down.
However Reddaway is the only profitable part of YRC. We serve 9 western states, and do a good job of it. We service 40 percent of all the LTL business in the Northwest. We cleaned up our mess, trimmed our costs, cut way back on staff and along with New Penn showed 6 positive quarters during these rough times. Although YRC does not report our numbers seperately, everybody in management knows our "OR". And the books would be open to potential buyers.
Two more points to consider : (1) Reddaway has only been Teamster a short time and is not part of the unfunded liability pension problem. (2) As proof, we are profitable... The Reddaway drivers are the only part of YRC that has not taken a pay cut. It could not be justified, because we are not part of the cash drain at YRC.
If you buy us or not, ABF is a great company with a great future. Be Safe.
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This didn't take long to translate into CB rumors. My buddy told me that he heard that ABF is buying Holland. I laughed and told him that this is one time where I know where a rumor got started and told him that the telephone game had went from an analyst writing an article about the possibility of ABF being positioned well and perhaps exploring possibilities to one day later changing to, "Didya hear? ABF is buying Holland!"
HELL! YOU'RE HIRED DRIVER!!!!! Just because of this post, I Hereby decided that I will let ABF purchase Reddaway! Good luck in your future ventures together. Love always, Billy Z
I really think that the company is focusing on keeping the system, as is, for now. As of the third week of May, after the Change of Operations has its' desired effect, we will be short 127 road drivers put on permanent lay off. This coupled with the hundreds of city drivers that are on letter of layoff, first quarter losses, present to me the idea that purchasing a company may not be in the cards, of the immediate future.
He's on track after 9 posts to have a better negative rep than Puffy! Give him a chance!
keepontruckin
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how can anyone sit in front of their computer right now and think that ABF would buy anyone or anything right now in these times??? I mean they posted a LOSS in last quarter and right now do u think that the economy will get any better for us that will allow us to post a profit for the 2nd? I have a bad taste in my mouth about YRC not being able to post a profit... They may not even make it through July!! and that scares me about retirement and pensions. So I Ask again, how can you buy a company when your current company is struggling in these hard times!
A.Duie Pyle last month cried poverty and terminated all their dock workers.Must of saved a lot of money ,just purchased three NewPenn terminals on that so called lease back program.These companies have the money to do what they want when they want,and if the price is right,no telling what they might do.
Hmmmmmmmmm. Sounds like we would have been better off for us to let ABF pull out of the multi-pension program after all. Sounds like I was right when I backed ABF's plan to withdrawal a year ago. Lets face it, the only reason most of you want YRC to stay alive is because of the pension plan.
Ys I know those guys will lose there jobs. But when freight demand goes back, ABF, UPS Freight and others will hire these guys.
keepontruckin
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Stoney,
you couldn't have said it better... Yes the pension may not be there for some.. But you know what will.... YOUR JOB, and more jobs when ABF grows.
you couldn't have said it better... Yes the pension may not be there for some.. But you know what will.... YOUR JOB, and more jobs when ABF grows.
keepontruckin
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crazy,
i think you need to get your head out of your azz and come to reality. this industry has changed over the last 2 years and it will only get nastier... like our TM tells our steward.. lean and mean...
i think you need to get your head out of your azz and come to reality. this industry has changed over the last 2 years and it will only get nastier... like our TM tells our steward.. lean and mean...
Maybe you can give me the dates so I can use all my days off before then...or
maybe you ought to get your head out of your ***...keepontruckin
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the writing is on the walls for that company...who can a company lose 1.379 billion, yes bud i said billion in the last 5 quarters and still think it can make a profit but the end of the 2nd quarter. it took YRC 51 days to pay the March part of our pension... And crazy look back into the history books of trucking.. can you name me the last trucking company that made it through when it asked for Concessions????
Well, that's all I hear from fellow Teamsters, is how if YRC goes down then the pension is in trouble. So do these fellow Teamster really care about the YRC Teamster employees or the pension?
And the pension was already in trouble, it has been for a long time. It was bad program from the start. It was setup when almost every company was in the union. But of course all that changed, but the plan never did. Its not fair for ABF to fund a pension plan that is also responsible for employees ABF NEVER employed in the first place.
It amazes me how most Teamsters are scared of change and are willing to adapt to the changing of times. All I hear is" WELL IN THE OLDS DAYS BEFROE DEREGULATION, WE MADE GOOD MONEY, HAD GOOD INSURANCE, AND A WELL FUNDED PENSIONS." Well, guess what, those days aren't coming back, and like it not deregulation is here to stay. By the way deregulation had to happen anyways. We are a capitalistic/free market and the government has no right to set rates or tell a company they have rights to run in only certain lanes. But all you guys want to do is live in the past, and depend on the government for help.
SAD, JUST SAD
Refresh my memory, just who was it that stopped ABF from doing the exact same thing that UPS did? Didn't UPS pay their unfunded liability & withdraw from the CSPF? Didn't ABF want to try and structure a long term payment plan instead of a total buyout? Wouldn't that have been considered to be a loan in violation of ERISA? Isn't that why the IBT did not sign off on it?
How could "we" have legally stopped ABF from doing what UPS did? Isn't it strange that the minute YRC got that extra dollar an hour put into the pension fund, instead of our paychecks, that ABF jumped on the bandwagon & not another word was said about withdrawing from the MEPFs?
keepontruckin
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And my biggest worry is that if and when YRC goes down, ABF will be able to be a non-union carrier.... that is my biggest worry..