teamster776
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How do you figure they (ABF) will be non-union?
ABF | Is ABF ready to buy???
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Benny Hill
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We're not discussing this issue here. Take it to:
TEAMSTERS / NON-UNION DEBATE FORUM - Truckingboards Truck Driver Forum
TEAMSTERS / NON-UNION DEBATE FORUM - Truckingboards Truck Driver Forum
keepontruckin
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if yellow Collapses don't you think that ABF will buy itself out of the union? i mean they tried to do it before the last contract took place... i think that was just the beginning. ABF will not have to pay the unfunded part of the YRC.. they are only responsible for that of their own players, not yrc.. and if abf has the money to buy another carrier, don't you think they have the money to buy abf out of the IBT??????
No, they can't buy out of the union.
Not talking about who stopped ABF. I'm talking about the Teamsters that complained about ABF wanting to withdrawl.
Tell me, ho is this a fair and good program for ABF anf the Teamsters.
If YRC goes down, that doesn't mean ABF will go under. Either the Union will have no choice to let ABF pullout, or I see ABF going to court and showing they can't afford it and/or ABF shouldn't be held responsible for employee's retirement they never even employed. And possibly filing bankruptcy to force a renegotiation on the pension plan with the union.
Why is everything so black and white with you guys?
I don't know about that.Do you think that if YRC goes belly up(hoping that it doesn't) do you think that the IBT wouldn't work something out with ABF. If ABF had to make the pension payments for all the company's that were in the multi-employer pension fund at one time being the only one left, that would bankrupt the company in weeks. I don't think that the IBT would let that happen. There would be no more freight teamsters left.
THEBIGSHOW
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If ABF would have bought out a year ago all of the cash in the bank right now would have been gone and we probably would have closed up by now. ABF has a lot of bright people in charge down in the Fort and if YRC goes under, which is probably what they are banking on, then they won't have to pay the withdrawal penalty. Robert Davidson himself gave an interview saying we've been in a freight recession since fall of 06. To gamble on the economy to dramatically pick up in order to replenish the cash reserves from buying out at the time would have been ******* for all. They absolutely did the right thing by staying put and all of our proposed 401ks would have been in the
ter.If ABF would have bought out a year ago all of the cash in the bank right now would have been gone and we probably would have closed up by now. ABF has a lot of bright people in charge down in the Fort and if YRC goes under, which is probably what they are banking on, then they won't have to pay the withdrawal penalty. Robert Davidson himself gave an interview saying we've been in a freight recession since fall of 06. To gamble on the economy to dramatically pick up in order to replenish the cash reserves from buying out at the time would have been ******* for all. They absolutely did the right thing by staying put and all of our proposed 401ks would have been in the
Still would rather have the 401K. It may be in theshit er. But its also on sale. If you keep investing, when the market rebounds, you'll look like a genius. You'll have a great rebound on the 401K. Remember BUY LOW SELL HIGH. It seems you guys only want to invest with the market is high. Bassically buying high. WTF?
stony were we not a capitalistic/free market government during regulated routes,rates and service......as i remember we were.....the non-union companys i worked for were humming along making great capital.....help me out here.....why did deregulation have to happen....the company i worked for was aganist it......i dont get it....
Oh, I see that you are back peddling again. Here is your quote.
If ABF wanted to buy out of the CSPF like UPS did, then why didn't they? Just what withdrawal plan did you back?
Why don't you answer my questions?
How dare you post something like that? I would say that just about every union man on this site knows someone who works for a YRCW owned company & cares very much about them losing their jobs. And I am quite sure that many union & non union members of truckingboards have friends or relatives who's lives would be adveresly affected if they were to lose their jobs at YRC. So IMO you are dead wrong when you post "most".........You may not care but I don't believe that most of us only care about the pension.
Krimler you are referring to the MEPF's but my response was to username keepontruckin's post about ABF buying out of the union.I don't know about that.Do you think that if YRC goes belly up(hoping that it doesn't) do you think that the IBT wouldn't work something out with ABF. If ABF had to make the pension payments for all the company's that were in the multi-employer pension fund at one time being the only one left, that would bankrupt the company in weeks. I don't think that the IBT would let that happen. There would be no more freight teamsters left.
Yeah Benny this is a little off topic, but being this is an issue that is somewhat intertwined, needs the discussion. The pension plans that ABF wanted out of was all of them. The problem was there was no mention of a replacement for the plans already ion place. Therefore, the withdrawal request was denied in whole. UPS has the withdrawal approved from Central States, and the funding and plan to put into place, once withdrawn.
Personally, I hope ABF does not buy any carrier right now. The work is ot there and I suspect that YRC has sufficently ***** the USF companies to make them worthless, just like they did Preston. Unless of course ABF needs physical assets, terminals, equipment and the like, that in fact, would not help the drivers that need jobs.
Personally, I hope ABF does not buy any carrier right now. The work is ot there and I suspect that YRC has sufficently ***** the USF companies to make them worthless, just like they did Preston. Unless of course ABF needs physical assets, terminals, equipment and the like, that in fact, would not help the drivers that need jobs.
The company has said time and time again that the contribution to the fund should YRC succumb to demise, would be slightly lower than the withdrawal liability. The problem is when the genius population does not pay attention and submit their OPINIONS in public with no merit.
Then what is keeping you here at ABF? I thought you had plans of going to FEDEX, where they would treat you right and give you what you want. Then why the hell are you still here? Go to fed and get what you want 401k, and all the stuff you cry for on a daily basis.
shuttlenut
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To Stoney ABF; I still can not believe your statement about wanting a 401K and our pension plan That statement just goes to show how the younger people think. ME ME ME first. There are alot people today who HAD 401k's and are retired and now have NOTHING at all. people who thought they were set for life. You probably think that Bush was a great too. Before you put your mouth in gear you should think first about what's going to come out of it. Shuttlenut 034 retired
OK. My grand dad retired from Yellow in 81. Still going Strong today at the age of 90. His pension pays today about $800 a month net. He had 25 years with the Teamsters. He gets a $10 a month in cost of living raise every year. WOW!!!! He even admitted its sickening.
My dad retired from Big R in 06. His net take home is $3200. He gets a $50 a month in cost of living every year.
A 401k if ran right pays off big. This kind of slump we had this year in the markets don't happen every year. In fact the stock market has averaged nearly 12% in gains for the last 70+ years.
If you fund a 401K for 25 years at 15% of your income. Lets say you make $50,000 a year every year. Not one raise. EVER. That's $7500 year. In 25 years you would invested $187,500 of your own money. Now in that 25 years you averaged that 12%. You would have $1,174,298.93. You made $986,798.And that doesn't include any kind of employer match. And and again not one raise in 25 years.
Now after you retire. And if you making that 12% still. You can live off 8% of that growth and still get a 4% cost of living raise every year. To me that's better then the pension.
Now what if I'm half wrong about the 12%. Or you do a really crappy job of investing and only average 6% over 25 years. That's still $433,125.69. You still made $245,625.
Now if you can get the pension and do a 401k. Then by all means do both. That's what I'm doing.
I'm loving the market being low now. Its on sale!!! When it goes back up, and it will. I'm going to have almost twice as many shares in my fund going up in value.
Also a 401k, you can take with you from job to job. Or just role your 401K into an IRA, and start a 401K with the new job. Its yours.
I just feel the pension is outdated, and a real bad product, if its going to be your only income after you retire. Well that and S.S.I. Which is another
ty program from the government.