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Estes | Letter to Estes West Employees regarding frozen pension

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teamster elvis

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Can anyone make heads or tails of the letter we received from corporate this week? Something about the IRS evaluating the frozen pension A viable pension plan that all G.I. drivers enjoyed I might add. That is untill Estes got involved with us. Hate to be pessimistic but sounds real suspicious to me.
 
This is what you can expect when you put all your eggs in one basket. It's not enough to sit on your hind end and think that HD is a great account and that the sales department can just sit tight and hunker down.... The sale of this company dosent worry me as much as the way they are handeling the slow down does. I talk to other drivers from other companys and they are slow but nothing like Estes.... all drivers get out but not at there bid times.......
 
Jim bob, you are correct in that the pension was frozen in 2003 under G.I. control. And I say G.I. control very losely because it was aparent Richmond was pulling the strings in Lamirada long before the buyout. Every year we seen more and more conforming to the Estes system. So as far as I'm concerned Estes froze our pension by proxy so to speak.
 
elvis said:
Jim bob, you are correct in that the pension was frozen in 2003 under G.I. control. And I say G.I. control very losely because it was aparent Richmond was pulling the strings in Lamirada long before the buyout. Every year we seen more and more conforming to the Estes system. So as far as I'm concerned Estes froze our pension by proxy so to speak.
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Estes controlled most of the strings 5 years before the "purchase" was made. They just had to wait for some freight contracts to expire. You know the interchanging of freight in CO and TX .. in the midwest most of the non home depot inbound freight was given to LME so they had to wait for that to expire before the richmond rednecks take full control. LME had Estes by the balls ... and they could not do anything about it till the contract expired. So that was another hang up why it took so long for Big E to take over out west. I wish you guys well out west.
 
elvis said:
Jim bob, you are correct in that the pension was frozen in 2003 under G.I. control. And I say G.I. control very losely because it was aparent Richmond was pulling the strings in Lamirada long before the buyout. Every year we seen more and more conforming to the Estes system. So as far as I'm concerned Estes froze our pension by proxy so to speak.
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you almost sound surprised, but this is what happens when a company owns 51%
 
I just wonder when Rob will try to bone the G.I. guys on their pension. A pension that he assumed responsibility for when he kidnapped G.I. Trucking. Try and pay out the pension with pennies on the dollar. I just know it's killing him mentally to sustain it.
 
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