Interesting, you didn't have real time figures either.
LMAOJust to let everyone know... "Freight Slayer" was actually citydog posting on a multiple account...
I cut him a break but if I catch people creating another account to talk to themselves or hide I will ban you from Truckingboards forever.
Tired of the silly childish ::::
Very funny... But lacking in honesty.
R.Racer, you like to compare company A's pension, to our whole package (401k & pension) as well as the certain demise of their superior insurance.. Also, you like to give examples of optimistic results for all of our investments, thereby making thing equal or comparable. The truth is, at each level of UPSF (our true competition) compensation, they exceed our compensation. Their Pension is defined, based on years of service. There may be certain circumstances where they are comparable, but over all better for the driver. They have a 401k too. They have far better insurance...
You also can't bank on the supposedly "guaranteed" union pensions. Looks like the new regulatory changes will greatly reduce the payouts. At least with our 401k money it's protected. I just feel bad for the union retirees who will have to take a reduction in their benefits after years of working towards their promised monthly payouts.
How is UPSF our "true competition" when not only do they run regional, short haul LTL but they also have long haul LTL, a truckload service, a dedicated driver service, etc..., your comparing apples to oranges. Plus, they've only been in business for less than 10 years, they're also an unproven commodity. Let's give them another 25-30 years in the industry and we'll see where they stand. You mustn't forget that everything is good when a company is young...AF, Viking, Yellow, Roadway, ABF, etc..all started out well but where are they now?
I wonder how the long term outlook for UPSF will be as well. I notice that most of their barns are worn out, with holes you could lose a dolly in. I still see tractors with the Overnite paint scheme, also trailers that say Motor Cargo. Upgrading and replacing facilities and equipment is one area where Fedex is light years ahead of them. Over time this will become a major issue as the huge cost of trying to remedy the mounting backlog of infrastructure and equipment deficiencies hits home. The union is apparently causing so much outlay of profits that they can't afford to do what is needed. Probably will be another case of decline in a company directly related to unionization.
Still waiting for the language pertaining to reduction of fully funded pension funds that redracer claims is in the bill. There are many funds that were rebounding prior to this legislation. It is also headed to our court systems and will be contested.
Sure racer. I posted it up and so did SwampRatt I believe. Both the insurance and our WSPT links. I will retire out under the PEER program with 25 years at around $3200 a month. I was blessed with a few "bonus" years where the fund gained tremendously and the additional gains were passed to the vested participants. Very lucky there.
Not sure about the condition of their barns, but nice barns don't contribute anything to our financial well being. We spend very little time there, and customers rarely, if ever visit them. On to the fleet: In my neck of the woods, "most" UPSF equip. compares quite favorably to our aging fleet. Yes, our fleet has become seasoned, compared to the good old days. I'm sure it is cost beneficial, and I never complain about driving 750,000 or million mile truck. Better for me than the newest automatic. Personally, I find that the fleets appear quite equal. We both have some old, unsightly trailers.
Barns like your home or any other property must be maintained. Deferring to do so until later usually will end up costing much more in the end. Technology is also an area I should have mentioned in the initial post and is another area Fedex is way ahead on. For example out dock door scanners. UPSF still uses paper, much less efficient. I talked to one of their road guys who said he even has a hard time finding load bars and other basic equipment at some barns. I think you are also wrong about their trucks and trailers as I have talked to many of their drivers about just this subject. As I stated before these policies will come back to bite in the long run. Common sense always wins out over wishful thinking.
There was never an argument regarding our own responsibility to take care of ourselves. The point is, we have more than one stream of retirement income available to us. The decisions made by our trustees are no different than the investment manager many hire to handle their personal investments. They work for us. I am fortunate to have a fund that is considered fully funded.
It may be the location also. I still see some tractors wearing the "Motor Cargo" and "Overnite" colors around here. Many new tractors and trailers also.
Well, that is at least a better comment than most of yours. I never once thought of you negatively. Simply on a different page.
Really !!!
