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ABF | Now what do you think about ABF consessions

WoW.

BIG MONEY LOSS ???

Their "trick" worked.

ABF didn't HAVE to take a 64 million "goodwill" "charge"... BTW...NOT LOSS...a "CHARGE"....GET THAT STRAIGHT!!!
But it set the gears rolling as evident on this question.

This was a calculated risk. (there is some risk in doing this) in hopes that they could sell this plan of concessions to teamsters and YOU. Sounds like it worked (Sheep) They HAD to show a need for concessions...this does help to show that..but self inflicted..wonder why? DUH

We just raised our rates..along with the rest, and things are starting to turn (for ABF)
The window was closing...and you just came around and thought " golly, we lost 64 million" I'll hold the window...we need to give some of our money back.
Do some research of what goodwill charges is.
I suspect we were poised to show some small profit...
specially if we would stop buying new equipment to help in showing a loss.
Does a company buy more and more new equipment if it thinks they may soon be in trouble??
Do they buy another company during this?? Well maybe that was a bad example..(sounds like yrc)
 
Take away the 64 million goodwill charge, and they still lost 24 million. The new equipment did not cost 24 million. A lost of 99.9 million for the year of 2009, did that come from the purchase of new equipment. Now put the 64 million with that and you get a lost of 164 million give or take. I know they are faking the lost to get concessions from the union. I guess the union would want to look at the books before giving anything, I hope.
 
Atta boy!!! one of us got it right! The company is just positioning themselves for a give back. Guess they think we're just dumb drivers and dock workers. No give backs. Our Brothers gave back more than enough by being on lay off. Not to remind everyone how ABF contniues to attempt to deny unemployment $$$ at every chance....which They always lose/lost. Guess they aint' as smart as they think they are at 'The Fort' Listen to the qtr report and you'll hear of ALL the creative accounting charges they took this quarter, it doesn't stop at $64 mil.
 
schuyler said:
Atta boy!!! one of us got it right! The company is just positioning themselves for a give back. Guess they think we're just dumb drivers and dock workers. No give backs. Our Brothers gave back more than enough by being on lay off. Not to remind everyone how ABF contniues to attempt to deny unemployment $$$ at every chance....which They always lose/lost. Guess they aint' as smart as they think they are at 'The Fort' Listen to the qtr report and you'll hear of ALL the creative accounting charges they took this quarter, it doesn't stop at $64 mil.
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Thank-you (they just won't get it)

They (drivers on this board) can't wait to give away your money.

Foolish
 
schuyler said:
Atta boy!!! one of us got it right! The company is just positioning themselves for a give back. Guess they think we're just dumb drivers and dock workers. No give backs. Our Brothers gave back more than enough by being on lay off. Not to remind everyone how ABF contniues to attempt to deny unemployment $$$ at every chance....which They always lose/lost. Guess they aint' as smart as they think they are at 'The Fort' Listen to the qtr report and you'll hear of ALL the creative accounting charges they took this quarter, it doesn't stop at $64 mil.
Click to expand...
What you have said is so true. If the company is doing so bad why hasn't our TM tried to get off his ***** and get more business. He still has time for his 2+ hour lunches with his wife calling all day long. There is so much fat that can be cut before they get to us who they just lay off to make their numbers look better.
 
Checkout what a 'GOODWILL CHARGE" is.......It's an acounting practice to lower profits. They could've been holding this charge since the Carolina purchase. You take the price that you PAID for a purchase & SUBTRACT the ACTUAL WORTH of that purchase & The DIFFERENCE IS A GOODWILL CHARGE EX: You buy a house for 200,000 & it's only truly valued at 125,000 you over payed 75,000 & that's your one time Goodwill charge which under law can be held & applied at ANY TIME OR HELD FOREVER!!!!
 
A seven race package in the Nationwide series doesn't cost as much as you must think. Besides..... you do realize that marketing is what freight companies use to try to put freight on the trailers that you are pulling. That race car could be putting several of you to work, IMO.
 
joshracing11 said:
A seven race package in the Nationwide series doesn't cost as much as you must think. Besides..... you do realize that marketing is what freight companies use to try to put freight on the trailers that you are pulling. That race car could be putting several of you to work, IMO.
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I allready work full time,so i don't give a rats *** about that race car,i think it's a waist of money , when you don,t have none or when your loosing money,
 
joshracing11 said:
A seven race package in the Nationwide series doesn't cost as much as you must think. Besides..... you do realize that marketing is what freight companies use to try to put freight on the trailers that you are pulling. That race car could be putting several of you to work, IMO.
Click to expand...

Usually, in most companies, its to provide internal suckups w/a reward and to bribe large customers to do business with you.
 
Unions are supposed to be a democracy where I can express my thoughts and ideas, good or bad, weather you agree or not, not to be suppressed.
Other wise you have a dictatorship.
 
What we need to do to make the company happy is simple,

1:desolve the union
2:lower wages to $17:00 an hour tops for all dock , city drivers,Mechanics,etc
3:Road drivers get 0.35 a mile, and do all their own hooking,fueling,etc. and work the dock anytime they are needed
4: employees pay around 200.00 per month for health insurance
5:no retirement benefits

After we agree to this they will claim they can now compete with the other LTL'S
 
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