That snap back clause is just smoke and mirrors mudpuppy. When they go broke, you're not getting returned to full rate. And also when a company is making a purchase.....they will decide the wages, NOT the Union. I don't care what the Union (B.S.) language says, the purchasing company will make that decision on pay and pension, or they won't make the purchase. The Union wouldn't have any choice but to accept what the company offered......or the Union gets the boot. That whole section of the "so called" agreement is just an attempt to show the members something positive, but there will never be any "snap back" provisions applied. Just smoke and mirrors.New owner or bankruptcy filing automaticly returns our wages to full rate. I never understood that, if they file bankruptcy how do they pay us full rate? Guess thats why I drive a truck and don't negotiate contracts
If a buyer said they would buy Holland if the concessions passed I would vote yes in a heartbeat. Until then it will still be a NO! I just want out from YRC's thumb and get back to doin what Holland does best!That snap back clause is just smoke and mirrors mudpuppy. When they go broke, you're not getting returned to full rate. And also when a company is making a purchase.....they will decide the wages, NOT the Union. I don't care what the Union (B.S.) language says, the purchasing company will make that decision on pay and pension, or they won't make the purchase. The Union wouldn't have any choice but to accept what the company offered......or the Union gets the boot. That whole section of the "so called" agreement is just an attempt to show the members something positive, but there will never be any "snap back" provisions applied. Just smoke and mirrors.
is there a better chance of us being sold if this vote goes through or if it dont?
Same here shoeman. But nightowl saying that he was told that "invsters were looking to buy us" don't cut it. NO it is.If a buyer said they would buy Holland if the concessions passed I would vote yes in a heartbeat. Until then it will still be a NO! I just want out from YRC's thumb and get back to doin what Holland does best!
just telling ya what came out of the horses mouth. don't care if ya believe it or not..Same here shoeman. But nightowl saying that he was told that "invsters were looking to buy us" don't cut it. NO it is.
Nobody said they dont believe you. We just want someone to buy Holland, not YRC with Holland a part of that clusterfrick! Get it?just telling ya what came out of the horses mouth. don't care if ya believe it or not..
Who is the investor? There is none, I already know, dont make a fool of yourself trying to explain that. I'll still vote NO! Liquidate Baby! Hell'Obama free ride for a 2 yr. break!I work for YRC & just wanted to comment on someone buying Holland. This question was asked @ the conference call last night, the response was, The entire company "all divisions,(YRC National, Holland, YRC Glen Moore, New Penn, Reddaway, Reimer, etc...) real estate, & equipment" were put up for collateral to the banks. If YRCW goes bankrupt, we all fall, there will be no selling of divisions, was stated. The banks will call in their $100 million loan, YRCW had $147 million in operating costs Sunday. The pensions will then call in their payments on Jan. 1, 2011, $300 million. Once YRCW is under $30 million, they won't be able to make payroll & will be forced to liquidate.
"IF" Holland were to be sold now, the purchasing company would be liable for "all the unfunded liability" to the pensions. Thats why nobody wants to purchase "any" part of this unionized company. It was stated that there is a reliable investor willing to put up $300 - $500 million & would be in place by the end of the year. The investors wanted a 5 year labor agreement & monies removed from the contract to show the seriousness of becoming profitable again. Thats it in a nutshell. If this does not go through, YRCW will liquidate all entities.
If you vote yes, you can take a leave of absence & find another job, you will have till June 1st to return. Vote no & there will be nothing to return to.
Who is the investor? There is none, I already know, dont make a fool of yourself trying to explain that. I'll still vote NO! Liquidate Baby! Hell'Obama free ride for a 2 yr. break!
From what the proposal clearly states, it looks like our contract has already been voided if we vote yes on this POS.The bad news, the contract would be void, the judge can't amend the contract it would be voided altogether. Now its a non-union company for sale.
We just recently got a "new" YRC single axle tractor up here. It's a dandy. 900,000+ miles on it, and it looks like someone took an axe to the dash.aging equiptment? thats a understatment.