ABF | Should ABF get out now?

Last night I received a call from my business agent and he told me that he had just talked to Tyson J.. Tyson told him that ABF had just signed off on the Master Freight Agreement and all of it's supplements and that ABF would continue to pay into the MEPF as they have done in the past. So, according to Tyson, ABF will not get a seperate contract and they will not get the pension fund like they wanted. So please contact your local to verify this and spread the word. Also, if you have not turned in your ballot yet please do so so that your voice will be heard.
 
issue is moot guys
abf signed onto the yrc deal today
in the press release they feel with the pension contributions contained in the agreement the mepfs they are paticipants in will be strengthened

i guess they thought twice about getting a 1 billion dollar loan to get out
like i said
what would you prefer, money in your pocket or an IOU?
i guess the ibt spoke for me
 
I am a union employee just as you are. I guess I just have a different opinion on retirement plans than you. First off I would prefer not to take a cut in my pension benefits just so there is something left for my wife when I'm gone. Second if both of us pass at the same time I would hope that the money that was stuck into the fund would be able to go to my children. Another thing is if YRC goes belly up that fund is gone. I might not feel this way if the union would have held UPS freight to the same standards as us. By them organizing UPSF it did nothing to help our pension funds. All it did was help them collect more dues. I probably wouldn't want to get out of the MEPF's if I had 20 or more years in but I don't. Just as you are wanting to look out for what is best for you, I am wanting to look out for me and my family, and I think for a person in my position a single employer fund would be best. The company would have to set up an individual plan completely funded by them with an opportunity for me to ad to it if I were to choose. Do not take the way I feel personally I am not a "company man" I just not completely confident in the Central States fund.
 
yrc

if yrc goes bellie up,wouldnt someone come in and buy them cheep?and keep money going into the fund, thats too much freight for everyone else to move isnt it? i know there isnt an answer ,it just got me thinking
 
if yrc goes bellie up,wouldnt someone come in and buy them cheep?and keep money going into the fund, thats too much freight for everyone else to move isnt it? i know there isnt an answer ,it just got me thinking

I have a real problem believing that the people that financed the YRC acquisitions would allow that kind of investment go belly u. It's my opinion that the bank would send in their people immediately and take control. Will they allow the company to bankrupt? I think a reorganization would be allowed by the courts. Worst case, fire sale to an investment group, similar to the group that wanted CF.
 
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