Yellow | Summary of the Agreement for the Restructuring of the YRCWorldwide

[huntingfool]

Vote NO! This is a piece of crap proposal!!! If this thing goes thru, it means more lost wages for another 5 years, our pensions won't be worth a sh!!t, part time employees cutting into our hours, and more concessions to come. What next? Overtime will be a thing of the past, as we will (willingly) vote to abolish. Paid holidays will be cut out, which we will again (willingly) vote to get rid of. YRC has found out that it's employees are weak and scared, and will pass ANYTHING to keep their jobs! I for one voted no on the last concession package, and will vote no on this as well. Let's stand as a union (for once), and say no to this company's strong arming!!! Let's show them that we can't be bullied anymore! I said it before, and I'll say it again.. grow some gonads!!! Remember, ABF was given a threat of closing down, voted no, and is busier than ever!

 

[billyzollars]

Even I'm going to vote no on this piece of crap.

 

[SC Bear]

Vote NO! This is a piece of crap proposal!!! If this thing goes thru, it means more lost wages for another 5 years, our pensions won't be worth a sh!!t, part time employees cutting into our hours, and more concessions to come. What next? Overtime will be a thing of the past, as we will (willingly) vote to abolish. Paid holidays will be cut out, which we will again (willingly) vote to get rid of. YRC has found out that it's employees are weak and scared, and will pass ANYTHING to keep their jobs! I for one voted no on the last concession package, and will vote no on this as well. Let's stand as a union (for once), and say no to this company's strong arming!!! Let's show them that we can't be bullied anymore! I said it before, and I'll say it again.. grow some gonads!!! Remember, ABF was given a threat of closing down, voted no, and is busier than ever!

EXACTLY!!!! what is it going to take for everyone to wake up!!!!!taking vacations, 4 hr.work, etc. etc. how far is everyone willing to give back these things we fought for in the past??? Vote NO, let YRC come back with another proposal!!!!!

 

[stoker]

I agree with SC Bear.........Pension should be the most important issue for all of us..........If you dont have a pension then you have nothing when you are old........There are lots of workers with 20 years plus that are so close to retirement and if Yrc is allowed to not pay in then they will lose their dreams..........nuff said

I have to wonder how Central States will react to the 25% payed in,will they use it for calculations as the 25% payed over a year will give you a quarter years credit in our present class or will they drop us down to a lower classification of pension,instead of 30 years at 3000.00 will it push folks into a class of where 30 years will give them,an I just guessing here at this number,a benifit of 750.00 ?? Used to be if you dropped down in classes it took 5 years at a higher rate to move you back up,this is something I did not see spelled out anywhere.

 

[Vwaggs]

I have to wonder how any of the funds will react. Ultimately they will be paying out and taking the heat long term on whatever happens with the pension portion of the funding.

 

[Baldy17]

that kind of gung ho rhetoric ain't gonna work this time bro. You got nobody covering your back. They are broke! believe it! You can't retire with a weeks pay till your 64-65 anyways. This time they are required to pay into the pension. I don't think it's all that bad and I don't think it gets any better for awhile. Where did the saying "A bird in the hand is worth two in the bush" come from? Take the money..money buys happiness

you work for YRC right?​

Jay C , your actually talking sense, hope some of the people listen to you. For all the guys that want to vote no, go look for a job, find one and quit. I understand there position and resrect the decision to vote no. But don't bring everyone else down because you want to close the company, there's a lot of guys out there with family's who need the insurance and the income. I retired in January of this year and some of the quotes I read here some of these guys think its 1968 again. Good posts Jay C.

 

[Driver71]

I am a retired driver. All you have to do is look at yellow's seniority list. How many have more than 15 years. They are the ones who will more than likely vote yes in their defense. It is very hard for a 50 something to go out and look for a job. Good luck to you all and I hope you all do the right thing for yourselves and your families

 

[Baldy17]

I have to wonder how any of the funds will react. Ultimately they will be paying out and taking the heat long term on whatever happens with the pension portion of the funding.

If YRC closes Central States will probably go bankrupt and look at all the guys who will get a huge reduction in there pension and all the insurance coverage could drop. And in response to strokers comment, yes it will bring down your total average, but that will take a while, and you wont loose the contributions that have been paid in at the high rate.

 

[Baldy17]

i am voying no! i can't wait for the company to fold! i am so anxious to go find another job, i don't care if it takes a year. To start out at $11 an hour, and wait for a year to get my 1st weeks vacation and medical. I will love being the new guy at the bottom of the board and work midnights. I will feel so lucky to have my CCx, Fedex, or other boss :: down my throat and like it! i can't wait!

Y wait hurry up and go now.

 

[andy107]

This kind of thinking is our problem. Listen to this guy talk, I, I, I, Me, Me, and ME! Does he understand what union means? It probably don't concern you now fr8holler, but down the line it will. It doesn’t affect you, but it affects most Teamsters. The south are used to companies ting on yall. I'm making 50 dollars more than a man who is on unemployment. I made this much money 20 years ago. Lets not forget what the health and welfare is doing for us, we have to pay the first 700 dollars a year and 10% of the bill after that. They snuck that in sometime ago and you don't find out until you go to the hospital. So they have never give, they always take. The golden rule my Brothers, "when you give back, the company is going under" The only thing holding this company up, is the teamsters. We gave them 18 months, I thought they would ask for a year more at the most, but to give them 5 more years and a drop in the pension bucket is a disgrace! Lets keep the little dignity we have left my Brothers and vote NO !

 

[Muler]

I can live with this. Very little here would hurt me and the pension resumption is the key. Anybody who has a defined pension plan in this day and age should protect it with his life ! Not to mention free health care and a lazymans job !

Read the proposal. It tells you they are not going to get back in. Read it good if you were getting back in they would have already had the FUNDS APPROVAL. here's the proposal as printed.

Summary of Terms

•The agreement with YRCW companies would be extended two years, to March 31, 2015.
•The present pension withdrawal would continue until June 1, 2011. Then YRCW would make a contribution of 25% of the contract rate in effect on July 1, 2009, which is far below the present rate. (The rate was about $7 at that time, so 25% would be a rate of about $1.75 per hour). It is not clear if all the pension trusts will allow this, and what it would mean for members’ pension credits. That information should be forthcoming soon. By 2015 the contract pension contribution rate will be approximately $12 per hour.
So, Teamster members would get a $1.75 pension contribution. The new concessions would include

 

[Muler]

re-entry into the pension funds 06/01/2011 states it will be at a rate of 25%, but for how long? seems like they are leaving an opening for this to go on continuosly. Also looks like long time employees are taking the biggest hit. How come since an employee with over 4 weeks vacation will lose a week but junior employees with less than 4 weeks lose nothing for now?

You have to read it again it does not promise reentry. But if it did reenter it would not be at 25% of the 2011 rate it would be at 25% of the 2009 rate.

Summary of Terms

•The agreement with YRCW companies would be extended two years, to March 31, 2015.
•The present pension withdrawal would continue until June 1, 2011. Then YRCW would make a contribution of 25% of the contract rate in effect on July 1, 2009, which is far below the present rate. (The rate was about $7 at that time, so 25% would be a rate of about $1.75 per hour). It is not clear if all the pension trusts will allow this, and what it would mean for members’ pension credits. That information should be forthcoming soon. By 2015 the contract pension contribution rate will be approximately $12 per hour.
So, Teamster members would get a $1.75 pension contribution. The new concessions would include

 

[Vwaggs]

I just find it interesting that many of the old timers are screaming vote Yes and get something into our pension. The contribution rate is so low, the pension funds will probably re-rate your pension to a lower payout tier, if they would even consider accepting this.

 

[Muler]

It was very somber....when the finacial guy went over the findings of going through YRCW's books (This is why you met in person, as the figures cannot be diclosed in the open)....you could have heard a pin drop in the whole building.

I know you guys will have plenty to say...BUT....if they don't get this passed....the lenders will most likely pull out.

I am not, nor are any of the other Locals, trying to sell you a bill of goods.....we voted to take the information back to our members without a recomendation, present the information and the members will get ballots after 10/7 and it will be in their power to vote yes...or vote no.

Anyone on here that was present knows I went to the microphone and spoke my mind.

I did say ...."I want to thank the Committee for all the hard work they have gone through to help try and save jobs...we are still dealing with a company that has become anti-employee since the last bailout.....management is showing no respect to our members and to this day purposely violates our NMFA....Now that they want another handout to save their sorry asses, they are wanting these same employees to forget and forgive and vote yes to save the company?....Many of our members have had enough of their crap and say let them reap what they have sown!...."
that is what I said at the microphone, as hard as it was, knowing that over 25,000 jobs are at risk....but that is what our members are telling us, and that is what I said at the micorphone.

While there will NOT be anymore wage reductions until 2015...is losing 1 week of vacation, 10 minutes of breaks daily, drop and hook your own sets....etc...etc worth the risks?

That is why the constitution must be adhered to, and you and anyone who still has recall rights will be voting....I do not vote for you....that is your priveledge and duty as a union member to do so.....KK

I can not believe that is all you think there is to be lost in this proposal. For one it wipes out EVERY WORK RULE ACROSS THE COUNTRY. Then it DOES NOT PROMISE that YRC will get back into the pension funds. READ THE AGREEMENT! If they were going to get back into the funds would they not have already had the FUNDS APPROVALS? I think so.
Make no mistake about it this agreement is the end all of the YRC Teamsters. With no work rules it will come on the the Local that gives the most will get the most. YOU CAN"T SEE THAT? Read the agreement. 99% of it is just a smoke screen.A weeks vacation BS. You are a union official and it doesn't even bother you that they the company and YRC SINGLED OUT THE OLDER TEAMSTERS? What if they had said they were going to take a week from just the Black or the White employees would that have gotten you upset? I am shocked that you would feel that way. I can't believe you would suggest that was all that was at stake here. ONE WEEKS VACATION. And just what were you THANKING the committee for doing? Was it for ONLY TAKING 15% of the YRC Teamsters wages. Was it for JUST TAKING THEIR PENSION AWAY AND NOT THEIR H&W? Was it for some of their REALLY REALLY GOOD proposals in this mess. No work rules, No GUARATEES to get back into the pension funds.I know I missed it they are going to make a Teamster take a hour lunch so he will have to work a half hour longer than before. No my Brother there is nothing to thank them for. They should have been hanging their heads in SHAME. Part Time Teamsters THANKS! You talked to the people who went over the books and they answered the important questions did they? Here's a question that they should have been asked. WHO OWNS YRC? I will tell you how to find out. Go back through the SEC filings and you will see. Names like Goldman Sachs, JP Morgan Chase and Deutsche Bank. And in case that smart union CPA failed to tell the Brothers in the room these are some of the RICHIEST INSTUTITIONS IN THE WORLD! They control much of the money in the WORLD and you say they are BROKE. PLEASE. Give the facts not what someone tells you. READ the SEC filings and anybody can see the owners of YRC are the movers and shakers of the WORLD. The only thing that this proposal GUARANTEE'S is nothing but misery for the Brother's and Sisters of YRC. Here is a question that I will ask you to answer. You make a call too your Boss Jimmy for the answer or better yet call that smart money man that explained everything to you all and ask him for the names of the owners of YRC and you post them. Is that asking too much? All the union officials say they are broke. Name these BROKE OWNERS.

 

[newpenn107]

Amen to that Muler!!! And it looks like to me that they are in fact taking money away from the health and welfare. The dollar amounts ( actually it's just change not dollars) that they will increase to H&W are not the amounts per the contract.. It's atleast .15 cents less per hour than what it was suppose to be.
So down the road H&W will be affected like it was for some members after the last give back.

 

[Muler]

Good catch Waggs. See what I meant SMOKE SCREEN. They are even putting less in the H&W funds than agreed to. And their asking Teamsters to vote to kill themselves. The only good thing is that it shows you they can't do it to us. WE HAVE TO DO IT TO OURSELVES! PS You too 107

 

[Muler]

Since they even go so far as to mention that there is no agreement between the Pension Funds and the IBT or YRC if I were a betting man I would not hold my breath about getting back in. Why was it not made a snap back clause that if YRC did not get back into the funds then everything would SNAP BACK?

 

[shakespoet]

Thank you Muler. How can the IBT propose this to us without prior approval from the Pension trusts? How come the 25% pension contribution doesn't start until 6 months after the concessions? YRCW stopped paying into the pension without letting the teamsters know in the past. You guys really think YRCW will pay into the pension in June 2011? If so, I have ice to sell you in Alaska.

 

[NO WAY NO HOW]

Jay C , your actually talking sense, hope some of the people listen to you. For all the guys that want to vote no, go look for a job, find one and quit. I understand there position and resrect the decision to vote no. But don't bring everyone else down because you want to close the company, there's a lot of guys out there with family's who need the insurance and the income. I retired in January of this year and some of the quotes I read here some of these guys think its 1968 again. Good posts Jay C.

sounds like this guy is just worried about his pension and wants us to work for free as long as his pension still comes in no matter if there wont be any left for us or not!
Any retiree that tells you to vote yes to this piece of crap is looking out for himself, not us!

 

[Northern Flash]

sounds like this guy is just worried about his pension and wants us to work for free as long as his pension still comes in no matter if there wont be any left for us or not!
Any retiree that tells you to vote yes to this piece of crap is looking out for himself, not us!

BINGO!!!!! We've got us a winner!