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Yellow | Teamsters dismissed.

Rodeo said:
Speculation with out fact. Am sure if or company wasn't in so much debt we would have not had to take such a big cut
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Just remember any GOOD ACCOUNTANT ,like Jamie can make the number's look how ever they want too , and they have them Cayman Island accounts to float money into also !! It was all a big ponzi scheme to control the union & cut wages period !!
 
wongway said:
Just remember any GOOD ACCOUNTANT ,like Jamie can make the number's look how ever they want too , and they have them Cayman Island accounts to float money into also !! It was all a big ponzi scheme to control the union & cut wages period !!
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Can you post some links ? Especially about the Cayman Island accounts. My lawyer Saul, finds your post interesting, and would like to hear more.
 
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wongway said:
Really what does the union have to offer anymore ? yes we got insurance ,but pay for it indirectly with -15% , and our wages are lower then non-union trucking companies , Hoffa & union upper management let the pension fund go broke and let UPS out of the fund and union has NO power with YRCW any more and hell union won't even give us a free teamster cap or t-shirt or xmas ham !! So if you are looking to sign up XPO what can you offer them ??
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I don't want a free hat or teamster shirt and a gd ham doesn't pay the bills. I want Jr. and his little but buddy Hall OUT! I want a strong contract a livable wage and our master freight agreement back. I want Fred Zuckerman and the Teamsters United Slate looking out for us and standing up to these lying tyrants like Welch at Yrc and his little bitch Jamie Pierson. Let them see what it's like having to deal with real Teamster leadership that won't put up with their bull $h!t !
 
Rodeo said:
They are. And in there last contract there pension was not touched. There still paying in at a100% with no penalties
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So if the fund is due to go belly up in ten or twelve years doesn't than mean that ABF is just throwing away more money than YRC? I guess throwing away is the wrong word....let's say isn't ABF just making a poorer investment with larger amounts of the employees retirement money? With the large numbers of drivers retired even at one hundred percent I don't think that ABF could make even a small dent in the problem. I am guessing that unless a large company such as XPO or FedEx were to start paying into the fund soon it is doomed to failure and the ABF guys and the YRC guys will get the exact same amount that is guaranteed by the government which is around 1150 dollars a month. So to me it would seem that ABF drivers are no farther ahead unless they are going to retire very soon in which case they could collect a larger amount for a few years. Does this logic make sense? Unless somehow Central States pulls through and gets the pension solvent for the long term which I believe will happen the same day we get our fifteen percent back......hint: " the devil will be wearing a winter coat that day".
 
the5tolls said:
So if the fund is due to go belly up in ten or twelve years doesn't than mean that ABF is just throwing away more money than YRC? I guess throwing away is the wrong word....let's say isn't ABF just making a poorer investment with larger amounts of the employees retirement money? With the large numbers of drivers retired even at one hundred percent I don't think that ABF could make even a small dent in the problem. I am guessing that unless a large company such as XPO or FedEx were to start paying into the fund soon it is doomed to failure and the ABF guys and the YRC guys will get the exact same amount that is guaranteed by the government which is around 1150 dollars a month. So to me it would seem that ABF drivers are no farther ahead unless they are going to retire very soon in which case they could collect a larger amount for a few years. Does this logic make sense? Unless somehow Central States pulls through and gets the pension solvent for the long term which I believe will happen the same day we get our fifteen percent back......hint: " the devil will be wearing a winter coat that day".
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I'd say that you are pretty accurate with all of this. While the IBT let UPS out of CSPF they refused to let ABF out when they asked for it a couple of contracts back. ABF has no choice but to pay that money but it is going into the drain and unfortunately none of the beneficiaries of that fund are going to fare well when the fat lady sings her swan song.
 
the5tolls said:
So if the fund is due to go belly up in ten or twelve years doesn't than mean that ABF is just throwing away more money than YRC? I guess throwing away is the wrong word....let's say isn't ABF just making a poorer investment with larger amounts of the employees retirement money? With the large numbers of drivers retired even at one hundred percent I don't think that ABF could make even a small dent in the problem. I am guessing that unless a large company such as XPO or FedEx were to start paying into the fund soon it is doomed to failure and the ABF guys and the YRC guys will get the exact same amount that is guaranteed by the government which is around 1150 dollars a month. So to me it would seem that ABF drivers are no farther ahead unless they are going to retire very soon in which case they could collect a larger amount for a few years. Does this logic make sense? Unless somehow Central States pulls through and gets the pension solvent for the long term which I believe will happen the same day we get our fifteen percent back......hint: " the devil will be wearing a winter coat that day".
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Abf drivers get full year payments so even if the pension guarantee corp does take effect its based off of our full years payment where YRC is based off of the quarter payments. 110% guarantee remember.
 
SAC75 said:
Abf drivers get full year payments so even if the pension guarantee corp does take effect its based off of our full years payment where YRC is based off of the quarter payments. 110% guarantee remember.
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I'm not sure what your saying or where you got your information but under the pension guarantee program the most one can collect is something around $1100/month and that's if they have 30 years in, it goes down from there.
 
SAC75 said:
Abf drivers get full year payments so even if the pension guarantee corp does take effect its based off of our full years payment where YRC is based off of the quarter payments. 110% guarantee remember.
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Maybe I didn't make my point correctly.....the fund is going to run out of money sometime, we will say 2027, unless changes are mad which do not look likely, which from what I have read is realistic. My understanding is at that point all the ABF guys will get is the same as the YRC guys will get.....whatever the government insurance or guarantee would pay. Yes I do understand that ABF would be paid out at a higher rate per year before that, so if you retire in 2022 you could get a higher monthly payment for approximately five years and then it would be the same amount. I guess my point is that unless you are retiring very soon, within the next ten years, there is a very good chance that ABF paying in one hundred percent is of little to no advantage. You mention 110 percent guarantee, am I correct that has a maximum monthly payment is somewhere around 1150 dollars? If so it really isn't going to matter if your teamster pension would have been two thousand or four thousand, you are both going to get 1150 if that government is still solvent, if not you will both end up with zero.
 
ABFer said:
I'm not sure what your saying or where you got your information but under the pension guarantee program the most one can collect is something around $1100/month and that's if they have 30 years in, it goes down from there.
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Ya so if your making 25% payments it would take 120 years to get what an ABF driver gets on 30 correct? Pension guarantee fund is basicly paying 33.3% so yrc guys will get less per year rite? And thats assuming The pension guarantee fund doesn't go insolvent.
I also know that you guys haven't been paying 25% for the last 30 years. I'm just using it as an example.
the5tolls said:
Maybe I didn't make my point correctly.....the fund is going to run out of money sometime, we will say 2027, unless changes are mad which do not look likely, which from what I have read is realistic. My understanding is at that point all the ABF guys will get is the same as the YRC guys will get.....whatever the government insurance or guarantee would pay. Yes I do understand that ABF would be paid out at a higher rate per year before that, so if you retire in 2022 you could get a higher monthly payment for approximately five years and then it would be the same amount. I guess my point is that unless you are retiring very soon, within the next ten years, there is a very good chance that ABF paying in one hundred percent is of little to no advantage. You mention 110 percent guarantee, am I correct that has a maximum monthly payment is somewhere around 1150 dollars? If so it really isn't going to matter if your teamster pension would have been two thousand or four thousand, you are both going to get 1150 if that government is still solvent, if not you will both end up with zero.
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wongway said:
Thanks , and kinda thinking of retiring in the Cayman Islands now , as I would get a free Banking as a retired YRCW employee !!
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Retire in the Caymans on a partial Teamster pension? Ya, right! You're gonna need a lot more than free banking with that cost of living.
 
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