for all the locals across this country that voted this down, as long as they were covered under the NMFA, they don't have a choice, as it was TOTAL votes counted, the only issue is, with the White Papers, and New Penn, and at the end of the day on Friday, it was unsure at that point what the IBT was going to do with them. If you read the press release from the IBT web sight, it states that they will be handled on a local to local basis.....ie: revote?, persuasion? who knows...right now, your guess is as good as mine...g
Yellow | This is the official post from washington,dc
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for all the locals across this country that voted this down, as long as they were covered under the NMFA, they don't have a choice, as it was TOTAL votes counted, the only issue is, with the White Papers, and New Penn, and at the end of the day on Friday, it was unsure at that point what the IBT was going to do with them. If you read the press release from the IBT web sight, it states that they will be handled on a local to local basis.....ie: revote?, persuasion? who knows...right now, your guess is as good as mine...g
J
JV4344
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Its time to remember that your a teamster and respect the majority. That is a big part of being a teamster, respect the majority. If you can't live with a simple unity rule like the majority wins then you were never a teamster to start with
Northern Flash
Today's Democrats are similar to Commies.
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If he would have been telling you that there was no plan "B" a week or two BEFORE the votes were sent in, I would have said that he was just trying to influence you votes. But, since it would have been too late for him to be trying to B.S. you, in Washington, his "no plan B" comment sounds more legit to me.:shades:
Non_Pecuniary
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I'm a non-union, salaried guy at the KGO (NOT MANAGEMENT!) I can confirm that contingency plans were being made for filing bankruptcy - they brought in a legal consultant who used to be VP for YRC Logistics to amass all of the company assets and liabilities. They were counting equipment, claims, property and collecting info on everything through June and July in preparation for filing. I don't know if as G-Man states that the papers were actually filed with the court - but I can guarantee that preparations were being made. As far as the vote goes - I sympathize with you guys on both sides of the issue. Awfully tough decision to make. Sometimes I think I'm probably better off not having to make that call myself! Good luck to all and most of us here at the GO know that it's you guys and gals on the dock and in the trucks that make this company run - not the dumba**es up on the 10th floor.
non, thank you for your post, and acknowledging the tough decision we had to make. I'm sure that everything you and G have posted is true, I'm not questioning that, at all. what i am questioning is, were they going to file for liquidation, or reorganization. HUGE difference there! for the life of me, i cant see how the banks would go for liquidation, and here is why.
#1, yrc owes the CSPF 4 billion, its my understanding that this gets payed first, before anything else. if this is not correct, please someone set me straight on this.
#2, the banks are already letting yrc sell off assets. if they wanted liquidation, why would they do that?
#3, if it did come to liquidation, say we have 20% of the ltl industry, split that between all of the other carriers and they MIGHT be back to where they were, i doughty it but just for arguments sake lets say so. OK now the banks own all of the yrc terminals, who's going to buy them? let alone all of the equipment. some say that when the economy comes back then all will grow, OK but when is this going to happen?
#4, and this is coming from my bankers mouth, "pay me something, i don't care what it is, pay me something. thats better then me having to set on that thing." my wife and i own a bar, we were going to turn it back in, foreclosure, he wouldn't let me.
#1, yrc owes the CSPF 4 billion, its my understanding that this gets payed first, before anything else. if this is not correct, please someone set me straight on this.
#2, the banks are already letting yrc sell off assets. if they wanted liquidation, why would they do that?
#3, if it did come to liquidation, say we have 20% of the ltl industry, split that between all of the other carriers and they MIGHT be back to where they were, i doughty it but just for arguments sake lets say so. OK now the banks own all of the yrc terminals, who's going to buy them? let alone all of the equipment. some say that when the economy comes back then all will grow, OK but when is this going to happen?
#4, and this is coming from my bankers mouth, "pay me something, i don't care what it is, pay me something. thats better then me having to set on that thing." my wife and i own a bar, we were going to turn it back in, foreclosure, he wouldn't let me.
He already said it was Chapter 7 bankruptcy, ready to be filed on Friday if the vote was no.
Northern Flash
Today's Democrats are similar to Commies.
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So how many million dollars did they **** away to this consultant? Why not wait until the votes were counted? Most everyone knew that the vote would pass. Damn they're stupid.
imported_OKLAHOMAMOSES
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Not even close! the winner would be 823 Joplin Mo.
imported_wiseup
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So I would have to say with what you said, that bankruptcy is going to take place wether it was voted in or not. If things are this bad, the 5% is not going to keep this company floating, the union terminated them from the pension plan, before the vote was ever counted, so that cost was not a factor in this vote, just the 5%, so if they where so willing to file bankruptcy for that, then it will happen anyway.
Still waiting for a answer to my questions?
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:USA:Way to go Southern Region.
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