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What are you guys at YRC hearing about the company being in arrears on pension payments and asking for relief ? Was told this from my local and also was told the IBT told the locals today that they were to sign no sweetheart deals.
 
Pension Arrears

usf-indy said:
What are you guys at YRC hearing about the company being in arrears on pension payments and asking for relief ? Was told this from my local and also was told the IBT told the locals today that they were to sign no sweetheart deals.
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Rumor has it that YRC is meeting with or has met with the funds to tell them they are not making pension payments for a few months... Any facts on this?
 
I've been out of thee loop for a while since I got laid off back in October of 08 but it wouldn't surprise me at all that they aren't making any pension contributions. I mean really how else will they be able to cover those high dollar golden parachute contracts in the board room if they have to cover all the pension contributions that are owed?
 
usf-indy said:
What are you guys at YRC hearing about the company being in arrears on pension payments and asking for relief ? Was told this from my local and also was told the IBT told the locals today that they were to sign no sweetheart deals.
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Just heard this also.
YRC will default on H+W and Pension payments ( no money to pay it with)

Also Scranton PA (178) has listed its NEW address on the YRC web site.
They are moving to the USF Terminal in Dorance PA.
 
F1Flagger said:
Just heard this also.
YRC will default on H+W and Pension payments ( no money to pay it with)

Also Scranton PA (178) has listed its NEW address on the YRC web site.
They are moving to the USF Terminal in Dorance PA.
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Why do people like you think that you can come on here and post things like this, as though they are indisputable fact, when they aren't? The company approached one local about the pension contributions. The IBT was notified and sent communications to all NMFA locals and told them that this issue is to be discussed with the IBT and not on the local level. So far the company has said nothing to the IBT. There is a memorandum that has been sent to every local to be posted at your workplaces. Read it. It doesn't say what you just said. This is a serious matter. You should apologize to everyone here for spreading misinformation. If you like being a gossip, fine, but this isn't the kind of stuff you should be spreading.
 
larry retired said:
Why do people like you think that you can come on here and post things like this, as though they are indisputable fact, when they aren't? The company approached one local about the pension contributions. The IBT was notified and sent communications to all NMFA locals and told them that this issue is to be discussed with the IBT and not on the local level. So far the company has said nothing to the IBT. There is a memorandum that has been sent to every local to be posted at your workplaces. Read it. It doesn't say what you just said. This is a serious matter. You should apologize to everyone here for spreading misinformation. If you like being a gossip, fine, but this isn't the kind of stuff you should be spreading.
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The info I posted, while un-confirmed came from the Local.
so I wouldassume it came from the IBT.
The FACT about the Scranton Terminal is on the YRC web site.
I apologize for nothing. I am in this just like everyone else.
This string is about "RUMORS" I stated it as such.
If you have access to any printed info from the IBT, PLEASE POST IT, for everyone to read!!
 
F1Flagger said:
The info I posted, while un-confirmed came from the Local.
so I wouldassume it came from the IBT.
The FACT about the Scranton Terminal is on the YRC web site.
I apologize for nothing. I am in this just like everyone else.
This string is about "RUMORS" I stated it as such.
If you have access to any printed info from the IBT, PLEASE POST IT, for everyone to read!!
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You're right, it is the rumor thread, so come one, come all, get on here and lie yer asses off, have a picnic.

Here is the memorandum.

To: All NMFA Local Unions

From: James P. Hoffa, Chairman, TNFINC

Tyson Johnson, Co-Chairman, TNFINC

Date: April 6, 2009

RE: YRC Contributions to Pension Funds

It has come to our attention that representatives of YRC might be contacting Teamster Pension Funds and requesting that they defer for several months the Company's obligation to make pension contributions when due under the NMFA.

The National Freight Negotiating Committee has informed YRC that any discussions regarding the deferral of contributions to the Pension Funds is a mandatory subject of bargaining and must first be negotiated with, and agreed upon by, TNFINC. Prior to having any discussions with YRC regarding its pension obligations, the Union will obtain sufficient information from the Company's financial books and records to ensure how to best protect the pension rights of all affected Teamster freight members.

All Local Union officers, whether or not they also serve as pension fund trustees, are instructed not to make any agreements on behalf of their Local Unions with YRC regarding its pension contribution obligations until TNFINC determines the appropriate response following a review of YRC's financial records. If contacted by YRC representatives regarding deferral of pension obligations, Local Union officers should contact the International Union Freight Division at (202) 624-8761 and report the specific request made by the Company and the name of the representative making the request.

We will keep you informed of all developments on this very important matter.


I had to type this from the posted memo. I hope I didn't make any mistakes. It should be on all your bulletin boards. I'm sorry, this isn't a rumor, so it probably shouldn't be posted in this forum.
 
larry retired said:
You're right, it is the rumor thread, so come one, come all, get on here and lie yer asses off, have a picnic.

Here is the memorandum.

To: All NMFA Local Unions

From: James P. Hoffa, Chairman, TNFINC

Tyson Johnson, Co-Chairman, TNFINC

Date: April 6, 2009

RE: YRC Contributions to Pension Funds

It has come to our attention that representatives of YRC might be contacting Teamster Pension Funds and requesting that they defer for several months the Company's obligation to make pension contributions when due under the NMFA.

The National Freight Negotiating Committee has informed YRC that any discussions regarding the deferral of contributions to the Pension Funds is a mandatory subject of bargaining and must first be negotiated with, and agreed upon by, TNFINC. Prior to having any discussions with YRC regarding its pension obligations, the Union will obtain sufficient information from the Company's financial books and records to ensure how to best protect the pension rights of all affected Teamster freight members.

All Local Union officers, whether or not they also serve as pension fund trustees, are instructed not to make any agreements on behalf of their Local Unions with YRC regarding its pension contribution obligations until TNFINC determines the appropriate response following a review of YRC's financial records. If contacted by YRC representatives regarding deferral of pension obligations, Local Union officers should contact the International Union Freight Division at (202) 624-8761 and report the specific request made by the Company and the name of the representative making the request.

We will keep you informed of all developments on this very important matter.


I had to type this from the posted memo. I hope I didn't make any mistakes. It should be on all your bulletin boards. I'm sorry, this isn't a rumor, so it probably shouldn't be posted in this forum.
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The writing on the wall is becoming easier to read.:ranting2:
 
Pension Arrears

larry retired said:
You're right, it is the rumor thread, so come one, come all, get on here and lie yer asses off, have a picnic.

Here is the memorandum.

To: All NMFA Local Unions

From: James P. Hoffa, Chairman, TNFINC

Tyson Johnson, Co-Chairman, TNFINC

Date: April 6, 2009

RE: YRC Contributions to Pension Funds

It has come to our attention that representatives of YRC might be contacting Teamster Pension Funds and requesting that they defer for several months the Company's obligation to make pension contributions when due under the NMFA.

The National Freight Negotiating Committee has informed YRC that any discussions regarding the deferral of contributions to the Pension Funds is a mandatory subject of bargaining and must first be negotiated with, and agreed upon by, TNFINC. Prior to having any discussions with YRC regarding its pension obligations, the Union will obtain sufficient information from the Company's financial books and records to ensure how to best protect the pension rights of all affected Teamster freight members.

All Local Union officers, whether or not they also serve as pension fund trustees, are instructed not to make any agreements on behalf of their Local Unions with YRC regarding its pension contribution obligations until TNFINC determines the appropriate response following a review of YRC's financial records. If contacted by YRC representatives regarding deferral of pension obligations, Local Union officers should contact the International Union Freight Division at (202) 624-8761 and report the specific request made by the Company and the name of the representative making the request.

We will keep you informed of all developments on this very important matter.


I had to type this from the posted memo. I hope I didn't make any mistakes. It should be on all your bulletin boards. I'm sorry, this isn't a rumor, so it probably shouldn't be posted in this forum.
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Remember that the company is not negotiating a decrease in pension contributions. They are solely giving the funds a warning that they will not be making contributions. At that time the fund has to determine what they are going to do. The language for Central States reads that "Action for delinquent conttributions may be instituted by either the Local Union, the Region or the Trustees. Employers who are delinquent must also pay all attorneys fees and costs of collection."

Article 8 Section 3(b) of the NMFA discusses the delinquency of pension payments. It says that the Local union shall have the right to take whatever action it deems necessary until delinquent payments are made. The Local Union must give the Employer a seventy two (72) hour notice of the Local Union's authorization to strike of failure to make pension contributions as noted under the supplemental agreement.

In most cases the Pension Fund can charge up to a 10% penalty on the delinquent payer. So whenever they elect to pay they must also come up with the penalty. If they can't make the payments what makes them think they can also pay the penalty?[/COLOR]

It's a scary situation and only time will tell. Good Luck to all.
 
larry retired said:
Why do people like you think that you can come on here and post things like this, as though they are indisputable fact, when they aren't? The company approached one local about the pension contributions. The IBT was notified and sent communications to all NMFA locals and told them that this issue is to be discussed with the IBT and not on the local level. So far the company has said nothing to the IBT. There is a memorandum that has been sent to every local to be posted at your workplaces. Read it. It doesn't say what you just said. This is a serious matter. You should apologize to everyone here for spreading misinformation. If you like being a gossip, fine, but this isn't the kind of stuff you should be spreading.
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Besides this notice that was sent out there was also a Titan message sent out with a little different spin on it.I think if you talk to your local then you will see the IBT HAS been contacted by the company. Didn't come over here to start ::shit::.Just asked what other men are hearing from their local.So if this is spreading mis-information then I'll give you the phone # of our local and you can call them a liar.Mod-If this is how a rumor board works then something needs adjustment.
 
Yes, this memo was sent to the freight Locals...I have a copy...it is word for word as stated above....KK
 
Memo

I have to admit since, this memo came out on the 6th, and, we are just now, discussing it here on the boards we must be slipping a bit.:shades:
 
bubbadog121 said:
I have to admit since, this memo came out on the 6th, and, we are just now, discussing it here on the boards we must be slipping a bit.:shades:
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Sometimes we get info early, but are sworn to secrecy or can't post it due to professional obligations. In order to maintain the contacts we have, we must be reliable in handling the info, in accordance with the wishes of those supplying it.

However, when a couple members start stirring the pot, we can sit back and let the facts fight their way out, none the less. That is usually effective also. There is always someone who cannot keep quiet about it. You just need to trigger their need to tell.
 
The memo came out late on the 6th....locals got it the next morning for the most part....they take their time to ask questions and get more facts before disclosing it, as in some cases on past memos and news releases, they may send a corrected memo back out to the locals.....none the less, the stock did drop during those 2 days based on rumors, and when the facts came through it all...it started to go back up...see how dangerous a rumor can be?....42 more laid off in Atlanta today for a total of 421...that makes a total of 585 of our freight members laid off in Atlanta as of today....so keep those damned rumors going!...KK
 
My shop Steward told me and he was given the info by the BA, our shop Steward mentioned that the BA was pissed so maybe this isn't just a rumor??? From what I heard they want a 3 month extension, maybe longer on the pension fund, which fund a are we talking about though or does it matter?
 
Is anybody really surprised to hear this? This pos company is going to milk you, us, for every dime they can before the locks go on. The pos union will certainly give anything to the company so they can milk your, my dues a few more monthes. Mark my words, they "will" be back asking for more money if they have time. I have no doubt the pos co and union knew this but figured a 10% cut would ram a lot easier(I voted no and took a picture of my ballot for argument sake). Now how much money and time will be wasted for another vote? The first sign of the end is a paycut, then the pension payment halt. Like I said, all they're wage savings are based on 40,000 employees. How many 1,000s have been laid off to cut the savings by Millions? I suggest that all the yes men take another 20% paycut and the pension contributions continue in full. I'll take my retirement a couple of years early while the yes men keep working(I mean showing up)and I collect my check for a while. Damn! I should become a union official with smart me me me thinking like that. Just my humble opinion. PS: Don't our illustrious union officials get their pensions from 3 different sources? Pension funds, local conferences and what, national? So they'll make out just fine on our backs!
 
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