What's new

Yellow | wait they will want more

Happy2 said:
It is more a matter of Mass Mutual wanting to hold your money. I went into management 3 years ago and am no longer allowed to participate in the Teamster 401K. I tried to roll that 401K into my new 401K but was told I couldn't. I explained that I was no longer a Teamster but was told as long as I work for Roadway (YRC) I can't even though I am not eligibale to contribute. Mass Mutual is a POS company, IMO!
Click to expand...

I still do believe that's a government rule in my opinion. You could check for sure with a good financial advisor or CPA.
 
I went through Fidelity, which runs my current 401K. They could not get them to roll the money over either "since I was still a Roadway employee".
 
Happy2 said:
I went through Fidelity, which runs my current 401K. They could not get them to roll the money over either "since I was still a Roadway employee".
Click to expand...

Other than additional paperwork, there's really no disadvantage to leaving your money there unless the fund options in the plan aren't too good.
 
Rv833 said:
Don't forget we now own 35% of a worthless company; IF the shareholders agree to it.

What was the strike price? Something like $3.40 a share ??

And What's it worth today ?? - Better yet, what will the price be on it in a week from today? - Back to a dollar and change ?
Click to expand...

well probably because we are stock holders, and we (the union) have to pay them I believe in 2010 for the stock we got back in January, for the price of around $3 or something, the union is probably going to come after us for the $ because after all we voted it in. So we will have to give up our pension, give a kick back to the company, and then we will have to give it to the union. It looks like a fine mess we got ourselves into:nutkick:
 
Goldwing said:
Your're exactly right... Even people such as myself who advocated for a yes vote know this was it.. Don't bother to come back again, you'll be wasting your time...
Click to expand...
if 90% of the teamsters voted yes, why dont they apply the concessions to them and leave the 10% of us alone (705, 710, etc). The yes voters showed they are willing to take 5 more inches up the rear, so let them.. surly the masterminds of yrc, can save this awesome company with 90% of the take. Everyone is happy, you got what you voted for and I get to keep what I didnt want to give up in the first place... that sounds like an awesome idea.. what you all think?
 
tastytart said:
if 90% of the teamsters voted yes, why dont they apply the concessions to them and leave the 10% of us alone (705, 710, etc). The yes voters showed they are willing to take 5 more inches up the rear, so let them.. surly the masterminds of yrc, can save this awesome company with 90% of the take. Everyone is happy, you got what you voted for and I get to keep what I didnt want to give up in the first place... that sounds like an awesome idea.. what you all think?
Click to expand...

thats what I am talking about our right
 
fwhoudek said:
I've never heard of so much doom & gloom. I truly believe we will all survive this. We will all be on the same level playing field with the nons I also believe we have a better chance to organize them in the future. Some time you have to take a step backward. Ive been in the union all my working days . In my 30+ plus years this is the first time I've been asked to take a pay cut, I've lived with in my means like my parents did and they went through times a lot harder then we are going through now. Before you bash me if all my union time were in one fund I would have retired years ago. You all say no trucking company has survived with give backs .There is always the first time. I also believe when the teamsters stared this 401K they knew the hand writing was on the wall Stay srong
.
Click to expand...

but we are not on the same playing field because UPSF and Fedex makes more than us on the last cut and now make a lot more than us because my brother in law is with fedex and they are 56.36 a mile and 22.43 an hour
 
They won't be back for more. If it don't work it don't work. There is no guarantee it will work. You can only hope it works. They are drowing in debt. If they drown they file. They ain't scrimping and scraping to stay alive and they got nothing to lose. But we on the other hand are talking about a big time loss. Oh well, ya can't win em all. Here's hoping it works :guiness:
 
thejoe said:
They won't be back for more. If it don't work it don't work. There is no guarantee it will work. You can only hope it works. They are drowing in debt. If they drown they file. They ain't scrimping and scraping to stay alive and they got nothing to lose. But we on the other hand are talking about a big time loss. Oh well, ya can't win em all. Here's hoping it works :guiness:
Click to expand...

wtf are you talking about? So you are saying the guys gave up another 5% and the company has no plan to make it work? These guys are trying to do thier jobs to save the company but the guys on top don't care? That is about what your post said?
 
Triplex said:
Come on man, use your gray matter! The Teamsters don't have your 401K money, it's all in the funds for crying out loud. And the regulations about withdrawals are government 401K regulations, not Teamster or fund rules.
Click to expand...

The regulations about withdrawals are from YRCW. They do not have a layoff status in place like most companies. Many companies have Active, Inactive, and layoff. YRCW only has Active and Inactive. I know this because we went through it. We were told YRCW does not have layoff status for withdrawal. All the other regulations are from the Government. You have to be gone from YRCW to do anything with your own money. I was quite pissed about it myself.
 
wtf ? exactly , i voted no

truckchick1 said:
wtf are you talking about? So you are saying the guys gave up another 5% and the company has no plan to make it work? These guys are trying to do thier jobs to save the company but the guys on top don't care? That is about what your post said?
Click to expand...

Well look, this is the third time now. Between the sellout contract and the last paycuts
They still pissed it all away. Somehow you believe they got it all figured out this time? finally?
This time its going to work? Or maybe next time? Give it up man
 
Wake up every1 zollers wants this to shut down .thats the plan . He will keep coming back for more and more until finally he gets more nos than yess then he can say he tried but the teamsters wouldnt play ball . As i was told it was said in d.c. By a high ranking ibt official he's a lunitic and he will bleed us dry then close us down anyways
 
look at his track record he screwed every co. he worked for ..he is a bankrupt specialist... thats why they hired him
 
:twisted:
truckchick1 said:
:twisted: wtf are you talking about? So you are saying the guys gave up another 5% and
the company has no plan to make it work?
Click to expand...
These guys are trying to do thier jobs to save the company but the guys on top don't care? That is about what your post said?
Click to expand...

Where did I say that? The company has a very good plan in place..the new coo, cost and capacity reductions. Not to mention the concessions. What I did say is even with that there is no guarantee. All the backlash and dissension ain't helping :twisted: The debt is a big prob. Here's hoping it works :guiness:
 
Just like our first vote.the strike price was supposed on the close on the last day in dec.then it was supposed to all go in a trust fund.that was supposed to be watched by an old goat.well,folks,the strike price didn't happen til february and we all were given a website to go watch our individual stock options grow....yeah...yeah right..not
 
You must log in or register to reply here.
Top