Yellow | Wednesday Meeting Between YRCW And IBT!

[muffin top]

I`m glad the teamsters of old had a backbone unlike some of the teamsters today, stood strong, and fought for the wages benefits and pension(which is slowly fading away) or YRCW`s employees would be working for minimum wage today.

The funny thing is the Teamsters of old are the yes voters quick to give up everything they and those before them fought for, scared to death to lose this job, thinking there is nothing else out there. The younger teamsters and those with less time and less to lose, I believe are the ones who ultimately pushed the no vote. I could be wrong, but I see a lot of senior men in a panic believing everything yrc has told them eager to give up everything for a little peace of mind.

 

[MuddleVanHeck]

Does any body realize that if the company could get to a operating ratio of 97 that would only be 150 million a year profit? They are 1.3 billion in debt so even if interest rate was at 0% it would still take 13 years to be debt free. Those numbers assume they still gross 5 billion a year

Seldom does a corporation strive to be debt free. I think they'd just like to get the debt paid down to a manageable level.

 

[MuddleVanHeck]

The funny thing is the Teamsters of old are the yes voters quick to give up everything they and those before them fought for, scared to death to lose this job, thinking there is nothing else out there. The younger teamsters and those with less time and less to lose, I believe are the ones who ultimately pushed the no vote. I could be wrong, but I see a lot of senior men in a panic believing everything yrc has told them eager to give up everything for a little peace of mind.

I think the older Teamsters are more likely to be well-informed about the condition of the economy. They're probably able to read the financials, too. That makes more sense to me.

 

[SinC]

I think the older Teamsters are more likely to be well-informed about the condition of the economy. They're probably able to read the financials, too. That makes more sense to me.

That is what I was thinking almost exactly... that and they have a little life experience... When the worst economic crisis you have been thru was the 'great depression' your view of the last four/five years is bound to be different than someone raised in my gen. Just saying.... Even if you were raised by parents that were babies at the end of the Great Depression you have a different view....

Well stated.

 

[MuddleVanHeck]

They probably are old enough to see their kids struggling to find a job that affords them the opportunity to buy a home, start a family, afford the disaster known as the "Affordable" Care Act, and they're paying attention to politics.

Anywho, thanks, SinC. You're one of my faves on this forum. :)

 

[Wrench97]

Whoa there, none of us are old enough to have lived through the great depression that would put us in our 80's at least.....................................

 

[NPME]

HOW? Drop the games, stop thinking we are 'negotiating for a bigger piece of the pie' and realize we are going to be lucky if the pie is still there. Don't ask yourself "what am I going to have to give up this time" - instead ask yourself - "What were they able to salvage of the things I NEED most".... Take pride in standing behind your company -

Didn't someone once say "Ask not what your country can do for you, ask what you can do for your country" (substitute "country for company")

Standing around blaming someone else isn't going to solve a darn thing.

IMHO :)

I've done enough for my company!! I've given them over $20,000 every year for the last 5 years. In that time the debt has not decreased and Welsh has somehow more than doubled his salary from 2011 to 2012 PLUS taken a quarter million dollar bonus and gotten stock options. Where's the equal sacrifice there? Wait a minute, These things were guaranteed in his employment contract and we all know those can't be changed.

Nobody is helping me pay my damn bills and I'm sick and tired of paying YRCW's bills. If YRC gets what they want this time we'll be looking at a total so far of 10 years of concessions totaling over $200,000 out of my pocket that can't be used to pay my bills, put gas in my vehicles, take my family on vacations, save for my retirement and put food on my plate!!!

You ask for pride in my company. What a joke. What is there to be proud of? You want me to be proud of seeing $400 (15% pay cut + missing pension money) stolen from me week after week?

I'll be proud of my company when they give me something to be proud of. Until then, I'M DONE!!

 

[NPME]

HOW? Drop the games, stop thinking we are 'negotiating for a bigger piece of the pie' and realize we are going to be lucky if the pie is still there. Don't ask yourself "what am I going to have to give up this time" - instead ask yourself - "What were they able to salvage of the things I NEED most".... Take pride in standing behind your company -

Didn't someone once say "Ask not what your country can do for you, ask what you can do for your country" (substitute "country for company")

Standing around blaming someone else isn't going to solve a darn thing.

IMHO :)

One more thing before I step down from my . One issue I have not seen discussed and should be bothersome to everyone involved is the timing of this thing.

YRCW has known since the last refinance (2010-2011 I believe) that these notes were coming due in February and September of this year. The leaders of this company decided to wait until the holiday season to spring their little Christmas present on us and try to jam it down our throats.
Is anyone else offended by this? I think it's disgusting for this corporation took advantage of the holiday season knowing damn well that a lot of people go in debt over the holidays. They waited till they thought we were vulnerable and sprung into action.
I hope every employee that had their holiday season ruined by this debacle keeps this in mind and realizes just what kind of people they work for.

 

[MuddleVanHeck]

I've done enough for my company!! I've given them over $20,000 every year for the last 5 years. In that time the debt has not decreased and Welsh has somehow more than doubled his salary from 2011 to 2012 PLUS taken a quarter million dollar bonus. Where's the equal sacrifice there?
Nobody is helping me pay my damn bills and I'm sick and tired of paying YRCW's bills. If YRC gets what they want this time we'll be looking at a total so far of 10 years of concessions totaling over $200,000 out of my pocket that can't be used to pay my bills, put gas in my vehicles, take my family on vacations, save for my retirement and put food on my plate!!!

You ask for pride in my company. What a joke. What is there to be proud of? You want me to be proud of seeing $400 (15% pay cut + missing pension money) stolen from me week after week?

I'll be proud of my company when they give me something to be proud of. Until then, I'M DONE!!

Wait... did you literally take out your checkbook and write a check to YRC every week? Or did the members collectively agree (by vote) to accept the fact that their job was going to pay less in order to remain in business? I'm confused.

Also, it's common knowledge that the pension fund probably won't be there for many (if not most) of you folks. It's unreal that anybody actually believes they'll see that money, which is unfortunate. The PBGC has already stated they can't cover it, and the government is looking for ways to dodge any responsibility for those retirees. The government is already on the hook for the public sector pensions. Do you think they care about the private sector? Heck no.

But I understand your anger, don't get me wrong. The job just isn't paying the way it used to.

 

[MuddleVanHeck]

Whoa there, none of us are old enough to have lived through the great depression that would put us in our 80's at least.....................................

I believe she meant your parents or grandparents. :) I actually didn't understand how bad it was until I went to a funeral of a family member and heard all the horror stories our elders went through. It's so easy to take things for granted.

 

[NPME]

Wait... did you literally take out your checkbook and write a check to YRC every week? Or did the members collectively agree (by vote) to accept the fact that their job was going to pay less in order to remain in business? I'm confused.

Muddle, is there really a difference whether I write them a check or never had the money deposited into my account in the first place? The result is the same is it not?

But I understand your anger, don't get me wrong. The job just isn't paying the way it used to.

It's not about what the job pays now. It's about how we got here. This is about reckless corporate spending between 2002 and 2006 that put us in this situation. I wasn't the one that decided to make these purchases but I sure am paying for it. Ironically, Bill Z did make these decisions and he got rewarded for it in the form of 7 digit annual incomes and a nice golden parachute after the damage was done.

 

[bandersnatch]

They probably are old enough to see their kids struggling to find a job that affords them the opportunity to buy a home, start a family, afford the disaster known as the "Affordable" Care Act, and they're paying attention to politics.

Anywho, thanks, SinC. You're one of my faves on this forum. :)

Although for some of us older teamsters we saw the Affordable Care Act allow our children to stay on our excellent insurance through age 26. It hasn't been a disaster for everyone. We're fortunate enough to have great insurance.

 

[MuddleVanHeck]

Muddle, is there really a difference whether I write them a check or never had the money deposited into my account in the first place? The result is the same is it not?



It's not about what the job pays now. It's about how we got here. This is about reckless corporate spending between 2002 and 2006 that put us in this situation. I wasn't the one that decided to make these purchases but I sure am paying for it. Ironically, Bill Z did make these decisions and he got rewarded for it in the form of 7 digit annual incomes and a nice golden parachute after the damage was done.

I totally get the anger towards Zollars. The things he did put the company in this position. I honestly thought we were done several years ago. But I've gotta ask: can you find a comparable job that pays this well? My understanding is that our healthcare alone is worth roughly $2,500.00 month. Also, if YRC goes under, that insures that other union carriers will have the leverage to rein in labor costs. I don't think anybody benefits with YRC gone - including UPS. The harsh reality is everybody is learning to live with less, no matter what your profession. It ain't pretty. But it's reality. Yeah, I miss the money, too. But I'm not excited to move to North Dakota in order to find a job with comparable pay/benefits.

 

[MuddleVanHeck]

Although for some of us older teamsters we saw the Affordable Care Act allow our children to stay on our excellent insurance through age 26. It hasn't been a disaster for everyone. We're fortunate enough to have great insurance.

Even without the ACA, our kids could stay on our insurance as long as they were going to school. We definitely have good insurance. Has anyone actually priced a comparable policy lately? I have. It's frighteningly unaffordable.

 

[bandersnatch]

Even without the ACA, our kids could stay on our insurance as long as they were going to school. We definitely have good insurance. Has anyone actually priced a comparable policy lately? I have. It's frighteningly unaffordable.

Not through graduate and professional school. There was an upper age limit.

 

[EX396]

Muddle, is there really a difference whether I write them a check or never had the money deposited into my account in the first place? The result is the same is it not?

To you the net difference is ZERO. To the company there is a big difference.

 

[NPME]

I totally get the anger towards Zollars. The things he did put the company in this position. I honestly thought we were done several years ago. But I've gotta ask: can you find a comparable job that pays this well? My understanding is that our healthcare alone is worth roughly $2,500.00 month. Also, if YRC goes under, that insures that other union carriers will have the leverage to rein in labor costs. I don't think anybody benefits with YRC gone - including UPS. The harsh reality is everybody is learning to live with less, no matter what your profession. It ain't pretty. But it's reality. Yeah, I miss the money, too. But I'm not excited to move to North Dakota in order to find a job with comparable pay/benefits.

In 2008 they came to us asking for 10% back. They said that would be enough to get over the hump. In 09 or 10 they came back and asked for an additional 5% plus no pension payments for 2 years. Once again, this was supposed to get them over the hump. About 18 months later they again came to us asking to extend the MOU expiration from 2013 to 2015 to get them over the hump and once again they got what they asked for.
Now they come to us for the 4th time in 5 years begging for more. At what point for you does it become enough is enough? For me, I've reached that point. I'm tired of giving while seeing no reduction in debt and I'm sick and tired of the executive compensation at this company. Senior management is stealing food off my plate and piling it onto theirs. Show me pay cuts taking place in the executive offices. Show me the pension cuts for Welsh. The last time I checked the pension contributions for Welsh in 2012 were just south of $100,000.

I think it's time for this leadership team to lead by example. Don't ask me to do something you're not willing to do yourself. I remember in the late 70s when Lee Iacocca was brought in to run a nearly bankrupt Chrysler Corp. He took a $1 annual salary. and was able to turn that company around. I probably earned him some respect from the people that worked for him and I'm sure that went a long way. Can you see Welsh doing something like that??????? I think not. I realize that a $1 salary is extreme and I don;t expect that but some cuts would be nice instead of raises and bonuses

 

[NPME]

To you the net difference is ZERO. To the company there is a big difference.

It's a huge difference to me too when I don't have that money to pay my bills because I'm giving it away to my employer so they can pay theirs.

 

[jimmy g]

I've done enough for my company!! I've given them over $20,000 every year for the last 5 years. In that time the debt has not decreased and Welsh has somehow more than doubled his salary from 2011 to 2012 PLUS taken a quarter million dollar bonus and gotten stock options. Where's the equal sacrifice there? Wait a minute, These things were guaranteed in his employment contract and we all know those can't be changed.

Nobody is helping me pay my damn bills and I'm sick and tired of paying YRCW's bills. If YRC gets what they want this time we'll be looking at a total so far of 10 years of concessions totaling over $200,000 out of my pocket that can't be used to pay my bills, put gas in my vehicles, take my family on vacations, save for my retirement and put food on my plate!!!

You ask for pride in my company. What a joke. What is there to be proud of? You want me to be proud of seeing $400 (15% pay cut + missing pension money) stolen from me week after week?

I'll be proud of my company when they give me something to be proud of. Until then, I'M DONE!!

I assume you have the 1099 Misc Income form you provided YRCW for the money you gave them? I assume you can post the cancelled/cleared checks to prove you gave them that money? If you didn't file quarterly that you were paying YRCW, you're in danger for Tax Fraud!

Unless, of course- what you actually meant was that you simply agreed to work for less? Then- all your figures are hogwash...

 

[NPME]

I assume you have the 1099 Misc Income form you provided YRCW for the money you gave them? I assume you can post the cancelled/cleared checks to prove you gave them that money? If you didn't file quarterly that you were paying YRCW, you're in danger for Tax Fraud!

Unless, of course- what you actually meant was that you simply agreed to work for less? Then- all your figures are hogwash...

Really jimmyg? Do you want to get into the semantics of it? I may not have a 1099 but I do get a pay check every week showing the deduction right out of my pay. Is that close enough for you? By the way. My figures are damn close. I just looked at the pay stub I received today and I had $192 in wages taken out and there was $178 in pension payments that were not made. That's a total of $370 in compensation that I should have received and didn't. That was based on a 48 hour week and I usually work more so $400 is a pretty good estimate.

Does that clarify it for you?