ABF | What the non union carriers think of us at ABF.

[truxforever]

Isn't it funny what a non union CEO would think of the teamster at ABF at contract time. Doug Stotlar, president and CEO of $5.4 billion Con-way Inc., a major rival in the LTL sector, recently told LM that ABF “had a case” to go it alone in its negotiations with the Teamsters.

Stotlar called ABF “the most disadvantaged company in our industry,” adding it has all the costs of a unionized carrier, without the concessions to operating efficiently in the market place.
“They are getting bludgeoned,” Stotlar told LM. “They have a legitimate beef with the Teamsters.”

ABF preps to negotiate its own deal with Teamsters - Article from Logistics Management

 

[truxforever]

What did you think he was going to say about the teamsters coming from under CF.

 

[wolf]

Truth be known ALL Drivers are distasteful to him.

 

[mud]

Con-way hasn't had a decent person running the company since Jerry Detter left.

 

[Muler]

Con-way hasn't had a decent person running the company since Jerry Detter left.

I agree Mud. I think Con-way is at a disadvantage with him at the top.Goes to show you what the ABF Teamsters can do since we are so over loaded with cost. He is just trying to get new customers. But he should understand our customers are with us for a reason. This from a guy that came up with a $90.00 for any skid going anywhere to try and put yrc out of business. Ask him how that worked out for him. YOUR BROTHER ALWAYS!

 

[nothumbleenough]

I agree Mud. I think Con-way is at a disadvantage with him at the top.Goes to show you what the ABF Teamsters can do since we are so over loaded with cost. He is just trying to get new customers. But he should understand our customers are with us for a reason. This from a guy that came up with a $90.00 for any skid going anywhere to try and put yrc out of business. Ask him how that worked out for him. YOUR BROTHER ALWAYS!

Here's out it worked out for his company. 88 million in net income in 2011 versus 6 million for ABF in the same year. In 2010, net income of 4 million for Conway, 32 million loss for ABF. CNW Annual Income Statement - Con-way Inc. Annual Financials

ABFS Annual Income Statement - Arkansas Best Corp. Annual Financials

Conway has a market cap over 1.5 Billion and a share price above $26.

ABF has a market cap over 200 million and a share price above $8.

I'd say its worked out a lot better for Conway than it has for ABF.

 

[Muler]

Here's out it worked out for his company. 88 million in net income in 2011 versus 6 million for ABF in the same year. In 2010, net income of 4 million for Conway, 32 million loss for ABF. CNW Annual Income Statement - Con-way Inc. Annual Financials

ABFS Annual Income Statement - Arkansas Best Corp. Annual Financials

Conway has a market cap over 1.5 Billion and a share price above $26.

ABF has a market cap over 200 million and a share price above $8.

I'd say its worked out a lot better for Conway than it has for ABF.

Why didn't you go to Conway then? Remember Conway was a spin off of a union company. So if I am getting your point ABF should discontinue all pension plans lower their wages and this will be the cure all for ABF. And if you don't think that our stock price has not been driven down then you are as slow as I thought you were as your post have shown. You call yourself a union man (which I don't believe you are) And you think that someone that robbed thousands of their right to a life after Conway is a true leader. He just took and took as to raise the value of Conway is that what you what ABF to do? I made a comment about his once plan to charge $90.00 a skid anywhere and it cost Conway millions and millions of dollars. And you jump to his defense union yeah. We will see after our contract what our new market cap becomes. By the way if it is so bad here why haven't we heard of the defections like all the past companies have suffered. Because they know the real story. You just stay under the bed and let the real men handle the union thing. YOUR GONNA CALL YOU TO COME OUT FROM UNDER THE BED BROTHER WHEN IT'S OVER ALWAYS!

 

[nothumbleenough]

Why didn't you go to Conway then? Remember Conway was a spin off of a union company. So if I am getting your point ABF should discontinue all pension plans lower their wages and this will be the cure all for ABF. And if you don't think that our stock price has not been driven down then you are as slow as I thought you were as your post have shown. You call yourself a union man (which I don't believe you are) And you think that someone that robbed thousands of their right to a life after Conway is a true leader. He just took and took as to raise the value of Conway is that what you what ABF to do? I made a comment about his once plan to charge $90.00 a skid anywhere and it cost Conway millions and millions of dollars. And you jump to his defense union yeah. We will see after our contract what our new market cap becomes. By the way if it is so bad here why haven't we heard of the defections like all the past companies have suffered. Because they know the real story. You just stay under the bed and let the real men handle the union thing. YOUR GONNA CALL YOU TO COME OUT FROM UNDER THE BED BROTHER WHEN IT'S OVER ALWAYS!

Competition. That is why they did the $90 skid. Your narrative made it out as a bad move. It was simply the strong killing the weak, which is the nature of competetion. Considering the relative strength of the company since the move, I question you lack of expertise in running an efficient LTL operation. You may well be an excellent driver/doc worker, but you do not understand the numbers of a profitable company.

 

[papajohn]

Competition. That is why they did the $90 skid. Your narrative made it out as a bad move. It was simply the strong killing the weak, which is the nature of competetion. Considering the relative strength of the company since the move, I question you lack of expertise in running an efficient LTL operation. You may well be an excellent driver/doc worker, but you do not understand the numbers of a profitable company.

lol this is funny stuff you should have become a comedian!!!!!!!!!!!!

 

[Razorbacks]

The facts are facts, and the numbers don't lie. Conway (along with the other nons) are rapidly growing, and we are barely treading water. I want to retire at ABF but unless something changes, I don't see it happening.

 

[Docker]

The facts are facts, and the numbers don't lie. Conway (along with the other nons) are rapidly growing, and we are barely treading water. I want to retire at ABF but unless something changes, I don't see it happening.

What numbers...are you referring to Judy's $455,000 raise or the 180 million that they spent on Panther? Does giving Judy that raise and buying Panther sound like a company barely treading water to you?

 

[Docker]

Competition. That is why they did the $90 skid. Your narrative made it out as a bad move. It was simply the strong killing the weak, which is the nature of competetion. Considering the relative strength of the company since the move, I question you lack of expertise in running an efficient LTL operation. You may well be an excellent driver/doc worker, but you do not understand the numbers of a profitable company.

Considering this ridiculous post...I question your lack of expertise at anything.

 

[Razorbacks]

Docker - A CEO's pay and bonus is an easy deflection; unfortunately, this is not a core issue facing ABF's financial situation. CEO's make susbstantial amounts of money, and we are wasting our time worrying about CEO and executive level compensation packages. Financial statements and operating ratios should be the topic of discussion...

 

[Docker]

Docker - A CEO's pay and bonus is an easy deflection; unfortunately, this is not a core issue facing ABF's financial situation. CEO's make susbstantial amounts of money, and we are wasting our time worrying about CEO and executive level compensation packages. Financial statements and operating ratios should be the topic of discussion...

Maybe a deflection to you but a major issue for me when they give her a $455,000 a year raise after trying to take away from my $50,000 a year wage. That's not what you call wasting my time...that's what you call corporate greed!

You say that financial statements and operating ratios should be the topic of discussion...so...produce them and show me how they are just barely treading water.

 

[Razorbacks]

Docker - I don't like hearing of the giant bonuses either, and I also have not enjoyed the financial prosperty of the upper echelon. I am not as concerned about the top tier players as I am with the rest of us 99.9%. The financial results are everywhere, so I dont know what you want me to produce. Our operating ratios are the worst in the industry and with the YRC concessions, they will continue to lag behind. I hate it as much as anybody, but that is just the simple truth. I don't think the company is trying to screw anybody...they are attempting to ensure the company's longevity. It's no longer ABF vs the Union. It's ABF vs survival, and we have to be on the same page.

 

[Docker]

Docker - I don't like hearing of the giant bonuses either, and I also have not enjoyed the financial prosperty of the upper echelon. I am not as concerned about the top tier players as I am with the rest of us 99.9%. The financial results are everywhere, so I dont know what you want me to produce. Our operating ratios are the worst in the industry and with the YRC concessions, they will continue to lag behind. I hate it as much as anybody, but that is just the simple truth. I don't think the company is trying to screw anybody...they are attempting to ensure the company's longevity. It's no longer ABF vs the Union. It's ABF vs survival, and we have to be on the same page.

I don't give a rat's ass about bonuses...you're missing the point...you just don't try to get concessions from the workers...then give out huge raises to the upper echelon.That's an insult to every single worker and just goes to show you what they actually think of us.

Now...you are the one that claims that the company is barely treading water...all I'm asking you to do is prove it.

Also...you didn't answer my question...Does giving Judy that raise and buying Panther sound like a company barely treading water to you?

 

[nothumbleenough]

Barely treading water.... 2009 ABF had a net income loss of 127 million. 2010 ABF had a net income loss of 32 million. 2011 ABF had a net income of 6 million. A three year total of 155 million in the hole. ABFS Annual Income Statement - Arkansas Best Corp. Annual Financials

Judy got her money because she is the CEO of the parent company of ABF which is called ABFS and they are effectively diversifying assets from union to non-union assets, i.e. Panther, Albert, etc. Nobody celebrates the money these executives get, but clearly she is following a course of direction set forth by the board to increase shareholder value. Paying an extra 45 million into the pensions of people who never worked a day at ABF no longer accomplishes that goal of shareholder value and you have a company preparing to win a fight if the rank and file do not show some sort of serious consideration.

 

[wolf]

Does giving Judy that raise and buying Panther sound like a company barely treading water to you?

Sounds like a lot of companies nowdays....altho most of em don't worry if their treading water or not when making these calls.

 

[Docker]

Sounds like a lot of companies nowdays....altho most of em don't worry if their treading water or not when making these calls.

Yes...it does Wolf...Hostess was a prime example of that.

 

[Razorbacks]

Docker - Although ABF has lost a significant amount of money since 2008, I agree that they (we) (us) have a solid foundation with excellent cash reserves on the balance sheet; however, being proactive now gives ABF a greater chance to be around for another 80 years. Waiting until chaos arrives (YRC) will result in a painful process nobody will enjoy. Rewriting/modifying aspects of our culture now "may" solidify our position in the LTL industry for years to come. I don't have the answers, but I know that repeating what isn't working will ultimately fail. For this reason, I am at least open to the conversation.