Why taking the freeze is probably for the best

Discussion in 'New England Motor Freight' started by Hawks9718, Apr 6, 2010.

  1. Hawks9718

    Hawks9718 Member

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    http://www.telegraph.co.uk/finance/...-as-AAA-states-implement-austerity-plans.html

    http://www.telegraph.co.uk/finance/...ients-how-to-prepare-for-global-collapse.html

    http://www.marketwatch.com/story/how-to-invest-for-the-debt-bomb-explosion-2010-02-09

    http://www.marketoracle.co.uk/Article15054.html

    So. To sum it up, if you didnt already know, this "economic recovery" is bullsh*t. To add to the ongoing joy is a looming collapse of highly leveraged private debt, sovereign debt, commercial real estate and maybe even a currency crisis. Cool!

    The fact that this company is pinning its hopes to a recovering retail sector is scary, based on the fact that sales tax reciepts are declining and continue to do so. U6 (real) unemployment figures are near 20%. Who do they think is going to be spending? Maybe if they can get Dollar General to ship with us, since thats all people are gonna be able to afford soon.. Note to NEMF white collars, snuggle up to Dollar General and manufacturers of guns, ammo, dehydrated food, tear gas, pitchforks..

    Anyway.. The point is, despite all the bit*hing and moaning we do, we're all lucky to still have an income. Use the opportunity of that income stream to sock away cash, buy gold etc. and prepare for the day when 50% of Americans *dont* have jobs.

    If you dont want a freeze and are pissed off, fine, vote FOR it and then happily start filling out applications elsewhere. There are still some of us who want to keep our jobs for as long as possible.

    Just my .02
     
  2. stmike

    stmike New Member

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    1) It isn't just a wage freeze, the head of our local reopened the contract for negotiation, WE ARE VOTING FOR A NEW CONTRACT WE HAVEN'T EVEN READ. I see a lot of posts how people need this job to pays mortgage, bills, etc. Would you sign or refinance a mortgage without reading the terms? They told us about less pay for new hires, anything else, wouldn't you like to know before voting.

    2) I've read before that NEMF reads this board, things like the thread starter make me wonder of they post here too. Also most of the quoted articles are about England's economy, (UK.url).
     
  3. Hawks9718

    Hawks9718 Member

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    [quote author=mtkayak link=topic=79008.msg819926#msg819926 date=1270634227]
    Would you sign or refinance a mortgage without reading the terms? They told us about less pay for new hires, anything else, wouldn't you like to know before voting.[/quote]

    I'm not in your local, so I know what im voting for. A freeze.

    They may be quotes from a UK newspaper, but maybe you missed the part where it said a debt to GDP ratio of 125% in the US. Or when Societe Generale mentioned a possible "global economic collapse", that doesn't include the US?

    Or maybe being that you're brilliant like I, you already know we have over a trillion dollar budget deficit, $14 trillion in national debt and over $60 trillion in unfunded liabilities as a nation. Errr, the United States.. Incase you think im talking about merry old England. I have to be sure and speak slowly for you.

    Is he talking about the UK? Oh wait.. US Dollar, Fannie mae.. Oh, ok.

    Enough yet? Maybe this will help;

    http://www.rollingstone.com/politics/story/32255149/wall_streets_bailout_hustle/print

    Here is a nice set of stats;

    Oh yea, and in doing further research, I see that the % of US Debt to GDP is 367%, not 125% as reported in those smarmy UK links.

    I'm sure you're also aware that this summer brings the highest level of Adjustable Rate Mortgage resets since the loans were first written during the bubble.. Which means more defaults, more forclosures = less consumer spending = less freight.

    But go on believing the economy is lollipops like Bernanke and CNBC tell you it is. Keep pumping in 15% to your 401k.. Lots of executives need you to buy stocks, while they're busy selling, quietly.

    The economy is not recovering. Before we're all out of jobs when the next economic shoe drops, lets keep the doors open and keep our paychecks.

    PS, if you check old posts/threads started by me, you'll see im a driver.. Maybe you can even figure out what terminal im from.

    PPS, I'm talking about the.. Uh.. US economy.
     
  4. stmike

    stmike New Member

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    Okay your are right those where some cheap shots and you voting for a pay freeze, the question is , what else.

    Tom Connery told us a no vote would require a strike. The question to our steward; we have a contract now, we are being asked to change that contract, is we say no, that contract remains in force, why would we have to strike. He asked our business agent and received the answer about the contract being reopened.

    So we are being told about wage freeze and less pay/benefits for new hires, anything else, the one way to know is to read the contract before voting.

    I'm sure you can ask your steward the same question, whichever terminal your from.
     
  5. imovaherenow

    imovaherenow Member

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    Hey.................. HELLO.... NEMF has nothing to do with the global economy....and i do understand they are responding to what is happening.

    NEMF put themselves in this mess..and the only way to get out is a wage freeze? REALLY????....FACT IS NEMF IS ONE OF THE LOWEST PAID CARRIERS ALREADY AND IF YOU LOOK AROUND THE CARRIERS WHO ADJUSTED LAST YEAR ARE SEEING RESULTS.

    SO I ASK WHY NOW, WHAT HAPPENED TO THE 30 MIL STOWED AWAY FOR EMERGENCY?

    DONT PEE ON MY LEG AND SAY ITS RAINING..

    FROM WHAT I'M HEARING ALOT OF NO VOTES......GOOD LUCK :popcorn:
     
  6. Hawks9718

    Hawks9718 Member

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    [quote author=mtkayak link=topic=79008.msg820165#msg820165 date=1270721443]
    Tom Connery told us a no vote would require a strike. [/quote]

    It would require a strike vote (I still dont understand why). So, vote no.

    I have no idea what you mean.. As far as I know, its a wage freeze with a possibility of the contract being re-opened a year from now.

    [quote author=imovaherenow link=topic=79008.msg820173#msg820173 date=1270728090]
    Hey.................. HELLO.... NEMF has nothing to do with the global economy.... [/quote]

    A hypothetical... Greece is close to defaulting on its debt. If it does it will send shockwaves through the market and call into question the Wests sovereign debt and curriencies. So, interest will rise, completely collapsing the housing market again.. People will ditch dollars and euros and buy commodities, driving up the price of oil, which raises fuel costs.. Which NEMF is now unable to raise fuel surcharges b/c of demanded caps of those charges by customers after the last oil spike.

    You were saying..?

    Im sure the millions on unemployment thought mortgage backed securities, Bear Sterns and credit default swaps had nothing to do with them either. Just like years ago, people thought NAFTA (you know, that global economy thing) was a good idea.. Till millions of our jobs were shipped to Mexico.

    I dont know, ask the wonderful union.. They "looked" at the books.

    I hear unemployed people are really underpaid too.

    True, but we're not FedEx or Conway. We dont have other business ventures to offset pure LTL losses.

    I dont really care how it goes, I dont have to pay your bills. All im saying is keep your paychecks flowing to prepare for whats coming. If you wanna play economic chicken in this enviroment, with whats coming, thats on you. We all cut our own deal in life.

    After YRC folds (not if, but when), we go back to the table and shove it up their a*s.. And while your at it, at the conclusion of your contracts, vote out the IAM and get a real union in here. Not a company "bought and paid for" union.
     
  7. imovaherenow

    imovaherenow Member

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    HAWKS9718....your posts are good and accurate...my dealings with this union is that its a joke..the BA'S are jokes and the stewards are a bunch of guys looking to fullfill things lacking in their life. their biased and for the most part totally ignore dockman.

    THIS "union" or lack there of.. is a companies dream..to sell where unionized and then run each terminal seperately is moronic....look at the terminals that closed last year and the closures of canada..cmon has anyone seen an uptick in business from canada.....duhhhh..its becasue there importers not exporters.

    and for the union to say "we looked at their books"...well THE MEASTERS...said the same thing..and they took 15% and the pension....


    fyi....YRC goes out.....dont expect to get ur money back....
     
  8. crazy

    crazy Well-Known Member

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    Hey Hawks9718 :chairshot: You have some info on this""After YRC folds (not if, but when), we go back to the table and shove it up their a*s..

    :poke: Hope your not going around still telling customers that YRC is going to shut down..Hope your not disappointed when they return to making a profit later this year. The only way any of these LTL companies are going to make money is to stop with the big discounts just to gain "market share " or put freight on empty trailers..The "customers" have gotten use to the big discounts and like a drug habit it will take a long time to break them as they will go to every carrier one after another..Give YRC credit as they weed through their accounts.If it cant make money then do not put it on the truck..I work for a YRC company and I see what is going on and they will make it...Might want to buy some YRC stock while it is still cheap...
     
  9. Hawks9718

    Hawks9718 Member

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    [quote author=crazy link=topic=79008.msg820694#msg820694 date=1270908775]
    Hope your not going around still telling customers that YRC is going to shut down..Hope your not disappointed when they return to making a profit later this year.
    .
    .
    Might want to buy some YRC stock while it is still cheap...
    [/quote]

    Hmmmm..

    http://eresearch.fidelity.com/erese...ovider=RTRSNEWS&product=COMBINED&sb=1

    So the company that is hundreds of millions of dollars in debt is taking on more debt, while using every accounting gimmick in the FSAB handbook is going to survive huh?

    With all the economic disasters looming, many of which I listed above, I beg to differ... I'd rather buy stock in an Algerian manure company.
     

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