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XPO | Why Would Conway Mess With Pensions? Here Might Be Answer?!

Freightmaster1

Freightmaster1

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:pirate2: Just a thought...If another company like DHL was considering buying Conway, and all the financials looked good, EXCEPT the pension fund liability, what would Conway do to make the purchase a lot more attractive to DHL! Of course! They would try to reduce the pension fund liability to DHL by changing the defined benefit plans to defined contribution plans/401K plans. They could do this by freezing the defined benefit pension plans, and eliminating the defined benefit plans for new hires. They could then offer enhanced 401k plans to the "frozen out" former defined pension participants or give them some enhanced "benefits" that would look real good on paper. This is just a thought, but I've talked to more than one person who thinks this is just what Conway will do to make whoever buys them happy! No company wants to take on any huge pension liability today. Conway execs will spin this one good, and try to get you drivers to buy it! BEWARE! And fight like cats and dogs to keep your defined benefit plans! Some of you guys have been around for 22 plus years and can't "start over" in some bogus 401k plan with a lot of false promises. Do some research and find out for yourselves. Good luck and let us know how you make out!
freightmaster 1
 
Freightmaster I've heard nothing about duing away with the pension from any management just here on the boards.If dhl wanted to buy con-way it could do what ups is going to do with overnite.If the teamsters pressured them they would go union but make their own dhl personalized contract, nowbodys pension is 100% safe,that is why ups didn't buy a union carrier pension liability.Their going to do it how they want and the teamsters will throw the other members under the current nmfa under the bus to get the dues money.What do ya think about that.
 
I have never seen such a bunch of screaming alaramist in my whole life... you people read this crap therefore it must be true... right? .... wanna buy a bridge in Arizona?
 
Where is the paper work or information about the pension being under funded ?The only thing I have seen is CFC getting short on there pension and that is when they got spunned off CNF.CNF didnot transfer the full amount of funds for their pension.
 
We better.I still have not seen anything saying we don't have a pension. Last time I talk to the benefits office they said I did and that was around 5 months ago.Any ways I'll find out for sure very soon. You all have a nice day. I have to get some rest.I work nights.
 
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