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ABF | Will Yrc Buy Abf ?

vongrimmenstein said:
You are correct. UPS is the only outfit that can or would even consider buying an LTL outfit. Ya need a lot of cash on hand, & they have it. von.
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And why in the world would they buy either ABF or YRC? Neither make any sense at all for numerous reasons. It won't happen. Ridiculous rumor/thought.
 
teamster82 said:
Abf bought out of the pension like ups did
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ABF did attempt to fund their obligation to Central States several years ago & they had secured loans to do so. There was a disagreement on the amount. The figure was about a billion at that time. The company figures were the deal would be negative cash flow but in seven years they would break even & from that point would be millions of dollars a year savings. ABF does not nor has ever had the revenue of UPS.
To my knowledge ABF did not 'buy out' of the pension anywhere. Do you know where this was done? I am curious to know. The pension fund is like an albatross to ABF & yes the company would thrive without funding pension plans especially Central States.
 
truck101 said:
Back then they had a couple novel things going for them that are now distant memories.... manageable debt and profits. Got neither of those now.
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Plus, you're trying to apply common sense and appropriate business practices to what corporate people do nowadays.....
Neither of which works when you go down the corporate rabbit hole that stands for business in the 21st Century.
 
I wonder at times if business loans are too easy to get. Some business decisions make no sense & too often result in loan defaults. I heard one business person say he would borrow whatever he could & let the banker worry about the funds. He said after all, it is the banker's job is to worry about money. There is no reason for both of us to worry.
 
DCM_Doc said:
ABF did attempt to fund their obligation to Central States several years ago & they had secured loans to do so. There was a disagreement on the amount. The figure was about a billion at that time. The company figures were the deal would be negative cash flow but in seven years they would break even & from that point would be millions of dollars a year savings. ABF does not nor has ever had the revenue of UPS.
To my knowledge ABF did not 'buy out' of the pension anywhere. Do you know where this was done? I am curious to know. The pension fund is like an albatross to ABF & yes the company would thrive without funding pension plans especially Central States.
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ABF did buy out of a fund in the northeast I think New England or at least that was the plan last contract Don't know the details off hand but they had an alternate plan IT didn't affect that many ABF Teamsters Plan was in critical status Big sticking point was plan wanted a large increase from ABF to help the under funding but wasn't getting any from YRC who have the majority of plan members
 
I think I do remember a New England fund ABF was trying to get out of. The unfunded mandate is usually crippling and prohibitive to buy out of funds.

DCM_Doc said:
I wonder at times if business loans are too easy to get. Some business decisions make no sense & too often result in loan defaults. I heard one business person say he would borrow whatever he could & let the banker worry about the funds. He said after all, it is the banker's job is to worry about money. There is no reason for both of us to worry.
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Yeah,.....why should businesses worry about accountability.....especially when banks are so eager to throw wads of cash around?
When you hand out bonuses for the...amount of loans you write, instead of the...quality.....
You end up with businesses valued at 70 million...getting 700 million in loans...
 
canaryinthemine said:
I think I do remember a New England fund ABF was trying to get out of. The unfunded mandate is usually crippling and prohibitive to buy out of funds.



Yeah,.....why should businesses worry about accountability.....especially when banks are so eager to throw wads of cash around?
When you hand out bonuses for the...amount of loans you write, instead of the...quality.....
You end up with businesses valued at 70 million...getting 700 million in loans...
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Just looked back on previous post ABF was allowed to withdraw from New England local 707 and then immediately reenter the plan as a new employer and remove liability
 
BIG R GUY said:
Yes. But Zollars was going to pay it all back using back office synergies.
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Back Office Synergies? Maybe I spelled it wrong........Is it "SIN-ergies"? .....and "back office SIN-ergies" is what occurs during office Christmas parties after wallowing in the Punchbowl?

Ahhh,....Now I see what they're going to do to....the loans they received....
 
canaryinthemine said:
Plus, you're trying to apply common sense and appropriate business practices to what corporate people do nowadays.....
Neither of which works when you go down the corporate rabbit hole that stands for business in the 21st Century.
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Maybe you will enjoy the socialism BLM will being to America.
It's working great in Venezuela. if you don't mind breaking into the zoo for something to cook for dinner....
 
Puff Driver said:
Maybe you will enjoy the socialism BLM will being to America.
It's working great in Venezuela. if you don't mind breaking into the zoo for something to cook for dinner....
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Don’t drag the partisan political garbage over here. There’s a whole (dump) site where you can scream “socialist” all you want.....Go on over there with the political stuff.

We’re poking at the corporate culture......Working people have always done that....Surely your sympathies lie with the rank-and-file.....
 
canaryinthemine said:
Don’t drag the partisan political garbage over here. There’s a whole (dump) site where you can scream “socialist” all you want.....Go on over there with the political stuff.

We’re poking at the corporate culture......Working people have always done that....Surely your sympathies lie with the rank-and-file.....
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you are absolutely correct, Canary...this needs to go to the WDC forum...I can't go there anymore and wouldn't like that kind of ilk posted on this forum...Thank you
 
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