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XPO | Xpo Union Thread.

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Fly-by-night said:
I agree with upnorth on this. I do not what a company running a pension for me I would rather they give me the money and let me invest it, so when I retire I know what I got and not worry about a pension that may or may not be funded.
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Canadians didn't loose their pension due to different laws versus U.S. workers , right? Please correct me if needed.
 
stryker said:
You cap the hours you pay on. Most company's pay on about 2000 hours a year per employee for the pension. Not every hour worked for the year.
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From the source:
"Costs for defined benefit plans are collected by the Bureau of Labor Statistics through the National Compensation Survey. For private industry estimates, the National Compensation Survey does not collect actuarial estimates or actual costs of pension benefits paid to retirees."

In other words, it doesn't matter how they actually pay out the benefit- the cost is an absolute ratio of hours worked to total cost. Using it to estimate total cost only requires total hours worked.

That being said, I didn't know about the cap- thanks for that info.
 
sucker666 said:
You didn't answer my question. No one would agree to putting such of wording in a contract and your smarter than that to suggest such a thing .
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Of course I didn't answer your question. You wanted me to defend a statement I didn't make.

Anyway, that's what "bargaining" is- you accept things you don't want to get things you really want. Remember, neither the company or your bargaining agent is required to concede anything. That means if you want to get, you're going to have to give. If you want a lot, the other side can and will ask for a lot. Since you're just a passenger on the Teamster bus, there's no reason the union can't put things that benefit them into your contract, and don't think they won't.
 
sucker666 said:
So it works with are European Xpo entities but it can't here.
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No, it can't. American labor unions have always been way behind Europe, even at their peak. It's a cultural thing- Europeans are more receptive to the idea of a collective. We're not all the same just because we have the same sticker on our trucks.

sucker666 said:
Also if I remember right it was working quite well when we were Con-way.
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Yeah, and the people running it were smart enough to see the writing on the wall and switch over when it was healthy, rather than wait for it to become insolvent before they tried to fix it. We were running ORs in the mid- to upper 90's before the buyout- where was the money for this "working quite well" pension going to come from? It would have seriously accelerated the slide Con-way was already in.

sucker666 said:
There's a big difference in don't want to fund a pension and not being able to afford it. The money is there it just how its divided.
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That's hilarious. Yeah, and I can afford a Ferrari. The money is there, I'm just not spending it on a Ferrari. That sort of overly simplistic thinking is why you're driving a truck and not running a multi-billion-dollar global corporation.

sucker666 said:
Also I have to go back and check but wasn't Mr Jacobs bonus last year was in the 20 million range alone not counting the other officers.
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Well, damn, let's just knock him down to 100k or so, right? Save us 19.9 million. That's 1/7th of the money we need for that pension, right? But who will we get to work for .1 million? Probably some guy who thinks all we need to do is reroute a couple hundred million to a pyramid scheme and all of our problems will end. Sorry, pal, I don't want to work for you.
 
sucker666 said:
There are many option also other than a pension that would also benefit us much better than the 401k with small match that we have now.
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Speak for yourself- even with modest market gains I'll retire as a multimillionaire with our crappy retirement plan, and all I did was follow directions.

sucker666 said:
Xpo can continue to offer the bare minimum retirement package but they shouldn't expect to be able to attract quality drivers and management for that matter. Its not sustainable and possible to be the best and offer the least.
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So you're saying that of all the LTL companies, we offer the least with our "bare minimum package"? I don't believe that.
 
Fly-by-night said:
So how long has it been for Miami???
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More than two years... and counting.

BUT, in addition to that bulletin board from last year, they recently produced an agreement to deliver paychecks on Thursdays. So, let's hear it for those guys, huh? And XPH thinks they'll be negotiating wages in the fall, in less than a year.

You can't see it, but I'm raising my fist in the Teamster solidarity salute. That's some serious optimism.
 
Serene Gene said:
No, it can't. American labor unions have always been way behind Europe, even at their peak. It's a cultural thing- Europeans are more receptive to the idea of a collective. We're not all the same just because we have the same sticker
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Correct me if I'm wrong , but doesn't FedEx Freight offer a pension? AND a 401k plan?
 
Fly-by-night said:
Wow, all of you bitching out what Brad makes. This is a free country and you had every right to do what he did. Instead you choose to be a truck driver while he choose to build companies. You became the worker while he strived to be the owner and now you mad at him for it. Do I agree with everything that he is doing? No! Yet we all forget he is the one that can up with 3 billion to buy Con-way and when you spend that kind of money you have ever god given right to do with as you please. What was your offer?
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We can post what we want! It's a free country rite?
 
Serene Gene said:
Speak for yourself- even with modest market gains I'll retire as a multimillionaire with our crappy retirement plan, and all I did was follow directions.



So you're saying that of all the LTL companies, we offer the least with our "bare minimum package"? I don't believe that.
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A lot of LTL companies out there offering better company matches and some offers some insurance coverage if you have enough time in and wanted to retire early before you are eligible for Medicare.
 
Serene Gene said:
More than two years... and counting.

BUT, in addition to that bulletin board from last year, they recently produced an agreement to deliver paychecks on Thursdays. So, let's hear it for those guys, huh? And XPH thinks they'll be negotiating wages in the fall, in less than a year.

You can't see it, but I'm raising my fist in the Teamster solidarity salute. That's some serious optimism.
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Gene thanks for all your insight as to what we can expect from the company during negotiations. I will be sure to pass it in to the drivers who are involved at the negotiation table. Your a great source of information to the company's strategic plan one would almost think that your involved in it personally but that's just silly thinking on my part. Away we do appreciate your info:1036316054:


Ps
You would be surprised how they value to every word you say. Keep it coming.
 
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SAC75 said:
We can post what we want! It's a free country rite?
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You sure can. I just saying why bitch about someone else and what they are doing, or did with their life and worry about you own. Don't like what he's doing here well then go buy your own trucking company and run it the way you want to.
That's why I asked them "what was your offer"
 
trucknfool said:
A lot of LTL companies out there offering better company matches and some offers some insurance coverage if you have enough time in and wanted to retire early before you are eligible for Medicare.
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Wow that's like driving a Ford and saying how great a Chevy is. If it is soooo great out there then leave go work for one of those companies. I used to be like you and talk how other companies were better then the place I worked and left. I used to work for AF now FedEx freight which a lot have said that's one of the places to go.
 
Fly-by-night said:
I guess you missed my point. FedEx plan start 8yrs after AF (American Freightways) was bought by FedEx . We were bought less than 2yrs ago that's my point


They offer a plan hell sucker666 you ask them about on their thread: http://www.truckingboards.com/bb/threads/pension.79619/
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I don't know the quality of their ( FedEx Freight ) pension but going from your responses, FedEx DOES offer a pension alongside their 401k.

XPO's largest ( also non-union ) competitor offers a pension and a 401k.

I didn't miss your point - I've asked a question. Another poster made it seem as though what FedEx Freight is doing can't be done in America. And I would guess FedEx is still profitable while doing so.
 
Serene Gene said:
Speak for yourself- even with modest market gains I'll retire as a multimillionaire with our crappy retirement plan, and all I did was follow directions.
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All kidding aside I would love to pick your brain when it comes to investing if you ever have some spare time. That sounds like a spectacular return.
 
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Serene Gene said:
More than two years... and counting.

BUT, in addition to that bulletin board from last year, they recently produced an agreement to deliver paychecks on Thursdays. So, let's hear it for those guys, huh? And XPH thinks they'll be negotiating wages in the fall, in less than a year.

You can't see it, but I'm raising my fist in the Teamster solidarity salute. That's some serious optimism.
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Ford.Chrysler.GM

When contract time came around , the union and company would have a lead company that an agreement would be hammered out with. It would take longer because it was the first one.

Once the lead was done the other agreements were patterned after the lead and wrapped up a lot quicker since they were based off of the initial agreement.
 
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