Yellow | YRC’s deal with the Teamsters: 5 percent wage giveback, 18-month pension freeze = $90

[Jeff]

YRC’s deal with the Teamsters: 5 percent wage giveback, 18-month pension freeze = $900 million annual savings

Give that the average age of a Teamster at YRC is about 60, the pension freeze is even harder to swallow, according to Ken Paff, organizing for Teamsters for a Democratic Union, the dissident wing of the 1.4 million-member union.

YRC’s deal with the Teamsters: 5 percent wage giveback, 18-month pension freeze = $900 million annual savings - 7/14/2009 4:04:00 PM - Logistics Management

 

[canadian]

“Shrinking to prosperity has never worked in the LTL business, yet YRC is attempting to be the first to pull it off,” wrote Ross. “We do not know, when we wind down 2009, whether the company will still be operating as it is today, operating in a different/smaller form, or closed for good.”

 

[wild deuce]

that is alot of money

That is, might as well say, one billion dollars. If the heads at YRCW can not run a corporation with this much money....they deserve a cell right next to Bernie Madoff!

 

[electraglideatl]

That is, might as well say, one billion dollars. If the heads at YRCW can not run a corporation with this much money....they deserve a cell right next to Bernie Madoff!

Today we learned that the Teamsters will be 1/3 owners of the company and we will have a "WATCHDOG" on the board of directors.......good times are coming back yall........yeehaw..........:TR10driving03:

 

[ponyxpres]

we won't be the owners of anything, according to all the nay sayers!!

 

[longblade]

im wondering if that WATCHDOG is the same guy who came up with this great recovery plan

 

[diesel dummy]

Ok brothers and sisters. I just want everyone to know that I will be the new commander and chief. Yea haw. Lets get down and party. Where are all the ladies?