What's new

ABF | YRC rebuffed in move to acquire ABF, ABF's parent says

TurnCoat said:
If this contract isn't passed, you will soon be an YRC employee.....go read the Roundtable post....this is the only agreement, they are going to offer, and IT IS BETTER than the YRC work till you die or until your layed-off plan. I assure you, and many former YRC'ers will agree, under no circumstances do you want to be merged with YRC. We better show Ms. McReynolds and Mr. Slagle some love and support when we get our ballots. Now that I've worked both places, I promise you ABF is by far, a superior outfit. If it merges with YRC, you will be forced into their concessions. Again, ABFer's are faced with a dilemma. Vote yes for some concessions, and still remain the highest paid in the industry, or vote no and eventually be merged into a more concessionary agreement. As you have noticed the stocks shooting up, it is easy to see, that wealthy investors, who are out to make a quick buck, could care less about your future, since they are concerned about theirs. Let's get realistic, the market sets your wages, not some union contract, and the best union contracts can be re-opened and gutted, we all saw that happen.
Click to expand...

I don’t like being negative and would hate to be a martyr but I would rather see ABF bought by YRC than vote yes to a contract that comes with a ‘race to the bottom’ wage concession. Look at the tentative agreement that UPS Freight is getting; why should we make less than they do? Are ABF employees so much inferior to UPS Freight employees? I say no. ABF’s revenue was up over 18% for the first quarter this year over the first quarter of last year, and last year was a bumper year. ABF’s revenue was over 2 billion. That is a lot of $$$ and last year’s revenue was the highest in the companies history. So, ABF makes more money than ever before and we are scared into taking a pay cut. BRILLIANT!!
 
Homesick said:
I don’t like being negative and would hate to be a martyr but I would rather see ABF bought by YRC than vote yes to a contract that comes with a ‘race to the bottom’ wage concession. Look at the tentative agreement that UPS Freight is getting; why should we make less than they do? Are ABF employees so much inferior to UPS Freight employees? I say no. ABF’s revenue was up over 18% for the first quarter this year over the first quarter of last year, and last year was a bumper year. ABF’s revenue was over 2 billion. That is a lot of $$$ and last year’s revenue was the highest in the companies history. So, ABF makes more money than ever before and we are scared into taking a pay cut. BRILLIANT!!
Click to expand...
Your logic is inherently errored. Ups made 1 billion in profit last year while Abf total just barely exceeded 2 billion in total revunue while losing millions. Raises take place at profitable companies, not so much at companies that lose money. Secondly, increased revenues mean nothing when the cost of sales match or exceed said revenues which is the case at Abf.
 
Rollin62 said:
Correct me if I'm wrong, but wouldn't a bunch of pissed off teamsters stop paying union dues in right to work states, if this transaction happened?
Click to expand...
The Union does not control the finanial market, ABF is a bargain right now, and money is cheap. ABF Teamsters better get a clue and decide where they would rather work. It's a no brainer!
 
grovercxl said:
If we reject this contract offer, we will be without a contract as of June 1st. That would seem to me to leave the door open for YRC to buy ABF and not have to worry about what to do with us. We would be out in the cold, and YRC would have the option to hire some of us (at 80% of 85%) if it suited them. If I am wrong on this I would love to know it.
Click to expand...
Who cares I worked for those dirtbags for 10 years. If this goes through I will be looking again, trust me you will not want to work for them. Why do you think they can't find drivers... Because they treat people like $hit & word is out
 
Let me throw out this paranoid delusion of mine. Just spitballin here. maybe some of you with a better business acumen could adress this. Would it be possible for yrc to get that line of credit? If not, could ABF somehow funnel a loan to them. Thus putting us voting with yrc.....benefitting both cos.? I know there are some time constraints there but? LOL. Now that I have typed it, it really does sound paranoid. Thats what 25yrs in trucking will do to ya.
 
grovercxl said:
If we reject this contract offer, we will be without a contract as of June 1st. That would seem to me to leave the door open for YRC to buy ABF and not have to worry about what to do with us. We would be out in the cold, and YRC would have the option to hire some of us (at 80% of 85%) if it suited them. If I am wrong on this I would love to know it.
Click to expand...

GO40 said:
Who cares I worked for those dirtbags for 10 years. If this goes through I will be looking again, trust me you will not want to work for them. Why do you think they can't find drivers... Because they treat people like $hit & word is out
Click to expand...

I worked at big R for two and one-half years before the merger. I enjoyed working there, but six months after the merger Yellow did their famous hard layoff in November. Went to ABF and have never looked back. I will never work for that union busting company again...
 
In a world full of uncertainty it is certain to be a disaster for the employees of ABF and their families to be linked in any way to the management of YRC. I worked there over ten years and they couldn't manage two toddlers at a daycare let alone a multi-billion dollar transportation company. Every move management makes is a gimmick rather than a well thought plan that offers an employee the opportunity to earn a good wage and the company to also profit. I recently had a close buddy go thru orientation for Holland in Holland, Michigan and their management literally said the YRC merger destroyed what was a very good company. I hope this can be avoided.
 
ziper said:
Mr Welch mite want to read the 5 year give back agreement I no he didn't work at yrc when they signed it, but there is wording in the agreement saying you can't buy another truck line with the money you saved in the agreement and if you do snap backs to full wages and benefits kick in.check it for yourself.
Click to expand...
A little creative bookwork and a loophole that I bet is there and viola, the money comes from somewhere other than the cost savings from the MOU's.
 
TurnCoat said:
If this contract isn't passed, you will soon be an YRC employee.....go read the Roundtable post....this is the only agreement, they are going to offer, and IT IS BETTER than the YRC work till you die or until your layed-off plan. I assure you, and many former YRC'ers will agree, under no circumstances do you want to be merged with YRC. We better show Ms. McReynolds and Mr. Slagle some love and support when we get our ballots. Now that I've worked both places, I promise you ABF is by far, a superior outfit. If it merges with YRC, you will be forced into their concessions. Again, ABFer's are faced with a dilemma. Vote yes for some concessions, and still remain the highest paid in the industry, or vote no and eventually be merged into a more concessionary agreement. As you have noticed the stocks shooting up, it is easy to see, that wealthy investors, who are out to make a quick buck, could care less about your future, since they are concerned about theirs. Let's get realistic, the market sets your wages, not some union contract, and the best union contracts can be re-opened and gutted, we all saw that happen.
Click to expand...
TurnCoat said:
The Union does not control the finanial market, ABF is a bargain right now, and money is cheap. ABF Teamsters better get a clue and decide where they would rather work. It's a no brainer!
Click to expand...
I do not like it and there is nothing personal but I agree here. The thought of driving that junk and all that goes with is turns my stomach.
 
Rollin62 said:
Correct me if I'm wrong, but wouldn't a bunch of pissed off teamsters stop paying union dues in right to work states, if this transaction happened?
Click to expand...
I will do you one better ,good old yrc driver should strike on the fact Welch can offer to buy but can't pay full wages that's the no brainer Rolland.
 
TurnCoat said:
If this contract isn't passed, you will soon be an YRC employee.....go read the Roundtable post....this is the only agreement, they are going to offer, and IT IS BETTER than the YRC work till you die or until your layed-off plan. I assure you, and many former YRC'ers will agree, under no circumstances do you want to be merged with YRC. We better show Ms. McReynolds and Mr. Slagle some love and support when we get our ballots. Now that I've worked both places, I promise you ABF is by far, a superior outfit. If it merges with YRC, you will be forced into their concessions. Again, ABFer's are faced with a dilemma. Vote yes for some concessions, and still remain the highest paid in the industry, or vote no and eventually be merged into a more concessionary agreement. As you have noticed the stocks shooting up, it is easy to see, that wealthy investors, who are out to make a quick buck, could care less about your future, since they are concerned about theirs. Let's get realistic, the market sets your wages, not some union contract, and the best union contracts can be re-opened and gutted, we all saw that happen.
Click to expand...

This is exactly what I expect out of a yes man. I would rather fight for a good contract and take my chances, the chance of yrc buying ABF is a long shot, and I would not hold my breath. if it was to happen then I will do what I have to, but I guarantee you this I will most likely be voting no if it is not a acceptable contract to me. I am not going to just vote yes because of this. I really hope guys can see what is really happening. The guys that are pushing so hard for a yes vote is the same guys that will vote yes no matter what.
 
Homesick said:
I don’t like being negative and would hate to be a martyr but I would rather see ABF bought by YRC than vote yes to a contract that comes with a ‘race to the bottom’ wage concession. Look at the tentative agreement that UPS Freight is getting; why should we make less than they do? Are ABF employees so much inferior to UPS Freight employees? I say no. ABF’s revenue was up over 18% for the first quarter this year over the first quarter of last year, and last year was a bumper year. ABF’s revenue was over 2 billion. That is a lot of $$$ and last year’s revenue was the highest in the companies history. So, ABF makes more money than ever before and we are scared into taking a pay cut. BRILLIANT!!
Click to expand...

I agree with you 100%. I will be voting no to a bad contract. I am not betting on yrc pulling this off....
 
DCM_Doc said:
It is common knowledge that Hoffa wanted ABF to buy YRC at one time. I don't know how YRC could finance another acquisition.
Click to expand...

The Ridge Sox, popcorn, the Ridge itself, our "outstanding" equipment, our debt, our industry leading claims ratio, etc, etc, etc,
 
TurnCoat said:
If this contract isn't passed, you will soon be an YRC employee.....go read the Roundtable post....this is the only agreement, they are going to offer, and IT IS BETTER than the YRC work till you die or until your layed-off plan. I assure you, and many former YRC'ers will agree, under no circumstances do you want to be merged with YRC. We better show Ms. McReynolds and Mr. Slagle some love and support when we get our ballots. Now that I've worked both places, I promise you ABF is by far, a superior outfit. If it merges with YRC, you will be forced into their concessions. Again, ABFer's are faced with a dilemma. Vote yes for some concessions, and still remain the highest paid in the industry, or vote no and eventually be merged into a more concessionary agreement. As you have noticed the stocks shooting up, it is easy to see, that wealthy investors, who are out to make a quick buck, could care less about your future, since they are concerned about theirs. Let's get realistic, the market sets your wages, not some union contract, and the best union contracts can be re-opened and gutted, we all saw that happen.
Click to expand...

papajohn said:
This is exactly what I expect out of a yes man. I would rather fight for a good contract and take my chances, the chance of yrc buying ABF is a long shot, and I would not hold my breath. if it was to happen then I will do what I have to, but I guarantee you this I will most likely be voting no if it is not a acceptable contract to me. I am not going to just vote yes because of this. I really hope guys can see what is really happening. The guys that are pushing so hard for a yes vote is the same guys that will vote yes no matter what.
Click to expand...

I wish I was as confident as you are. I am no yes man but I am concerned. Do I see the reasons it should not happen? ABSOLUTELY. Do I want to roll the dice? That is the decision I have to make. Either way I'm hoping for the best for us all.
 
ABFer said:
I wish I was as confident as you are. I am no yes man but I am concerned. Do I see the reasons it should not happen? ABSOLUTELY. Do I want to roll the dice? That is the decision I have to make. Either way I'm hoping for the best for us all.
Click to expand...

ABF-er I know you are not a yes man. We all are concerned, but we have something before us right now that is more important, before we start worry about what if will happen. Turncoat has been pushing for concessions since the beginning, so this is just icing on the cake for him. I am not going to worry about what or what is not going to happen I am going to just worry about what I have a vote on.

If this is real then we will have to deal with it. But if this just plays into the company's hands and sways votes for a yes vote, then I would rather keep fighting for a good contract, this is something we will have to live with for 5 years.

IF yrc happens to find a pot of gold and actually pull this off, then we will have to do what we have to do. But till then I am not worrying about what color the truck is.............
 
ziper said:
Mr Welch mite want to read the 5 year give back agreement I no he didn't work at yrc when they signed it, but there is wording in the agreement saying you can't buy another truck line with the money you saved in the agreement and if you do snap backs to full wages and benefits kick in.check it for yourself.
Click to expand...

Yea I thought so. Of course there pack of lawyers at YRC knows they cannot buy ABF till all the givebacks are undone.

Did YRC think no one would call them on that WTF
This smells like some BS
 
You must log in or register to reply here.
Top