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YRCW Board Member Picked By Teamsters Gets "Christmas Bonus"!

Discussion in 'YRC Freight' started by Freightmaster1, Nov 9, 2017.

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  1. Freightmaster1

    Freightmaster1 Well-Known Member

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    Freightmaster1, Nov 9, 2017
    #1
  2. ABFer

    ABFer Well-Known Member

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    And yet there's no money for the sheep! :ranting2:
     
    ABFer, Nov 9, 2017
    #2
    wongway and holland68 like this.
  3. 6PakAbs

    6PakAbs Well-Known Member

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    can't wait to see what ole Judy gets!
     
    6PakAbs, Nov 9, 2017
    #3
  4. mysticobra

    mysticobra Just here.

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    Is this kinda like regifting?
    :17142:
     
    mysticobra, Nov 9, 2017
    #4
    Bart likes this.
  5. Triplex

    Triplex Experienced stalker

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    He sold some shares he already owned. What's the problem?
     
    Triplex, Nov 9, 2017
    #5
    albag likes this.
  6. mysticobra

    mysticobra Just here.

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    No problem.
    :19:
     
    mysticobra, Nov 9, 2017
    #6
    holland68 and ABFer like this.
  7. mallard

    mallard Any thing less then what we gave up , vote No!!

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    I ask If YRC is so broke how can they keep giving away shears to board members and upper management. I’m sure the CEO and CFO will turn some in themselves any day now usually on a Friday . ‘Tis the season to break even, Across the board at YRC.
     
    mallard, Nov 9, 2017
    #7
    wongway likes this.
  8. Triplex

    Triplex Experienced stalker

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    Mallard, did you read the SEC document mentioned in the first post? It said nothing about him getting shares from YRC. The document only indicates that he sold shares he already owned.
     
    Triplex, Nov 9, 2017
    #8
  9. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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    He was GIVEN shares at NO COST when he got on the BoD.
     
    Kennesaw Kid, Nov 9, 2017
    #9
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  10. Triplex

    Triplex Experienced stalker

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    Every one of the 9 non-management directors gets compensated with cash and shares for serving as board members, just like at any other corporation. The particular SEC document mentioned in the first post showed that he SOLD some of his owned shares. Like I said before, what's the big deal. It's really pathetic to see what kind of nonsense is being brought up to make out like something unusual is happening.
     
    Triplex, Nov 9, 2017
    #10
    holland68 likes this.
  11. mallard

    mallard Any thing less then what we gave up , vote No!!

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    But any other corporations are not in debt up to te ear lobes.
     
    mallard, Nov 9, 2017
    #11
    Kennesaw Kid likes this.
  12. Triplex

    Triplex Experienced stalker

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    Does a doctor only get paid if the patient survives?
     
    Triplex, Nov 9, 2017
    #12
    holland68 likes this.
  13. vongrimmenstein

    vongrimmenstein Well-Known Member

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    But, did he have to give back any of it so he could get the bonus. I mean, it really is the cost of doing business. Right? von.
     
    vongrimmenstein, Nov 9, 2017
    #13
  14. wongway

    wongway -15% Pay , Never forget

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    And they didn't even take out -15% of it ?? Beings we picked him he should have to give back -15% of it to have so called save yrcw too , right ?? and so here again this is why the sheep get poorer ! [​IMG]
     
    wongway, Nov 9, 2017
    #14
  15. Elwood

    Elwood Question Authority

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    That image is one of your poorer choices. :17113:
     
    Elwood, Nov 9, 2017
    #15
  16. wongway

    wongway -15% Pay , Never forget

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    ok, then how about this one ? licking there chops after taking our -15% !!!!!! and giving it back in Bonus to management !![​IMG]
     
    wongway, Nov 9, 2017
    #16
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  17. Freightmaster1

    Freightmaster1 Well-Known Member

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    Teamsters pick Davidson to join YRC Worldwide board
    William B. Cassidy, Senior Editor | Jul 14, 2014 11:58AM EDT


    William R. Davidson, a veteran Teamsters labor relations official with decades of hands-on less-than-truckload experience, will join the YRC Worldwide board of directors.

    Davidson, who began his career as a dockworker at ABF Freight System, will replace Harry Wilson, the Teamsters-nominated director who left the YRC Worldwide board in March after helping the company complete a series of financial transactions that reduced long-term debt and secured a new five-year Teamsters labor agreement.

    Unlike Wilson, whose experience was primarily in finance, Davidson comes with a background in trucking that could help YRC as it works to improve operations and customer service.

    “Mr. Davidson has nearly four decades of experience in various operational and labor relations capacities with ABF, Roadway and YRCW,” the Teamsters union said in a statement.

    Davidson joins YRC Worldwide as the $4.9 billion company’s biggest subsidiary, YRC Freight, plans a limited expansion of operations after several years of losses and contraction.

    The company last month asked the Teamsters to approve changes to the YRC Freight LTL network that would expand certain terminals to better handle “significant business growth.”

    The carrier wants the Teamsters union to approve a change of operations that would turn three existing terminals into distribution centers, YRC said in a June 17 letter to the Teamsters.

    YRC Freight struggled with restructuring last year, slipping back into the red after a poorly handled change of operations that closed 29 terminals and three distribution centers.

    Since then, CEO James Welch and new YRC Freight President Darren Hawkins have emphasized improving performance across the company and customer service.

    Under the 2011 YRC Worldwide restructuring agreement, the Teamsters union is allowed to nominate up to two individuals to serve as “independent directors” on the YRC board.
    ***************************************************************************************************
    As a director, Davidson will receive a $75,000 a year cash retainer and company stock.
    ***************************************************************************************************
    The other Teamsters-nominated director on the YRC Worldwide board is Douglas A. Carty, chairman and co-founder of Canadian school bus company Switzer-Carty Transportation.

    Contact William B. Cassidy at wcassidy@joc.com and follow him on Twitter: @wbcassidy_joc.

    Not too shabby for 4 meetings a year?!
    :19:
     
    Last edited: Nov 10, 2017
    Freightmaster1, Nov 10, 2017
    #17
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  18. Bart

    Bart Well-Known Member

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    I guess that would depend on the doctor getting paid upfront in case the patient doesn't survive:hide:


    :hilarious:
     
    Bart, Nov 10, 2017
    #18
  19. vongrimmenstein

    vongrimmenstein Well-Known Member

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    Better. von. But where the sam hell is the barber?
     
    vongrimmenstein, Nov 10, 2017
    #19
    wongway likes this.
  20. Keepingon

    Keepingon Well-Known Member

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    Board Members get compensated at every corporation but the question here is should someone appointed by the Teamsters to observe what’s going on at that level to ensure the corporation is upholding what it agreed to with the Union be compensated by that corporation ? Remember he’s not there to make operational decisions he’s there on the Unions behalf. Wouldn’t we all feel better about it if his compensation came from the Union ?
     
    Keepingon, Nov 10, 2017
    #20
    Toby, vongrimmenstein and Kennesaw Kid like this.
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