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Yellow | Yrcw seeks economic relief from teamsters!

DragBikeMike said:
and again -

simple solution that does not touch the bennies or pensions or the NMFA..


every one of the 58000 YRCW employees gives back a 100 dollar deduction (pretax) every week for 6 months.


By the end of MAY - we would have given YRCW $150,800,000.00

over 150 MILLION dollars to help out.


100 a week is not painful and does not open the contract up.

also

by May the freight is flowing better - and we should be well into any "psychological" changes in the economy with a new president..


Real changes take time - but people get positive econ thoughts in their heads when a new Prez takes over...

and these upbeat thoughts help jumpstart a new economy...
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Are you kidding me. You must be management. What makes you think that this is for only 6 months? We will never get this money back. No company, and I mean no trucking company, none, no where, no way has ever made it after an employee giveback. The company agreed to this contract less than 1 year ago, let them honor it for a change. It's not our fault that this company is in financial problems. Why is it our responsibility to fix it? And yes $100 pretax is a lot of money especially if you only work 40 hours. And what do you think is going to happen after 6 months, Mr. Z is going to say yeah that really helped, heres your money back. I don't think so. Can you imangine what kind of golden parachutes $150,800,000.00 can pay for? Vote NO and let's all get on with our lives. Quit drinking the Kool-Aid.:chairshot:
 
So far I really haven't seen too many of these posts taking into consideration the pay cut we have already taken since the economy has been declining since 2005. I have already taken a 15% pay cut with ten years seniority. Over the last three years. Ive seen a 5% decline each year. With the freight volumes dimishing year after, year. The change in Yellows policy of if we see a snowflake, and your home they shut the lanes down. We can't work most holidays to get premumium, pay they just shut operations down. So its not just the give-backs, We give a wage cut and we will spend week end week out on call, and if you can't work in full capacity we will be taking a greater pay cut.
Now they are asking for a give back. The estimated amount im hearing from reliable sources of 10-15% and $1.00-$2.00 per hour. Basically 1994 wages. Everything im reading is predicting Jan-Feb as the worst months in years as far as freight volumes.
The last artical i read in round about way, sounded like even if we give back wages any additional decline will cause failure of YRCW in general. (Such as the automakers go under) We go under.
Like I said in a previous post, We already have road drivers layed off in KCM They are having trouble finding jobs now. I think where approaching some very serious times in general, As far as saving money, if you don't have it already in the bank. I see no way to start now. Where not going to be able to work to pay our regular bills let alone make additional runs to save. Not only that don't you realize that if YRCW goes down, Its the end of the Teamsters Union, The only thing left would be UPS (which they pulled out of the pension plan) ABF, and the companies under the paper contracts, and the little grocery workers, and individual companies, and police. I doubt that would be enough to sustain the Union. It really doesn't look good.
 
i think what's really important in all this is what is being said off the record between the ibt and yrcw. we all are seeing how fast this integration is taking place now. What we should do is wait and see what Hoffa (like him or not he's OUR president) takes away from these meetings. We need to stand as ONE on whatever ibt recommends. Our power as a great union has been our SOLIDARITY.
Do you think YRC will be the first to go? the company is investing in this integration, millions are being spent on moving terminals together and allocated for severance pay. most probably HOLLAND will be the first to be taken down and auctioned off...i don't have inside information but this would be logical, it may keep the game going awhile longer, maybe long enough for things to turn around. it may be that HOLLAND is in immediate danger of shutdown after the huge 3rd quarter write-down.
 
Like someone else has also said. The talks with the IBT and YRC begun several weeks ago.
At the same time we were being told at the local level that things were OK finacially withYRC.
DO NOT BELIEVE THE RUMORS.
WE were told by the TM that yes it will be rocky for a while until freight and the economy picks up, but we would be OK>
So everyone, YRC IBT included is lieing!
No surprise there.
SO why should we belive that this is going to work.
Again why are we the ones to suffer.
Is Zollers going to suffer?
Is Hoffa going to suffer?
No they are both isolated from any harm.
Do you actually believe Hoffa has the members best interest in mind during all of this?
I doubt it.
He has never been a TEAMSTER.
He makes a huge paycheck out of our dues, has multiple pensions to rely on for his retirement.
We don't.
Zollers, well we don't know what his benifit package looks like.
But I know it is better than mine.
So again f--k them and any idea of giving back!
Stand together like men. If you lack the balls to do that, then borrow some.
Once we give back it is over.
We will never get money back, and we can kiss our jobs good by reguardless of what we do or say.
 
Wow

localdriverwife said:
For everyone comparing this to all the other company failures and closures after a giveback: I believe it is possible this is a different situation. It sounds like a lot of those other companies failed due to total demise of their own destruction. Yes, YRC probably has its own demises and failures as well; however, the severe action is being triggered by the suffering world economy. The economy was not as much a factor for the other companies, their demise was on their own. These are tough times for everyone. Many companies are struggling and the only ones who will survive are the ones who take action now to pull through this struggle until the economy starts turning around again. It may just be helpful to put aside your fear and greed for a bit and see if the plan works. The minute things start getting on track again, this company will be one of the first back on its feet. As far as all of the other mismanagement and wasteful spending in the past, hopefully the current economic situation is providing a wake up call that will put everyone into a different mindset to create better decisions when things turn around again.
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The economy is one of the constants here. Every company has to deal with a bad economy.

So I ask you, why can a company like ABF do well in this economy and YRCW can't? We are under the SAME contract. We use the SAME equipment. The employees are the SAME. The customers are the SAME and on and on.

The management, however are NOT the same.

The management decisions are NOT the same.

Then how can YRCW stock be down 80% for the year when ABF stock is up 34% for the year?

From what I see, the problems ARE management problems and I WILL NOT authorize my pay to fix management problems.

It is not being greedy. It's a matter of principle and fairness.

Now, if I see that management, from GOM on up to CEO, are going to contribute their FAIR share...perhaps my position will soften.

Once again, we do not know any of the terms of this concession, so I would rather wait and see, but don't blame it on the economy.

Additionally, what(besides wishful thinking) makes you think that this horrible management will change the way they operate after we give them concessions? In my view, and I can only go by what I see, they will have more money to waste.

BTW, we all have already given concessions. it's called the NMFA. We all got a letter from Mike Smid asking us to vote for the contract. Smid said in his letter that this contract will give YRCW all the tools it needed to compete and survive...maybe not so much!!!
 
F1Flagger said:
Like someone else has also said. The talks with the IBT and YRC begun several weeks ago.
At the same time we were being told at the local level that things were OK finacially withYRC.
DO NOT BELIEVE THE RUMORS.
WE were told by the TM that yes it will be rocky for a while until freight and the economy picks up, but we would be OK>
So everyone, YRC IBT included is lieing!
No surprise there.
SO why should we belive that this is going to work.
Again why are we the ones to suffer.
Is Zollers going to suffer?
Is Hoffa going to suffer?
No they are both isolated from any harm.
Do you actually believe Hoffa has the members best interest in mind during all of this?
I doubt it.
He has never been a TEAMSTER.
He makes a huge paycheck out of our dues, has multiple pensions to rely on for his retirement.
We don't.
Zollers, well we don't know what his benifit package looks like.
But I know it is better than mine.
So again f--k them and any idea of giving back!
Stand together like men. If you lack the balls to do that, then borrow some.
Once we give back it is over.
We will never get money back, and we can kiss our jobs good by reguardless of what we do or say.
Click to expand...
Hey this post got me thinking. Where does Hoffa pension come from? I realize it will be multiable pensions but if they are all they same funds that ours come from. He's in just as deep chit as us. Anybody know for sure? :shrug:
 
YRC Worldwide Seeks To Modify Teamsters Labor Contract
OVERLAND PARK, Kan., Nov. 28 /PRNewswire-FirstCall/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that its Yellow Transportation, Roadway, Holland and New Penn business units have reached a tentative agreement with the International Brotherhood of Teamsters to modify the current labor agreement for employees covered by the National Master Freight Agreement. Details surrounding the modification are expected to be available next week following further discussions with labor leadership and the affected employees.

Bill Zollars, Chairman, President and CEO of YRC Worldwide, commented, "We have already taken a number of steps to strengthen our financial position and improve both our profitability and our competitiveness, including the continued successful integration of Yellow Transportation and Roadway, the exchange of equity for notes through private transactions, modification of our non-union pension and retirement plans, sales of excess properties and, most recently, the commencement of a $100 million tender offer to purchase outstanding notes. While these efforts have been effective, the worsening macroeconomic crisis in America and the increasingly critical state of our industry mean that we must take additional measures."

Zollars continued, "The industry decline in volumes and pricing is continuing in the current quarter, affecting our profits and cash flow and our ability to pay down debt from operating funds. The modification to the agreement, which we expect to be ratified in December, will establish a more competitive cost structure allowing us to accelerate our market share recovery and capitalize on opportunities for future growth, while at the same time, defending the long-term prospects and job security of our employees."

"Extraordinary times call for extraordinary action," said Mike Smid, President and CEO of YRC North American Transportation. "In that regard, our employees should be proud of the professionalism and seriousness that the Teamsters took on all fronts in their approach in reaching this tentative agreement. We look forward to continuing to work with them to protect the future of our employees and our company. At the end of the day, we have the interests of our employees and our customers in common, and together
This was just post on YRCW website...
 
Wonder if the Yellow book that has'nt been printed yet will be any good or will we have to wait for a new one to be processed? :duh:
 
If you refer back to Dollar Bills comments prior to the NMFA negotiations, he stated that "The contract negotiations with UPS Freight will set the tone for the upcoming NMFA...." Concessions in grave economic times, what a great way to even the playing field without taking a hard line in contract negotiations.....maybe I'm giving him more credit than is due......
 
uncle wiggly said:
If you refer back to Dollar Bills comments prior to the NMFA negotiations, he stated that "The contract negotiations with UPS Freight will set the tone for the upcoming NMFA...." Concessions in grave economic times, what a great way to even the playing field without taking a hard line in contract negotiations.....maybe I'm giving him more credit than is due......
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Have you noticed how the IBT is being very cooperative with YRCW (and ABF waiting in the wings). Just maybe this is actually stage 2 of the contract negotiations. Just maybe the IBT told TMI/YRC that they would never be able to sell us on a UPSF type contract all at once. Maybe that was the deal all along.
 
Kennesaw Kid said:
Uhuh....YRCW has $5 Billion in assests....they put $1.5 Billion (160 terminals and equipment)up to secure the outsatnding loans....Read the 8-K report.....KK
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Dug a little deeper. Founded upon what YRCW filed in November in their form 10-q with the SEC.

Book Value: $2.3 billion
Goodwill & Intangibles portion of Book Value: $2.0 billion
= Tangible Book Value: $0.3 billion

Contingent liability for YRCW's portion of underfunded pension plans (not counted against book value) = $3.5 to $4.5 billion.
 
Bailout

Why don't they ask the government for a bailout, first? The government is handing out money like it's halloween candy, $5 billion for YRCW would be chump change compaired to the money some of these companies are getting for a bailout.

You don't see the big 3 asking there employees for economic relief, they go to uncle sam first.
 
rtm457 said:
Are you kidding me. You must be management. What makes you think that this is for only 6 months? We will never get this money back. No company, and I mean no trucking company, none, no where, no way has ever made it after an employee giveback. The company agreed to this contract less than 1 year ago, let them honor it for a change. It's not our fault that this company is in financial problems. Why is it our responsibility to fix it? And yes $100 pretax is a lot of money especially if you only work 40 hours. And what do you think is going to happen after 6 months, Mr. Z is going to say yeah that really helped, heres your money back. I don't think so. Can you imangine what kind of golden parachutes $150,800,000.00 can pay for? Vote NO and let's all get on with our lives. Quit drinking the Kool-Aid.:chairshot:
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No one ever said we were asking to get the money back...

100 bucks a week is a lot better than not making anything.

If you had been thru the shutdowns I have been thru - you would see the value in my plan.

go ahead and vote "NO" - and get on with YOUR life - (at another company like swift or werner)
 
I am hesitant on purpose

I did not mention anything of UPS Freight contract in my previous posts...but now someone else brought it up and here I am...yes...I believe the UPS Freight contract opened the door for what we are RENeGOTIATING now. Like it or not..here we are.:TR10driving03::popcorn:
 
I have been thinking all day.
It dawned on me no one has brought up the fact that now that it is out in the open that YRC needs relief, and are having major cash flow problems.
What do we think is going to happen to our customer base.
I believe they will leave us likes rats on a sinking ship.
Oh wait, that metaphor is for management.
But you get my drift.
If we think freight levels are bad now,(the worst I have seen in 35 yrs).
What do we think they are going to be like in the coming weeks?
I wouldn't ship with us.
Customers bail on us at the hint of a strike. DO we think they will stick by us now that we have admitted the cash flow problems!
Oh well I just hope members find the courage to say no to this.
But I do not have faith in their courage.
I have seen too much "it's all about me" to believe they will stand up to Zollers !
 
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