YRCW Teamsters ratify current concession package

Discussion in 'Fedex Freight' started by Twice Pipes, Oct 30, 2010.

  1. Twice Pipes

    Twice Pipes Well-Known Member

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    By a margin of 62 to 37 percent the YRCW Teamsters ratified the current concession package. What amazed me is only 67 percent of the eligible Teamsters took the time to vote. The no voters did a lot of saber rattling, but in the end the membership decided to save 25000 jobs. By no means does this concession package put YRCW on solid ground. They still face an up hill battle to survive. The third quarter report is estimated to be a loss between 18-22 million dollars. In June 1, 2011 YRCW will have to start contributing 25% to the pension plan which is estimated to be 350 million dollars a year. TP
     
  2. purple_beer

    purple_beer Member

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    Thanks for the info. I am amazed that YRC still continues to hang on and stay in business somehow.
     
  3. LostInSpace

    LostInSpace Member

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    I bet that's the same thing a lot of people at the "puzzle palace" in Memphis are saying! I think they called it 'operation greenlight' chasing the demise of YRC.

    While I really feel for the folks at YRC having to make these tough decisions, I'm glad that the FedEx group never "asked" FedEx hourly employees to take wage concessions or pension-deferrals. As for the temporary end to 401K matching, I read that was a widespread action both within and outside the ltl industry.

    Just saying...
     
  4. HILLBILLY

    HILLBILLY Well-Known Member

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    The sad thing is even with this vote more of them will be put out of work with a coo. Only those with 25 yrs plus will be working.
     
  5. HARLEY

    HARLEY Member

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    how do you know that are you sure where is your proof
     
  6. Cody

    Cody Member

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    I think you intended to say.
    How do you know that? Are you sure? Where is your proof?
     
  7. River17

    River17 Member

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    And not a word about Reddaway and how they voted.
    Sounds to me like they will want to eventually do the same Mega Merger like Freight and National LTL is doing now.
    Their customers will demand it.

    :shift::shift::shift:
     
  8. train

    train Member

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    "The Rumor Of My Demise Has Been Greatly Exaggerated" Mark Twain. If only this holds true for YRC drivers
     
  9. Kings disciple

    Kings disciple Ecc. 12:13

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    With the economy the way it is and the lingering over capacity in LTL trucking I can't blame those guys for voting yes.
    I mean shoot, ya got the holidays right around the corner so why take a chance of voting yourself out of a job right now?

    But on the other hand, it would have been pretty interesting if they had called YRCWs hand to see if they were getting bluffed or not.
    I know YRCW really is in money trouble, but I would have liked to see if the company could have saved it another way instead of reaching into the drivers pockets a third time.

    I've followed the debate in the YRC forum a little, and both sides have a good argument. The only part of it that's bad is the guys already retired telling the NO voters how stupid they are and attacking them when all they care about is their self and the pension surviving. It's understandable to want the pension fund to survive, but the folks still working are still entitled to vote the way they see fit without being attacked and called ignorant by the retirees.
    It's the ones still working that have to work under the new rules and they're the ones that are going to have to work for a very long time without good retirement contributions.

    I think River17 is probably right, there's probably going to be a big merge over there to satisfy the customers and streamline operations.
    Man, if that does happen you talk about the fur flying between companies! Mercy! The merge we just had will be tame compared to that.
    There's a lot of bad blood between the companies that were bought out and Yellow.

    It's been a wild deal over there for sure. I've been out here a long time and It's still strange not seeing the old Big R blue nosed diesel car brand anymore.
    I thought they'd be around forever. But that's the way this biz is I reckon.
     
    Last edited by a moderator: Oct 31, 2010
  10. River17

    River17 Member

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    Kings desciple :clapping:

    Actually Roadway is still around. It is called FedEx Freight now.

    It is just the Roadway non-union side that survives now and is still growing to be the
    #1 LTL in the country. Unfortunately not with the same work rules and culture that the Roadway Regional Group used so well for so many years.
    I think they planned it that way all along.

    :guiness::guiness::guiness:
     
  11. Kings disciple

    Kings disciple Ecc. 12:13

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    I tend to agree with you on that. But ya know I'm still making miles at a premium rate so it's all good.
    I ain't missed a meal yet!
     
  12. Mike Varnco

    Mike Varnco Capitalist

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    Those were all under a holding company called Roadway Systems.
    Roadway Express was a sister company of RPS, Roberts Express, and Viking Freight.
     
  13. DOTFXF

    DOTFXF Active Member

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    Don't forget Coles Express in the northeast and Central in the southwest.
     
  14. Pinball

    Pinball Member

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    What, are you drunk?
     
  15. River17

    River17 Member

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    Not Drunk. I've been there done that.

    Here is just part of the Roadway history:

    After the initial shock of deregulation settled, Roadway embarked on a campaign of acquisition and new services. In 1982 a holding company, Roadway Services, Inc., was set up with Roadway Express as its chief operating subsidiary. In 1984 Roadway Services acquired Spartan Express, Inc.; Nationwide Carriers, Inc.; and Roberts Express, Inc. Spartan Express, Roadway's first acquisition, operated as a short-haul carrier in the South. Unlike Roadway Express, Spartan handled shipments with 24- and 48-hour service requirements. Nationwide Carriers specialized in irregular route truckload shipments throughout the continental United States. Nationwide hauled dry freight, temperature-controlled freight, and freight requiring flatbed transport. Roberts Express specialized in critical or fragile shipments needing special handling or speedy delivery.
    Roadway Services, meanwhile, continued to seek LTL carriers that would complement its existing geographic coverage. In 1988 Roadway acquired Viking Freight, the largest regional carrier in the western United States. Viking had two operating subsidiaries: Viking Freight System, a regional LTL carrier, and VFS Transportation, an irregular-route truckload carrier. Viking was almost alone among carriers in being nonunion.

    As Roadway Services entered the 1990s, its various units showed mixed results, although as a whole the company continued to expand. Roadway Express increased revenues and profits. Spartan Express was divided into two geographic divisions in 1988 but remained unprofitable; in 1990 it became a subsidiary of Viking Freight. Roberts Express's growth was good, but less than expected. RPS and Viking Freight both performed well, but the latter's VFS Transportation subsidiary did not, and was closed down in 1990. The surface transportation industry was in for some turmoil, as railroads promised to fight for their space, and as air transport became more competitive. Roadway had dropped its image as a stodgy company, and no longer hesitated to step into the public eye as had been characteristic of the company from its founding through the 1970s. The change at Roadway Services was characteristic of the industry as a whole, illustrated by the fact that in 1991 the Dow Jones transportation averages added Roadway Services as one of the key indicators of the industry's overall performance.

    Roadway Express differed from the newer companies that had come under the wing of Roadway Systems in that it was unionized. The Teamsters Union had negotiated salaries and benefits for their workers that were up to 30 percent more than nonunion companies were paying. In 1994 the Teamsters called a strike at Roadway Express that lasted for 24 days. The union was trying to resolve issues of job security and the use of part-time labor. The strike put the Roadway Express in the red for $68 million for that quarter, and the company felt the effects for at least the next year.


    When Roadway Systems announced in August 1995 that it was spinning off its principal subsidiary, analysts suspected that the company was trying to ditch its unprofitable unionized member. Roadway Systems changed its name to Caliber System, Inc., and moved out of the old Akron headquarters. Its components were then Roadway Package System, its small-package carrier; Roadway Global Air, its air and freight package carrier; and a group of small nonunion regional carriers, including Roberts Express and Viking Freight. Roadway Express was spun off as a debt-free company with its own stock listed on NASDAQ. Its revenues at the time of the spinoff were approximately $2.2 billion, and it served around 500,000 customers worldwide.

    YRC Worldwide: Information from Answers.com

    :guiness::guiness::guiness:
     
  16. iamthewerewolf

    iamthewerewolf Member

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    Oh I see, YRCW is a benevolent company who never in its history employed tactics designed to destroy their competitors. Always standing with open arms to welcome a new company. Just a lovable bunch of aw shucks guys who would never think of anything so evil as operation green light or whatever it was called. You guys just amaze me, crying foul now...Where were you twenty years ago when a young upstart company from Arkansas wanted a small piece of the action? Oh that's right, you were extending a great big warm friendship hug. Pfft...
     
  17. LostInSpace

    LostInSpace Member

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    Not sure where in my post I was crying foul- quite the contrary- at least I thought.

    Also not sure where I was at 20 years ago.. no wait, I just remembered.. I was working for USF Dugan- who was purchased by YRC about 6 years ago who subsubsequently decided to close us down.
     
  18. Kings disciple

    Kings disciple Ecc. 12:13

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    I couldn't understand why he was flaming on you either.
    He must've completely misunderstood your post.
     
  19. loud mouth

    loud mouth Member

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    keep on letting them get away it guys!
     
  20. Ice Rider

    Ice Rider Well-Known Member

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    We at Reddaway are not on NMFA so we did not vote on these concessions.
     

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