Yellow | YRCW....What Lies Ahead

Thanks KK. I took the time to read the whole thing and I have to say that it reinforces much of what I already believed. YRC senior management is not entirely trusted by Wall St. and that contributes to the tone of the report. We all have a tough road ahead. S.N.'s comments about the departure of Bruffet were restrained. I'm sure that they wanted to say more about this but wanted to stay objective.
 
Thanks. Great read. Things really look bad from that report. Hopefully they learned something from USF merger. Time will tell. After thinking it over maybe being laidoff is not such a bad thing. At least I could work full time somewhere else.
 
Read and weep what is says on page 10-11 about Central States. I'm waiting for the letter from them just like 5 years ago after they "lost" all kinds of money in the stock market. De Javeu? This is the truth. Bet Jimmy and Tyson chicken get their full pensions though.
Think about it, if there's 15-25K less members paying into a system that's already broke, how long will they be able to pay 3K a month?
I'm not into denial. I'm not some financial whiz but the facts are pretty clear.
How much did CS lose in the recent downturn?
Back in 03 when they claimed poverty because of the stock market downturn they reduced coverage. My funds lost a lot less then theirs back then.
I just looked at my funds and they are now down -21%.
Not looking real good.
Expect a Dear John letter from CS very soon.
 
The last line says it all
WEDNESDAY, Oct. 1, 2008, 11:36 a.m. By Don Walker Teamsters: 38 workers lost their jobs
A top Teamsters official said this morning that 38 members of the union are out of work because Waste Management replaced them during the strike of trash haulers.
Tom Benvenuto, business agent for Local 200 of the Teamsters, confirmed this morning that 38 workers are currently jobless.
"It's a raw deal," Benvenuto said.
Striking trash haulers walked off the job on Aug. 26, but voted on Sunday to accept a new, five-year contract dating back to April 30.
Lynn Morgan, a Waste Management spokesman, would not confirm how many Teamsters are out of work, but did say they were replaced by workers who were hired by the company as permanent replacement workers.
"While the majority of employees are returning to work this week, unfortunately some will have to wait because their former jobs have been filled by permanent replacement workers," Morgan said in a statement.
"Those who have been replaced are still employees and are on a preferential waiting list for available openings."
Benvenuto said the workers were eligible for unemployment compensation.
The contract the workers accepted included wage and benefit increases. Union members also will be put into a new 401(k) fund, and will pull out of the financially troubled Central States Pension Fund.
 
The last line says it all
WEDNESDAY, Oct. 1, 2008, 11:36 a.m. By Don Walker Teamsters: 38 workers lost their jobs
A top Teamsters official said this morning that 38 members of the union are out of work because Waste Management replaced them during the strike of trash haulers.
Tom Benvenuto, business agent for Local 200 of the Teamsters, confirmed this morning that 38 workers are currently jobless.
"It's a raw deal," Benvenuto said.
Striking trash haulers walked off the job on Aug. 26, but voted on Sunday to accept a new, five-year contract dating back to April 30.
Lynn Morgan, a Waste Management spokesman, would not confirm how many Teamsters are out of work, but did say they were replaced by workers who were hired by the company as permanent replacement workers.
"While the majority of employees are returning to work this week, unfortunately some will have to wait because their former jobs have been filled by permanent replacement workers," Morgan said in a statement.
"Those who have been replaced are still employees and are on a preferential waiting list for available openings."
Benvenuto said the workers were eligible for unemployment compensation.
The contract the workers accepted included wage and benefit increases. Union members also will be put into a new 401(k) fund, and will pull out of the financially troubled Central States Pension Fund.
Even the garbage haulers are getting out of the dumpster!!!
 
Good Luck To All
We have been LIED to for a long time.
KK delivers a full plate on this one. Even though the truth hurts this makes me sick.
 
Good Luck To All
We have been LIED to for a long time.

Lying is viewed as a business skill in todays business world. When we go home its lying, but when at work, its a skill/art form... :shades:

lying_game.jpg
 
If you get a chance check out ZeitGeist.com, download the movie, towards the end it discusses economics, and what's going on now.
 
My slow dial up down loaded the Saddam Hanging video. A 45 second video took over an hour to down load. So I quit down loading.....
 
My slow dial up down loaded the Saddam Hanging video. A 45 second video took over an hour to down load. So I quit down loading.....
I think I would be swinging from a rope before I got the pleasure of watching that video. Time to ante up for the 21st century there Jimmy!!!!!!:beerchug:
 
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