ABF | I don't know how you vote yes!

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ArcBest CEO Judy McReynolds’ salary unchanged in 2017, total compensation up 31%
Business
by Jeff Della Rosa ([email protected]) March 26, 2018https://talkbusiness.net/2018/03/ar...ed-in-2017-total-compensation-up-31/#comments
Judy McReynolds, chairman, president and CEO of Fort Smith-based ArcBest Corp., didn’t receive a salary increase in 2017, but her total compensation rose 31.9% to $2.126 million.

On March 22, ArcBest, the parent company of less-than-truckload carrier ABF Freight, filed its proxy statement with the U.S. Securities and Exchange Commission.

McReynolds’ annual salary remained $660,000 in 2017, from 2016. In 2015, her salary was $642,500, but total compensation was $2.261 million.

Timothy Thorne, president of ABF Freight, also didn’t received a salary increase, and it remained $400,000, from 2016. But his total compensation rose 24.6% to $1.064 million.

Jim Ingram, chief operating officer, Asset-Light Logistics for ArcBest, earned a base salary of $355,000 in 2017, flat from 2016. Total compensation increased 21.9% to $935,333.

David Cobb, vice president and chief financial officer for ArcBest, received a 9.2% pay increase to $344,000, from 2016. Total compensation rose 48.6% to $900,090. Cobb was the only executive officer to receive a base salary increase after the company’s compensation committee reviewed market data and performance to determine salary changes. The raise went into effect Jan. 1, 2017, aligning his salary closer to the 50th percentile of his peer group.

Michael Newcity, senior vice president and chief innovation officer for ArcBest and president of company subsidiary ArcBest Technologies Inc., wasn’t an executive officer until 2017 and earned $340,000 that year. Total compensation was $860,993.

In 2017, total compensation for the company’s median employee was $95,518, with McReynolds earning 22.3 times more than that employee, the proxy shows.

SHAREHOLDERS MEETING
ArcBest will host its annual shareholders meeting at 8 a.m., May 1 at the company’s corporate offices at 8401 McClure Drive in Fort Smith, according to the proxy. Shareholders of record as of March 5, 2018, will be entitled to vote on whether to reelect the nine directors of the company for a one-year term.

Following are the directors up for reelection, and the company’s recommended their reappointment: Eduardo Conrado, Stephen Gorman, Michael Hogan, William Legg, Kathleen McElligott, McReynolds, Craig Philip, Steven Spinner and Janice Stipp. There are no family relationships among any of the directors and executive officers of the company, the proxy shows.

As of March 5, shareholders who own more than 5% of the company’s stock are BlackRock Inc. of New York, 3.321 million shares or 12.95%; The Vanguard Group Inc. of Malvern, Pa., 2.332 million shares or 9.09%; Dimensional Fund Advisors LP of Austin, Texas, 2.171 million shares or 8.47%; and JPMorgan Chase & Co. of New York, 1.804 million shares or 7.04%. Combined, the 20 directors and executive officers own 305,236 shares or 1.19%. McReynolds owns the most of the directors and executive officers at 92,579 shares.

Shareholders also will vote on whether to increase the number of shares the company can issue as part of its compensation program. The change would increase the number of shares by 250,000, from 3.1 million to 3.35 million. Under the company’s existing 2005 plan, a total of 1.563 million shares have been issued as of Feb. 22, 2018.
 
Guys vote "yes" because they don't want to bother themselves with facts.....Makes their head hurt....

They will listen to the whisperings of their..."buddy"....the TM or dispatcher.....

They will only consider their own prospects for the future,.....and will not look at the long-term damage to Labor rights, pensions, work rules, and the viability of the contract. Eventually, the "chickens come home to roost",.........and their voting with a deliberate lack of information,........results in their OWN loss of pension,......and gutting of contractual rights...and maybe their job.....

These are the guys you see in truckstop coffee counters, talking about how the "Union screwed me..."

And now they're working for some ratball, low-wage, 401(k), employment-at-will carrier,..........where each day they must drag their manhood in the dirt, and kiss the dispatcher's butt,....to make a living wage.....

I hope the release of CEO pay information finally riles up some of these guys. It's not so much the big terminals that have an information lack......It's the small terminals,....where a TM can form a....."personal"....relation to their employees,......and pump in as much company propaganda as their heads could hold.......

Road drivers should equip themselves with information handouts to drop off at the smaller EOL terminals,........to counter company propaganda....
 
Just remember Ernie's motto... "It's not what ArcBest can do for you... it's what you can do for ArcBest!!!".
 
Speaking of yes voters... are there any members that have decided to vote yes... and if there are... would you mind sharing your reasons for doing so? After all... that's nothing to be ashamed of... right?
 
I am a 462 driver. I am torn on voting yes or no. I'm 38 years old with 13 years at abf. The pension plan in my opinion probably won't be there for me, so 6 dollars an hour into my 401k sounds pretty good. That would add up alot over the next 25 years.

I wish we were getting bigger raises then what they have proposed .I think we should get a bigger raises the first year.

I would also like my vaxvacat back right away.

I know I will probably get torn apart for these comments, but it how I feel .

I also meat one of u at the Cleveland terminal? I can't remember what he said his name was on here.

Be safe out there!
 
I am a 462 driver. I am torn on voting yes or no. I'm 38 years old with 13 years at abf. The pension plan in my opinion probably won't be there for me, so 6 dollars an hour into my 401k sounds pretty good. That would add up alot over the next 25 years.

I wish we were getting bigger raises then what they have proposed .I think we should get a bigger raises the first year.

I would also like my vaxvacat back right away.

I know I will probably get torn apart for these comments, but it how I feel .

I also meat one of u at the Cleveland terminal? I can't remember what he said his name was on here.

Be safe out there!

No one will tear you apart, Brother. You’ve stated fairly how you feel, and I think everyone here will respect that.

But, be ready for some good, logical arguments for voting “No”.
 
I am a 462 driver. I am torn on voting yes or no. I'm 38 years old with 13 years at abf. The pension plan in my opinion probably won't be there for me, so 6 dollars an hour into my 401k sounds pretty good. That would add up alot over the next 25 years.

I wish we were getting bigger raises then what they have proposed .I think we should get a bigger raises the first year.

I would also like my vaxvacat back right away.

I know I will probably get torn apart for these comments, but it how I feel .

I also meat one of u at the Cleveland terminal? I can't remember what he said his name was on here.

Be safe out there!
38 years old with 13 in the pension, so you need 17 more for a early retirement making you 55 depending on your plans minimum age. We are at 57. Well if this passes we all will be 64 and in short order somewhere between 65 and full social security age. Don't know how much you've been paying attention but pension reform is coming. It's still a bit away with the Teamsters and Government both looking at each other saying "what are you going to do?" The Teamsters tried to reduce your pension once and the Feds so no! If you read Sean O'Briens letters ABF was offered several times to transition to the new liability pool with ABF not even answering. With a no vote I have to believe that's their next move. The biggest step next is to have YRC increase their contributions. Maybe a 50%-75% -100% over the first 3 years. A lot of brothers over there begging to retire and I know how they feel once again. Go to TDU's site Nov 20 2017 and you'll find CSPF is doing better than ABF is letting on as is New England...economy is great right now and for at least 4 more years. The 2025 insolvency was based on the projected loss ratio. Right now they are gaining. There are 2 pdf files below ABF and the International doesn't want you to read Go to TDU Nov20 2017 or just Google CSPF and you'll come across them. Information and education will lead you to the decision for what's right for you... not blind faith in either ABF or the International

CENTRAL STATES HEALTH AND WELFARE FUND
FINANCIAL AND ANALYTICAL INFORMATION and INDEPENDENT SPECIAL COUNSEL REPORT
 
38 years old with 13 in the pension, so you need 17 more for a early retirement making you 55 depending on your plans minimum age. We are at 57. Well if this passes we all will be 64 and in short order somewhere between 65 and full social security age. Don't know how much you've been paying attention but pension reform is coming. It's still a bit away with the Teamsters and Government both looking at each other saying "what are you going to do?" The Teamsters tried to reduce your pension once and the Feds so no! If you read Sean O'Briens letters ABF was offered several times to transition to the new liability pool with ABF not even answering. With a no vote I have to believe that's their next move. The biggest step next is to have YRC increase their contributions. Maybe a 50%-75% -100% over the first 3 years. A lot of brothers over there begging to retire and I know how they feel once again. Go to TDU's site Nov 20 2017 and you'll find CSPF is doing better than ABF is letting on as is New England...economy is great right now and for at least 4 more years. The 2025 insolvency was based on the projected loss ratio. Right now they are gaining. There are 2 pdf files below ABF and the International doesn't want you to read Go to TDU Nov20 2017 or just Google CSPF and you'll come across them. Information and education will lead you to the decision for what's right for you... not blind faith in either ABF or the International

CENTRAL STATES HEALTH AND WELFARE FUND
FINANCIAL AND ANALYTICAL INFORMATION and INDEPENDENT SPECIAL COUNSEL REPORT
That's why some guy's will vote yes
 
That's why some guy's will vote yes
It was designed that way. For at least the last 14 years ABF has tried hard not to hire Teamsters who lost there job through bankruptcies etc. Occasionally out of desperation they'll hire one. They knew this day was coming. Most of our newer employees know nothing of the history of negotiations, contracts, Teamster Strikes. ABF is surely counting on blind faith and if you haven't been through this before it really wears on you. It wears on all of us. Those two horses on your chest or your hat don't just represent you are Union or you have great benefits, they also represent the men and women before you who laid it all on the line....months with no pay ... injury and sometimes even death. They were through be pushed over. We've done well for some time but corporate America game-planned well and has slowly been taking back our gains with the help of a long-time inept national leadership. Too many suits wearing their "Fat Pants" that we paid for with sweat, blood and earnings. There is a window here for a small win. For you Brothers who have 15-20-30 years to go a no vote sets up not only another offer now but also their strategy in 2023. Will you make it easy for them?
 
I am a 462 driver. I am torn on voting yes or no. I'm 38 years old with 13 years at abf. The pension plan in my opinion probably won't be there for me, so 6 dollars an hour into my 401k sounds pretty good. That would add up alot over the next 25 years.

I wish we were getting bigger raises then what they have proposed .I think we should get a bigger raises the first year.

I would also like my vaxvacat back right away.

I know I will probably get torn apart for these comments, but it how I feel .

I also meat one of u at the Cleveland terminal? I can't remember what he said his name was on here.

Be safe out there!

Thanks for your sincere reply trucker1979... that's all we ask. Every older Teamster can relate to what you are saying... not like those company kiss measters and trolls that you see posting one liners from time to time like rollin62.

As for you being 38 years old with 13 years at abf and thinking that the pension plan probably won't be there for you... that's also understandable seeing how everyone's been on a mission of undermining the multiemployer pensions for decades now. IMO... that's what they will be hoping for and counting on with the younger generation... that feeling of hopelessness when it comes to that pension not being there. After all... the CSPF would already be seeing cuts to their pensions if it weren't for the relentless...ongoing... unwavering... retiree's fight. That's what all of us were taught since day one... always having to fight just to keep what we got because they will always be coming to take it away. Somewhere and somehow along the line... they have some that now just think of us as greedy just for wanting to fight to keep what we have earned and deserve.

If you think about that no pension increases over the life of the contract for a minute... ask yourself... why do they have us voting on that. After all... they changed the language last contract from "a dollar" to "up to a dollar"... which would of covered that no pension increases without even having to bring the issue up this contract. I don't know about you but that sends up a red flag as far as I'm concerned... just what are they planning to do in the near future that involves it being put to a vote... in the master agreement yet... of all places.

You have to also remember... this was not the company's last and final offer. IMO... you can bet that they have a "Plan B" already to go if this first one is turned down... just like they did in 2013... but to even their surprise... didn't need. I really do believe that vacation was just waiting for everyone if it was turned down. Why didn't our negotiating team hold out for their last and final offer? Did they think it was best to just take that offer and run before they lost even more for the members... was it that they just considered themselves lucky they were able to get that... did they just decide to settle on that because they were tired of negotiating... or did they still owe them something yet for dropping that lawsuit after the last contract? After all... that last contract accounted for only half of that $750 million lawsuit.

IMO... this whole agreement is an insult and a big slap in the face from the frozen pension increases.... measly wages that are themselves below standard... 1 for 2 red circle BS... vacation delay... the added language to ARTICLE 7. LOCAL AND AREA GRIEVANCE MACHINERY along with ARTICLE 32. SUBCONTRACTING... Section 5... Utilizing third parties for final mile deliveries of special freight... and a few others that are detailed in some supplements. Especially seeing how we are coming out of a major concessionary contract that most of us now realize wasn't needed in the first place. I know that's water over the bridge now... but that doesn't mean we shouldn't forget. I would hope that the newer members would at the very least look upon that as an expensive learning experience.
 
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Thanks for your sincere reply trucker1979... that's all we ask. Every older Teamster can relate to what you are saying... not like those company kiss measters and trolls that you see posting one liners from time to time like rollin62.

As for you being 38 years old with 13 years at abf and thinking that the pension plan probably won't be there for you... that's also understandable seeing how everyone's been on a mission of undermining the multiemployer pensions for decades now. IMO... that's what they will be hoping for and counting on with the younger generation... that feeling of hopelessness when it comes to that pension not being there. After all... the CSPF would already be seeing cuts to their pensions if it weren't for the relentless...ongoing... unwavering... retiree's fight. That's what all of us were taught since day one... always having to fight just to keep what we got because they will always be coming to take it away. Somewhere and somehow along the line... they have some that now just think of us as greedy just for wanting to fight to keep what we have earned and deserve.

If you think about that no pension increases over the life of the contract for a minute... ask yourself... why do they have us voting on that. After all... they changed the language last contract from "a dollar" to "up to a dollar"... which would of covered that no pension increases without even having to bring the issue up this contract. I don't know about you but that sends up a red flag as far as I'm concerned... just what are they planning to do in the near future that involves it being put to a vote... in the master agreement yet... of all places.

You have to also remember... this was not the company's last and final offer. IMO... you can bet that they have a "Plan B" already to go if this first one is turned down... just like they did in 2013... but to even their surprise... didn't need. I really do believe that vacation was just waiting for everyone if it was turned down. Why didn't our negotiating team hold out for their last and final offer? Did they think it was best to just take that offer and run before they lost even more for the members... was it that they just considered themselves lucky they were able to get that... did they just decide to settle on that because they were tired of negotiating... or did they still owe them something yet for dropping that lawsuit after the last contract? After all... that last contract accounted for only half of that $750 million lawsuit.

IMO... this whole agreement is an insult and a big slap in the face from the frozen pension increases.... measly wages that are themselves below standard... 1 for 2 red circle BS... vacation delay... the added language to ARTICLE 7. LOCAL AND AREA GRIEVANCE MACHINERY along with ARTICLE 32. SUBCONTRACTING... Section 5... Utilizing third parties for final mile deliveries of special freight... and a few others that are detailed in some supplements. Especially seeing how we are coming out of a major concessionary contract that most of us now realize wasn't needed in the first place. I know that's water over the bridge now... but that doesn't mean we shouldn't forget. I would hope that the newer members would at the very least look upon that as an expensive learning experience.
 
Thanks for all the great feedback. It was alot of great information . I read alot of posts on truckingboards I just usually don't say much. Keep up the good work with the information. Thanks

And thanks for taking the time to read and get all the information available before making your decision. After all... that's all anyone of us can ask for.
 
GM , I have 19 years in a pension plan which I will be thrown out of because of the frozen ABF contributions, so the 1 thing I have learned is that you can’t count on anything until you actually receive it. My plan of retiring in 6 years are gone if this contract passes. That being said, when doing your calculations, only count on that $6.00 per hour to your 401Kfor the next 5 years. Nowhere does it say that is forever and you can bet your bottom dollar that will be changed next contract. Thanks for your open mind and good luck.
 
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