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ABF | Abf Or No?

ABF or Tanker

  • Total voters
    12
dokman said:
Let’s see if I can figure this out, 1 active paying in for every 4 retired. Even at full rate there is no way that the fund will survive. So explain to us where we got to vote on pension, turn down contract, lose even more customer, then lose more employees paying in to the fund. That sounds like a good idea to me. People said that if you invested in 401 k that Teamsters would take your money and use that against us in contract negotiations quoting what employees have saved to try and sell 401 k verses pension.
Just wait boys and girls there is another company fixing to get out of the fund.
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Maybe the 5 givebacks that the yrc companies needed to survive, & it was voted in by the members. Then the huge bonus were given out after each giveback vote. Some of us who have cdl’s have moved on with different companies after the mess at yrc to sacrifice for their family over seniority.,.,
 
Homesick said:
The beloved drag line, I'm so glad I will never have to pull another cart off it. I hope to never see the track again. After 35 years I think I have finally stopped having post traumatic flashbacks from just thinking about working at a dock with a drag line.
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Ryder had one in 55 in Charlotte, think they worked on it more than they used it.
 
00mustang said:
Yep the pump out front of the shop was gas , all the diesel pumps were inside the safetylanes at the far end of the shop away from the dock
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vJSeE06.jpg

I can settle this, pumps are right where they always were in Cherrytown!
 
GO40 said:
You voted your pension away, so I hope your personal investments do well....
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For your information I had no vote on the "giving the pension away" issue and all my pension time occurred well before the vote you mention. And yes, as I've stated, my investments have done reasonably well.
 
Ted Decker trk said:
Heading to Myrtle Beach for vacation next summer hopefully . Going to take the wife and kids through Cherryville and check out the museum if it's still there.
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I think they tore down the old terminal but the museum was there , Sea was just thru there so it must be there yet
 
Triplex said:
For your information I had no vote on the "giving the pension away" issue and all my pension time occurred well before the vote you mention. And yes, as I've stated, my investments have done reasonably well.
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Well,...That's great that your private investments have done well.......just imagine how much better they would've done if Wall Street didn't ....manufacture...a few "market adjustments".....based on demographics and whims....

I certainly don't wish anyone ill, trying to set up their retirement......

But the point I was trying to make,...is that the "average investor" in a 401(k).......has no clue how the market works......
.....And you think Wall Street, and the investment firms,...aren't aware of that fact?
Next thing you know,...you'll be defending Wall Street for their......."honesty"...........

Obviously,....you're an above-average private investor....That's great.....Is your neighbor? Your co-worker? Are you providing free investment advice so that your immediate circle of acquaintenances can do just as well?

Defined-benefit pensions were created to........."democratize"....the retirement procedure. I think you will agree retirement,.....especially in a Labor-intensive job like ours,.......is NOT a Game to see who has the most,....and who lives on dog food until they die.......


dokman said:
Let’s see if I can figure this out, 1 active paying in for every 4 retired. Even at full rate there is no way that the fund will survive. So explain to us where we got to vote on pension, turn down contract, lose even more customer, then lose more employees paying in to the fund. That sounds like a good idea to me. People said that if you invested in 401 k that Teamsters would take your money and use that against us in contract negotiations quoting what employees have saved to try and sell 401 k verses pension.
Just wait boys and girls there is another company fixing to get out of the fund.
Click to expand...

Demographics , Brother,....as mentioned above. Those 4 retirees already had at least 30 years of contributions,...from starting at 30 years ago,....paid into those funds. It isn't like the fund was created yesterday,...and immediately there are four...claimants to each worker.....

If you contact your Fund, they will tell you Demographics and Mortality rates figure heavily into their fiduciary figures......
Since there are much fewer companies paying into MEPFs,....that means there are fewer companies to go bankrupt, and pull out of the Fund,....
....unlike the late '80's-'90's,...where the original 2,300 Union carriers involved with MEPFs , and there were bankruptcies every week,...was pared down to the figure it is today......

The late '80's -'90's happened........ahh....decades ago....MEPFs SURVIVED that period,....and MOST were thriving into the middle 2000's,....paying extra benefits to keep from triggering the ERISA Act provisions to allow companies to....quit paying into the Funds, because they were..."fully funded"....

So,...Wall Street had to create a.....financial disaster in 2008,.....to kick many....NOT ALL....Funds into dangerous territory...
A few "friends" on Congress to pass some...slimy legislation,...and,...Viola'!......you have a "pension crisis"....

Demographically-speaking,....the companies brought on the "4 to 1" ratio themselves. As companies went bankrupt in the '80's-'90's, the employees of those companies were immediately hired by other Teamster companies,...Most of 'em , anyway.....
The remaining companies saved....billions, probably,..over the decades, by not having to train new-hires who had never worked in LTL.....I had heard a statistic that, if you hired a new driving-school trainee,...it would take at least 5 years before he became a "profitable" employee in LTL.

So,....the remaining Teamster companies are....top-heavy in older, close-to-retirement employees,.....simply because conditions created by deregulation allowed them to "use" bankrupt companies as....."training facilities"....for "new-hires"....who were actually OLDER , EXPERIENCED Teamsters.......

That's why there's a "4 to1" ratio,..........and , demographically speaking,...within the next five years,....there will be a very long spell where Teamster companies under MEPF pensions......will have VERY FEW retirements.....because of all the new-hires the companies will have to hire, to replace retirees....
...(...who will die,...and greatly lower that "4 to1" ratio in the same five years...).......

Don't be in such a sweat to kick the coffin door closed on MEPFs..........

And,....Once again,...you've proved my point about "average" investors. If guys can be...stampeded...by rumors about 401(k)'s.......how good of ..."investors"...will they be?
...And Wall Street won't ...take advantage..of that lack of knowledge?
 
canaryinthemine said:
Well,...That's great that your private investments have done well.......just imagine how much better they would've done if Wall Street didn't ....manufacture...a few "market adjustments".....based on demographics and whims....

I certainly don't wish anyone ill, trying to set up their retirement......

But the point I was trying to make,...is that the "average investor" in a 401(k).......has no clue how the market works......
.....And you think Wall Street, and the investment firms,...aren't aware of that fact?
Next thing you know,...you'll be defending Wall Street for their......."honesty"...........

Obviously,....you're an above-average private investor....That's great.....Is your neighbor? Your co-worker? Are you providing free investment advice so that your immediate circle of acquaintenances can do just as well?

Defined-benefit pensions were created to........."democratize"....the retirement procedure. I think you will agree retirement,.....especially in a Labor-intensive job like ours,.......is NOT a Game to see who has the most,....and who lives on dog food until they die.......




Demographics , Brother,....as mentioned above. Those 4 retirees already had at least 30 years of contributions,...from starting at 30 years ago,....paid into those funds. It isn't like the fund was created yesterday,...and immediately there are four...claimants to each worker.....

If you contact your Fund, they will tell you Demographics and Mortality rates figure heavily into their fiduciary figures......
Since there are much fewer companies paying into MEPFs,....that means there are fewer companies to go bankrupt, and pull out of the Fund,....
....unlike the late '80's-'90's,...where the original 2,300 Union carriers involved with MEPFs , and there were bankruptcies every week,...was pared down to the figure it is today......

The late '80's -'90's happened........ahh....decades ago....MEPFs SURVIVED that period,....and MOST were thriving into the middle 2000's,....paying extra benefits to keep from triggering the ERISA Act provisions to allow companies to....quit paying into the Funds, because they were..."fully funded"....

So,...Wall Street had to create a.....financial disaster in 2008,.....to kick many....NOT ALL....Funds into dangerous territory...
A few "friends" on Congress to pass some...slimy legislation,...and,...Viola'!......you have a "pension crisis"....

Demographically-speaking,....the companies brought on the "4 to 1" ratio themselves. As companies went bankrupt in the '80's-'90's, the employees of those companies were immediately hired by other Teamster companies,...Most of 'em , anyway.....
The remaining companies saved....billions, probably,..over the decades, by not having to train new-hires who had never worked in LTL.....I had heard a statistic that, if you hired a new driving-school trainee,...it would take at least 5 years before he became a "profitable" employee in LTL.

So,....the remaining Teamster companies are....top-heavy in older, close-to-retirement employees,.....simply because conditions created by deregulation allowed them to "use" bankrupt companies as....."training facilities"....for "new-hires"....who were actually OLDER , EXPERIENCED Teamsters.......

That's why there's a "4 to1" ratio,..........and , demographically speaking,...within the next five years,....there will be a very long spell where Teamster companies under MEPF pensions......will have VERY FEW retirements.....because of all the new-hires the companies will have to hire, to replace retirees....
...(...who will die,...and greatly lower that "4 to1" ratio in the same five years...).......

Don't be in such a sweat to kick the coffin door closed on MEPFs..........

And,....Once again,...you've proved my point about "average" investors. If guys can be...stampeded...by rumors about 401(k)'s.......how good of ..."investors"...will they be?
...And Wall Street won't ...take advantage..of that lack of knowledge?
Click to expand...
I was beginning to think you knew what you were talking about until you said this.

“So,...Wall Street had to create a.....financial disaster in 2008,.....to kick many....NOT ALL....Funds into dangerous territory...
A few "friends" on Congress to pass some...slimy legislation,...and,...Viola'!......you have a "pension crisis"....

Then I realized you really don’t have a clue as to how the market works.
Do you honestly think Wall Street crated a disaster to collapse MEPF.
Maybe go do a little research and see what caused 2008 crash, and who was behind the stupidity that created it.
I will give you a clue, he likes cigars, played saxophone, will lie on national television and has a wife that knows very little about government records act.
 
dokman said:
I was beginning to think you knew what you were talking about until you said this.

“So,...Wall Street had to create a.....financial disaster in 2008,.....to kick many....NOT ALL....Funds into dangerous territory...
A few "friends" on Congress to pass some...slimy legislation,...and,...Viola'!......you have a "pension crisis"....

Then I realized you really don’t have a clue as to how the market works.
Do you honestly think Wall Street crated a disaster to collapse MEPF.
Maybe go do a little research and see what caused 2008 crash, and who was behind the stupidity that created it.
I will give you a clue, he likes cigars, played saxophone, will lie on national television and has a wife that knows very little about government records act.
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Another financial wizard & political analyst wasting his time shifting gears or driving a forklift....
 
GO40 said:
Another financial wizard & political analyst wasting his time shifting gears or driving a forklift....
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Nope just smart enough to do my own research and get my news from facts not cable news channels. Maybe do you good to watch congressional hearings and decide for your self. And there is a place called Barnes and Nobles that sell all kinds of books with knowledge in them.
Now on a political note. Put Bernie in the White House and see what happens to your pension.
Better yet see how much went into any given pension fund last year and multiple that by .75% (that is average of Bernies tax on investments)
That is just to get money in the market, then every transaction after that gets taxed also.
Now see how much that is and get back with me. Trust me it will make you sick to your stomach.
I damn sure am smart enough to realize that when a politician tries to give you something for FREE it is going to cost a hell of a bunch.
 
What caused the financial crash of 2008, was the removal of the Glass-Steagal Act of 1938,.......which kept Wall Street investors out of the real estate “short sell” mortgage default market.

The person leading the charge to rescind that law was Senator Phil Gramm(R) of Texas........
........who promptly retired, and is now a highly-paid consultant for.....Goldman-Sachs? ........You’ll have to google it.......

I thought everyone knew what caused the collapse of 2008......
Of course,....no one went to jail......

And,......the collateral damage was that........everyone’s pension got wrecked.......
Anyone benefit from that? I mean other that investors who had complained for years in the editorial pages of the WSJ.......about “large blocks of unregulated stocks” held by Union pension funds.....
.......and how Unions shouldn’t be allowed to do “social engineering” with the stocks they owned........

Nope.......no one “benefitted”.......
 
dokman said:
Nope just smart enough to do my own research and get my news from facts not cable news channels. Maybe do you good to watch congressional hearings and decide for your self. And there is a place called Barnes and Nobles that sell all kinds of books with knowledge in them.
Now on a political note. Put Bernie in the White House and see what happens to your pension.
Better yet see how much went into any given pension fund last year and multiple that by .75% (that is average of Bernies tax on investments)
That is just to get money in the market, then every transaction after that gets taxed also.
Now see how much that is and get back with me. Trust me it will make you sick to your stomach.
I damn sure am smart enough to realize that when a politician tries to give you something for FREE it is going to cost a hell of a bunch.
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You get your news from Facebook, don’t you?
 
canaryinthemine said:
What caused the financial crash of 2008, was the removal of the Glass-Steagal Act of 1938,.......which kept Wall Street investors out of the real estate “short sell” mortgage default market.

The person leading the charge to rescind that law was Senator Phil Gramm(R) of Texas........
........who promptly retired, and is now a highly-paid consultant for.....Goldman-Sachs? ........You’ll have to google it.......

I thought everyone knew what caused the collapse of 2008......
Of course,....no one went to jail......

And,......the collateral damage was that........everyone’s pension got wrecked.......
Anyone benefit from that? I mean other that investors who had complained for years in the editorial pages of the WSJ.......about “large blocks of unregulated stocks” held by Union pension funds.....
.......and how Unions shouldn’t be allowed to do “social engineering” with the stocks they owned........

Nope.......no one “benefitted”.......
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And as you can see ole slick Wille signed it into law.
Remember the Clintons look out for themselves and their buddies.
Retirement most allow you to smoke some good stuff..
 
canaryinthemine said:
What caused the financial crash of 2008, was the removal of the Glass-Steagal Act of 1938,.......which kept Wall Street investors out of the real estate “short sell” mortgage default market.

The person leading the charge to rescind that law was Senator Phil Gramm(R) of Texas........
........who promptly retired, and is now a highly-paid consultant for.....Goldman-Sachs? ........You’ll have to google it.......

I thought everyone knew what caused the collapse of 2008......
Of course,....no one went to jail......

And,......the collateral damage was that........everyone’s pension got wrecked.......
Anyone benefit from that? I mean other that investors who had complained for years in the editorial pages of the WSJ.......about “large blocks of unregulated stocks” held by Union pension funds.....
.......and how Unions shouldn’t be allowed to do “social engineering” with the stocks they owned........

Nope.......no one “benefitted”.......
Click to expand...
Hey do me a favor, post the link about “large blocks of unregulated stocks held in union pension funds, I trust Wall Street Journsl.I would love to read that article.
 
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