ABF | Exhibit Notes History Of Arcbest, From 10 Employees To More Than 13,000

Freightmaster1

TB Legend
Credits
575
https://talkbusiness.net/2019/10/ex...arcbest-from-10-employees-to-more-than-13000/

"Our company is part of the fabric and history of Fort Smith,” said Judy McReynolds, chairman, president and CEO.

The museum exhibit tells the story of ArcBest — its roots, foundation and hard work, McReynolds said.

“It tells the story of the grit and dedication of our employees. (It shows) the beginning that laid the foundation of what we are today,” she told those attending Thursday’s opening. “One thing that hasn’t changed over the years is that foundation, that value set that is so familiar to all our employees.”

Included in that history, is a history of a company that cares about the community of which it is a part.

“We have 1,600 employees in Fort Smith. These are people spending dollars here, raising families here and volunteering in the community,” Faldon said. “ArcBest has always been a supporter of this company, all the way back to Robert Young Jr. in the 1950s supporting the Community Chest (which was the forerunner to the United Way in Fort Smith.) We have a long history of being involved in the community.”

In 1951, Robert Young Jr. purchased Arkansas Motor Freight, which OK Transfer acquired and assumed its name in 1935. Robert A. Young III eventually took over as CEO of the company, retiring in 2006 after a 42-year career. The company made about 30 acquisitions over those years, McReynolds said.

“Expansion really started there. It is a really great part of the exhibit, which you will see,” she said.

A big part of the history of the company is due to Fort Smith, McReynolds said, noting that the company has been a part of the community and benefitted from it as well.

“This is a warm community that gets behind its great companies and the great projects here,” she said.
:grouphug:
 
The shareholders know it’s ABF, they are the ones making them money. Her other adventures not sol much....
I thought she was going to make money hand over fist once she got rid of that pesky union.

I guess it's hard to find quality employees for peanuts. So sad.
 
I thought she was going to make money hand over fist once she got rid of that pesky union.

I guess it's hard to find quality employees for peanuts. So sad.
yeah, the company has changed since Robert Young (Sr, & Jr.), David Stubblefield, Wes Kemp and maybe one or 2 more that I can't think of right now, but in my humble opinion, the ABF Freight division won't be around in 10 years..not sure what ArcBest will do with them..maybe sell to YRC? Then it could be alphabet soup...ABFARCYLCW ?
 
https://talkbusiness.net/2019/10/ex...arcbest-from-10-employees-to-more-than-13000/

"Our company is part of the fabric and history of Fort Smith,” said Judy McReynolds, chairman, president and CEO.

The museum exhibit tells the story of ArcBest — its roots, foundation and hard work, McReynolds said.

“It tells the story of the grit and dedication of our employees. (It shows) the beginning that laid the foundation of what we are today,” she told those attending Thursday’s opening. “One thing that hasn’t changed over the years is that foundation, that value set that is so familiar to all our employees.”

Included in that history, is a history of a company that cares about the community of which it is a part.

“We have 1,600 employees in Fort Smith. These are people spending dollars here, raising families here and volunteering in the community,” Faldon said. “ArcBest has always been a supporter of this company, all the way back to Robert Young Jr. in the 1950s supporting the Community Chest (which was the forerunner to the United Way in Fort Smith.) We have a long history of being involved in the community.”

In 1951, Robert Young Jr. purchased Arkansas Motor Freight, which OK Transfer acquired and assumed its name in 1935. Robert A. Young III eventually took over as CEO of the company, retiring in 2006 after a 42-year career. The company made about 30 acquisitions over those years, McReynolds said.

“Expansion really started there. It is a really great part of the exhibit, which you will see,” she said.

A big part of the history of the company is due to Fort Smith, McReynolds said, noting that the company has been a part of the community and benefitted from it as well.

“This is a warm community that gets behind its great companies and the great projects here,” she said.
:grouphug:

You notice at the end of the article, ArcBest posted a "five year winning streak", as far as dividends and profits went,......and juxtaposing the last five years with the "losing" years of 2008-2013.........

Funny how "profitable" years run concurrently with ......giveback, cut-wage contracts.......

In other words, ArcBest became "profitable" when they cut wages and vacations for their workforce........

Golly! What profits they could reap if they could only slash the pension payments,....and dump everyone into a self-funded 401(k)!

Ms. McReynolds notes the "grit and dedication" of ...."our employees"...She didn't say whether that meant ABF,....or ArcBest employees. But if she was saying that former employees "made the foundation" for the company,..........that would be ABF employees,.......Former ABF employees,....the ones getting their pension cut,.....The ones whose families had to suffer benefit, vacation, and wage cuts,.......
........so that the shareholders could dance with glee in a pile of....(our)...money.......

Uhhh,....Thanks......I've learned a good lesson on the value of my "grit and dedication"....as far as corporations go........
 
You notice at the end of the article, ArcBest posted a "five year winning streak", as far as dividends and profits went,......and juxtaposing the last five years with the "losing" years of 2008-2013.........

Funny how "profitable" years run concurrently with ......giveback, cut-wage contracts.......

In other words, ArcBest became "profitable" when they cut wages and vacations for their workforce........

Golly! What profits they could reap if they could only slash the pension payments,....and dump everyone into a self-funded 401(k)!

Ms. McReynolds notes the "grit and dedication" of ...."our employees"...She didn't say whether that meant ABF,....or ArcBest employees. But if she was saying that former employees "made the foundation" for the company,..........that would be ABF employees,.......Former ABF employees,....the ones getting their pension cut,.....The ones whose families had to suffer benefit, vacation, and wage cuts,.......
........so that the shareholders could dance with glee in a pile of....(our)...money.......

Uhhh,....Thanks......I've learned a good lesson on the value of my "grit and dedication"....as far as corporations go........
GREAT POST! That sums it up....one time Bob Davidson came to our terminal and all he did was rave about Old Dominion..I wonder if he went to Old Dominion after he was canned?
 
You notice at the end of the article, ArcBest posted a "five year winning streak", as far as dividends and profits went,......and juxtaposing the last five years with the "losing" years of 2008-2013.........

Funny how "profitable" years run concurrently with ......giveback, cut-wage contracts.......

In other words, ArcBest became "profitable" when they cut wages and vacations for their workforce........

Golly! What profits they could reap if they could only slash the pension payments,....and dump everyone into a self-funded 401(k)!

Ms. McReynolds notes the "grit and dedication" of ...."our employees"...She didn't say whether that meant ABF,....or ArcBest employees. But if she was saying that former employees "made the foundation" for the company,..........that would be ABF employees,.......Former ABF employees,....the ones getting their pension cut,.....The ones whose families had to suffer benefit, vacation, and wage cuts,.......
........so that the shareholders could dance with glee in a pile of....(our)...money.......

Uhhh,....Thanks......I've learned a good lesson on the value of my "grit and dedication"....as far as corporations go........
I actually had to look up the definitions of those words....grit and dedication. As pointed out by....some....on these forums, Unionized employees exhibit neither of those behaviors.

I also followed the concurrent ‘profitability/give-back’ lines, canary. Simply....amazing.
 
It’s as old as Henry Clay Frick and Andrew Carnegie cutting the wages of steelworkers in half, in response to their company stock dropping due to a world-wide glut in the steel market......
.......that they caused.....

They posted an immediate profit........and caused the Homestead Strike and the Battle of Homestead.......

Of course they were able to call Governor Curtin to bring in Penna. militia and break the strike and back of the steelworker’s Union.....
.......so it was a win-win for Carnegie and Frick......

Corporate tactics never change......
 
Top