The two 21 year olds don't want to work like we're use to. Keep in mind places like Wal-Mart are going to pay less but they're going to expect less. Just go checkout the employee's at your local supercenter.
Yellow | CSPF Proposal Of Deep Cuts For Some
- Thread starter Kennesaw Kid
- Start date
I couldn't believe ANR was not on there. They treated their drivers like crap on the way out.
Or they don't even know who paid or who didn't.
Didnt ANR as a company continue? They must have paid their liability when they shut down.
They were a subsidiary.
D
Deleted member 5115
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How would i personal message you. Can't find it on this site." Cell Phone"We really agree on most things. Would like to pick your brain!?
Freightmaster1
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I. FACTUAL AND PROCEDURAL BACKGROUND
ANR, a unionized trucking company, was formed in 1996 when ANR Freight Systems, Inc., merged with Advance Transportation Company. The Coastal Corporation ("Coastal") owned 100% of ANR Freight Systems, Inc., but only fifty percent of the newly formed entity, ANR. Subsequently, ANR experienced a strike, became financially troubled, and ceased making contributions to the employee pension fund.
In February 1999, ANR's creditors filed an involuntary bankruptcy petition under Chapter 11 in federal bankruptcy court in Delaware. The court entered an order for relief under Chapter 7 and transferred the case to this district.
When ANR stopped contributing to the pension fund, it became subject to liability for its share of the unfunded portion of the plan, i.e., withdrawal liability. Central States filed a claim against ANR exceeding $20 million in the bankruptcy proceeding.
Additionally, under the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended by the Multi-Employer Pension Plan Amendments of 1980 ("MPPA"), liability for withdrawal payments can be allocated to an entity which owns at least 80% of the stock of the debtor. 29 U.S.C. §§ 1001-1461. Moreover, if such entity reduces its ownership interest for the purpose of avoiding its obligation to make withdrawal payments, it remains subject to withdrawal liability. 29 U.S.C. § 1392(c). Thus, if it could be established that the purpose of the 1996 merger was to enable Coastal to evade withdrawal liability, Coastal would be jointly and severally liable with ANR to Central States. This would benefit both ANR and Central States.
Thus, the trustee and Central States sought to establish that the purpose of the merger was to enable Coastal to avoid withdrawal liability. Counsel for Central States advises that Central States's employees searched ANR's records but uncovered no evidence concerning the reason for the merger. Although the law firms apparently did not represent ANR at the time of the merger, the trustee and Central States believed that they might possess information relevant to the possible withdrawal liability claim against Coastal. However, the law firms indicated that they would assert work product immunity in response to any request for information or materials from the trustee. Therefore, the trustee and Central States brought a joint motion in the bankruptcy court seeking court approval of the trustee's waiver of work product protection. The law firms opposed the motion.
Read more here...
http://www.ecases.us/case/wied/2018372/in-re-anr-advance-transp-co-inc
Freightmaster1
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Great read on the history of ANR. I would bet that is why some other companies are not on the list. I had no idea that ANR also owned Advance. I know ANR owned several companies at the end. I am thinking Terminal Transport was one of them. Not sure though. Thanks again, I followed the growing history of ANR, back n the 70's. Very interesting, thanks again.
D
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Bony Fingers
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The Treasury Dept. might and no doubt WILL override it...but...at least we voted our opinion of NO. This gives the Brothers and Sisters one last chance to stand together and let those know how we felt.
Bony Fingers
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Exactly. You should always vote even if you think it's going to be tanked. Stand up and be heard.
Well i got my bad news letter today and yes they took half of it stating July 1st 2016 and yes I know the treasury is going to over ride my vote but brothers and sisters I'm going down swing I'm not taking a fastball right down the middle and yes i know their forcing it down our throats but they can't make me like it. A sure NO vote here.Yes Jimmy Hoffa i blame you for some of this mess you don't let the golden company out of Central States know matter how much money they offer you.
electraglideatl
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I received my letter today and it is not as bad as some but I am being cut 30% but I retired back in 2009 at age 51 with 25 years....I am now 57 and soon to be 58 in 2 more months so I will have to endure this cut until I turn 62 then I am taking 1600 per month Social Security.....I am very blessed to have a paid off mortgage but I really feel sorry for my Brothers and Sisters who still have mortgages and to find out that they will be cut 50% or more.....This is very sickening and seems like our Union leaders only care about themselves...I strongly urge every Union paying member to go down to their local and get a withdrawal card as soon as possible then this will for sure get the attention of these thieves....DO IT TOMORROW.....Nuff said!!!!!!!!!!!!
How come some letters received what seems like bigger cuts then others. Saw one guys letter today. He took a 42.75 percent cut with 38 years vested . All at YRC. He lost almost 1500 dollars. Went from just shy of 3500 to less then 2000? He said he was going to retire this year?