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6-01-2011

Supermac

Active Member
Ok with the company posting a loss of 60m last quarter, how are they coing to show a profit to the point of being able to pay the pension and still make money, in other words if they are still losing money how are they going to pay into the pension again??? any takers???
 

jimmy g

Kook
Premium
Ok with the company posting a loss of 60m last quarter, how are they coing to show a profit to the point of being able to pay the pension and still make money, in other words if they are still losing money how are they going to pay into the pension again??? any takers???

I'm not there, so take my advise with a grain of salt. I voted yes so the people still there had a chance to still have employment while they are looking for another job. Take a LOA and seek another job while they are open. Of course, who am I to say-- someone out there thinks they need to still be here, keeps advancing them money??? By all normalcy, economically, they should already be gone. How they survive is anyone's guess.....
 

superstar

Member
The weeks vacation that we give up is paying for it. So ---------IT WILL BE PAID!!!!!!!! If you don't believe it, try calling someone you trust more than these forums. Do you base your future or your families future on what you read on these forums? Try calling the right people instead of believing all the "negative experts" on here.
 

electraglideatl

Well-Known Member
The weeks vacation that we give up is paying for it. So ---------IT WILL BE PAID!!!!!!!! If you don't believe it, try calling someone you trust more than these forums. Do you base your future or your families future on what you read on these forums? Try calling the right people instead of believing all the "negative experts" on here.

But I am a positive expert............Does that count?
 

Twice Pipes

Well-Known Member
YRC is still gushing red ink. One thing for sure, the banks will not wait until all the assets are liquidated before they pull the plug. YRC plans to consolidate down from 350 terminals to 300 which will help the bottom line but displace more people. Twenty five percent of 300million plus equals about 20 million a quarter that has to be paid back into the pension plan starting June 1, 2011. One thing for sure the employees have done more that their share of sacrificing to save the company. Good luck TP
 
J

Jay C

Guest
YRC is still gushing red ink. One thing for sure, the banks will not wait until all the assets are liquidated before they pull the plug. YRC plans to consolidate down from 350 terminals to 300 which will help the bottom line but displace more people. Twenty five percent of 300million plus equals about 20 million a quarter that has to be paid back into the pension plan starting June 1, 2011. One thing for sure the employees have done more that their share of sacrificing to save the company. Good luck TP

th_7b48dc42.jpg
ya right, we've been hearing that nonsense about pulling the plug goin on 3 years now. What will it take to prove to you naysayers of the world that it ain't going to happen? Not now, not in a decade from now..not ever. How much property did FedEx sell off to pay for the huge acquisitions? That's how they pay for them. And besides you got your own job issues at FedEx

On June 1, 2011, members will start receiving a $1.75 per hour pension contribution. Each pension fund has to determine what this employer contribution will buy for members. In most funds, pension trustees will have to make amendments to their plan to allow such a drastic reduction in contractual pension contributions. The current contribution rate in the freight contract is about $8.40 per hour, with variations by contract supplement.


so, there might be some adjustments..whoopy do​
 
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rv833

Active Member
th_7b48dc42.jpg
ya right, we've been hearing that nonsense about pulling the plug goin on 3 years now. What will it take to prove to you naysayers of the world that it ain't going to happen? Not now, not in a decade from now..not ever. How much property did FedEx sell off to pay for the huge acquisitions? That's how they pay for them. And besides you got your own job issues at FedEx

On June 1, 2011, members will start receiving a $1.75 per hour pension contribution. Each pension fund has to determine what this employer contribution will buy for members. In most funds, pension trustees will have to make amendments to their plan to allow such a drastic reduction in contractual pension contributions. The current contribution rate in the freight contract is about $8.40 per hour, with variations by contract supplement.


so, there might be some adjustments..whoopy do​

Are you really such a positive person that you can't see straight ? Yrc's costs are much more than FEDX, mainly because of wages and benefits.
How long do you think the banks will let them hang on when they can't pay? At what point does the debt outweigh the collateral? At some point the credit card max's out. I know- I know, YRC debt isn't on unsecured cards. That just takes me back to the last sentence of debt outweighing collateral.

I have been on layoff since March 20th 2009, and would like to think that I will be called back soon. They called me and asked me to sign up for this new 4 hour deal. I jumped at it. I'm just a Truck Driver, but this isn't rocket science either.
 

longblade

im here to make you uncomfortable
he will be this way until the day he gets his retirement check and its only half what he thinks he should be getting. and that will happen . no happy happy rainbows and unicorns will help him then!!!
 

longblade

im here to make you uncomfortable
at our term they will attempt the 4 hour gig but when they call they suggest you you say no. then they call back for a 8 hour shift
 
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ABFer

I live Here
I doubt that YRC will be reentering any of the Teamsters' pension plans. IF they do you might want to see what the benefit levels are at $1.75/hr vs. $7.00/hr or more. In my area the $1.75/hr level has different retirement ages and benefits. After a certain number of years, (2 or 5), you fall into that catagory
 
J

Jay C

Guest
Are you really such a positive person that you can't see straight ? Yrc's costs are much more than FEDX, mainly because of wages and benefits.
How long do you think the banks will let them hang on when they can't pay? At what point does the debt outweigh the collateral? At some point the credit card max's out. I know- I know, YRC debt isn't on unsecured cards. That just takes me back to the last sentence of debt outweighing collateral.

I have been on layoff since March 20th 2009, and would like to think that I will be called back soon. They called me and asked me to sign up for this new 4 hour deal. I jumped at it. I'm just a Truck Driver, but this isn't rocket science either.
images
You say Yrc's costs are much more than FEDX, mainly because of wages and benefits? Negative, Theyre in line with FedEx now with the work rules in place.
When they can't pay what? During 2010, the company has reduced its total debt by $73 million according to the third Q results. Selling off was always the plan to pay for things and obtain credit which is being paid off not being increased.

This is a trillion dollar economy. YRC is doing $4B+ a year without trying. They got this bro
 

almost13ranch

Ambitiose sed ineptum
The weeks vacation that we give up is paying for it. So ---------IT WILL BE PAID!!!!!!!! If you don't believe it, try calling someone you trust more than these forums. Do you base your future or your families future on what you read on these forums? Try calling the right people instead of believing all the "negative experts" on here.

The weeks vacation is supposed to save $60 million a year and the breaks about $9 million. I would like to see in writing that the pension funds will be able to operate at the reduced contribution for "years" without reducing the payouts drastically.
 

longblade

im here to make you uncomfortable
some funds have already said they will not except the reduced rates . others have said they will apply the 25% toward what they were in arears. id say they will never pay in it again.
why would they . they would put it to a vote and pass next time by 75% to save what few jobs that will be left after the closings and all the lay offs that will be forthcoming.
 
T

turboj

Guest
images
You say Yrc's costs are much more than FEDX, mainly because of wages and benefits? Negative, Theyre in line with FedEx now with the work rules in place.
When they can't pay what? During 2010, the company has reduced its total debt by $73 million according to the third Q results. Selling off was always the plan to pay for things and obtain credit which is being paid off not being increased.

This is a trillion dollar economy. YRC is doing $4B+ a year without trying. They got this bro


Trillion dollar what!!!!! Trucking!!!!!! joe, please layoff the cheech & chong smokes! yrc is 4B + double stupid, you got that part right at least!
 

rocketmancve

Active Member
Ok with the company posting a loss of 60m last quarter, how are they coing to show a profit to the point of being able to pay the pension and still make money, in other words if they are still losing money how are they going to pay into the pension again??? any takers???

My guess would be they come back to us around March, before end of the first quarter 2011, and ask us to pay a portion of our healthcare, so they can pay us a small portion of the pension we used to get.
 

MRjlm66

Member
youre right the vote will be YES. and you move on now longblade or hang around to see it. i say you will be here to TAKE IT.
 
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