#YRC 6-01-2011
- Thread starter Supermac
- Start date
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
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
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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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.
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
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 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.
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
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
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.