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ABF | ABF Raises Rates 5.9%

yrc-atm said:
The big yellow pig did the same thing. Carriers can raise rates all they want. They just raise the discounts to offset them anyway. That's where the concessions come into play
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Isn't that the truth!
 
I would suggest any YRC employee be respectful of a pretty clear conflict of interest you have if this contract is voted down and the stock plummets and therefor making Mr. Welch's publicly stated takeover much more likely. How did those mergers work for the employes of Holland? How did they work for Roadway employes? And most appropriately, how did the buyout work for Preston employes? This is serious question that needs to be answered. I worked at your company for over a decade and know this is the only way your management team can grow your company minus the MASSIVE CONCESSIONS you already gave them.

Secondly those same concessions turned the LTL Market upside down by making YRC the low-cost freight hauler. This is why your company still exist and even with all those concessions cannot make a profit. Meanwhile ABF CONTINUED TO HONOR ITS CONTRACTUAL OBLIGATIONS WHILE LOSING HUNDREDS OF MILLIONS OF DOLLARS. My point is simple and KK you've been in the freight business long enough to know a rate increase is never across the board.
 
yrc-atm said:
The big yellow pig did the same thing. Carriers can raise rates all they want. They just raise the discounts to offset them anyway. That's where the concessions come into play
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Thank you for making my point which is the opposite of the original post starting this thread!
 
Usually rate increases that make news don't apply to contract freight. They need to get rid of some junk freight or increase profitability on it or ABF is anticipating a signed contract. Or a combo..

The increase in stock price is saying speculators are betting on a signed contract and or a YRC buyout
speculation is the root of all evil
 
100 miles drom home said:
Usually rate increases that make news don't apply to contract freight. They need to get rid of some junk freight or increase profitability on it or ABF is anticipating a signed contract. Or a combo..

The increase in stock price is saying speculators are betting on a signed contract and or a YRC buyout
speculation is the root of all evil
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Correct. All carriers raise rates every year about the same time. Its always near 6% and it only applies to non contracted freight or customers who are on that carriers rate base. Most large customers are on special rate bases based off their negotiations. it is not unusual for a ABF, Fed Ex or Con-way customer to have a discount based of a YRC rate base or a CZAR rate base.
 
we had a regional vice-president tell us the concessions would not be used to lower rates, that the concession's would be used to fix yards and buy trailers. if ABF is running at 75% capacity, and our equipment s good, who are they going to buy trailers for ?
 
nothumbleenough said:
I would suggest any YRC employee be respectful of a pretty clear conflict of interest you have if this contract is voted down and the stock plummets and therefor making Mr. Welch's publicly stated takeover much more likely. How did those mergers work for the employes of Holland? How did they work for Roadway employes? And most appropriately, how did the buyout work for Preston employes? This is serious question that needs to be answered. I worked at your company for over a decade and know this is the only way your management team can grow your company minus the MASSIVE CONCESSIONS you already gave them.

Secondly those same concessions turned the LTL Market upside down by making YRC the low-cost freight hauler. This is why your company still exist and even with all those concessions cannot make a profit. Meanwhile ABF CONTINUED TO HONOR ITS CONTRACTUAL OBLIGATIONS WHILE LOSING HUNDREDS OF MILLIONS OF DOLLARS. My point is simple and KK you've been in the freight business long enough to know a rate increase is never across the board.
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Yes Sir I have....40 years just this past 6/7/2013.

And I AGREE on your statement... "I would suggest any YRC employee be respectful of a pretty clear conflict of interest you have if this contract is voted down."

We at YRC do have allot riding on a NO vote at ABF. As I said before, when y'all give in to the POS that was negotiated, we, the YRCW Teamsters will have the ABF waived in our faces in march 2015. As i have said before, ABF and YRC are apples and oranges....one is about survival and the other corporate greed. You have not seen YRC build any new terminals or make additions to any during our voted on MOU, now have you?

It has been nothing but staying afloat and treading water for us....unlike what others may have posted on here, they have posted a profit for the last 2Qs, first in 6 years.

I do have an interest in seeing that we get ALL of our 15% back, not just 8% because ABF is at 7% below the NMFA rates. I DO NOT want 4-6% of our road freight handled by shiny-wheels while I sit at home with no income. I DO NOT want our road bids cut from 75% of the run to 60%, just because that's what ABF has in their contract.

So, YES I do have a conflict of interests.....its called ALL of us should be in this together for the future, of our working conditions will just be something in history that you can sit in your rocker and tell your grand-children as they ask why their daddy has to work 3 times as hard to make ends meet, when YOU did not have to and did nothing to stop it!.....KK
 
Kennesaw Kid said:
Yes Sir I have....40 years just this past 6/7/2013.

And I AGREE on your statement... "I would suggest any YRC employee be respectful of a pretty clear conflict of interest you have if this contract is voted down."

We at YRC do have allot riding on a NO vote at ABF. As I said before, when y'all give in to the POS that was negotiated, we, the YRCW Teamsters will have the ABF waived in our faces in march 2015. As i have said before, ABF and YRC are apples and oranges....one is about survival and the other corporate greed. You have not seen YRC build any new terminals or make additions to any during our voted on MOU, now have you?

It has been nothing but staying afloat and treading water for us....unlike what others may have posted on here, they have posted a profit for the last 2Qs, first in 6 years.

I do have an interest in seeing that we get ALL of our 15% back, not just 8% because ABF is at 7% below the NMFA rates. I DO NOT want 4-6% of our road freight handled by shiny-wheels while I sit at home with no income. I DO NOT want our road bids cut from 75% of the run to 60%, just because that's what ABF has in their contract.

So, YES I do have a conflict of interests.....its called ALL of us should be in this together for the future, of our working conditions will just be something in history that you can sit in your rocker and tell your grand-children as they ask why their daddy has to work 3 times as hard to make ends meet, when YOU did not have to and did nothing to stop it!.....KK
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K.K. I agree. YRC is just trying to make ends meet while ABF is just greedy. I am stuck in a motel so I am doing that which I love; I am researching public companies. According to yahoo finance (key stats) ABFS has a little less than $105 million in cash, a book value of $17.46 and is trading over $20.00 a share. They do have a large number of shares in Float but with the stock price being above book value that is normal. Management at ABFS is just greedy. They are increasing the freight rate, even with the discount to contract customers; this will increase revenue while trying to decrease employee pay and benefits. While giving stock (about $60,000 each) to Judy and Roy.
 
Kennesaw Kid said:
Yes Sir I have....40 years just this past 6/7/2013.

And I AGREE on your statement... "I would suggest any YRC employee be respectful of a pretty clear conflict of interest you have if this contract is voted down."

We at YRC do have allot riding on a NO vote at ABF. As I said before, when y'all give in to the POS that was negotiated, we, the YRCW Teamsters will have the ABF waived in our faces in march 2015. As i have said before, ABF and YRC are apples and oranges....one is about survival and the other corporate greed. You have not seen YRC build any new terminals or make additions to any during our voted on MOU, now have you?

It has been nothing but staying afloat and treading water for us....unlike what others may have posted on here, they have posted a profit for the last 2Qs, first in 6 years.

I do have an interest in seeing that we get ALL of our 15% back, not just 8% because ABF is at 7% below the NMFA rates. I DO NOT want 4-6% of our road freight handled by shiny-wheels while I sit at home with no income. I DO NOT want our road bids cut from 75% of the run to 60%, just because that's what ABF has in their contract.

So, YES I do have a conflict of interests.....its called ALL of us should be in this together for the future, of our working conditions will just be something in history that you can sit in your rocker and tell your grand-children as they ask why their daddy has to work 3 times as hard to make ends meet, when YOU did not have to and did nothing to stop it!.....KK
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I hear what ya say KK but I find it ironic that you want us to hold the line when you guys left go of yours.
 
ABFer said:
I hear what ya say KK but I find it ironic that you want us to hold the line when you guys left go of yours.
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He was a big proponent of the three givebacks. And he thinks for some reason that our givebacks will be coming back. Of course he also believes that yrcw is profitable
 
yrc-atm said:
He was a big proponent of the three givebacks. And he thinks for some reason that our givebacks will be coming back. Of course he also believes that yrcw is profitable
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6.
Wage Increases.
This Restructuring Plan provides for hourly rate increases and equivalent mileage rate increase of
$0.40 per hour on April 1, 2011,
$0.45 per hour on April 1, 2012,
$0.40 per hour on April 1, 2013 and
$0.40 per hour on April 1,2014.

-15% but wtf
 
100 miles drom home said:
6.
Wage Increases.
This Restructuring Plan provides for hourly rate increases and equivalent mileage rate increase of
$0.40 per hour on April 1, 2011,
$0.45 per hour on April 1, 2012,
$0.40 per hour on April 1, 2013 and
$0.40 per hour on April 1,2014.

-15% but wtf
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All minus 15% so we DONT get the money back. but what do you care you voted yes and then ran off.
 
yrc-atm said:
All minus 15% so we DONT get the money back. but what do you care you voted yes and then ran off.
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I don't care. You got to know when to run. It's how we the rich get to keep our money
 
yrc-atm said:
Spineless coward. But at least you admit you are.
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Okay so I took the money and ran. Now on the other hand you are a stand up guy who voted to close your own personal ATM down. More like stand up comedy to me. You weren't alone. It is truly astonishing that so many of my teamster brothers are so financially illiterate that they saw YRC as a viable business and voted to shut em down. I mean a company that was losing billions and carrying a billion + in debt should not be here today. No way they should even be here. We live in a capitalist system.

There is an argument that ABF should not have concessions other then the fact that they don't like having the high cost labor force they have. Like I often repeated. If they ain't making enough money no one is
 
ABFer said:
I hear what ya say KK but I find it ironic that you want us to hold the line when you guys left go of yours.
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Sighhh...I hate repeating myself....ABF & YRC is apples and oranges....one is about corporate greed, the other survival. YRC would not be open today if the concessions were not made....I KNOW THAT FOR FACT.....ABF voted no the last time and kept moving forward....now some skirt, instead of a suit comes after ya'll and some of you are running and hiding to vote yes? I hope not.

I will say it again....IF ABF VOTES YES FOR THIS CONTRACT, IN MARCH 2015, YRC WILL BE WAIVING YOUR CONTRACT IN OUR FACES AND PUSH FOR IT....YES, WE WOULD GET 8% BACK, BUT ABF AND YRCW WILL ALWAYS BE 7% BEHIND WHAT THE NMFA RATES SHOULD BE....WE WILL FOREVER BE BEHIND THE EIGHT BALL!

I AM LOOKING 2 to 5 YEARS DOWN THE ROAD WHAT WILL HAPPEN TO ALL OF US....kk

 
Kennesaw Kid said:
Sighhh...I hate repeating myself....ABF & YRC is apples and oranges....one is about corporate greed, the other survival. YRC would not be open today if the concessions were not made....I KNOW THAT FOR FACT.....ABF voted no the last time and kept moving forward....now some skirt, instead of a suit comes after ya'll and some of you are running and hiding to vote yes? I hope not.

I will say it again....IF ABF VOTES YES FOR THIS CONTRACT, IN MARCH 2015, YRC WILL BE WAIVING YOUR CONTRACT IN OUR FACES AND PUSH FOR IT....YES, WE WOULD GET 8% BACK, BUT ABF AND YRCW WILL ALWAYS BE 7% BEHIND WHAT THE NMFA RATES SHOULD BE....WE WILL FOREVER BE BEHIND THE EIGHT BALL!

I AM LOOKING 2 to 5 YEARS DOWN THE ROAD WHAT WILL HAPPEN TO ALL OF US....kk
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KK, you should hope and pray that in two years your contract is the same as what ABF is voting on. The market is saying with certainty that there is no way it will be better.
 
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