Yellow | ABF.

[quote author=TurboJ link=topic=79397.msg834888#msg834888 date=1275573118]
[quote author=mud link=topic=79397.msg823392#msg823392 date=1271825064]
At this point, maybe it's about staying competitive.
[/quote] This is the biggest con-job that the pos union and pos companies like to lay on you. How did that philosophy work out for pos yrc? All the non unions did was immediately adjust their wages and benefits to stay even. Only thing is, most if not all has been returned to them. Like someone said, its a race to the bottom and the pos union and pos yrc are trying to out do each other to see who can get the working man there first.
[/quote] maybe it's time for a recall vote, get rid of jr. and all his scumbag cronies.
 
The board of directors of Arkansas Best Corporation won't let this stock become a penny stock. Their obligation is to the shareholders. The company will be sold before it takes on a large debt just to stay in business. The assets are worth much more now than if the company has an unsurountable debt. The main liability to this company is the pension obligation. Unless they can remove some of this obligation it will be difficult to show a profit without either a large increase in freight volume or some relief in wages/benefits. I don't think mangement will come back with their hat in their hand asking for wage concessions. To date the only company that has had enough clout/funding to get out of the pension funds has been UPS.
 
Posted by: DCM_Doc
« on: Today at 11:31:07 AM
The main liability to this company is the pension obligation. Unless they can remove some of this obligation it will be difficult to show a profit without either a large increase in freight volume or some relief in wages/benefits.

you would be OK with them removing some of the pension obligation? It might come down to that yet. That would mean less of a pension..that OK? ABF didn't ask for a pension concession. You would prefer a pension cut to a pay cut.

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some relief in wages is unlikely now-it was voted down

52-Week High 34.5600
09/15/2009

today $20.90
 
I certainly don't want to give up any pension. I was refering to legislation that has been proposed to give pension relief to the surviving freight lines, (ABF & YRC). Half of the pension payment funds ABF makes goes to retirees of companies that are no longer in business & of course don't make payments & haven't for many years. It doesn't take very much figuring to see that ABF can't continue making other company's pension payments.
Given the choice I will take a temporary wage reduction to keep my pension. I am not aware if ABF has proposed temporarily stopping pension payments like YRC. I don't think the company will come back & ask for concessions again. As I said I don't think ABC board of directors would hesitate to sell the company if loses continue. If it looks like the company is facing very many quarters of red ink the time to sell will be before more debt is accumulated.
Whatever revenue could be generated by the sale the corporation could invest in something that will make a profit. That's what business is all about.
 
As of 06/22/2010 04:00pm ET

ABFS--Last Trade $19.8500 and falling

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