ABF | Arcbest’s Ceo Targets Non-ltl Services For Half Its Revenue, Up From 31 Percent
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canaryinthemine
Retirement....The Job I Was Born To Have!
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Thank you, Brother,...for the info.....
I believe that ABF would love to get rid of the union. But I think this is more about economies of scope.
economy of scope
phrase of economy
plural noun: economies of scope
- a proportionate saving gained by producing two or more distinct goods, when the cost of doing so is less than that of producing each separately.
It is my belief that wanting to be non-union (not wanting to grow the union) is why ABF Freight is now a subsidiary ARC Best. This way ARC Best holdings can grow and enlarge the company through economies of scope (different but related services) rather than keep ABF Freight as a stand alone company and growing the company through economies of scale (increasing market share). Over time ARCB can make ABF such a small portion of the corporation that the union will loose power and authority to bargain for employee benefits.
canaryinthemine
Retirement....The Job I Was Born To Have!
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It doesn’t have to be an albatross........It COULD be their biggest recruitment tool, in this age of 401(k) schemes........
The pension crisis........exacerbated by the actions of our own Union “leadership “........has been decades in the making. Companies, including ABF,....have been trying to negotiate out of MEPF’s long, long before pension funds had funding problems.
Remember ABF’s “ beg-back” just about 20 years, and three contracts ago?........Part of that deal would’ve established a defined-contribution plan..........(.....and that would’ve been prior to the market collapse of 2008,........which would’ve wiped out most everyone’s 401(k) balance.......).....
As the companies sanctimoniously say: “We paid the money and the fund was mis-managed....”......the question should be: Why didn't you insure these funds would be viable for your employees? Instead of sitting back and watching a slow decline? Wasn't pension security for employees who gave you 20, 30, and 40 years of their lives a.....priority...for ABF?
It becomes easier to..."sell"....a 401(k)-style defined-contribution pension........if the current pension is left....ignored,....and allowed to collapse.
And,.....That begs the question of what would ArcBest do if it turns out the....defined-contribution scheme is...burdensome, and not very effective for employees trying to retire? Would ArcBest management......ignore.....that problem, too?
After all,......it's just truck drivers and dock workers........Not like they matter much......to the corporate world, anyway.........
And,....the corporate world hates Unions........Give them stinky workers their First Amendment Rights at work!? Pshaw!
......(....IF we had real Union Leadership in the last two decades,........things would've been substantially different.......Trucking would STILL be the Highest-Paid Blue Collar occupation....)............