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ABF | Central States Fund Report: $17.7 Billion!

Freightmaster1 said:
Central States Fund Report: $17.7 billion | Teamsters for a Democratic Union

:crybaby:
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The fund is in serious condition and could possibly be insolvent within a decade.
The report details that in 2011 the Trustees of the fund decided to accept the low contribution rate of about $1.75 per hour from YRC.
The Fund took another hit when Hostess Brands stopped making payments last August on 2,800 Teamsters. Later Hostess filed Chapter 11 bankruptcy in a move to escape its pension obligations.
The fund had 67,815 active participants as of November 2011, and 213,647 retirees.
The fund is heavily dependent on investment success. In fact, to maintain its present level of assets, it has to make 12% on investments this year. This is well above any reasonable projection.
The fund made zero on investments during the year; in fact there was a loss of .28%, attributed to poor stock market performance.
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The Fund appears to be in “endangered” status" and in need of further rehabilitation if the stock market doesn't improve soon. But one would have to be a pessimist to think it won't because it always does or it always used to anyway. A lot depends on who is our next president:Violin:
 
Joe the plumber said:
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The Fund appears to be in “endangered” status" and in need of further rehabilitation if the stock market doesn't improve soon. But one would have to be a pessimist to think it won't because it always does or it always used to anyway. A lot depends on who is our next president:Violin:
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So what are you getting at joe? Should abf teamsters look in a diffrent direction?
 
GO40 said:
So what are you getting at joe? Should abf teamsters look in a diffrent direction?
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The only thing that Joey will get at is to post something derogatory in one way or another at ABF or the ABF Teamsters.I'm still waiting for him to post something that is substantial to the topic at hand in the ABF forum.Right now...he is just using our forum as his personal grudge session to air his grievances about the company itself and the ABF Teamsters.

IMO...the only direction that he wants us to go in is the one that will either be detrimental to the company or the ABF Teamsters...preferably both...but lacks the balls to just come right out with that fact.I think that he should just stick to what he knows like this post of his which it seems like he does have some knowledge and considerable experience at:

Joe the plumber said:
Learning to overcome the gag reflex is necessary to go all the way down :17142:
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Docker said:
The only thing that Joey will get at is to post something derogatory in one way or another at ABF or the ABF Teamsters.I'm still waiting for him to post something that is substantial to the topic at hand in the ABF forum.Right now...he is just using our forum as his personal grudge session to air his grievances about the company itself and the ABF Teamsters.

IMO...the only direction that he wants us to go in is the one that will either be detrimental to the company or the ABF Teamsters...preferably both...but lacks the balls to just come right out with that fact.I think that he should just stick to what he knows like this post of his which it seems like he does have some knowledge and considerable experience at:
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Don't be such a tool. I believe you lack the intelligence to understand the the connection between ABF's stock price, the law-suit, the upcoming contract and the fact Judy has no option but to demand concessions. There is only one thing that could change this and that is if the court rules in ABF's favor in which case ABF has succeeded in getting rid of YRC. That will solve all problems of stock plunging, fleeing investors and low profit margins. See a doctor today about your perverted mind. There is a medication that could help you, possibly


but I doubt it​
 
joe you seem to be full of what if's. Let's hear the facts. I have posted some facts today that you should read. The yrc court case will in it's self not ever be a deciding factor in ABF moving forward. It is what it is a lawsuit for the breaking of a contract. We at ABF have been competing against many companies that pay far less than ABF. yrc is just another one that has chosen to do so. We will deal with that just like we have with the rest of them.
Judy will accept what we choose to propose to her. Just because you think she has not proven herself all one has to do is look at how we fared and how zollars fared with yrc. She was head and shoulders above him in all aspects. We came through the GREATEST RECESSION SINCE THE DEPRESSION with money in the bank. We grew several new business interest during this same time period. zollars did not. ABF bought hundreds of new tractors and thousands of new trailers.zollars did not. we paid a dividend on our stock. zollars did not. The only area where zollars did beat Judy was ZOLLARS GOT MONEY AND DESTROYED THE PENSIONS OF HIS YRC TEAMSTERS AND JUDY DID NOT! So as you can see if you were keeping score zollars lost and Judy won! You know I think in this instance she should be referred to as Mrs McReynolds CEO/President of ABC- A+ YOUR HEAD ABOVE THE WATER BROTHER ALWAYS!
 
Joe the plumber said:
Don't be such a tool. I believe you lack the intelligence to understand the the connection between ABF's stock price, the law-suit, the upcoming contract and the fact Judy has no option but to demand concessions. There is only one thing that could change this and that is if the court rules in ABF's favor in which case ABF has succeeded in getting rid of YRC. That will solve all problems of stock plunging, fleeing investors and low profit margins. See a doctor today about your perverted mind. There is a medication that could help you, possibly


but I doubt it​
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What I understand is that you assume to know the day to day operations at ABF when you actually have no clue on what's really going on at ABF.You know nothing about how Ft.Smith is running the show but you run that mouth of yours like you know every aspect of their operations. You have never worked at ABF and come here trying to be an expert on the stock market...ABF's operations and the lawsuit.And I also understand how you despise ABF and the ABF Teamsters and wish nothing but hard times on both.

And as for my perverted mind...don't try to blame me for your idiotic posts...you made them...not me...I just pointed them out on just how asinine they really are.
 
Muler said:
joe you seem to be full of what if's. Let's hear the facts. I have posted some facts today that you should read. The yrc court case will in it's self not ever be a deciding factor in ABF moving forward. It is what it is a lawsuit for the breaking of a contract. We at ABF have been competing against many companies that pay far less than ABF. yrc is just another one that has chosen to do so. We will deal with that just like we have with the rest of them.
Judy will accept what we choose to propose to her. Just because you think she has not proven herself all one has to do is look at how we fared and how zollars fared with yrc. She was head and shoulders above him in all aspects. We came through the GREATEST RECESSION SINCE THE DEPRESSION with money in the bank. We grew several new business interest during this same time period. zollars did not. ABF bought hundreds of new tractors and thousands of new trailers.zollars did not. we paid a dividend on our stock. zollars did not. The only area where zollars did beat Judy was ZOLLARS GOT MONEY AND DESTROYED THE PENSIONS OF HIS YRC TEAMSTERS AND JUDY DID NOT! So as you can see if you were keeping score zollars lost and Judy won! You know I think in this instance she should be referred to as Mrs McReynolds CEO/President of ABC- A+ YOUR HEAD ABOVE THE WATER BROTHER ALWAYS!
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Fred won..big time
 
Muler said:
joe you seem to be full of what if's. Let's hear the facts. I have posted some facts today that you should read. The yrc court case will in it's self not ever be a deciding factor in ABF moving forward. It is what it is a lawsuit for the breaking of a contract. We at ABF have been competing against many companies that pay far less than ABF. yrc is just another one that has chosen to do so. We will deal with that just like we have with the rest of them.
Judy will accept what we choose to propose to her. Just because you think she has not proven herself all one has to do is look at how we fared and how zollars fared with yrc. She was head and shoulders above him in all aspects. We came through the GREATEST RECESSION SINCE THE DEPRESSION with money in the bank. We grew several new business interest during this same time period. zollars did not. ABF bought hundreds of new tractors and thousands of new trailers.zollars did not. we paid a dividend on our stock. zollars did not. The only area where zollars did beat Judy was ZOLLARS GOT MONEY AND DESTROYED THE PENSIONS OF HIS YRC TEAMSTERS AND JUDY DID NOT! So as you can see if you were keeping score zollars lost and Judy won! You know I think in this instance she should be referred to as Mrs McReynolds CEO/President of ABC- A+ YOUR HEAD ABOVE THE WATER BROTHER ALWAYS!
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This is why I don't waste time trying to reason with you Joey...Muler responds with an intellectual post and wants you to post the facts behind your reasoning and all you do is post this remark:

Joe the plumber said:
Fred won..big time
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And here you want to be taken seriously with replies like this...go figure!
 
If i am correct, joe is retired and collecting his pension from The Big R. Joe just likes to stick it in your eye about the high cost structure of A.B.F. all the while collecting what most of us might not ever get. Joe did not mind when he was working and the cost structure was high at his company. but then again the union companies out numbered the nons.
 
One question what do you guys think would happen to Joes pension, if ABF was to withdraw from the fund? What would happen if he only had to depend on the great YRC for payments into the fund. If not for ABF and other companies his behind would be in a pickle. Why do you think he is worried about ABF pulling out He should be saying thanks instead.
 
truxforever said:
One question what do you guys think would happen to Joes pension, if ABF was to withdraw from the fund? What would happen if he only had to depend on the great YRC for payments into the fund. If not for ABF and other companies his behind would be in a pickle. Why do you think he is worried about ABF pulling out He should be saying thanks instead.
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Don't think what will happen to my pension if ABF was to withdraw from the pension rather think what will happen to your pension if ABF was to withdraw from the pension. To make matters worse..think what will happen the ABF pensions if YRC were to fold. Me? I'm good with the pension. It's there every month
watching20you.gif
always will be

without fail​
 
Think again Joe, if the goverment steps in you will get pennies on the dollar. The funds are in trouble they can't go on like they are now, they will be gone in a few years.
 
Joe the plumber said:
Don't think what will happen to my pension if ABF was to withdraw from the pension rather think what will happen to your pension if ABF was to withdraw from the pension. To make matters worse..think what will happen the ABF pensions if YRC were to fold. Me? I'm good with the pension. It's there every month
watching20you.gif
always will be

without fail​
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remember what the gear pattern is joe, if that happens,,....
 
Joe the plumber said:
Don't think what will happen to my pension if ABF was to withdraw from the pension rather think what will happen to your pension if ABF was to withdraw from the pension. To make matters worse..think what will happen the ABF pensions if YRC were to fold. Me? I'm good with the pension. It's there every month
watching20you.gif
always will be

without fail​
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joe you should know that if the fund ever fails you drop down to about $1200.00 a month. So be careful what you wish on us ABF Teamsters. We are still working and can earn a good living. You would be on a long list of names to become a greeter at the BIG Walmart.
You spend to much time on ABF matters. We don't listen to your post about ABF we find them funny and sometimes very boring. But when you talk about the pension you are just killing yourself with a no win.
We are debt free and expanding into markets that once we could have never competed in. And may I say we are doing pretty good in them. You had better hope we don't accept a proposal from ABF to leave you hanging high and dry. YOUR WATCHING THE CLOTHS LINE BROTHER ALWAYS!
 
Muler wasn't one of the five side agreements between the IBT & ABF to let ABF out of the funds if YRC failed. So he will not be fine with the fund.
 
truxforever said:
Muler wasn't one of the five side agreements between the IBT & ABF to let ABF out of the funds if YRC failed. So he will not be fine with the fund.
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Docker and I are trying to find the other two agreements to prove that was the case to allow ABF out if yrc failed. Right now it is only speculation. Thanks YOUR BROTHER ALWAYS!
 
Muler said:
Docker and I are trying to find the other two agreements to prove that was the case to allow ABF out if yrc failed. Right now it is only speculation. Thanks YOUR BROTHER ALWAYS!
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This is what we have found so far truxforever:

On January 30, 2008, the day ABF signed the Interim Agreement, ABF and TNFINC signed four memoranda of understanding (MOU's), two of which provide that in the event that Yellow Roadway Corporation closes, ABF will not be bound by the grievance procedure mandated under the NMFA and will have use of non-union resources on terms different from those set forth in the 2008-— NMFA.

ABF MOU No. 1 establishes ABF‟s right to withdraw from the multi-employer grievance procedure in order to establish its own grievance procedure. (App. 857; Smith Decl. at Ex. A) (stating that “n the event that [YRC] closes, ABF reserves the right to withdraw from, and not participate in, the multi-employer grievance procedure in the NMFA and Supplements”). Withdrawing from the standard grievance procedure is prohibited under the YRC Labor Agreement, however. (App. 165; NMFA 2008-2013, Article 8, Section 1.) (“No Employer signatory to this Agreement shall be permitted to have its own grievance procedure.”).
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ABF MOU No. 2 would allow ABF to draw upon resources such as “purchased linehaul transportation, unlimited use of Utility Employees, controlled local cartage subcontracting, rented or leased equipment maintained by owners of said equipment.” (App. 858; Smith Decl. at Ex. B.) Utilization of these resources, however, are either prohibited or more severely restricted under the YRC/Teamsters labor agreement. (See App. 165, 116, 106, 144; NMFA 2008-2013 Art. 8, Sec. 1; Art. 32, Sec. 1; Art. 29, Sec. 3; Art. 3, Sec. 7.)
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MOU No. 3 states that ABF and the IBT will maintain an “active” Benefits Joint Committee. Provides that “the parties will maintain an active Benefits Joint Committee under Article 20, Section 3 of the NMFA to review the provision of health & welfare and pension benefits, including the collection of information on the financial status of pension funds so that ABF and TNFINC are aware of their status under the Act.” (Appendix 859).
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Here are both...the union response and TMI response:

http://www.google.com/url?sa=t&rct=j&q=memoranda%20of%20understanding%20entered%20into%20between%20abf%20and%20tnfinc&source=web&cd=1&sqi=2&ved=0CEwQFjAA&url=http%3A%2F%2Fabflegalaction.com%2Ffiles%2F2011%2F03%2FUnion-Response-Brief.pdf&ei=SyTLT5nHKaS22gXrxI3aCw&usg=AFQjCNFq5q_UFjJ6JQNls6Suoe0YaH25dA&cad=rja

http://www.google.com/url?sa=t&rct=j&q=memoranda%20of%20understanding%20entered%20into%20between%20abf%20and%20tnfinc&source=web&cd=12&ved=0CFwQFjABOAo&url=http%3A%2F%2Fabflegalaction.com%2Ffiles%2F2011%2F03%2FTMI-Response-Brief.pdf&ei=2CjLT5j_DuHg2AW-_MTZCw&usg=AFQjCNGkGPrqEuxytQjUcPkoGfsT40UziQ&cad=rja

We're still working on that 4th and trying to find the original four memoranda of understandings all together. Without the real wording in the agreement itself...all three we have are pretty vague.This is a real chore finding and this is all we have to rely on so far since ABF failed to mention the ABF MOUs in the District Court along with the IBT only mentioning two and TMI mentioning three.
 
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