XPO | Con-way Cares pension and health care

red dawn

TB Lurker
Credits
0
Hey dudes we got trouble comin round the corner. You hear about that big top secret meeting in texas? Attorneys are there with all the big wigs man. Word in my barn from the fos is scm told him they will be killing our pension come friday. looks like it will take affect in jan. also said we will lose our sick days and get pto time off. you know they gonna spin it real good and make it look like we're getting somthing. aslo said they are trimming back the health care from people on the ppo but made it look like 'it's cool'. Word is S. (big chief) has zero loyalty to anyone other than his wallet. fos says he heard some of the higher ups talking that S. sold us out and is worried about takin care of himself and that M. (number two chief) is rollin over. if it saves a buck and puts another in his pocket, he'll do it in a heart beat - he's another empty suit - just sales man. M. is an arrogant jerk, but he does have a strong focus on the business. We better start watching out for ourselves man. get ready, cause it's comin down. call it a rumor if you want, we'll see by next week 4 sure get ready, cause here it comes. they got over 400 million in cash reserves. Anybody been on yahoo lately and see all the millions S. and M. are cashing in while they are stipping us of ours
 
If it's true then the timing is very odd when you consider that FedEx is supposedly about to roll out their long awaited pension plan. That's OK though, I'll wear a red and purple uniform. No problem.
 
i dont believe that they will do away with the pension ,,they may drop it in favor of something else but drop it cold no way....
 
Well I would not put anything past the BIG CHIEFS..Especially after what they dished me and forced me to retire in April/05. It's called Corporate greed and Corporate America now days..Close your mouth and open your eyes and ears and you may be surprised at what you will find out..
 
i'm not surprised....

IF they do pull the pension plan on us then the sale of Con-way is going to happen and to do something so desperate means the sale has been on the table for a while now. With all the rumors floating around I would not be surprised but when you're an old-timer like myself i wonder if i can afford to retire
 
red dawn said:
Hey dudes we got trouble comin round the corner. You hear about that big top secret meeting in texas? Attorneys are there with all the big wigs man. Word in my barn from the fos is scm told him they will be killing our pension come friday. looks like it will take affect in jan. also said we will lose our sick days and get pto time off. you know they gonna spin it real good and make it look like we're getting somthing. aslo said they are trimming back the health care from people on the ppo but made it look like 'it's cool'. Word is S. (big chief) has zero loyalty to anyone other than his wallet. fos says he heard some of the higher ups talking that S. sold us out and is worried about takin care of himself and that M. (number two chief) is rollin over. if it saves a buck and puts another in his pocket, he'll do it in a heart beat - he's another empty suit - just sales man. M. is an arrogant jerk, but he does have a strong focus on the business. We better start watching out for ourselves man. get ready, cause it's comin down. call it a rumor if you want, we'll see by next week 4 sure get ready, cause here it comes. they got over 400 million in cash reserves. Anybody been on yahoo lately and see all the millions S. and M. are cashing in while they are stipping us of ours
They just passed a new law that company's have to keep there promises when it come to pensions,On the other hand we told you so.
 
yes gov they did pass a law saying all companies with traditional pensions have to fund them and keep them funded...WHAT A CONCEPT !!! how are they going to pay for all the rebranding of equipment ?? they preach honesty and integrity but do THEY practice what THEY preach ?? to be totaly honest i was never planning on getting a pension from conway...if you read the benifits book , they tell you they can stop ,change ,terminate any benifit any time for any reason !!the conway way baby...i really think we would be better off with just a 401k , but with alot better match...at least i know where i stand with that..look out for yourself ..see ya at a reship somewhere
 
well if you think about it ,...if conway does and i use the term DOES lightly,..do away with the pension .i can tell you not to many people will be working here anymore. alot fo peopel including my self are here for the pension .not the trhil and fun of the job,..the job sucks period the supervisors suck,the whole company sucks.. its sad they have us all by the gonads waving the accelrated rate of pay in front of us every thursday!
 
Con-way Cares...

I was on vacation last week and this week comin so sorry for the slow response. Look, the reality is we'll know exactly what it is when they anounce it. Talked to friend at XCL barn and he said word is strong around there. Said not only is the pension gone, but so are all sick days. going to pto days or somethin like that were we will have 5 paid days off and lose our personal days we pay for and all sick days. Looks like the new 'pesnion' is us paying more out of our pocket into the new 'plan' or we get nothing. For the skeptics, look who's gettin takin care of man! Big chief, poor fool, has a hard time paying for his house payment so the company is paying 10,000.00 A MONTH towards his house payment! Go to YAHOO financials, it's all there. number 2 chief gets his golf club membership and airline membership paid for because at over 1 million a year in pay, stock options, etc... poor fool can't afford it, yet we don't have money to continue our pension???? Nearly 500,000,000.00 in CASH in the coffers... Fellow DSR's, if you don't wake up NOW, it will be too late. Look what's happening around us. business is dropping off like never before, we ain't getting hours, threathened wiht our jobs, equipment is getting rattier and rattier, managers and ae's and mad all the time..... ICP is almost gone... all this while we pay for big chiefs house payment, many offices and compay cars for him.... Standby, it's comin. October all the HR folks will be gettin togther for blitz 'spin' campaign so say the word from the ohio barn. Don't buy it. Ask an ae what the name of the lastest sales program is: SPIN SELLING. Man, they are so arrogant we are even openly calling our selling effort to our CUSTOMERS SPIN SELLING!! talk to some of the old cf'ers in you barn, see if this looks like old red and green before the fall!
Nothing would make me happier then to be wrong here, unfortunately I'm not. It will be out in about a month.
 
red dawn

nothing conway does from the time I retired on 4/05 surprises me. I just hope you drivers band together, as a team you are strong, as an individual you are NOT. Conway has the cash to even pay-off a circuit Judge...ask me I will tell you...I have the paper work to back it up...
 
gov said:
They just passed a new law that company's have to keep there promises when it come to pensions,On the other hand we told you so.
Another part of the law allows the companies to terminate the pensions. DuPont is a perfect example. Any company, non union or union, with a single employer pension fund, controlled by the company can now pull this rabbit out of the hat.

DOVER, Del. // Chemical manufacturer DuPont Co. said yesterday that it will begin to phase out fixed-benefit pensions for 29,000 U.S. employees in 2008 and shift to an enhanced 401(k) savings plan while decreasing dependence on its traditional pension plan to reduce retiree costs.

http://www.baltimoresun.com/busines...,0,3087441.story?coll=bal-investing-headlines
 
red dawn said:
Talked to friend at XCL barn and he said word is strong around there. Said not only is the pension gone, but so are all sick days. going to pto days or somethin like that were we will have 5 paid days off and lose our personal days we pay for and all sick days. .
Red Dawn you might be right about the sick days . Western has had 5 PTO (paid time off) days for some time
 
I'm Not Ready to Jump From the Sinking Ship

things are a changing, that's for sure. Freight Central will see many changes for January. Corporate is trying to streamline the three divisions and their individual policies. Central is leaning towards Western's sick days/paid days and all three want to keep their indiviual safety programs. As far as pension plans, this is not just Con-Way, but nationwide. The Kansas City Star has a good article on the recent changes in federal law and pensions. Bottomline, you better increase your contributions to your 401k. Follow this link to read the news article.
 
TheBigR said:
Another part of the law allows the companies to terminate the pensions. DuPont is a perfect example. Any company, non union or union, with a single employer pension fund, controlled by the company can now pull this rabbit out of the hat.

DOVER, Del. // Chemical manufacturer DuPont Co. said yesterday that it will begin to phase out fixed-benefit pensions for 29,000 U.S. employees in 2008 and shift to an enhanced 401(k) savings plan while decreasing dependence on its traditional pension plan to reduce retiree costs.

http://www.baltimoresun.com/busines...,0,3087441.story?coll=bal-investing-headlines


I was watching a show last night about retirement, for each $12,000 a year to live on you would need $300,000 in savings. So I guess if I would like to retire on $60,000 a year, I would need $1,500,000 in my 401k. My 401k better grow a lot more than it has to meet these goals. I just now back at where I was when the stock market went down the last time.
 
Con-way Makes Amedical Change

well the post about the medical being changed is right , i am brutus61 and i work at the USA SERVICE center, i used to have the PPO plan and then they CON-WAY switched me to the OPEN NETWORK, supposed to be cheaper for your copays ,, yeah right. i knew something was up when conway changed thier name , something was going to change beside the name well the medical for 1 is a done deal, i have been with cwx for 12yrs , and i see the road getting a lot bumpier, by the way i am not related to brutus, its just that we have almost the same name and differnt service centers , advise if you have anymore info on the up coming (shaft) i mean changes lol thanks :mfight: :bye1:
 
Look man, all i'm sayin is they are going to take away from us AGAIN!!! Yeah, I know that goofball president signed into law ways to make it easier for companies to shaft us. But I'm tellin ya, just because you can doesn't mean you should. Why, if they are so worried about expenses it is O.K. to pay for the big chiefs house payments when he's makin well over a million dollars a year PLUS multiple company cars, multiple offices, etc... and all the rest of the big - big cheeses get all that money. The big cheese at central made over 800,000.00 last year. And we make 40 - 50??? O.K., fine, but why when they are making all that money and the company is sitting on so much cash and we're making so much profit, YES, EVEN THOUGH BUSINESS IS DOWN, look how much profit is being generated any... so WHY do they keep hitting the smallest guys like us. When they are in their multimillion dollar homes and villas in florida and God knows where else in retirement paying $100.00 a plate for an evening out wiht the old lady, we're going to be worried about where the next $$$ is coming from to pay our health bill cause we got no coverage in retirement. I've been in the union and I've been out of it. theres a time and place for everything. Those of you that are reading this better pay real close attention to what fisherman xja is saying. Open your eyes and your ears and starting fishing through the bunk they are feeding us. Look at that what the net result is and NOT the spin they keep putting out there. I've worked for a lot of companies and I NEVER thought I'd see the spin coming out of this company like it is. Remember INTEGRITY is our first fallen star!!!!
 
Top