Yellow | Extension of Pension Contribution Deferrals? ( YRC Teamster Poll)

No way I can vote yes this time. Let Tyson , Jimmy, and all the rest of the suits claim that YRC will close if they do not get this. I don't care anymore. I have worked for Yellow/YRC for 25 years. Enough is enough. You can only bend a man over a barrel so many times. Time to draw a line in the sand, brothers and sisters. I will take my 2 years of unemployment and go look for something else to do. If they cannot make this work with all the extra $$$ we gave them then this company is doomed. $$ Bill looks like a genius to the top brass because WE GIVE HIM EVERYTHING HE ASKS FOR!!!! Start the staring match. Its time he blinked first. :duel:
 
funny how u work all these years for a TEAMSTER UNION COMPANY and have to deal with all this BS....cmon now the reason why we work for UNION is job security RIGHT?...NOW there screwing with the pension again....

heres a thought...................kiss my :buttkisser:
 
[quote author=vwaggs link=topic=79828.msg832840#msg832840 date=1274800299]
Give me an equal amount in voting YRCW stock. By making their interests our interests again, we will prosper.
[/quote]
If they gave you 100% of the stock now, they could change that to 5% next week. What good would that do?
 
By Jan 2011, the funds will have sunk from endangered status to seriously endangered to critical to OMG default status and some changes will be made by the fund trustees without any approval required by the new pension law act. If you're vested but do not work 12 consecutive months prior to commencement of your retirement you will be considered an inactive vested participant and a monthly benefit will no longer available to you. You need to work 750 hrs to be reinstated. You may need to work till your 64 to cash in. The list of changes is long and not pretty. Talking NE Pension..Central must be similar
 
[quote author=stpinindy link=topic=79828.msg832879#msg832879 date=1274816118]
[quote author=vwaggs link=topic=79828.msg832840#msg832840 date=1274800299]
Give me an equal amount in voting YRCW stock. By making their interests our interests again, we will prosper.
[/quote]
If they gave you 100% of the stock now, they could change that to 5% next week. What good would that do?
[/quote]
If you look at the amount of pension contributions, compared to the stock price, we could easily buy up enough extra on our own to become major shareholders. he deal would need to be organized in that manner for me to agree.

If WE were the major shareholder, all decisions would be made in a manner to PROTECT our futures. Would you buy $10,000 of YRCW to assure your job?
 
[quote author=vwaggs link=topic=79828.msg832913#msg832913 date=1274822553]
[quote author=stpinindy link=topic=79828.msg832879#msg832879 date=1274816118]
[quote author=vwaggs link=topic=79828.msg832840#msg832840 date=1274800299]
Give me an equal amount in voting YRCW stock. By making their interests our interests again, we will prosper.
[/quote]
If they gave you 100% of the stock now, they could change that to 5% next week. What good would that do?
[/quote]
If you look at the amount of pension contributions, compared to the stock price, we could easily buy up enough extra on our own to become major shareholders. he deal would need to be organized in that manner for me to agree.

If WE were the major shareholder, all decisions would be made in a manner to PROTECT our futures. Would you buy $10,000 of YRCW to assure your job?
[/quote]
NNNNNOOOOOOO!!!!!!!!
 
Re: Extension of Pension Contribution Deferrals? ( YRC Teamster Poll)

The union itself should buy up all that it can

Sent from my MB200 using Tapatalk
 
The best idea would be for our Brothers, in partnership w/the union, form an investment group and once financing is in place, do a tender offer to buyout. This would assure we obtain control.

Even if the union were only to coordinate the effort on behalf of its YRC members, making them front the funds before a tender offer is made, it might be workable.
 
[quote author=vwaggs link=topic=79828.msg833572#msg833572 date=1275060147]
The best idea would be for our Brothers, in partnership w/the union, form an investment group and once financing is in place, do a tender offer to buyout. This would assure we obtain control.

Even if the union were only to coordinate the effort on behalf of its YRC members, making them front the funds before a tender offer is made, it might be workable.
[/quote]

a while ago when i was on my way to the hotel on a run, the fellow driving me there was talking to some other drivers , the guy seemed to have a good head on his shoulders and did not seem to talk out of his a$$ . he mentioned something like that , employed owned ?
 
[quote author=roadway77 link=topic=79828.msg833586#msg833586 date=1275064383]
[quote author=vwaggs link=topic=79828.msg833572#msg833572 date=1275060147]
The best idea would be for our Brothers, in partnership w/the union, form an investment group and once financing is in place, do a tender offer to buyout. This would assure we obtain control.

Even if the union were only to coordinate the effort on behalf of its YRC members, making them front the funds before a tender offer is made, it might be workable.
[/quote]

a while ago when i was on my way to the hotel on a run, the fellow driving me there was talking to some other drivers , the guy seemed to have a good head on his shoulders and did not seem to talk out of his a$$ . he mentioned something like that , employed owned ?
[/quote]

The Big Picture is this...

There is only so much pie to go around.

Most of the pie has been eaten. We cannot change that. All we can do is fight for our share of the pie that is remaining and what is coming out of the ovens.

We are in competition for this with Banks, Shareholders, YRCW upper management, repair facilities and oil companies. If we become the Shareholders, we run YRCW upper management, pay off the banks (get back onto a non debt process), then all we need to deal with are repair facilities and oil companies.

That is simplifying things, however, all things being equal, we get more job security and continue to eat our pie.
 
[quote author=vwaggs link=topic=79828.msg833597#msg833597 date=1275069888]
[quote author=roadway77 link=topic=79828.msg833586#msg833586 date=1275064383]
[quote author=vwaggs link=topic=79828.msg833572#msg833572 date=1275060147]
[/quote]

The Big Picture is this...

There is only so much pie to go around.

Most of the pie has been eaten. We cannot change that. All we can do is fight for our share of the pie that is remaining and what is coming out of the ovens.

We are in competition for this with Banks, Shareholders, YRCW upper management, repair facilities and oil companies. If we become the Shareholders, we run YRCW upper management, pay off the banks (get back onto a non debt process), then all we need to deal with are repair facilities and oil companies.

That is simplifying things, however, all things being equal, we get more job security and continue to eat our pie.
[/quote]

If you think pooling the YRC Teamsters (yeah, try to herd cats) into paying to pay off Zollars and JP Morgan Chase is doable, vwaggs, well, sorry, but you must be due for a random drug test??????? :biglaugh: :biglaugh:
 
[quote author=Italian Style link=topic=79828.msg827091#msg827091 date=1273023424]
I put a check mark on NO, but in reality it will pass again. No one will be able to make more $ anywhere else.
[/quote]
Don't tell me that reality has affected your opinions. :chairshot: NO way am I happy about the situation at YRC, however with 22+ years (5 weeks vacation, 13:00 start, and full scale -15%) I won't do any better ANYWHERE else. :cry:
 
[quote author=thejoe link=topic=79828.msg832883#msg832883 date=1274817209]
By Jan 2011, the funds will have sunk from endangered status to seriously endangered to critical to OMG default status and some changes will be made by the fund trustees without any approval required by the new pension law act. If you're vested but do not work 12 consecutive months prior to commencement of your retirement you will be considered an inactive vested participant and a monthly benefit will no longer available to you. You need to work 750 hrs to be reinstated. You may need to work till your 64 to cash in. The list of changes is long and not pretty. Talking NE Pension..Central must be similar
[/quote]

So excuse me for saying this-- BUT-- if this is adopted, Hoffa may as well close the doors. There will never be another organized company, or recruit-- for they will figure they have a chance to never see a dime in pension. Take my own for example. Yellow laid me off 24 months ago. I was 54. 22 years paid into pension. On the way home I stopped by the Hall-- took a Withdrawl Card (Teamsters Hall advise, they actually still owe ME a month's dues...); been laid off 18 months, aged 56. Have a good job to retire from in ten years or so. Teamsters had told me I should expect 2400 or so at age 65, unless the GPGBoard takes over-- then it could go as low as 800. Under this scenario--- I look forward to.....$0.00!!!!!!!!

Can't take early retirement-- Pension Rules, since I'm still driving....


Thanks, Teamsters Pension Board.....
 
[quote author=vwaggs link=topic=79828.msg833597#msg833597 date=1275069888]
[quote author=roadway77 link=topic=79828.msg833586#msg833586 date=1275064383]
[quote author=vwaggs link=topic=79828.msg833572#msg833572 date=1275060147]
The best idea would be for our Brothers, in partnership w/the union, form an investment group and once financing is in place, do a tender offer to buyout. This would assure we obtain control.

Even if the union were only to coordinate the effort on behalf of its YRC members, making them front the funds before a tender offer is made, it might be workable.
[/quote]

a while ago when i was on my way to the hotel on a run, the fellow driving me there was talking to some other drivers , the guy seemed to have a good head on his shoulders and did not seem to talk out of his a$$ . he mentioned something like that , employed owned ?
[/quote]

The Big Picture is this...

There is only so much pie to go around.

Most of the pie has been eaten. We cannot change that. All we can do is fight for our share of the pie that is remaining and what is coming out of the ovens.

We are in competition for this with Banks, Shareholders, YRCW upper management, repair facilities and oil companies. If we become the Shareholders, we run YRCW upper management, pay off the banks (get back onto a non debt process), then all we need to deal with are repair facilities and oil companies.

That is simplifying things, however, all things being equal, we get more job security and continue to eat our pie.
[/quote]
Thats how it should have gone down in the first place, but they are greedy. They knew that they could screw over the bond holders and the Teamster owners. It would still be pretty cheap to buy it today. $368 million divided by 23,000 teamsters is only $1600. I got $1600? Maybe twice that if they pay off the remaining debt.
 
more give backs.....have we forgotten what has happend so far! we traded stock for pay, and the stock is worth next to nothing....we gave up pension and we are not getting it back! the are 22000 of us laid off...the usf network is hiring at most all terminals. glen more is offering sign on bonus up to $2500. salespeople are being let go as fast as hey can eat a doughnut...reddaway still has not taken a pay cut....this is a company that does not want us here anymore! why would anyone want to vote to keep it alive...i will trade nothing for the hope that this company wants 2 keep us...zollar has a great reccord...eastern airlines gone! ryder/pie gone! preston..... gone! jevic.....gone! kodak survived but firing zollar fiist.....and saia was sold and survived! wow....people wake up there is no plan for us to survive......as long as zollar is incharge we will fail......
 
A couple Union Reddaway shops in the Northwest have not taken a pay cut the rest of us have! every other Reddaway Terminal took the 15% cut just like you, so at least keep the facts straight. We are no better off in this crap than you, we were alot better off before YRC bought us and gutted us. The only reason our Denver terminal is hiring is because so many are leaving.
 
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