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FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees

Freightmaster1

Freightmaster1

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www.whitehouse.gov

FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees | The White House

American Rescue Plan prevents pension benefit cuts of roughly 60% in the next few years for over 350,000 Central States Pension Fund workers and retirees
www.whitehouse.gov www.whitehouse.gov

PBGC Approves SFA Application for Central States Plan | Pension Benefit Guaranty Corporation

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Central States, Southeast & Southwest Areas Pension Plan (Central States Plan). The application was submitted...
www.pbgc.gov www.pbgc.gov

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I don't know what to tell folks like you anymore. If you have been going to the union meetings, if you have been listening to the retirees in your area, had you be paying attention to ALL the posts on here for the last 7 years, you would know WHY the Feds had no choice put to restore the multi-employer Pensions by passing the Butch Lewis Act. The Feds caused the problem when they deregulated trucking and President Reagan Trusteed CSPF (which many of YOU are in) so you should be glad there were old timers who fought to assure you have a Pension that is protected until 2051. NOW, it is YOUR responsibility to fight for Pension Premiums to be increased in the next Contract and VOTE NO on any Contract that does not restore the Pension Benefits! We fixed 80% of the problem, the other 20% of it needs to be fixed by those still there working!
 
Kennesaw Kid said:
I don't know what to tell folks like you anymore. If you have been going to the union meetings, if you have been listening to the retirees in your area, had you be paying attention to ALL the posts on here for the last 7 years, you would know WHY the Feds had no choice put to restore the multi-employer Pensions by passing the Butch Lewis Act. The Feds caused the problem when they deregulated trucking and President Reagan Trusteed CSPF (which many of YOU are in) so you should be glad there were old timers who fought to assure you have a Pension that is protected until 2051. NOW, it is YOUR responsibility to fight for Pension Premiums to be increased in the next Contract and VOTE NO on any Contract that does not restore the Pension Benefits! We fixed 80% of the problem, the other 20% of it needs to be fixed by those still there working!
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Get your facts straight. Deregulation began with the Surface Transportation Act of 1980. That was Jimmy Carter. Reagan became President on January 20, 1981
 
Hookman said:
Hey Blade how ya been? Wife kick you out so your back here with us peasants starting crap again? :17142:
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I logged in as a guest and saw how boring this site was without me. Same old dumb stuff.
Yellow can't afford toilet paper, but the union should make them fully fund the pensions. Yellow is going broke because of management. ABF is profitable because of the employees not because they are well run by capable managers. Drivers are too good to work the dock and expect to be paid to sit on their butts doing nothing. Dock only should be paid drivers wages. ABF made a profit, and the Teamsters think it belongs to them. Big time COLA raise combined with yearly contractual raise might push Yellow into bankruptcy, but we still want the 15% back. My guess is that Yellow withdrawals the COO just like CF did two weeks before they shut the doors.
I will check in from time to time just to see if the conversation is more intelligent than mirrors and complaining about overpaid executives.
 
Razorblade said:
I logged in as a guest and saw how boring this site was without me. Same old dumb stuff.
Yellow can't afford toilet paper, but the union should make them fully fund the pensions. Yellow is going broke because of management. ABF is profitable because of the employees not because they are well run by capable managers. Drivers are too good to work the dock and expect to be paid to sit on their butts doing nothing. Dock only should be paid drivers wages. ABF made a profit, and the Teamsters think it belongs to them. Big time COLA raise combined with yearly contractual raise might push Yellow into bankruptcy, but we still want the 15% back. My guess is that Yellow withdrawals the COO just like CF did two weeks before they shut the doors.
I will check in from time to time just to see if the conversation is more intelligent than mirrors and complaining about overpaid executives.
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Uhhhhh………and you have a great day as well!!!
:lmao: :lmao::lmao:
 
Razorblade said:
I logged in as a guest and saw how boring this site was without me. Same old dumb stuff.
Yellow can't afford toilet paper, but the union should make them fully fund the pensions. Yellow is going broke because of management. ABF is profitable because of the employees not because they are well run by capable managers. Drivers are too good to work the dock and expect to be paid to sit on their butts doing nothing. Dock only should be paid drivers wages. ABF made a profit, and the Teamsters think it belongs to them. Big time COLA raise combined with yearly contractual raise might push Yellow into bankruptcy, but we still want the 15% back. My guess is that Yellow withdrawals the COO just like CF did two weeks before they shut the doors.
I will check in from time to time just to see if the conversation is more intelligent than mirrors and complaining about overpaid executives.
Click to expand...
Blade what are we going to do with you? These boards are called Truckingboards, started by a truck driver and geared (no pun intended) towards truck drivers and dock workers.... If I gave a sh*t about management, I would find a site called Truckingexecutives started by a CEO and go there....good luck with finding that board Blade, and trust me when I tell you that you really don't make these boards any better than any other poster, so deflate that huge head of yours so you can make it out the door....
Work Morning GIF
 
Razorblade said:
I logged in as a guest and saw how boring this site was without me. Same old dumb stuff.
Yellow can't afford toilet paper, but the union should make them fully fund the pensions. Yellow is going broke because of management. ABF is profitable because of the employees not because they are well run by capable managers. Drivers are too good to work the dock and expect to be paid to sit on their butts doing nothing. Dock only should be paid drivers wages. ABF made a profit, and the Teamsters think it belongs to them. Big time COLA raise combined with yearly contractual raise might push Yellow into bankruptcy, but we still want the 15% back. My guess is that Yellow withdrawals the COO just like CF did two weeks before they shut the doors.
I will check in from time to time just to see if the conversation is more intelligent than mirrors and complaining about overpaid executives.
Click to expand...
Well glad to see your still special. I'll keep an eye out for you & the Blade pearls of wisdom. :hilarious:
 
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Razorblade said:
I logged in as a guest and saw how boring this site was without me. Same old dumb stuff.
Yellow can't afford toilet paper, but the union should make them fully fund the pensions. Yellow is going broke because of management. ABF is profitable because of the employees not because they are well run by capable managers. Drivers are too good to work the dock and expect to be paid to sit on their butts doing nothing. Dock only should be paid drivers wages. ABF made a profit, and the Teamsters think it belongs to them. Big time COLA raise combined with yearly contractual raise might push Yellow into bankruptcy, but we still want the 15% back. My guess is that Yellow withdrawals the COO just like CF did two weeks before they shut the doors.
I will check in from time to time just to see if the conversation is more intelligent than mirrors and complaining about overpaid executives.
Click to expand...
Checking in on the cattle who make your money again?


Why did Yellow Freight merge with Roadway, who owned New Penn, and then buy USF?

Why do you think they did that?

Why did 2 companies buy 3 more companies, most of which, were all NMFA companies?
 
ABF381 said:
Blade what are we going to do with you? These boards are called Truckingboards, started by a truck driver and geared (no pun intended) towards truck drivers and dock workers.... If I gave a sh*t about management, I would find a site called Truckingexecutives started by a CEO and go there....good luck with finding that board Blade, and trust me when I tell you that you really don't make these boards any better than any other poster, so deflate that huge head of yours so you can make it out the door....
Work Morning GIF
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My mistake. I thought this board was dedicated to the trucking industry. How strange that nearly every post on the Yellow Forum blames management for all the problems but it's not a board to talk about management.
The high-cost unionized business model is unsustainable in the completive 21st century transportation industry.
 
slavenomore said:
Checking in on the cattle who make your money again?


Why did Yellow Freight merge with Roadway, who owned New Penn, and then buy USF?

Why do you think they did that?

Why did 2 companies buy 3 more companies, most of which, were all NMFA companies?
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Yellow Corporation was founded as a holding company when Yellow bought unionized Preston Trucking. It's the same formula as banking. The industry consolidates to lower overhead and eliminate redundant services. The theory is simple. Roadway and Yellow both run a P&D truck to small town America. Both come back half full. Merge and send only one truck and one driver to an area.
Companies only fail when costs exceed revenue. Trucking companies manufacture nothing. They have no product to sell. They only have labor intensive service to sell, and they have no control over the cost of contractual labor. They also have no control over revenue because they must compete on pricing and service.
Manufacturing jobs were not "sent" overseas. Manufacturing was forced to move offshore to compete in the global economy. The American worker learned nothing. Workers still continue to price themselves out of a job by demanding more than the employer to pay.
 
Razorblade said:
Yellow Corporation was founded as a holding company when Yellow bought unionized Preston Trucking. It's the same formula as banking. The industry consolidates to lower overhead and eliminate redundant services. The theory is simple. Roadway and Yellow both run a P&D truck to small town America. Both come back half full. Merge and send only one truck and one driver to an area.
Companies only fail when costs exceed revenue. Trucking companies manufacture nothing. They have no product to sell. They only have labor intensive service to sell, and they have no control over the cost of contractual labor. They also have no control over revenue because they must compete on pricing and service.
Manufacturing jobs were not "sent" overseas. Manufacturing was forced to move offshore to compete in the global economy. The American worker learned nothing. Workers still continue to price themselves out of a job by demanding more than the employer to pay.
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Manufacturing left.
And "service oriented" jobs took over

So our whole economy is just like trucking

The American worker should not have to compete with Third World Labor nor communists just because investors want to rule the world.
Land is more expdnsive in America than in most countries.
Therefore proving ourselves out of a job leaves not owning a home.

Where's the incentive?

Our terminals are everywhere in the country

Some places are more expensive to live than others.
 
Razorblade said:
Yellow Corporation was founded as a holding company when Yellow bought unionized Preston Trucking. It's the same formula as banking. The industry consolidates to lower overhead and eliminate redundant services. The theory is simple. Roadway and Yellow both run a P&D truck to small town America. Both come back half full. Merge and send only one truck and one driver to an area.
Companies only fail when costs exceed revenue. Trucking companies manufacture nothing. They have no product to sell. They only have labor intensive service to sell, and they have no control over the cost of contractual labor. They also have no control over revenue because they must compete on pricing and service.
Manufacturing jobs were not "sent" overseas. Manufacturing was forced to move offshore to compete in the global economy. The American worker learned nothing. Workers still continue to price themselves out of a job by demanding more than the employer to pay.
Click to expand...
And cost will always exceed revenue when paying interest....just like the banks.
Control thru debt.
Profit thru debt.
Profit thru concessions.
Something along them lines.

And by some investors and maybe some APA owners and some banks and some shippers a way was conceived to control the costs of the industry thru that debt.
Due to Teamsters taking concessions, a cap is put on wages throughout the industry. Maybe not a definitive cap...but a limit, nonetheless.
And other standards such as utility Bids and road working dock and all companies pulling doubles...conceded are necessary to pay down that debt to stay in business in order for teamsters to keep their jobs and union density numbers.

Was it a plan?
Idk.
I wouldn't doubt it.
They're not very trustworthy imo.
 
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