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XPO | FedEx Freight, Con-way Freight Workers Reject Teamsters

Pup Driver said:
I address this subject once b/4 It wasn't the union restrictions that put the union carriers out of business after deregulation . What happen was the carriers used their rights / operating authority as collateral so they could up date terminals and add new ones ,they bought new fleets road and city power. These permits where worth millions . When Carter signed the deregulation act for trucking it also wiped out the collateral and the banks panicked and called in the loans . The companies couldn't come up with the money so they filed for bankruptcy . The companies like C F , Roadway and Yellow that had a lot of cash survived . I don't think Roadway ever borrowed money . Yellow and Roadway both would be doing just fine if not for Bill Zollars .I don't know where you read this but I lived under regulation for many a year and deregulation as well . And as an employee regulation was better . The companies,customers and employees did fine .:1036316054:
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Deregulation caused Carter the election, well, there were other things too, but that was the first nail in his coffin..
 
It was more the Panama Canal, Haitian Boat People, and letting Castro send all of his Criminals to Miami
 
Starkravinloon said:
I can remember when 401K's came in and companies opted their pensions in lieu of the 401K plan.. That's when I started my own IRA that my wife and I manage to this day.. I see your point and the pension does a wonderful thing, but the 2 companies that I have worked for, for last 25 years have disbanded their pensions.. I am still vested in those pensions as well as a Teamster pension... It will take a Philadelphia lawyer to figure out how to get my pensions come time for me to draw on those other two companies... I seen this, and that's when my wife and I stared the IRA plan.. We have enough in the IRA at this point, if I were to totally retire and sell the store, we could live very comfortable in our years left...

But you're absolutely correct, if I were a young man, or thought I had 25 years left me, I would go pension, but it would be mathematically thought out very seriously...
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That's the beauty of multiple streams of retirement income. I thank my lucky stars for having a pension along with personal accounts. I would like to thank my late father for showing me the light years ago.

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