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ABF | Hoffa Statement On YRCW Efforts To Acquire Freight Division Of ABF

A deal by the Overland Park, Kansas-based trucker, which has reported six straight annual losses, may be tough given its financial situation, said Art Hatfield, a Raymond James & Associates Inc. analyst.

“I don’t think it’s serious at all,” he said in an interview. “YRC’s balance sheet couldn’t handle more debt, so I don’t know what they’re thinking in that regard. It just doesn’t make any sense,” said Hatfield, who is based in Memphis, Tennessee.

YRC Confirms Arkansas Best Offer After Deal Rejection - Bloomberg
 
That is good statement president Hoffa but when do you plane to make yrc come correct it is long over do.and what happened to the two union board members that are monitoring this sort of thing.you have a lot of work to do I would get started!
 
I hope to see Mr. Hoffa stands up this time and make YRC accountable for there disrespect for the members of ABF and YRC for this foolish act .YRC needs too account for every penny they have spent over the last four years. I truly hope the members of YRC stand up and make YRC accountable for their disrespect to them.
 
mad trucker said:
YRC teamsters need to contact there local union and have a meeting on restoring wage & pension 100%:hissyfit:
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Yea when YRC returned to profitability the wages and pension were supposed to kick back in. If YRC has money to buy AFB then the wages and pension should kick back in WTF
 
Chicago 309

I would to be the first to welcome all the the ABF workers to YRC worldwide . God help you.
 
Hoffa Statement On YRCW Efforts To Acquire Freight Division Of ABF

WELCH SAID THE BOARD MEMBERS WHERE ON BOARD WE HAVE 2 OR 3 MEMBERS ON THAT BOARD HOFFA IS A LIAR HE DIDNT KNOW BS SECONDLY HE DOSENT MENTION THE SACRAFICE OF ARE OTHER YRCW TEAMSTERS BROTHERS SHAME ON HIM...........................

.1 THIS MAY BE ANTEMPT TO GET YOU ABFERS TO VOTE YES ON CONTRACT BECUASE IF YOUR GIVE BACK IS LESS THEN OURS AND YOU VOTED IT DOWN........GUESS WHAT IF YRCW HAS A THIRD PARTY TO GIVE THEM THE MONEY TO BUY ABF , ABC MIGHT SELL THEN.... YOU WILL BE FORCED INTO OUR GIVEBACKS THEN WILL YOU GET ENDTAILED OR DOVETAILED IN AND ALOT OF ABF GUYS COULD BE OUT OF A JOB IF ENDTAILED OR IF DOVETAILED THE BOTTOM OF BOTH COMPANYS WILL BE OUT OF A JOB

WHY WOULD A THIRD PARTY DO THIS IF THERE A VULTURE FIRM ,THEY ALREADY KNOW THAT THEY WILL GET THE PROCEEDS FROM SALE OF ALL ABF OWNED PROPERTYS, YRCW WILL GIVE THEM SHARES TO HELP REPAY.IF NEEDED..... PROBABLY..................... AND YRCW WILL GET A BUNCH OF NEWER EPUIPMENT YOU GUYS HAVE BOUGHT OVER THE LAST 2 YEARS CAUSE YRCW DOSENT HAVE THE MONEY AND IS IN DESPERATE NEED OF EPUIPMENT CAUSE MAINTANCE COST ARE KILLING US.......... THEY WILL HOPE TO GET SOME OF ABFS FRIEGHT WHICH PAYS BETTER THEN WHAT WE HAUL........... AND IT ELIMNATES MORE UNIOUN AND NON UNIOUN EMPLOYES AND COST SAVINGS SUCH AS MAYBE ABF HAS NEWER BETTER SOFTWARE,AMONG OTHER SAVINGS



May 10, 2013

Press Contact


Galen Munroe



[email protected]



202-624-6904

(WASHINGTON, D.C.) – The following is the official statement of Teamsters General President James P. Hoffa regarding recent reports that YRC Worldwide Inc. attempted to acquire ABF Freight Systems.

“It is unconscionable that in the middle of the IBT's sensitive negotiations for a new contract for 6,000 ABF Teamsters, and in the context of years of continuing sacrifice by our members at YRC, that YRC would advance a secret effort to acquire ABF's freight division. This interference in the collective bargaining process is an affront to all of the hardworking men and women at both companies.

“Before YRC begins looking for acquisition targets they should first restore our members' wages and pension contributions. We have seen this kind of arrogance from YRC before. We thought they had finally learned the lessons of past management catastrophes. Unfortunately it appears they have not. We want to give credit to ABF for rejecting this gambit, and we now will demand from YRC a full accounting of the calculations and decisions that went into their latest misstep.”

Founded in 1903, the International Brotherhood of Teamsters represents more than 1.4 million hardworking men and women in the United States, Canada and Puerto Rico. Visit International Brotherhood of Teamsters | International Brotherhood of Teamsters (IBT) for more information. Follow us on Facebook and Twitter @Teamsters.
 
steppenwolf said:
I hope to see Mr. Hoffa stands up this time and make YRC accountable for there disrespect for the members of ABF and YRC for this foolish act .YRC needs too account for every penny they have spent over the last four years. I truly hope the members of YRC stand up and make YRC accountable for their disrespect to them.
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Unfortunately the time of Jimmy the Great to stand up to YRC has passed. He had a rare opportunity to hold the company accountable and actually have some say in how the company was run, how much Zollars got paid and how the Teamster workers got treated throughout this disaster but he asked for none of it. He spent his time watching out for himself and YRC completely ignoring us at all other companies, union and non. He didn't just sell out the YRC workers, he sold out the entire American freight industry. I knew this the minute it happened but I did not fully realize its affects until now. And who knows, maybe it will get worse. This is one sucker punch that was never seen coming. Thank you James P Hoffa, thank you. :notworthy: It's about time you took to your podium with your head hung low in disgrace for what you have done to us all. It's about time the words, "I am unspeakably sorry for what I have let happen to you", come out of your mouth. It's about time you declare yourself incapable of doing the job as well as it should be done for the money you are paid and resign. Unfortunately I know none of those things will happen. Sadly you feel no fault and have no remorse. Sir, it is your job to protect us and you have failed us miserably.
 
Boy and Girls, let's get real, Hoffa is the "defacto" CEO of YRCW. He has members on their board, stock in their company, Welch and Rogers as his henchmen, and Wall Street analysts as his spin doctors. He will do what is necessary to protect his interests, not necessarily ours.
 
Let's see, YRC dues=1,325,000+- per month. ABF dues=427,000+- per month. Can you guess who wins?
 
Alright.....everyone is sure there's collusion and calumny at all levels of this so-called negotiation process. Mr. Welch is either reckless by not informing his Board of Directors.....including two non-voting Teamsters.....back in March, of his offer to buy ABF................OR, they're all in cahoots. Ms. McReynolds is violating SEC law by not disclosing the offer to the SEC,.....and therefore the public,....in a timely manner,....waiting until the day of ABC corporation shareholders' meeting to....ahem,...."leak" this information to DCVelocity...........and consequentially possibly (probably.....) affecting stock price of both companies. Mr. Hoffa has two Teamsters assigned to YRCW's Board of Directors..............SPECIFICALLY to watch out for EXACTLY this sort of financial monkeyshines. Either he was informed.........and 1. did nothing........or..2. kept his mouth shut because he's in cahoots, too......or he wasn't informed,...which means......1. his own two appointees never informed him...or.. 2. his appointees were excluded from this information.........which raises the question....What else are they not being told?....And...is YRCW violating the terms of the intent of the MOU by witholding information from the Teamster appointees? When does the SEC step in with charges of blatant stock manipulation? When does the Department of Labor launch an investigation on charges of subterfuge,...and failure to negotiate in good faith? And finally.......if you were to surgically remove the morals of the entire malevolent cast of misanthropic characters in this tawdry, three-way, financial.....as one Brother put it......menage' et trois.....you would have a very microscopic package, indeed. Machiavelli......in Hell.....is laughing his infernal head off at the bumblings of these so called leaders of corporations and organizations. Stay Tuned Kiddies! ....Some savvy Labor Attorney is sharpening up his claws as we speak.......
 
"T" Shirts for Sale!...."Keep Your Lousy Hands Off My NMFA, Or So Help ME I'll Vote NO!"..........send self-redressed, stomped envelope to 1000 Louisiana Ave, Wash. D.C..... Enclose $100,000 in small, unmarked bills.....
 
canaryinthemine said:
Alright.....everyone is sure there's collusion and calumny at all levels of this so-called negotiation process. Mr. Welch is either reckless by not informing his Board of Directors.....including two non-voting Teamsters.....back in March, of his offer to buy ABF................OR, they're all in cahoots. Ms. McReynolds is violating SEC law by not disclosing the offer to the SEC,.....and therefore the public,....in a timely manner,....waiting until the day of ABC corporation shareholders' meeting to....ahem,...."leak" this information to DCVelocity...........and consequentially possibly (probably.....) affecting stock price of both companies. Mr. Hoffa has two Teamsters assigned to YRCW's Board of Directors..............SPECIFICALLY to watch out for EXACTLY this sort of financial monkeyshines. Either he was informed.........and 1. did nothing........or..2. kept his mouth shut because he's in cahoots, too......or he wasn't informed,...which means......1. his own two appointees never informed him...or.. 2. his appointees were excluded from this information.........which raises the question....What else are they not being told?....And...is YRCW violating the terms of the intent of the MOU by witholding information from the Teamster appointees? When does the SEC step in with charges of blatant stock manipulation? When does the Department of Labor launch an investigation on charges of subterfuge,...and failure to negotiate in good faith? And finally.......if you were to surgically remove the morals of the entire malevolent cast of misanthropic characters in this tawdry, three-way, financial.....as one Brother put it......menage' et trois.....you would have a very microscopic package, indeed. Machiavelli......in Hell.....is laughing his infernal head off at the bumblings of these so called leaders of corporations and organizations. Stay Tuned Kiddies! ....Some savvy Labor Attorney is sharpening up his claws as we speak.......
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They will investigate if and when a complaint is filed, not before then.
 
The crooks, shall investigate the crooks, about this crooked deal. I'm relieved to know that they will get this crooked mess straightened right out.
 
I have faith in the legal system, especially if there's a chance some attorney can make a buck off of it..........
 
canaryinthemine said:
I have faith in the legal system, especially if there's a chance some attorney can make a buck off of it..........
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Have you been drinking again? :cool: Attorneys always make money, if they win or lose, and they don't usually take your case without a retainer..well then you have the ambulance chaser type. Perhaps we can get a lawyer to take our case, how much you willing to put into the retainer fund? Shall I PM you my address and you can send me your check.....just messing wid ya!
 
I do not drink....at all. I am stone-cold sober.....so much so that my sense of humor has atrophied over the years. I can only laugh at Three Stooges type physical comedy,... subtle irony and double-entendres slip right past my withered humor-organ......Puns and similies only produce a quiver to my dry and dusty lips. Consequently, I can say, without so much as a slight smile, that I believe the Department of Labor has an attorney with some modicum of ethics.....maybe they have him locked in the basement of the Department of Justice.....that would immmediately, ...and with a self-righteous sense of the indignity imposed on the humble and noble working men and women of ABF......rise to the occasion on his (optional) white charger.......
 
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