nobodyinparticular
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XPO | How about the big service centers?
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RoadRage76
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Well...possibly. But DSR's that were around before 2006 still have pensions, albeit frozen ones. They stopped growing, but are still fully funded, and will get paid. The ones hired after have a 401...3% contributed by the company...4 or 5% if you were here long enough. It's not just our company - it's the economy. How many other companies got their pensions bailed out to only pay a percentage of what they would have had? It's a new world...I just hate to see our company become another casualty of a last ditch effort by the Teamsters to find fresh meat to fund their mess of a plan.
Steward of the Rock
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The $3000 a month pension being paid at $1200 a month that you are refering to is if Central States falls below a certain funding percentage and is taken over by the Pension Benefit Guarantee Corp (PBGC) which is a government program to make sure that if a multi-employer Pension Fund does fail, then these people would atleast get part of their pension paid to them instead of losing it all. That has not happened with Central States and I can assure you that anyone currently or in the past that has retired is drawing the amount they were when they retired beit $3000 a month or whatever they had earned on their retirement date. And, like someone else has already mentioned, even if the PBGC did take it over, these people would still get $1200 a month. I am only a guest on this forum as I work for ABF, but I felt the need to clarify this issue about the Central States Pension Fund paying reduced amounts to retirees. It may happen in the future, but it has not happened yet.
con trucker
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I keep reading that unions runs companys into the ground all i can say is what? Lets see ABF still good UPS and UPS Freight still good oh and by the way USF Holland made a great profit before YRC ruined them.The union didnt ruin YRC they did by making a bad decisions on by companies they should not have.The union workers are victims of bad management decisions made by YRC.But your leaders would like to play on all the people who have never been union so they fill your head like a bunch of greenhorns just getting started in trucking.I dont care how long anyone has worked at conway if you havent been a teamster you dont know anything on the subject only what your told or read.
slimestones
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hmmm.............in addition to their pensions they also have a 401k,hhmmmmm.......................1200 a month or ZERO......................i think i'd take the 1200...............................hhmmmmmm,don't agree unless you get a separate pension fund like UPS FREIGHT................BRILLIANT
P!ss-poor management and greedy Boards of Director's have a much larger impact on "running trucking companies in the ground"!
Time is getting closer and closer. All the fence straddlers need to be getting close to making a decision I would think, because UNITED WE STAND and divided we fall. As in the movie Gladiator, stand together, should to should, shield to shield and we will prevail. GO TEAM TEAMSTERS!!!!!!!!
RoadRage76
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....and then trip and fall on your swords. :-) (Sorry - I had to...)
But the union didn't do YRC any favors either. I followed the process through which finally brought about the overall 15% paycut and reduced pension benefit. When the company came to the Teamsters and asked for the reductions, they fought it, continuing to work at top pay all while their company was bleeding cash. It took a considerable amount of time to round up enough yes voters for the first and second round of benefit reduction votes. YRC might be better off now, if they could have done what our company did and just cut wages/benefits without having to ask permission from their employees. They are still working for reduced pay and we our not. Our stock is trading in the high thirtie's to low fourties, they continue to teeter on the brink of bankruptcy. Did the union cause this to happen? No. Could the union have done something sooner to reduce the company's payroll? Yes, and they didn't.
nobodyinparticular
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Yellow didn't do anybody any favors by purchasing Roadway. They got themselves in their own mess. You're right YRC drivers are working for reduced pay. About $2.50 less on the hour compared to us. They also have a terrific health package. Cost to the drivers is $0.00. Copays are $20. The Holland driver at our last meeting said he would still take what they have over what we have because the benefits are better. It may have taken longer because the union gets to open the books to make sure its all legit. They also asked management to give things back. I'm sure that took some time also.
On a side note. In allot of your posts you say how Conway isn't financially stable enough to give anything back. Yet you use the fact our stock is doing well to discredit YRC. Which is it? Are we or are we not doing well?
He contradicts often hoping no one will notice. Sometimes the need to win the argument far outweighs the want for common sense.
slimestones
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if you read his posts EVERY ONE CONTRADICTS ITSELF,to bad more people don't notice,if he's not management i just can't explain it,it's exactly how the uppers are TAUGHT to speak.
you did not answer the question!!! he didn't contradict himself . you just don't want to answer, now who is contradicting themselves...
opps, sorry that was aimed at ldgarrit
Cost to YRC drivers for health insurance is not zero when you factor in weekly union dues. Shuffle it around on paper how you want, if a guy is paying 50 bucks a week for dues, it's still over 200 a month out of his bottom line. On a side note, I don't think a high stock price means that the company is flush with cash, and going back over the last couple of years, the financial statements would indicate that they operated at a loss a few quarters back and are just now starting to turn profits again. I used stock price as a reference because I wanted illustrate the difference between the two companies, and it's my opinion that had YRC not been strapped to a union contract, they could have moved quicker to reduce costs (enact wage/benefit cuts) and that perhaps their stock price would at least be somewhat respectable by now.
thank you for answering , first of all union dues are not 50 dollars a week,they are about 55 dollars a month, so that is under 2.00 a day if you want to break it down. second you are correct ,conway has operated at a loss for a few quarters,but that was by choice.conway, fedex both lowered their rates hauled freight at a loss trying to get yrc customers in hopes of putting yrc out of bussiness. third, yrc was 800 million in debt, this was caused by poor management not the union. thank god the union was there to protect the workers if not yrc employees would be working for a lot less than they are now. and remember yrc employees took 2 paycuts by their choice, did conway employees have a choice? i don't think so
