No way someone buys in and pays the pension funds back contributions, Teamster brass would be thankful if they contributed after 6 months of reopening.Seniority needs reversing,( company closes you don't have any) all those looking for 3/5 years and want to swill on the tit till retirement will be working at the bottom of a ladder pay scale for 5 years at 24hr then the next 5years see increases to current scale on a 10 year contract, no more time+half after 8, only after 40.No voting on anything, Sean and John will sit down behind closed doors, lock the door, turn out the lights deal will have to be good enough and they get to tell everyone that returns be thankful you have a job and stop whining on the internet.
Yellow | Jack Cooper Making $2 Billion Bid for Bankrupt Yellow
- Thread starter Freightmaster1
- Start date
It's going to be a Jack Cooper style $150 a week into 401scam hybrid plan. How do they have Billions to buy Yellow but not pay full pension contributions? It's a shame the Union goes along with this crap just like the Auto Workers too not everyone getting pensions.
slipperysleuth
Tornadicthermalcyclogenesis, sorta..
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All you have to do is come to Truckingboards, and see why this merger killed both companies!! All you guys do it’s bitch!! jESUS!! Let it go!! Wtf?!!
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8675309
You sure are a wealth of information on this, Wayne. Is Cooper leaking it to you?
Why is Jack Cooper allowed to negotiate with other car haulers who pay full pension when Jack only pays $150 a week into 401scam?
I don't know anything about Cooper. Do you know this for a fact? Many on here are getting their underwear in a knot, and nothing has been agreed to, signed, or approved by anyone.
This is a safe environment for an individual to comes express themselves, just as you have done. You are not forced to read the posts, it’s your choice. Don’t tread on the posters.
Carry on posters.
Unless of course you don't agree with the poster then you turn on the snark and insults, correct?
For example:
The hypocrisy here is amazing at times.
"Wages and health benefits would remain the same: the major change would be a reduction in the new employer’s pension contribution."
"Going forward, members will be in the Central States Hybrid plan, and the new company will contribute $150 per week to it. (This is the big cost-savings; the present rate is $348 per week. It looks like the Central States Fund is the biggest loser in this deal.)
Members in other pension plans (Locals 557, 710, 560) will get 401(k) contributions of $150 per week in lieu of pension credits. "
Carhaulers to Vote: Jack Cooper’s Chapter 11 Reorganization as a New Company
Jack Cooper’s 2200 Teamsters will vote on a contract proposal for a new company, which would take over Cooper’s assets and work under the proposed deal. Wages and health benefits would remain the same: the major change would be a reduction in the new employer’s pension contribution.
www.tdu.org
Unions keep letting them cut these pensions.
Your link is 4 years old. Pertains to Cooper, not YRC. Do you have a link that states any of this will happen if this whole proposal happens with Yellow?"Wages and health benefits would remain the same: the major change would be a reduction in the new employer’s pension contribution."
"Going forward, members will be in the Central States Hybrid plan, and the new company will contribute $150 per week to it. (This is the big cost-savings; the present rate is $348 per week. It looks like the Central States Fund is the biggest loser in this deal.)
Members in other pension plans (Locals 557, 710, 560) will get 401(k) contributions of $150 per week in lieu of pension credits. "
Carhaulers to Vote: Jack Cooper’s Chapter 11 Reorganization as a New Company
Jack Cooper’s 2200 Teamsters will vote on a contract proposal for a new company, which would take over Cooper’s assets and work under the proposed deal. Wages and health benefits would remain the same: the major change would be a reduction in the new employer’s pension contribution.
Unions keep letting them cut these pensions.
You are right, but Jaloc has a point being this is Cooper's recent history...
At this point, it’s all speculation, there, Ted. Nothing has been put in writing by anyone. Looks like the first big step may be if the Government will extend the maturity of the $700 million.
Michigan Bill
Good luck!
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Iirc, the ibt posted the details on their website, back during jct bankruptcy. Certain locals got automatic contributions into a 401, other locals got a like amount put into the cspf hybrid plan.i don't know how it was determined who got what.
Iirc, the cspf hybrid plan was set up to be similar to Western states fund, that's adjustable to keep it solvent. I don't know if it still exists, because of the bailout.
Michigan Bill
Good luck!
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Only other ibt carhauler is cassens, so that's really not saying a lot.
I learned from the best, I’m fishing with no bait on my hook.Unless of course you don't agree with the poster then you turn on the snark and insults, correct?
For example:
The hypocrisy here is amazing at times.
I commend you on your ability to learn from the best. Too many never do.
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My bad Triplex,I forgot that the Tombstone offended you and you think sarcasm is hypocrisy. I’ll try to remember and respect your Wokeness.Unless of course you don't agree with the poster then you turn on the snark and insults, correct?
For example:
The hypocrisy here is amazing at times.
Foolish/inappropriate comments from someone who should know better don't offend me Rollback, they disappoint me. A subtle difference you apparently overlooked.