True. Also remember the banks are borrowing money for free from the fed.
Yellow | My 2 cents worth on what went on
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True. Also remember the banks are borrowing money for free from the fed.
Exactly, are teamsters screwing themselves if they vote yes..... or no.
It's too bad that we can't demand that our Teamster 'leaders' go to the lenders themselves, make it known how this company wastes money & that our givebacks won't change that. That we won't agree to everything that they're asking for, for the length of time they want, but that we would entertain an amended proposal. Just too bad, because I don't think this one is going to pass; and I really wanted some of my pension. It's a good thing I've moved on to a nonunion job & started on a 401K, probably not enough time to build an adequate one for retirement, but what's about to happen to our pension is going to be shocking.
Again, nice try. Most of CF's business was transferred to Conway. CF went belly up because they lost their customers to Conway. You must be management to keep up this charade of trying to misdirect the facts and rewrite history.
Vwaggs i got 25 years in this Union and a person would have to be blind or dumber than a box of rocks not to see whats happening, yeah go ahead and blame the company because the union has really stood up for us.Like I said if you are retired this is not you're call.
wild thing
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Here are some of my facts.Because the pension first freeze I was planing to retire in two years,now who knows.but the first freeze cost me $280 a month in pension if I stay till 2015 it will cost me is pension lose of around $900 month on my pension you young measter want me to leave give me my full pension and I will go but if you don't I work till the company closes and you won't. When you retire every penny counts ,and yes I have other savings but my plans to retire included my teamster pension and savings together...If you vote yes you will never never get a pension or anything else but a hourly wage.You may as well be nonunion.Because there won't be any future here..
I personally think that is part of what they want...Those of you with only a couple of years to go will be forced to work till you drop. In the meantime guys that are laid off will be forced to find other employment and they're recall rights will eventually expire. Leaving the company to hire the new 4 hr guys who have no idea of what used to be.
wild thing
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KK all do respect for saying your peace.But people with the country the way it is and with the crappy leaders we have in the Washington it is time to take a stand.If they want to shut us down we shut the country down it's crazy but shut conway,fed ex,ups and all the rest down ,the old man hoffa would of took a stand.And yes he payed for it but we all need to stand together as one and stop the junior, senior back stabbing and get on the same page.People we have to take a stand to stop the so called leaders from taking us back to the great depression times.Thats what they want for us to work to for for sweat shop wages.And it's heading that way fast !!
Are you all aware they pay six figure salaries to people to come up with these things and to statistically design them to divide those affected into adversarial groups. The only way to win against them is to refuse to play their game and defeat their statistical analysis.
screwy louiey
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A good point was brought up during a discussion withanother brother about the pension. If we agree to this 25% contribution to the pension and now we're locked in till 2015. If the pension reform bill passes and comes into law b/4 2015 and gets YRC off the hook from paying the so called orphanes. Do they still have to to pay 25% or resume full 100% contribution 2 the pension. Seems like this is something on the horizon YRC is hoping for.
What is your insight to this???
What is your insight to this???
You CAN go to the lenders with that proposal; as long as you take along $1.2 Billion to buy YRC's Debt out! I'm actually pretty sure the lenders would be happy to talk to you then.......that's all this is about--the lenders paid the money out, and they aren't seeing any back. This YRC merger probably sounded good to the lenders back years ago when the economy was chugging along; now no one has money, no companies are profiting, no companies are paying their loans. With uncertainty about Gov HealthCare Rules; Crap and Tax; Higher Taxation--- the Economy probably won't recover for a number of years. Someone's gotta come up with a way to pay the loans, or the banks have no choice but to call in the loans.....
screwy, (I no longer work there); what does the 25% do to keep the pension alive? Affect people like me who have 22 years paid in, but can't claim retirement for another 9 years at age 65? Just curious. I have a letter from Central States telling me I'm frozen, will recieve 2488 @ month at age 65. Something tells me to not count on that??????? cdlguy is in almost the same boat, if I recall correctly?????
And-- for anyone that cares-- I remember the reason Preston closed-- couldn't get operating cash. That's the normal reason most companies fail.
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Jimmy G...since you know me, do I need to do something or sign something about my pension if I don't plan on going back?
Not according to our Health/Welfare gal at 135. We both took Withdrawl Cards; she told me twice I'm frozen with no problem. Even gave me a print-out showing 22 years, saying I'd get 2488 at age 62. Now this year, Central States sent me a letter showing 21 years, not 22-- but the pay-out number was the same amount on both, but at age 65...... She tells me that as long as we have 20 or more years, we're 'guaranteed'. I hope she's right, but Social Security is 'guaranteed' too; I figure I'll never see either.....not waiting 9 years while others drain it dry.....
Glad to see some thought given to why we are at the mercy of the banks. The length of the proposal is due to the banks wanting some sign of stability for a few years. Otherwise there will be no agreement. IMO the 25% contribution to the pensions is only a hedge against the slim hope that pension reform legislation will be enacted before that part of the agreement goes into effect. If multi-employer pension funds get the relief that this would provide I think that there would be language that would override the MOU.
What happens when you don't have 20 years? I only have 19.
I'm sure you want an honest answer. Here it is-- I have no idea. Same for stpinindy who came over to work with me; 19 as well. Like I said-- I don't expect it to be there anyway. Why my ears perked up when the rumor of a buy-out was going around. I'd take something now as opposed to possibly nothing later in a heart-beat, myself.....It wouldn't be near enough to retire on for more than 5 or 6 years, but it would be a final decision, a sure thing in this coming Depression Washington is causing!!!!!!
The good news is-- you two have not resigned. Maybe there's still hope!