Wrong.Not to dampen anyone's spirit but the older hands should remember what happened to a union freight company called Consolidated Freightways " CF " after Conway bought the company and then negotiation time came around.
Wrong.Not to dampen anyone's spirit but the older hands should remember what happened to a union freight company called Consolidated Freightways " CF " after Conway bought the company and then negotiation time came around.
Speaking as an Abf employee, anything’s possible, but they can’t just buy their way out of the pension unless the union agrees. I don’t see that happening with the new ibt I sure hope not.
TFI does not have to buy out the pensions. In a merger, they simply assume the pension liabilities. TFI would only have to pay the unfunded liabilities if they pulled out of pension funds. Similar contracts resolve any issues. Who said there would even be a merger? TFI could become a holding company and operate both. TFI could acquire enough stock to control ABF. The scenarios are endless.Market cap doesn't equal cash on hand. UPS did all their transactions with cash. TFI is an ant compared to UPS.
I don't believe TFI has 3 or 4 billion in cash to buy abf and buyout the pensions. So, they would need outside finance. Interest rates are at a 2 decade high. Anything can happen, but the economic environment is not a rosey one .
Exactly!TFI does not have to buy out the pensions. In a merger, they simply assume the pension liabilities. TFI would only have to pay the unfunded liabilities if they pulled out of pension funds. Similar contracts resolve any issues. Who said there would even be a merger? TFI could become a holding company and operate both. TFI could acquire enough stock to control ABF. The scenarios are endless.
They don't have that liability more. When the tax payers bailed the Penion fund out. It took the liability off of ABF and YELLOW... 10-4TFI is not going to buy ABF while it has the multi employer pensions liability.
Oh, so ABF doesn't make any contributions to the pensions any longer?They don't have that liability more. When the tax payers bailed the Penion fund out. It took the liability off of ABF and YELLOW... 10-4
Yes but there no longer liable for the entire orphan fund. just there on employes .just like yellow an there on employes. No longer will they have to pay a pension on company employes that have gone out of business. That puts the company's left only responsible for there on employes. Takes a big burden off the union COMPANYS left. Thanks to the tax payer for bailing out centrial states pension fund. I hope you can understand this if. If not you need to go to more local union meetings!Oh, so ABF doesn't make any contributions to the pensions any longer?
Almost $22,000 into my pension a year and I can see that going up with the new contract.... I hope.It isn't just the stockholders either, they have the pension funds to deal with too.
Not interested in union meetings. They support a political party I don't vote for, and never will.Yes but there no longer liable for the entire orphan fund. just there on employes .just like yellow an there on employes. No longer will they have to pay a pension on company employes that have gone out of business. That puts the company's left only responsible for there on employes. Takes a big burden off the union COMPANYS left. Thanks to the tax payer for bailing out centrial states pension fund. I hope you can understand this if. If not you need to go to more local union meetings!
Educate yourself. YOU Want have to ask so many questions ABOUT YOUR JOB OR FUTURE. Makes you look like your don't care, or just DG2SNot interested in union meetings. They support a political party I don't vote for, and never will.
I had no idea that union meetings are rallies for Democrats.....Not interested in union meetings. They support a political party I don't vote for, and never will.
I'll pass on the leftist indoctrination (Education) camps.Educate yourself. YOU Want have to ask so many questions ABOUT YOUR JOB OR FUTURE. Makes you look like your don't care, or just DG2S
I have never seen a politician at a regular union meeting......I have never been to a union meeting where there was any political talk, it has always been about what was going on in the union....meaning contract negotiations or problems with employers....not one political word has ever been uttered at any I have attended...I'll pass on the leftist indoctrination (Education) camps.
Exactly.I have never seen a politician at a regular union meeting......I have never been to a union meeting where there was any political talk, it has always been about what was going on in the union....meaning contract negotiations or problems with employers....not one political word has ever been uttered at any I have attended...
Why don't you go work non union???? If it is so bad???I'll pass on the leftist indoctrination (Education) camps.
It’s the same at our barn. It looks like they’re purposefully trying to run business off. Also with the amount of overtime they’re paying, why not bring the laid off drivers back? We’ve been told TForce don’t play the numbers, production games like UPS…I don’t see anything changed. Go on TForce, Indeed jobs, Glassdoor, any place there’s a job posted for TForce, apply for job and you’re sent to UPS. Read the disclaimers, not affiliated with TFI, TForce or any of its subsidiaries… I call BS! Still UPS pulling the strings.I am currently on lay off.
My fellow P&D drivers told me that my TM tried to bring 2 of us back to work and the higher power in Richmond said absolutely not.
Nevermind we’re missing pickups daily and customers are pissed off!