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ODFL | New CEO

DMT said:
I am not trying to stir things up , but , I have a question. If Yellow goes under does your pension amount change because the government will have to take it over. Example : Eastern Airlines lost 40% (guessing) of what was expected upon retiring.

Unless you did not work for Yellow
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I never did, Yellow has nothing to do with my pension.
If I lost my pension, I can always be the foreman at Billy's Lawncare.
I'm also a licensed boat capt, I can run the Bayliner hauling babes for Billy on weekends.
 
DayliteDean said:
David Congdon is the largest individual shareholder with 10.55% of the company. I'm retiring in 16 months, all I really care about the new CEO is he doesn't crash the company or stock value in that time period....
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How many ODFL shares do you own? Might want to diversify before the stock goes back to pre-covid numbers. Like, 100$ per share. It won't be anyone's fault by yours for going All-in on one stock. Put aside any personal bias or FOMO.

OD stock grew 19% in June but the company is cutting runs and downsizing some operations. Why is the stock price so high? Look at whose pumping money Into OD. Large hedge fund investors. They are fattening us up before 2nd quarter numbers get released. Then they'll rug pull and short the stock. Maybe I'm wrong but is it worth the risk? Will you still be able to retire in 16 months if that happens?
 
seabreeze said:
I never did, Yellow has nothing to do with my pension.
If I lost my pension, I can always be the foreman at Billy's Lawncare.
I'm also a licensed boat capt, I can run the Bayliner hauling babes for Billy on weekends.
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Very Good , but those with Yellow will not have the pension promised if they go bankrupt and close the doors ,maybe half.
 
Nappen said:
How many ODFL shares do you own? Might want to diversify before the stock goes back to pre-covid numbers. Like, 100$ per share. It won't be anyone's fault by yours for going All-in on one stock. Put aside any personal bias or FOMO.

OD stock grew 19% in June but the company is cutting runs and downsizing some operations. Why is the stock price so high? Look at whose pumping money Into OD. Large hedge fund investors. They are fattening us up before 2nd quarter numbers get released. Then they'll rug pull and short the stock. Maybe I'm wrong but is it worth the risk? Will you still be able to retire in 16 months if that happens?
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Why would Blackrock and Advantage pump up the stock by investing and the "rug pull" after second quarter numbers thereby losing money. OD stock has raised lately due too the Yellow news and has slowly been falling since. When the second quarter numbers come out and they make expected revenue it will go back up and if they miss those numbers it will fall. agree or disagree?
 
seabreeze said:
I don't think you're right about that, they will become an orphan like myself.
The funds have been bailed out through 2051 I think.
I can always take an online course and become a brain surgeon.
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I am in a guessing area here , but I do remember what happened to Eastern airline employees when they went bankrupt. The ones that already retired lost half (estimate) of what they had been receiving because the pension plan was handed to the government, With that being said this is not the same union and dues would suddenly drop by the 22000 number thrown around. Would this not make it difficult for them (the admin of the pension) to continue to pay the retired as they have?
 
Nappen said:
How many ODFL shares do you own? Might want to diversify before the stock goes back to pre-covid numbers. Like, 100$ per share. It won't be anyone's fault by yours for going All-in on one stock. Put aside any personal bias or FOMO.

OD stock grew 19% in June but the company is cutting runs and downsizing some operations. Why is the stock price so high? Look at whose pumping money Into OD. Large hedge fund investors. They are fattening us up before 2nd quarter numbers get released. Then they'll rug pull and short the stock. Maybe I'm wrong but is it worth the risk? Will you still be able to retire in 16 months if that happens?
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Do you know how many times we've heard predictions about the stock tanking in the last 15 years? (A disclaimer here TB is not an investment site. any stock recommendations you see here are strictly the opinion of the poster) any ways I have no more than 10% of my portfolio in any one thing. I'm OK
 
DMT said:
I am in a guessing area here , but I do remember what happened to Eastern airline employees when they went bankrupt. The ones that already retired lost half (estimate) of what they had been receiving because the pension plan was handed to the government, With that being said this is not the same union and dues would suddenly drop by the 22000 number thrown around. Would this not make it difficult for them (the admin of the pension) to continue to pay the retired as they have?
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Actually, you are paying part of mine with your tax dollars.
I've been drawing mine since 1990 if they decided they didn't want to pay mine any longer it would be ok.
I'd just put Mama to work, she's always wanted to be a go-go dancer.
 
I just feel bad for those guys at Yellow. Yes, they're competition, but we see and talk to these guys all the time. They have families too. Been in this business a long time, seen alot of carriers go out over the years. Been at a cpl that have been either bought out, or went out over the years.
It's not a good feeling when somebody pulls the rug out from under you.
I wish the best over there for all involved.
 
DMT said:
I am in a guessing area here , but I do remember what happened to Eastern airline employees when they went bankrupt. The ones that already retired lost half (estimate) of what they had been receiving because the pension plan was handed to the government, With that being said this is not the same union and dues would suddenly drop by the 22000 number thrown around. Would this not make it difficult for them (the admin of the pension) to continue to pay the retired as they have?
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The pension has nothing to do with dues. It's a pension fund the union doesn't put money in it or take money out. It's a multi employer pension fund.
 
DayliteDean said:
Do you know how many times we've heard predictions about the stock tanking in the last 15 years? (A disclaimer here TB is not an investment site. any stock recommendations you see here are strictly the opinion of the poster) any ways I have no more than 10% of my portfolio in any one thing. I'm OK
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If that's true than you shouldn't sweat it. 10% is hardly a drop. Hell you might not notice cause your 10% in other assets goes up.
 
Your 90% will go up I mean. Couldn't edit my post. Maybe you should even cheer on the stock falling. It will raise your other positions. Unless OD isn't your only LTL stock.
 
Oddriverrr said:
I'm sorry I should of say nobody except linehaul drivers. Yes they make good money here. They deserve it. I still think we all work for peanuts. Can't find my recent investor book. I'll just paste what I googled so here ya go:

"As President and Chief Executive Officer at OLD DOMINION FREIGHT, Greg C. Gantt made $10,531,053 in total compensation. Of this total $774,023 was received as a salary, $7,744,570 was received as a bonus, $0 was received in stock options, $1,975,247 was awarded as stock and $37,213 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year."
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Yeah, that’s a lot of cheese.but riddle me this Batman, do you have the knowledge or experience to effectively run a national LTL? If I make mine I don’t for a second envy or covet what the executives make…
 
I understand the union does not put money into the pension. The company puts money into the pension

What Happens When a Company Goes Bankrupt?​

When a company goes bankrupt they have two choices. They can reorganize and try to stay in business by reducing costs and attracting new investors, or they can liquidate. The pension plan is usually terminated in reorganization and always terminated in liquidation. So, then what happens? A federal insurance agency called the Pension Benefit Guaranty Corporation (pbgc.gov) takes over the pension payments.

As stated here a govt agency takes over the pension after a bankruptcy and liquidation. As I understand what has happened to other union pension plans taken over by this agency the payout decreases . I am not arguing with you just passing on what I have read.
 
ltl 07 said:
. It's a multi employer pension fund.
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And like social security , less people paying in and the fund can no longer support those receiving benefits so, either no one gets anything or everyone gets less unless your the govt and you just print more dollars
 
Songremainsthesame said:
Yeah, that’s a lot of cheese.but riddle me this Batman, do you have the knowledge or experience to effectively run a national LTL? If I make mine I don’t for a second envy or covet what the executives make…
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Song, I think Billy is looking for a CEO, I thank that might be right down your alley.
Salary is negotiable with free lawn care.
 
DMT said:
I understand the union does not put money into the pension. The company puts money into the pension

What Happens When a Company Goes Bankrupt?​

When a company goes bankrupt they have two choices. They can reorganize and try to stay in business by reducing costs and attracting new investors, or they can liquidate. The pension plan is usually terminated in reorganization and always terminated in liquidation. So, then what happens? A federal insurance agency called the Pension Benefit Guaranty Corporation (pbgc.gov) takes over the pension payments.

As stated here a govt agency takes over the pension after a bankruptcy and liquidation. As I understand what has happened to other union pension plans taken over by this agency the payout decreases . I am not arguing with you just passing on what I have read.
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That’s all true if your pension is administrated by the same company you work for.
As already stated here: yours is a multi-employer fund.
 
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