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Yellow | Pension really fixed, not so sure

Razorblade said:
Preston was quite profitable prior to deregulation throughout the eighties and into the nineties. Preston excelled at the only thing that mattered prior to deregulation, claim free on time service. After deregulation, the cost structure did not allow Preston or the other 600+ union carriers that shut down to compete in the free market.
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Do you not see where I am headed with this? Apparently, ABF, Yellow, Roadway, Holland, New Penn, Redaway, etc., etc., were more "prosperous" than Preston was as they continued beyond 1998. And, if not for Zollars (Yellow) buying up the other four companies with money that he didn't have, all five of the YRCW companies might very well still be in business and profitable today on their own.
I am sure that Preston was a great company and I would never put them down as they were Teamster's as well. But it would seem that Preston would still be in business today if they were as prosperous and profitable as you say they were.
 
Steward of the Rock said:
Do you not see where I am headed with this? Apparently, ABF, Yellow, Roadway, Holland, New Penn, Redaway, etc., etc., were more "prosperous" than Preston was as they continued beyond 1998. And, if not for Zollars (Yellow) buying up the other four companies with money that he didn't have, all five of the YRCW companies might very well still be in business and profitable today on their own.
I am sure that Preston was a great company and I would never put them down as they were Teamster's as well. But it would seem that Preston would still be in business today if they were as prosperous and profitable as you say they were.
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I see 5, well Redaway makes it 4 1/2, that will all be dead in a few years along with 600+ others, all with one thing in common. The International Brotherhood of Teamsters.
 
muddog said:
Without being to much of a smart ass, I think if you absolutely feel that way, and you are a principal based man (or woman) , then you should reject your monthly stipend from the pension fund, and donate it to a cause you can get behind. If you had the wherewithal to actually put your money where your mouth is, you’d be a hero amongst your peers who agree with your line of judgement. Just saying.. Regardless, take care ..
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Not looking to be a hero. I was an overpaid driver but I didn't give any of that back. either.
Here is a suggestion. Why don't the IBT and the area councils step up and bailout the members pension funds. The officers pension funds are flush with cash. Nobody from the government ever signed our contracts but they did.
 
Razorblade said:
Not looking to be a hero. I was an overpaid driver but I didn't give any of that back. either.
Here is a suggestion. Why don't the IBT and the area councils step up and bailout the members pension funds. The officers pension funds are flush with cash. Nobody from the government ever signed our contracts but they did.
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Nobody from the government ever signed our contracts, but the government damn sure deregulated the trucking industry which was the starting point of the Unionized freight companies downward spiral. Now, the government is trying to right some of the wrong that took place back in 1980 by passing the Butch Lewis Act. It is far from perfect as it still leaves the current YRCW companies employees behind, but it does help protect the pensions of the ones already retired for the next 30 years. INCLUDING YOURS!!! And you want to blame the Teamster's for all of this? You are biting the very hand that has fed you since 1974 to current date. I hope to God that they broke the mold when they made you, you ungrateful and unappreciative A-Hole.
 
rtm457 said:
Why should anyone be concerned about current working members and their pension? Current members overwhelmingly ratified a contract with NO mention of contributions to the Central States Pension. They sold out for a raise and that is all they could see, they said to hell with those of us that worked 30 or more years. Now we have to have the Socialist Democrats bail out our pension because current members chased the carrot.
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Without the bailout it was just flushing money down the toilet, the only question was if it was going to be out of money in 8 or 10 or 12 years. Why would you want to invest money into a fund that will be broke before you retire? I would love to hear a rational explanation on that!
 
Marlin444 said:
Something to consider? Would you recommend your kids to work here? Lots of people quitting or retiring, yes there are, but how many new people have you seen come in lately? The company and the union need more people, period, for workload reasons, pension reasons, and insurance reasons. But outside of the obvious they don’t know how to get them here.
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The $7,500.00 is not attracting new employees. The few that come, seems to be coming to obtain their license and then they leave. It seems as all the other carriers are sending their potential employees to YRC driving academy.
 
Steward of the Rock said:
Nobody from the government ever signed our contracts, but the government damn sure deregulated the trucking industry which was the starting point of the Unionized freight companies downward spiral. Now, the government is trying to right some of the wrong that took place back in 1980 by passing the Butch Lewis Act. It is far from perfect as it still leaves the current YRCW companies employees behind, but it does help protect the pensions of the ones already retired for the next 30 years. INCLUDING YOURS!!! And you want to blame the Teamster's for all of this? You are biting the very hand that has fed you since 1974 to current date. I hope to God that they broke the mold when they made you, you ungrateful and unappreciative A-Hole.
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Steward of the Rock, you could not have stated all of these facts any clearer. If he still doesn't get it, it's useless to even respond to him. He has got that attitude hooray for me and f--- everybody else. And he says he was a steward and organizer for the Teamsters, thank God he never represented me. :6788:
 
ROADY said:
Maybe Home Depot should pay them all a higher wage then maybe everybody will be happy including you with that $3500.00 a month pension that you feel others shouldn't receive.
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You really don't get it.
We were all promised a pension. We all assumed it would be there. Now for whatever reason, and there is enough blame to go around, the money isn't there to pay us. It's not the taxpayers problem. The funds go bankrupt and, unfortunately, the checks stop.
It's like my neighbor losing his job and a law being passed forcing me to pay his mortgage.
It's amazing how people on this board will scream about corporate welfare and government waste and then justify the pension bailout. One does not justify the other. Strange how it's only wrong when someone else benefits but just fine when it's you who gets paid.
I said there is enough blame to go around but the worst was overpromising. Lifetime pensions of $3500 a month when lifespans are getting longer everyday. 30 and out with people, like me, collecting at 55 or younger and living to 85 years old. Million dollar pensions for everyone! What could possibly go wrong?
BTW: this is the federal government. We will be lucky to see any money before the CSPF goes broke and thousands of us are dead.
 
Razorblade said:
You really don't get it.
We were all promised a pension. We all assumed it would be there. Now for whatever reason, and there is enough blame to go around, the money isn't there to pay us. It's not the taxpayers problem. The funds go bankrupt and, unfortunately, the checks stop.
It's like my neighbor losing his job and a law being passed forcing me to pay his mortgage.
It's amazing how people on this board will scream about corporate welfare and government waste and then justify the pension bailout. One does not justify the other. Strange how it's only wrong when someone else benefits but just fine when it's you who gets paid.
I said there is enough blame to go around but the worst was overpromising. Lifetime pensions of $3500 a month when lifespans are getting longer everyday. 30 and out with people, like me, collecting at 55 or younger and living to 85 years old. Million dollar pensions for everyone! What could possibly go wrong?
BTW: this is the federal government. We will be lucky to see any money before the CSPF goes broke and thousands of us are dead.
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Did you ever think about PBGC is a government sponsored insurance policy for pensions that is in trouble that we all paid our premiums to. So is that a bail out if PBGC goes insolvent also?
 
dokman said:
Did you ever think about PBGC is a government sponsored insurance policy for pensions that is in trouble that we all paid our premiums to. So is that a bail out if PBGC goes insolvent also?
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PBGC should payout on our pensions in accordance with the contracted premiums paid into the PBGC. It would be a fraction of our current pensions. Bailing out the government sponsored PBGC is a whole different story than bailing out a private pension fund.
 
Razorblade said:
You really don't get it.
We were all promised a pension. We all assumed it would be there. Now for whatever reason, and there is enough blame to go around, the money isn't there to pay us. It's not the taxpayers problem. The funds go bankrupt and, unfortunately, the checks stop.
It's like my neighbor losing his job and a law being passed forcing me to pay his mortgage.
It's amazing how people on this board will scream about corporate welfare and government waste and then justify the pension bailout. One does not justify the other. Strange how it's only wrong when someone else benefits but just fine when it's you who gets paid.
I said there is enough blame to go around but the worst was overpromising. Lifetime pensions of $3500 a month when lifespans are getting longer everyday. 30 and out with people, like me, collecting at 55 or younger and living to 85 years old. Million dollar pensions for everyone! What could possibly go wrong?
BTW: this is the federal government. We will be lucky to see any money before the CSPF goes broke and thousands of us are dead.
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Unfortunately I do get it. I bet you didn't say half of the bull:crap: you spew now while you were puttingin your time. Ok ole Blade has his 30 in time to collect his $3500 a month for the last 20 years now screw everybody else. Your story is getting old my friend, find a new audience.:soapbox:
 
Razorblade said:
Not looking to be a hero. I was an overpaid driver but I didn't give any of that back. either.
Here is a suggestion. Why don't the IBT and the area councils step up and bailout the members pension funds. The officers pension funds are flush with cash. Nobody from the government ever signed our contracts but they did.
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Unfortunately, for members at Yellow, the only person who can fix their pension problems is the individual, him/her self. You have to leave, and go to another participant who won’t **** you for 3/4 of your entitlement.
 
Razorblade said:
Out of 3+ full paragraphs, you pick one sentence. I guess you have no answers for the rest of my post.
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That is because you keep spewing the same ridiculous crap over and over again. You made it very clear in post #82 and #83 that you blame the Teamster's for the demise of all of the companies that went out of business after deregulation. And then you go on to say that the current YRCW companies will all be dead in a few years like you are wishing the demise of them as well. Did I miss anything there Hypocrite?
 
TOO old to leave, nobody wants to hire me with no cdl. Yellow has me by the pension.
Too old to start over and build a tiny portion of what was promised, and for which I was paid less, so that monies could go to pension.
I was trapped by years of service, and then needed the age to get the pension without penalty
Now I have many years, and I have the age. Between survivor benefits and insurance, i get little more than half of what is accrued. those whom left before got large money, i am still working to pay their 48k or better yearly.
 
mufungo said:
TOO old to leave, nobody wants to hire me with no cdl. Yellow has me by the pension.
Too old to start over and build a tiny portion of what was promised, and for which I was paid less, so that monies could go to pension.
I was trapped by years of service, and then needed the age to get the pension without penalty
Now I have many years, and I have the age. Between survivor benefits and insurance, i get little more than half of what is accrued. those whom left before got large money, i am still working to pay their 48k or better yearly.
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I truly wish there was something I could say to ease the pain for you as well as all the other Yellow brothers and sisters that are in the same boat. You all were truly screwed by Zollars mis-management and trickery by telling you all the concessions would be a temporary thing back in 2009 to get a yes vote on that contract. He should be held accountable for what he did to the YRCW companies by buying them all up with borrowed money and then creating a pricing war during one of the worse recessions of current history. I truly feel that his plan was to sink the ship to get the Teamster's out of freight period. And in the process, he ruined the pensions of many that were depending on them to retire comfortably. Anybody that can do that to others with no shame of the consequences they create is truly an evil person.
 
Steward of the Rock said:
I truly wish there was something I could say to ease the pain for you as well as all the other Yellow brothers and sisters that are in the same boat. You all were truly screwed by Zollars mis-management and trickery by telling you all the concessions would be a temporary thing back in 2009 to get a yes vote on that contract. He should be held accountable for what he did to the YRCW companies by buying them all up with borrowed money and then creating a pricing war during one of the worse recessions of current history. I truly feel that his plan was to sink the ship to get the Teamster's out of freight period. And in the process, he ruined the pensions of many that were depending on them to retire comfortably. Anybody that can do that to others with no shame of the consequences they create is truly an evil person.
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and POS zollars walked away with, what, a 11 million golden parachute pension payment...
 
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