Yellow | Pension

Race to the bottom, low wages,no pension, lots of graduates from penal farms now employed. Attendance is not often high on their list of priorities, some have had yrc sponsored thrift stores on the side. Market rate adjustments not even on the radar, and cold night work makes a lot of folks look to all the nearby warehouse for other employment.
 
8 years ago, if you just voted NO the 2nd time, we could have gotten the step-up contract that ABF held out for, and would be way ahead of the game. We voted NO after this story came out. We had a 2nd vote and many chickened out and voted yes. YRCW held back their 4Q report which was to come right after the 1st vote but delayed it until after the 2nd vote. When the weak knee Teamsters voted yes, they released it, and LOW AND BEHOLD, the company made its first profit of over $400k in the 4Q. Had that been released we would have voted NO the 2nd time and got that better contract...Oh, well.... and I will keep reminding those yes voters of this until the day I die (and even then I have others who will continue this post for me!)
Don't start all those cussing comments....comment with some adult structure.
Instead of $400,000 profit, YRCW could have given all 24,000 Teamster employees that 4th quarter profit instead and broke even for the quarter. Gee, what would I do with that extra $16.66? Decisions, decisions.
 
Instead of $400,000 profit, YRCW could have given all 24,000 Teamster employees that 4th quarter profit instead and broke even for the quarter. Gee, what would I do with that extra $16.66? Decisions, decisions.
I was told by a union official that it was a scare tactic.. They did it to us at NewPenn and many caved.. They were never gonna close the doors and they were never gonna shut NewPenn down .. YRC is a cash cow for the banks and they know it..
 
Not to speak for KK but I read the article and the main union person talking said he felt as though there should be some negotiation...
And as you know, talk is cheap. Even a smart bank robber knows enough to rob a bank with lots of money, not a bank with very little. The financial condition of Yellow is out there for anyone to see.
 
I was told by a union official that it was a scare tactic.. They did it to us at NewPenn and many caved.. They were never gonna close the doors and they were never gonna shut NewPenn down .. YRC is a cash cow for the banks and they know it..
Oh well, that's different a "union official" said it was a bluff, that settles it. I wonder if it was the same union official who said the same thing at Maislin, St. Johnsbury, Penn Yan/CEX, etc., etc.?

PS - If you took out a mortgage to buy your house aren't you also a cash cow for your bank? And what would happen if you stopped making those payments?
 
And as you know, talk is cheap. Even a smart bank robber knows enough to rob a bank with lots of money, not a bank with very little. The financial condition of Yellow is out there for anyone to see.
Oh well, that's different a "union official" said it was a bluff, that settles it. I wonder if it was the same union official who said the same thing at Maislin, St. Johnsbury, Penn Yan/CEX, etc., etc.?

PS - If you took out a mortgage to buy your house aren't you also a cash cow for your bank? And what would happen if you stopped making those payments?
I would just rob the bank that held my mortgage weather they had a lot of money or a little.....wonder if after I got the money would they be suspicious if I made my mortgage payment?
 
If it weren't for the "Yes" voters Yellow would very likely be in the "Boneyard" forum now. The yes vote was a requirement of the investment banks in order to refinance the heavy debt. And the Teamsters themselves had auditors examine the finances of Yellow before reccomending the "Yes" vote. You know all that. SMH.
NOOOOO , stop drinking the numbers game :heykoolaid: , split it out !! Besides you never did like Orange Kool-Aid !
Kool Aid Vampire GIF by Cartuna
 
Making 400,000 in a qtr for a multi billion dollar company is not much to brag about, regardless which side of the fence you were on.

How did YRC go from a 9 billion dollar company to 4 billion with all the help from the hourly workers?

Beat that drum, but not everyone hears the same song.
Their are two reasons for the downward spiral of the YRC companies.
1) The Great Recession that started in 2008.
2) Bill Zollars.
Zollars started the ball rolling by buying up all the other companies with borrowed money, and over paying for most of them. After the recession ended, most companies were able to recover. Because of the debt that Zollars created, the YRC companies could not. It is still hard to believe that one man could cripple five strong healthy freight companies like he did.
 
Zollars started the ball rolling by buying up all the other companies with borrowed money, and over paying for most of them. After the recession ended, most companies were able to recover. Because of the debt that Zollars created, the YRC companies could not. It is still hard to believe that one man could cripple five strong healthy freight companies like he did.
Wonder how the family of Galen Roush is doing??
 
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Making 400,000 in a qtr for a multi billion dollar company is not much to brag about, regardless which side of the fence you were on.

How did YRC go from a 9 billion dollar company to 4 billion with all the help from the hourly workers?

Beat that drum, but not everyone hears the same song.
Oh, they hear the drum, but do not want to debate about it with a bunch of MEsters anymore. Meanwhile, new hires do not know of the sacrifices those above them made, for them to even be there. Now look at the SEC reports AFTER that $Q until now and see the money made, and compared to when Bobouses, raises, stock options, and "performance bonuses were being given out.
 
Food for thought, with the influx of money from treasury dept., could the funds become over funded (if right investments are made) and no increase in contributions be required, came from a local where years ago we had too much money, changed it to 20 and out any age, had guys and gals retire late 30s, early 40s, i think we were 135% funded
They would have to pay back what they owe first for that to even get close enough. They still owe CSPF $100M that was not paid, and they are letting them slide with an IOU. So I don't think you would have to worry about the Pension Funds being fully funded in our lifetime.
 
Oh, they hear the drum, but do not want to debate about it with a bunch of MEsters anymore. Meanwhile, new hires do not know of the sacrifices those above them made, for them to even be there. Now look at the SEC reports AFTER that $Q until now and see the money made, and compared to when Bobouses, raises, stock options, and "performance bonuses were being given out.
Not a MEster I see the reality of a lot of poor decisions that that hourly workers are being punished for.
 
8 years ago, if you just voted NO the 2nd time, we could have gotten the step-up contract that ABF held out for, and would be way ahead of the game. We voted NO after this story came out. We had a 2nd vote and many chickened out and voted yes. YRCW held back their 4Q report which was to come right after the 1st vote but delayed it until after the 2nd vote. When the weak knee Teamsters voted yes, they released it, and LOW AND BEHOLD, the company made its first profit of over $400k in the 4Q. Had that been released we would have voted NO the 2nd time and got that better contract...Oh, well.... and I will keep reminding those yes voters of this until the day I die (and even then I have others who will continue this post for me!)
Don't start all those cussing comments....comment with some adult structure.
should've never been a second vote ....that was bullshit
 
8 years ago, if you just voted NO the 2nd time, we could have gotten the step-up contract that ABF held out for, and would be way ahead of the game. We voted NO after this story came out. We had a 2nd vote and many chickened out and voted yes. YRCW held back their 4Q report which was to come right after the 1st vote but delayed it until after the 2nd vote. When the weak knee Teamsters voted yes, they released it, and LOW AND BEHOLD, the company made its first profit of over $400k in the 4Q. Had that been released we would have voted NO the 2nd time and got that better contract...Oh, well.... and I will keep reminding those yes voters of this until the day I die (and even then I have others who will continue this post for me!)
Don't start all those cussing comments....comment with some adult structure.
CORRECT! Company said it would close with a no vote, if what they said was true, there would not have been a 2nd vote after the 1st proposal was voted down 61%-39%!
 
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