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Saving America's Pension Plans Is A Rare Chance For Bipartisan Accomplishment | Opinion

Razorblade said:
Too late. The Teamsters allowed this to happen. The beginning was in the 80's when the union did not strike CF over the Conway startups. CF created a holding company that allowed them to use CF profits and capital to fund and grow Conway. Conway was to be 4 small regional carriers that would not compete with Consolidated Freightways. One of those 4 was a buyout of the union carrier Penn Yan. It wasn't very long before the union was gone and the 4 regionals began interlining with each other. The next step was to merge the 4 together and then redirect the business from CF to Conway by sharing customer lists, sales and pricing information. All of this was done right under the nose of the International Brotherhood of Teamsters.
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It's been a lot of years now but as I recall and many here might not know this but Motor Freight Express , York Pa. was the one responsible for CF starting Con Way . What happen was CF was in talks with MFX to buy them out but heres the sticking point CF told them that they would buy MFX after they(MFX) paid over 300 k to CSPF.MFX wouldn't have anything to do with that so after sometime of bickering back and forth CF said the hell with ya were going to open our own company .
 
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Pup Driver said:
It's been a lot of years now but as I recall and many here might not know this but Motor Freight Express , York Pa. was the one responsible for CF starting Con Way . What happen was CF was in talks with MFX to buy them out but heres the sticking point CF told them that they would buy MFX after they(MFX) paid over 300 k to CSPF.MFX wouldn't have anything to do with that so after sometime of bickering back and forth CF said the hell with ya were going to open our own company .
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Interesting, Brother.....Motor Freight was one of the companies on my....resume'....
 
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First tractor purchased by Conway, ( owned by Brad Wilkes, Lincolnton N C)
 
jimmy g said:
I hauled a lot of flatbed freight for one of their agents, in 76 thru 80.

Weren't they owned at least in part, by Jerold Hoffberger (then owner of the Baltimore Orioles)?
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Not sure.....I worked city out of Harmarville, Pa......right off the turnpike....
And then when they closed Johnstown and moved it to Greensburg, it was a lot closer to my house, and I transferred there.

Never really knew much about the upper management. I do remember the logo change, though. I still have some old logo MFX notepads.
And I donated an old MFX patch,.....along with others that I had worked for,....to Local #30 Union Hall. They were trying to gather up some mementoes of “fallen flags” in trucking.

They got the patches on display at the Hall. Jeannette, Pa.
 
jimmy g said:
I hauled a lot of flatbed freight for one of their agents, in 76 thru 80.

Weren't they owned at least in part, by Jerold Hoffberger (then owner of the Baltimore Orioles)?
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Yes your 100% correct.O BTW they also owned Colt 45 malt liquor at that time .MFX also at some time bought out Baltimore Transfer a company that was started in 1868 so they had some grate grandfather rights till deregulation came along .
 
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canaryinthemine said:
Interesting, Brother.....Motor Freight was one of the companies on my....resume'....
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MFX was in financial trouble and came to the employees looking for an ESOP with a cut of 15% but it was strictly voluntary . At that time CF wanted to have a regional division and would have been the perfect time for MFX to sell and the best part was that MFX was solid union and would have stayed that way.
 
Pup Driver said:
MFX was in financial trouble and came to the employees looking for an ESOP with a cut of 15% but it was strictly voluntary . At that time CF wanted to have a regional division and would have been the perfect time for MFX to sell and the best part was that MFX was solid union and would have stayed that way.
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By the time of the ESOP, I was laid off and working for Werner-Continental........getting ready for the Hall’s buyout and another layoff.....
 
Getting back to the pension issue. Biden promised pension reform and to help the retirees. I know politicians will say just about anything to get elected. We are still waiting for Butch-Lewis or Grassley-Alexander. But I am now cautiously optimistic that Biden will help the pension problem and the labor movement............Thanks Tommy for telling me about this video

https://www.facebook.com/watch/?v=887674658305938
 
Crystal said:
Getting back to the pension issue. Biden promised pension reform and to help the retirees. I know politicians will say just about anything to get elected. We are still waiting for Butch-Lewis or Grassley-Alexander. But I am now cautiously optimistic that Biden will help the pension problem and the labor movement............Thanks Tommy for telling me about this video

https://www.facebook.com/watch/?v=887674658305938
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At a return of 5.5% i would need to have $1,168,727.00 in a 401k to pay for my pension and health insurance.(400 a week for insurance) Could you explain again why I deserve a bailout?

I checked out how much I will be getting in S.S. when I start collecting in 4 years at 62. Combined with a very modest $12,000 a year from 401k + pension will put me just shy of $78,000 a year. Once again please explain why I deserve a taxpayer funded bailout.
 
Bubba Gump said:
At a return of 5.5% i would need to have $1,168,727.00 in a 401k to pay for my pension and health insurance.(400 a week for insurance) Could you explain again why I deserve a bailout?

I checked out how much I will be getting in S.S. when I start collecting in 4 years at 62. Combined with a very modest $12,000 a year from 401k + pension will put me just shy of $78,000 a year. Once again please explain why I deserve a taxpayer funded bailout.
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Shut up idiot
 
Bubba Gump said:
Could you explain again why I deserve a bailout?
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You must have me confused with some other poster. I can't explain again something I didn't even explain a first time . I don't know why you should deserve a bailout. Why did the coalminers deserve what you consider to call a bailout?
 
Crystal said:
You must have me confused with some other poster. I can't explain again something I didn't even explain a first time . I don't know why you should deserve a bailout. Why did the coalminers deserve what you consider to call a bailout?
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I was asking as a CSPF member. The common narrative of the fighters is if they don't get the bailout, they will be homeless and eating out of a soup kitchen. My contention is, Union truck drivers aren't exactly paupers. With above average S.S., 401k plus the PBGC payout of $35.75 for year of service, CSPF members will still live well when it goes bankrupt. Unless of course you live in a dream house, with three mortgages and high taxes.
 
Bubba Gump said:
I was asking as a CSPF member. The common narrative of the fighters is if they don't get the bailout, they will be homeless and eating out of a soup kitchen. My contention is, Union truck drivers aren't exactly paupers. With above average S.S., 401k plus the PBGC payout of $35.75 for year of service, CSPF members will still live well when it goes bankrupt. Unless of course you live in a dream house, with three mortgages and high taxes.
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Since you quoted my post it appeared that you were asking me. I'm not in CSPF. I'm in a smaller North Jersey fund with the esteemed Puff Driver. As a 41 year 73 year old retiree I will take a 74% cut in 5 months. I only posted Biden's promise to the Teamsters here to possibly give some encouragement to all MEPF members.
 
Bubba Gump said:
CSPF members will still live well when it goes bankrupt. Unless of course you live in a dream house, with three mortgages and high taxes.
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That seems presumptuous of you to me. I would think there are quite a few members with different reasons for their financial hardships.
 
Crystal said:
Since you quoted my post it appeared that you were asking me. I'm not in CSPF. I'm in a smaller North Jersey fund with the esteemed Puff Driver. As a 41 year 73 year old retiree I will take a 74% cut in 5 months. I only posted Biden's promise to the Teamsters here to possibly give some encouragement to all MEPF members.
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If I did my math right your monthly benefit is $5,637.60. J.B.'s video did not mention a pension bailout. Is there some reason you just didn't say Teamsters local 469 pension fund. Why don't you tell the active Teamsters were their pension contributions will go when 469 goes under!
 
Crystal said:
That seems presumptuous of you to me. I would think there are quite a few members with different reasons for their financial hardships.
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Their financial hardships aren't the concern of the TAX PAYER. What about the TAX PAYER who worked for low wages their entire life. Who never had a pension or a matching 401k. They deserve the assistance of the government.
 
Bubba Gump said:
If I did my math right your monthly benefit is $5,637.60.
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No I only have 33.25 years in the fund that defaults in April. I have 8.5 good years in another fund from back when I started in 1969. They didn't cut my $125 a month pension.
Bubba Gump said:
Is there some reason you just didn't say Teamsters local 469 pension fund.
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Yes there is a good reason because I'm not in the local 469 fund.
Bubba Gump said:
Why don't you tell the active Teamsters were their pension contributions will go when 469 goes under!
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I don't know anything about the 469 fund.
 
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