YRC Freight | SOMETHING STINKS!

[Northern Flash]

[quote author=rgdg5 link=topic=79844.msg827349#msg827349 date=1273095569]
How do you figure that YRCW is paying for those teamsters pensions that never worked for them? The last I knew you didn't get credit for a pension year unless the company that you worked for paid in on you. YRC never paid in on someone that retired from CF or any other company that went out of business.
[/quote] Come on Bro. Do you mean that you haven't ever heard of the surviving Union companies paying for the "shut down" company's retirees? It's true. That's how it works. When a Union company shuts down, the surviving Union companies start picking up the tab for the pension obligations for the "orphans". It is a huge financial burden on the surviving companies, but it is what it is. And YRCW and ABF are the largest survivors.

 

[John/nyc]

[quote author=Northern Flash link=topic=79844.msg827529#msg827529 date=1273150002]
[quote author=rgdg5 link=topic=79844.msg827349#msg827349 date=1273095569]
How do you figure that YRCW is paying for those teamsters pensions that never worked for them? The last I knew you didn't get credit for a pension year unless the company that you worked for paid in on you. YRC never paid in on someone that retired from CF or any other company that went out of business.
[/quote] Come on Bro. Do you mean that you haven't ever heard of the surviving Union companies paying for the "shut down" company's retirees? It's true. That's how it works. When a Union company shuts down, the surviving Union companies start picking up the tab for the pension obligations for the "orphans". It is a huge financial burden on the surviving companies, but it is what it is. And YRCW and ABF are the largest survivors.
[/quote]

Its not a simple 1 to 1 calculation.

When CF, or anybody else, goes out the contributions of the remaining companies do not automatically increase.

The increase has to be negotiated at contract time.

YRC only pays for straight time hours worked.

 

[bigtruk_us]

Heres an idear...lets get some more companies organized...bring in the Obama army and force them..wait..could that be what the health care bill will do?also I might add that the pension fund is always said to be short.when in actuality its better than reported.that's done to get the surviving union companies to pay more in.maybe if congress decides to undo the pension funding levels that were set higher a few a years back.maybe and then maybe,the liquidity of the fund may be easier to attain.the government is killing business.

 

[Italian Style]

The US Government isn't killing the business. They are just fundamentally transforming the business into a more global issue.

 

[screwy louiey]

[quote author=Italian Style link=topic=79844.msg828011#msg828011 date=1273319040]
The US Government isn't killing the business. They are just fundamentally transforming the business into a more global issue.
[/quote]

And Corporations are killing America....... good point I-Style

 

[imported_ltl1]

[quote author=john/nyc link=topic=79844.msg827592#msg827592 date=1273161940]
[quote author=Northern Flash link=topic=79844.msg827529#msg827529 date=1273150002]
[quote author=rgdg5 link=topic=79844.msg827349#msg827349 date=1273095569]
How do you figure that YRCW is paying for those teamsters pensions that never worked for them? The last I knew you didn't get credit for a pension year unless the company that you worked for paid in on you. YRC never paid in on someone that retired from CF or any other company that went out of business.
[/quote] Come on Bro. Do you mean that you haven't ever heard of the surviving Union companies paying for the "shut down" company's retirees? It's true. That's how it works. When a Union company shuts down, the surviving Union companies start picking up the tab for the pension obligations for the "orphans". It is a huge financial burden on the surviving companies, but it is what it is. And YRCW and ABF are the largest survivors.
[/quote]

Its not a simple 1 to 1 calculation.

When CF, or anybody else, goes out the contributions of the remaining companies do not automatically increase.

The increase has to be negotiated at contract time.

YRC only pays for straight time hours worked.
[/quote]YES it does, they bill it as severance charge.This info is right out of are local presidents mouth,who also sits on the pension board. Also UPS is still on the hook, see there this little clause saying you have to be be free and clear for 5 years. Its only been about 3 years. With all these orphans the reason other companies have to pickup the tab is because your comapnies goes out of business and does not pay there disconnect charge. SO YES YOU ARE ORPHANS.

 

[bigbern53]

[quote author=bart link=topic=79844.msg827138#msg827138 date=1273030523]
[quote author=vwaggs link=topic=79844.msg827136#msg827136 date=1273030419]
Have you ever played the shell game???
[/quote]
WHAT CALIBER?
[/quote]


:iamnotworthy:

 

[bigbern53]

[quote author=vwaggs link=topic=79844.msg827239#msg827239 date=1273069061]
His contract is up in about 7 or 8 months.
uote

I don't think we have seven or eight months

 

[Bart]

BYE- BYE PENSION :thumbsup: :threadsux: :stir: :rant: :nono: :iamnotworthy: :banana: :buttkisser: :hissy: :tribe: