StJ. Voted "NO"

slavenomore

US Gov Hears Foreign Corps More Than Nonunions
Premium
A Victim of the Deregulated Road - NYTimes.com

The move followed several attempts in recent years to ease pressures on the company's finances. Earlier this month, the Teamsters union, which represents roughly 3,000 drivers and dock workers, agreed to a 9 percent wage cut, with a promise that workers would share the company's profits.

The company had asked workers in April to approve a 12 percent wage cut in return for a profit-sharing plan, but the rank-and-file members balked at the proposal.

Industry analysts were aware that St. Johnsbury, based in Holliston, Mass., was having difficulties, but assumed that the wage concession had given it breathing room.

Teamsters officials said they met with St. Johnsbury executives on Thursday, when the company outlined its bleak finances and relayed an order from its bank to liquidate the company. At the time, the company proposed a broad range of concessions, including cutting the work force by half, closing 24 of its 54 terminals and replacing the union's health and pension plans with less expensive St. Johnsbury plans



I geuss they thought they could gamble too.
 

Northern Flash

A true love affair. For the love of money.
Premium
A Victim of the Deregulated Road - NYTimes.com

The move followed several attempts in recent years to ease pressures on the company's finances. Earlier this month, the Teamsters union, which represents roughly 3,000 drivers and dock workers, agreed to a 9 percent wage cut, with a promise that workers would share the company's profits.

The company had asked workers in April to approve a 12 percent wage cut in return for a profit-sharing plan, but the rank-and-file members balked at the proposal.

Industry analysts were aware that St. Johnsbury, based in Holliston, Mass., was having difficulties, but assumed that the wage concession had given it breathing room.

Teamsters officials said they met with St. Johnsbury executives on Thursday, when the company outlined its bleak finances and relayed an order from its bank to liquidate the company. At the time, the company proposed a broad range of concessions, including cutting the work force by half, closing 24 of its 54 terminals and replacing the union's health and pension plans with less expensive St. Johnsbury plans


I geuss they thought they could gamble too.
With that **** offer, they obviously wanted them to vote NO.
 

SuperCourse

I live Here
Like YRC, St. Jay was doomed. Concessions would only serve to fatten up the carcass a little for the creditors.
 

Roadpizza

New Member
ST J Was part of sunoil known as the super 7.There were 7 trucking companys and ST J was part of them.After 7 years of ownership the 7 were sold and bought with Junk bonds.One by one they were shutdown dismantled and sold off.ST J was the last one to go.By the time it got to ST J it didn't take much to know what was going on,so was it the right vote at the time?Differant Times.
 

Wrench97

Well-Known Member
At the time there were still plenty of other Teamster carriers to move to, now there is................ah ............... 1 other carrier left.
 

Jay C

Banned
At the time there were still plenty of other Teamster carriers to move to, now there is................ah ............... 1 other carrier left.

it was also discovered that St J had a $100M of debt on the books

that is what made UPS not but them them
 

volvo879

Member
A Victim of the Deregulated Road - NYTimes.com

The move followed several attempts in recent years to ease pressures on the company's finances. Earlier this month, the Teamsters union, which represents roughly 3,000 drivers and dock workers, agreed to a 9 percent wage cut, with a promise that workers would share the company's profits.

The company had asked workers in April to approve a 12 percent wage cut in return for a profit-sharing plan, but the rank-and-file members balked at the proposal.

Industry analysts were aware that St. Johnsbury, based in Holliston, Mass., was having difficulties, but assumed that the wage concession had given it breathing room.

Teamsters officials said they met with St. Johnsbury executives on Thursday, when the company outlined its bleak finances and relayed an order from its bank to liquidate the company. At the time, the company proposed a broad range of concessions, including cutting the work force by half, closing 24 of its 54 terminals and replacing the union's health and pension plans with less expensive St. Johnsbury plans

I worked for St.Johnsbury for 14 years. We did vote no on the 12% then voted yes on the 9% wage reduction. The prevailing thought at that time was to match the 9% wage reduction in effect at Preston trucking. All that other crap in the NY Times article was presented to the IBT, They refused to bring it to the members. The Ron Carey administration was right not to bring it to a vote,I can't help but wonder what Hoffa would have done? By the way,of the 6 freight companies I have worked for,St. Johnsbury was far and away the best.
 

jimmy g

Kook
Premium
I worked for St.Johnsbury for 14 years. We did vote no on the 12% then voted yes on the 9% wage reduction. The prevailing thought at that time was to match the 9% wage reduction in effect at Preston trucking. All that other crap in the NY Times article was presented to the IBT, They refused to bring it to the members. The Ron Carey administration was right not to bring it to a vote,I can't help but wonder what Hoffa would have done? By the way,of the 6 freight companies I have worked for,St. Johnsbury was far and away the best.

I always thought that if there ever was a plan that could survive under a wage concession, the Preston one would be it. Preston should have gone under on Thanksgiving , '93. Yellow Corp bought us at the last minute, probably to get Saia (Preston was more or less Debt-Free in 90, when they bought Saia-- they then used money they normally would have used to buy new equipment /upgrade, to service the payments for Saia-- sound familiar?) and to use PTC as a guinia pig for Next Day Service-- St Louis to Boston thru the Super Terminal at I76/I80. We started at 9, worked our way thru 7, were about to go to 5, when Leo Suggs shwed up and said "Boys, this ain't working. Gotta freeze what you got." We were then sold to 3 Yellow Corp VPS and made Debt Free, in exchange for Saia. If closed within a year-- the contract said we would have had to have been dove-tailed. We closed 13 1/3 months later due to 'no operating cash'....

St Johnsbury closed-- good company, Red star closed-- good company, Preston closed--great company, and New Penn (fantastic company) benefitted.

Churchill also told their owners they wouldn't concede their wages-- they closed in 94.

Previously, OK Trucking had been on a concession, failed. So was/Did ANR, PIE. CF voted it down, closed. There were others, I can't think of them right now. While I was at Preston, one guy started there who had come from 7 other companies, all closed; that was when everyone started actively thinking we'd be next......

Some of the guys at the bottom of YRC's Board in Indy, for example, since '90-- have worked for ANR, closed- went to Preston, closed, went to Crouse, closed- went to Yellow, laid off-- went to Parker, closed- went to CF, closed- went to Holland (casual); called back to Yellow; laid back off-went to (can't think of it-- a small regional 15% giveback one , started with an A, based in Mich- closed) finally hired at Holland, laid off at Holland-- now called back. And then people say "anyone who's been in the Teamsters for a while have a lot of stable, financial experience." Not good times, when the Giant is finally about to collapse.
 

superstar

Member
At the time there were still plenty of other Teamster carriers to move to, now there is................ah ............... 1 other carrier left.

Exactly. ( worked there ) I remember all too vividly being called a liar by the roadmen when I told them what the President ( Bill Clifford ) and VP had told me. (VP Jim Hood) I also remember being stopped in the rain on the loading ramp by the same roadman telling me he was sorry for calling me a liar when he saw what happened. It's hard to accept the truth sometimes.
 

jimmy g

Kook
Premium
In the end, the Market always finds its level. Prior to Deregulation, Government forced high prices to Consumers so we as Unionmen could enjoy artificially good pay/benefits. Now, Consumers enjoy lower prices, so someone has to artificially support us if we are keep enjoying our pay. It's the Banks that do that, and they are tiring of it. I've enjoyed making quite a good life off the artificially high pay/benes, but now it appears the Market is finally leveling it back to where it should be.

Face it-- like it or not, in a Bad Economy, we either join the crowd, or die; can't grow out it and Service the Debt. Eventually you are Slave to that which controls you-- and the Banks control us thru Debt. Simnply the way it is. People that say "Hoffa did better in the 50s-70s" aren't facing Reality. That was under Artificially-subsidized times of Regulation. There were no cameras watching how people were 'convinced' to join the Union. Now, Harrassment Charges would be placed to stop Organizing. Completely Different Times. Either we are subsidized by the Banks, or the Government. And the Banks finally are tiring....The Government is overextended....No way to pull this one out, IMO.......Not with a Marxist-type Government caused Depression coming....

Now-- Having said that-- It Appears the Union and the Banks have reached a plan to POSSIBLY let us continue to reap some of those somewhat relatively still high-paying jobs instead of just becoming unemployed, and many are simply saying "No, Unemployment is better". In the words of Mr Spock: "That, Sir, is completely Illogical...."
 
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jimmy g

Kook
Premium
People have to realize Debt is always a killer. Whether in our own homes, our company, or the Nation. The Banks were artificially subsidizng our pay/benes, and they got in trouble with a slow economy. The Government bailed out the Banks. Now that has caused average people to not have money to buy things, so goods aren't being produced, shipped. That hurts our jobs. Now the Banks are running out of Stimulis Money, so they are tiring of carrying us. The Obama Admin won't renew the taxCuts, so the Banks have to pay more next year. Who suffers? The workers, who get laid off or closed up. Lesson-- Debt kills, Big Government is nothing more than Huge Debt, personified.....Eventually, the Bills come due.
 

SuperCourse

I live Here
So how's this all going to play out with wages going down and the Fed talking quantitative easing and ramping up inflation and the dollar plunging in value? Looks like the return of Feudalism to me. Be prepared to enter the realm of the "working poor".
 

suicyco

Member
They knew it would be voted down.

They thought there was a very good chance of approval, so they pulled it. They wanted the co. to close so CCX could reap the benefits. They realized that if the union went with it that it would prolong the outcome that they wished for. They didn't allow the the union to push as hard as they have for you guys they didn't want to take that chance. They didn't want it to get stretched out for years like with YRC.
 
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