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realityofitall

realityofitall

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anyone have a ball park idea on how much the employees have given back as far as compensation and vacations and pension contributions since they enacted the 15%.

Also, what was the normal pension contribution rate for YRC ? Did it change by region of the country or was it a set amount for all ? I have heard it was upwards of nearly $16,000 per person.
 
YES , Driver's on a avenge of $10-K per year and at say just 8 years is $80-K or 10 years be $100-K and then take that times number of driver's of all four companies !!!:greedy dollars:
 
jimmy g said:
Here we go again....

Since the IBT voted in a wage concession to keep YRCW in biz- you gave back nothing. You got paid wages of $80k @ year for 10 years that you might never have collected otherwise. Reduced wages is one of many reason that I left...
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Exactly, jimmy g. YRCW owes no one anything. You cannot "get back" wages from previous years, it was something you agreed to give up. If you are a current YRCW Teamster, you have chosen to remain. And by remaining you agreed to work for a specific wage and benefit package. Whether you voted yes or no on ANY MOU proposal. And to those who hired on after the MOUs took effect, you knew what was offered to new employees. Instead of voting no with your pen, you should have voted no "with your feet". Many did, and discovered there is life after YRCW. And, frankly for most it is a much more satisfying work environment. Quite a few here will disagree, but this isn't a popularity contest. And the FACTS speak for themselves.
 
Total giveback around $7.5 Billion! Full pension and 15% around $750 Million a year vote no they still haven't even paid off the debt.
 
Jaloc said:
Total giveback around $7.5 Billion! Full pension and 15% around $750 Million a year vote no they still haven't even paid off the debt.
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Do you have FACTS to back up your absurd claim. From the 3Q SEC report.
"At September 30, 2018, the Company’s outstanding debt was $904.4 million, a decrease of $58.0 million compared to approximately $962.4 million as of September 30, 2017."
Do you think new tractors, trailers, spotting horses and forklifts are free?????
Without the MOUs, your job would have VANISHED a long time ago. I will repeat, if you or anyone else is dissatisfied, alternative employment opportunities abound.
The financial hole that Bill Zollars left behind after his reckless attempt to become the next Fred Smith was ENORMOUS. And will be many years before it is paid off. Especially if current economic conditions persist.
 
albag said:
Do you have FACTS to back up your absurd claim. From the 3Q SEC report.
"At September 30, 2018, the Company’s outstanding debt was $904.4 million, a decrease of $58.0 million compared to approximately $962.4 million as of September 30, 2017."
Do you think new tractors, trailers, spotting horses and forklifts are free?????
Without the MOUs, your job would have VANISHED a long time ago. I will repeat, if you or anyone else is dissatisfied, alternative employment opportunities abound.
The financial hole that Bill Zollars left behind after his reckless attempt to become the next Fred Smith was ENORMOUS. And will be many years before it is paid off. Especially if current economic conditions persist.
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How is it an absurd claim? There should have been in the MOU that a certain percentage of the giveback goes to paying down the debt. Maybe they should lock the gate I don't really care anymore if we don't get back either the 15% or full pension I'm voting no. The debt will never be paid off.
 
Jaloc said:
How is it an absurd claim? There should have been in the MOU that a certain percentage of the giveback goes to paying down the debt. Maybe they should lock the gate I don't really care anymore if we don't get back either the 15% or full pension I'm voting no. The debt will never be paid off.
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When are you going to understand that there was no "giveback" of money. No one got money to give back. The MOU only allowed the company to pay a little less for our labor. That saving allowed them to refinance the original loans which were coming due and to purchase some badly needed equipment - tractors, trailers, etc. They also paid down a decent portion of their long term debt at the same time. Since you don't care if they "lock the gate", why don't you seek employment where the pay is more to your liking? What's stopping you?

PS - Corporations carry long term debt almost all the time. YRC's is just a bit too high currently.
 
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