ABF | What Happened To This Company?
- Thread starter GO40
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not sure I understand your point/intent other than the glass houses (which is good). Please expand your idea a little more.
Thank you
Meaning it was a great company up to about 8 years ago, now they hire unexperienced management that have no clue what they are doing. And seem to get their rocks off trying to intimidate, rush & give out nonsense letters when 95% of the issues that created are on their side of the glass....
mostly management trainees from the University of Arkansas with the only knowledge of a truck is in passing on the highway.
I agree with your post. 8 yrs ago, is that when Davidson/Slage were at the helm? It seems like it went downhill from there.
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It started to go down hill right after we told them to pound sand with their 15% give back to match YRC.
Bob Davidson was a good man as was Wes Kemp. Both were working for the the betterment company. You could talk with both & not be talked down to. Roy Slagle was for himself, that is why he got the boot.
I know that Wes Kemp and David Stubblefield were first class, but wasn't sure about Davidson, but I can buy into your thoughts.
But I knew Roy Slagle was bad news...from what I heard...
wow..yep, it used to be much better. Surprised to see that it is the best company you ever worked for...10-12 years ago I would have said the same thing...I just retired and dreaded the last 5 years.
vongrimmenstein
I stand for our flag, & kneel for the fallen
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As the family that started ABF started to retire, ABF slowly went from good to bad. As long as you keep the stock up & the Board happy Judy has a job. Of course we know that the cost to support the stock comes out of the rank & file, one way or another. von.
canaryinthemine
Retirement....The Job I Was Born To Have!
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Mr. Young and his family ran the company as a point of pride over the service to the communities served,...and the good, family-supporting jobs provided......
The shareholders run this company now,....and it's Profit over All.......at the expense of employees, customer service, community good will.......If they could shed the Union,....the employees would be making $15.00 an hour, sixty hours a week straight time,....with a few "free" hours a week thrown in....like some other LTL's I know....
And the shareholders could dance with Glee on the deck of this particular Titanic........Lookit The Profit! Where's my Golden Life Preserver?
The shareholders run this company now,....and it's Profit over All.......at the expense of employees, customer service, community good will.......If they could shed the Union,....the employees would be making $15.00 an hour, sixty hours a week straight time,....with a few "free" hours a week thrown in....like some other LTL's I know....
And the shareholders could dance with Glee on the deck of this particular Titanic........Lookit The Profit! Where's my Golden Life Preserver?
Canary, shareholders don't run the company, the CEO and other executives do. The board of directors oversees the actions of the executives and the board answers to shareholders who can vote them in/out when their terms expire. Shareholders are people like you and me who own shares of a company directly or in their IRA's or 401-K's. Don't you want your retirement to be well funded? Well if you own any company shares in any of your retirement accounts (or pension funds which also invest in the market) don't you want those shares to increase in value in order to keep your retirement solvent? Can't complain about shareholders and poor performing retirement accounts at the same time. Not when they are closely related.
I think a correct assessment is that company officials run the company & answer to the Board of Directors who answer to shareholders. Large shareholders have much at stake in the company & have a lot of influence. Along in this mix are the banks/loaning institutions who expect payments on loans.
LTLAnonymous
TB Veteran
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10 years ago, when I first got hired, it was an absolutely top-notch company. I was super excited to get the job, and was more than willing to retire from there.
And then just like the other posts said, about eight years ago something happened.
Just an observation, and not taking sides here, but first off from what I see is some critical of management, like just about every other LTL company represented on TB. If you think it is easy to hire experienced management trainees for any company, it’s not. Most of the ones they hired have degrees in a different field than transportation, because they can’t find a job in their field, and don’t want $40-50,000 starting salary for crappy hours.
ABF, as far back as I remember, has always been profitable.
Majority of equipment looks 5 years old or less.
Basically, you are paid for everything you do.
Health insurance is fantastic, especially if you compare it to some with $5,000 deductibles, and another $5-6 grand out of pocket.
Hourly wages are competitive.
OT after 8.
Pension? I know. I’m in CSPF too.
They look to be trying to stay up to date with some of these newer facilities they are opening, and not billions in debt.
And no, they don’t have the Teamsters in their pocket, like UPS does. Many from all of the LTL companies post on here how bad some upper management decisions are, or look, but until you have actually been in those shoes, you don’t really know.
ABF, as far back as I remember, has always been profitable.
Majority of equipment looks 5 years old or less.
Basically, you are paid for everything you do.
Health insurance is fantastic, especially if you compare it to some with $5,000 deductibles, and another $5-6 grand out of pocket.
Hourly wages are competitive.
OT after 8.
Pension? I know. I’m in CSPF too.
They look to be trying to stay up to date with some of these newer facilities they are opening, and not billions in debt.
And no, they don’t have the Teamsters in their pocket, like UPS does. Many from all of the LTL companies post on here how bad some upper management decisions are, or look, but until you have actually been in those shoes, you don’t really know.
So its ok to treat your employees like :
: as long as the loans are paid? I would think that would be counter productive and eventually will hurt their bottom line. If they want to treat their employees like yellow/roadway did (does) you can expect the same financial issues in years to come and im not only talking about the union employees. No one is happy anymore and that 15% pay cut that the non union employees just took will also effect the bottom line in a big way....When you take over a profitable terminal & now show losses for 7 straight years, refuse to go on sales calls and the list goes on and on. It just gets frustrating as a employee that everything that is posted on here is 100% factual and falls on deaf ears....
canaryinthemine
Retirement....The Job I Was Born To Have!
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Fair assessment.....Out of the cesspool that LTL freight has become....there's always something that ...floats to the surface.......
It seems ALL management treats the unique lifestyle and challenges of driving,....as an impediment to profits. Yet it remains the highest Liability factor in LTL occupations.
If they could only find a way to ....rid themselves of drivers.....Robot-driven trucks? Investing money in technology that takes away driver decisions? Driver-facing cameras,...because drivers aren't as....trustworthy as robots?
What about honest pay,...in an era of critical driver shortages? Instead of pay and benefit cuts,....to buy technology to eliminate drivers? Most other occupations can pay good money in...8 hours. Trucking relies on 60 hour weeks, and a vast majority doesn't get overtime.
Companies lobby for increases in HOS,....and longer trailers, combination units,....heavier weight. Surface Transportation Act of 1982 allowed for 53'ers.....17% more freight on a trailer......Did we get a 17% pay increase?
The job is more dangerous now,...because of industry lobbying for longer, heavier trucks...driven longer and farther by tired drivers....
..in an era of cell phones and other distractions....It's like driving truck in a nation full of....drunk people......
Yet,.....companies focus on cutting wages, pensions, and benefits......Improves the bottom line.........
Welcome to the trucking industry. Been that way for the 45 years I have been around it.
If they don’t fix the problems they will be another dinosaur out of business....