ABF | What the non union carriers think of us at ABF.

[Docker]

If you review the pension question canned by Moderator Gerbals,

Now...here you go...calling names...but you are the one that starts crying and whining like the big baby that you are when they give it right back to you. Why is that? Is that because you were over protected as a child and it's just the fact that you are a spoiled whiny little brat?

 

[Docker]

Are you questioning whether ABF lost 155 million in the last 3 years?[

By the way...it's time you check back in with the company...they now have raised that to 230 million in the last 3 years...I guess that 155 milion just didn't sound frightful enough!

 

[nothumbleenough]

By the way...it's time you check back in with the company...they now have raised that to 230 million in the last 3 years...I guess that 155 milion just didn't sound frightful enough!

Don't have a clue as to what ABF may be saying in its latest propaganda put out on its website created to appeal to drivers during this negotiation. I don't believe it is stretch to call it propaganda just like some of the information Moderator Gerbals is also putting out. It is a certainty that both sides are more interested in manipulation than truth. The 155 million is a matter of public record and also a fact. So is list of bankrupt carriers in my tenure as a Teamster.

We will continue to discuss the facts and let all the Teamsters who look through these threads be the ultimate truth-teller when it comes to contract approval time and I for one have no problem telling you I will support the will of the majority.

 

[truxforever]

Docker When you look at the numbers they don't add up 2008 ABFS made a 38.9 mill profit, 2009 was a lost of 71.6 mill without the 64 mill, 2010 was a loss of 37.5 mill, 2011 was a profit of 6.9 mill and so far 2012 0.1 mill profit. Add all of this up and since 2008 they have a lost of about 63.2 mill (plus the goodwill charge which is a lost on paper). In 2008 ABF had about 250 mill in the bank. Take the 63.2 mill lost out and you have 186.8 mill left. Take out 4 mill for the Albert moving company you have 182.8. Take the 80 mill for Panther and you have the 102.8 mill left in the bank if you check ABFS cash on hand. Docker where is the 230 mill lost. Docker even if you add 63.2 and the 64 mill equals 127.2 mill in just round about numbers.

 

[nothumbleenough]

Well to tell you the truth this is not a good solution, I am not with YRCW, and ABF has been paying in to the pension fund on our behalf. I will not except pension cuts, or reductions like that has happen to our YRC brothers and sisters. I asked for a solution that will not penalize those who are about to retire, not being able to retire, or take less for my retirement is not a good option.

Ok you ask for my solution, If ABF wants a reduction in payments, I would suggest that they look hard into the new hybrid pension plan. And again if it means taking a reduction or having to wait to take my retirement then it is not a good option either. I have worked for way to long to just have it taking away. I know the pension means nothing to you, but it is something that has been bargained for and I don't expect it to be taking away just because we are getting close to our right to retire.

The pension means a lot to me. I was hired under the 2% plan and planning well over $4000 a month when I retired. Unfortunately, they changed that many years ago and I don't remember voting on it. I certainly understand why you want your pension considering the years you worked for it. I don't begrudge anyone wanting something they earned. I also understand ABF has faithfully made those same pension payments unlike almost every other union LTL. The one working Teamster for every four retired Teamsters is an overwhelming math problem that calls for hard solutions. If the rank and file believes our best interests are served by accepting a contract that rejects any pension concessions I will whole-heartedly support the Union. In the meantime, I will also continue to make my case for pension flexability so no one suffers the dramatic cuts that would take place if the pension failed.

 

[nothumbleenough]

Docker When you look at the numbers they don't add up 2008 ABFS made a 38.9 mill profit, 2009 was a lost of 71.6 mill without the 64 mill, 2010 was a loss of 37.5 mill, 2011 was a profit of 6.9 mill and so far 2012 0.1 mill profit. Add all of this up and since 2008 they have a lost of about 63.2 mill (plus the goodwill charge which is a lost on paper). In 2008 ABF had about 250 mill in the bank. Take the 63.2 mill lost out and you have 186.8 mill left. Take out 4 mill for the Albert moving company you have 182.8. Take the 80 mill for Panther and you have the 102.8 mill left in the bank if you check ABFS cash on hand. Docker where is the 230 mill lost. Docker even if you add 63.2 and the 64 mill equals 127.2 mill in just round about numbers.

2007 Total Revenue 1.83 Billion Cost of Goods sold 1.75 Billion Gross Income 82.2 Million
2009 Total Revenue 1.47 Billion Cost of Goods sold 1.64 Billion Gross Income -165 Million loss
2011 Total Revenue 1.91 Billion Cost of Goods sold 1.90 Billion Gross Income 10 Million

Does that show we have recovered on the volume side but not the Income side? Do you think the increased competition from non-union LTL are the primary reason for this margin attack? If not that, what do you speculate as to the main reason of so little difference in revenue versus income?

ABFS Annual Income Statement - Arkansas Best Corp. Annual Financials

 

[nothumbleenough]

You want more...how about you leaving ABF and either go to FedEx or ConWay where they already have their pension under control...where you should of went all along! But no...you come here after YRC's concessions...now campaigning for ABF's consessions. Like I have asked you numerous times and which you refuse to answer...why did you come to this company when you truly believed that it was barely treading water?

Now...why did you pretend to know what a goodwill impairment charge was when it was obvious that you did not?

The real reason I came to ABF,... was your warm personality!

 

[bigtruk_us]

Albeit the economy and the way the Feds have messed with mortgage interest rates have put the screws to some if not all trucking companies.As for the speculation that other non union companies.Would follow suit.If and when ABF and the teamsters take concessions.That is pure speculation and cannot be based on future events.Most non union operations have had their wages restored if not increased in pay.
The ABF lawsuit not once but twice failed.Hasnt made for good graces by the Teamster union.Because we all saw that ABF is or was making money at the time of the two lawsuits.Which didnt hold much water with the courts for a judgement in favor of ABF.ABF even asked the Union and the members to call for a vote for concessions.We know that vote was voted down.Talk about having eggs trucked into Ft.Smith and smashed into the faces of the ABF executives.I hope that you guys get a good contract.Which I believe our brothers and sisters will be satisfied with the outcome of the negotiations.All that whining and crying by ABF management.Wont get in the way of a good and decent contract.ABF is making money and will be profitable.Afterall ABF does have some good management.

 

[papajohn]

The pension means a lot to me. I was hired under the 2% plan and planning well over $4000 a month when I retired. Unfortunately, they changed that many years ago and I don't remember voting on it. I certainly understand why you want your pension considering the years you worked for it. I don't begrudge anyone wanting something they earned. I also understand ABF has faithfully made those same pension payments unlike almost every other union LTL. The one working Teamster for every four retired Teamsters is an overwhelming math problem that calls for hard solutions. If the rank and file believes our best interests are served by accepting a contract that rejects any pension concessions I will whole-heartedly support the Union. In the meantime, I will also continue to make my case for pension flexability so no one suffers the dramatic cuts that would take place if the pension failed.

I still have not heard your solution, just you fighting to give our pensions back. Also I would like to hear what you have to say about the new hybrid pension plan. Don't you think this would be a savings for the company?

 

[papajohn]

I have clearly advocated for pension relief to ABF. If you review the pension question canned by Moderator Gerbals, 67% of the respondants of that poll are open to such scenarios. So my position is not that far from the consensus within these pages. The bottom line if ABF gets to pay less and current benefits are not cut, I'm of the opinion that is good. I'm also of the opnion that ABF is the one with the ammunition in this negotiation. So in the worst case scenario, pension benefits just might have to be cut for future retirees just like they were cut at YRC as Moderator Gerbals refers to such benefits whereby "many years added to the funds life." Remember, 1 active Teamster working for 4 retired Teamsters is a desperate equation that calls for action. At least Social Security has 2.5 workers for every 1 retired and its broke.

Fear seems to be your motivating factor not to do anything. All this will do is get you run-over just like a deer in the head-lights.

If you're open as I believe you have stated previously to pension reform, why don't you put out some ideas instead of being critical of those that do!

By the way Social Security is not broke because it has 2.5 workers for every 1 retired. It is broke because Washington thinks it is a slush fund, and they can just reach in and take what they wanted, saying it is just a loan, but had no intentions of ever paying it back. It is not broke for the reasons you speak of. So you can't use that reasoning. I think they would call that bad management.

 

[Docker]

Docker When you look at the numbers they don't add up 2008 ABFS made a 38.9 mill profit, 2009 was a lost of 71.6 mill without the 64 mill, 2010 was a loss of 37.5 mill, 2011 was a profit of 6.9 mill and so far 2012 0.1 mill profit. Add all of this up and since 2008 they have a lost of about 63.2 mill (plus the goodwill charge which is a lost on paper). In 2008 ABF had about 250 mill in the bank. Take the 63.2 mill lost out and you have 186.8 mill left. Take out 4 mill for the Albert moving company you have 182.8. Take the 80 mill for Panther and you have the 102.8 mill left in the bank if you check ABFS cash on hand. Docker where is the 230 mill lost. Docker even if you add 63.2 and the 64 mill equals 127.2 mill in just round about numbers.

I see how they came up with the 155 million Truxforever. They said in the last three years:

2009 - a net loss of $127.9 million… which included a goodwill impairment charge of $64 million .

2010- a net loss of $32.7 million

2011- a $6.8 million profit

They added the 127.9 and the 32.7 and got 160.6. Then they subtracted the 6.8 and got 153.4 million and rounded it off to the nearest 5 spot and got a cool 155 million.

As for the 230 million they now claim...I haven't a clue...we'll have to wait till bookkeeper Judy comes out with that explanation...lol

 

[Docker]

The real reason I came to ABF,... was your warm personality!

Like I said...you can't come up with a reason that makes sense so you just refuse to answer...IMO...you are not a driver at all...just lower management somewhere...and dumb management at that. Like I also stated before...you should step back now that Razorbacks is here...he will represent the company in a manner that shows the intelligence and intellect that we all know they have.Even though you are trying to pass yourself off as a driver...it is so obvious that you are not and if by chance they do find out who you are...they will fire you in a heartbeat for being the dimwit that you are by babbling about things you have no clue about when trying to prove your point that we should accept concessions. In other words...you are doing the comapny more harm than good by showing your ignorance on such matters as the goodwill impairment charge...which...by the way...what was your definition of that again?

 

[Docker]

Don't have a clue as to what ABF may be saying in its latest propaganda put out on its website created to appeal to drivers during this negotiation. I don't believe it is stretch to call it propaganda

Listen to yourself here...you contradict yourself in the very next sentence. You admit that they have propaganda on their website then backtrack by stating that it's a stretch to call it propaganda! So...just what is it dimwit?

Since you claim that the 155 million is a matter of public record and also a fact...show us the public record and how they arrived at that 155 million.

 

[Joe the plumber]

I see how they came up with the 155 million Truxforever. They said in the last three years:

2009 - a net loss of $127.9 million… which included a goodwill impairment charge of $64 million .

2010- a net loss of $32.7 million

2011- a $6.8 million profit

They added the 127.9 and the 32.7 and got 160.6. Then they subtracted the 6.8 and got 153.4 million and rounded it off to the nearest 5 spot and got a cool 155 million.

As for the 230 million they now claim...I haven't a clue...we'll have to wait till bookkeeper Judy comes out with that explanation...lol

AGR® Score
GMI

Arkansas Best Corp is currently rated as having Conservative Accounting & Governance Risk (AGR®), receiving an AGR Score of 95 percentile among the approximately 8,000 companies in North America rated by GMI, indicating higher accounting and governance risk than -- of the other companies.
AGR scores are based on statistical analysis of accounting and governance risk factors. Lower scores indicate heightened corporate integrity risk, indicating an increased likelihood of future class action litigation, material financial restatements or impaired equity performance.
http://eresearch.fidelity.com/eresearch/evaluate/snapshot.jhtml?symbols=ABFS

ABFS Equity Summary Score

..not good

copy?​

 

[nothumbleenough]

I still have not heard your solution, just you fighting to give our pensions back. Also I would like to hear what you have to say about the new hybrid pension plan. Don't you think this would be a savings for the company?

I have stated multiple times that if this hybrid dramatically reduces what ABF pays into the pension and benefits don't need to be cut, I would totally accept that. I just don't believe the numbers will allow that to happen considering the funding shortfalls. If the pension issue is fixed for the long-term, I will be happy with the next contract.

 

[Docker]

AGR® Score
GMI

Arkansas Best Corp is currently rated as having Conservative Accounting & Governance Risk (AGR®), receiving an AGR Score of 95 percentile among the approximately 8,000 companies in North America rated by GMI, indicating higher accounting and governance risk than -- of the other companies.
AGR scores are based on statistical analysis of accounting and governance risk factors. Lower scores indicate heightened corporate integrity risk, indicating an increased likelihood of future class action litigation, material financial restatements or impaired equity performance.
http://eresearch.fidelity.com/eresearch/evaluate/snapshot.jhtml?symbols=ABFS

ABFS Equity Summary Score

..not good

copy?​

Now what is it that you are babbling about? You post this image:

Then you add the words...ABFS Equity Summary Score...not good. Let's look at what your so called Equity Summary Score really is:

The Equity Summary Score by StarMine does not predict future performance of underlying stocks. The Equity Summary Score
model has only been in production since August 2009 and therefore no assumptions should be made about how the model will
perform in differing market conditions.

Finally, we suggest caution with any performance measurement analysis, including the Equity Summary Score and related
scorecards. Performance of buy/sell recommendations is only one aspect of the research offered on Fidelity.com. Although it is
useful to understand a research firm's overall track record, a research firm's performance on any given stock can diverge
significantly from the overall performance. There are additional factors beyond performance that any investor should consider in
evaluating a research firm, such as the insights provided and the ease with which the research can be used. Performance of
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https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDIQFjAB&url=https%3A%2F%2Fscs.fidelity.com%2Fcommon%2Falways-cached%2Feresearch%2F11.05%2Fpdfs%2FEquity_Summary_Score_Methodology.pdf&ei=KQXKUJviNMiZ2QXEkoGIBg&usg=AFQjCNEl-F-FTZ9JlTVzuTAJQHpak0ZO6g


I see that you also tried this BS back in May...lol

All you have to worry about is--

ABFS Equity
Summary Score

according to an article at Fidelity.com
Fidelity Investments

it's .1 less the YRC.
not good at all for either company​

 

[Docker]

I have stated multiple times that if this hybrid dramatically reduces what ABF pays into the pension and benefits don't need to be cut, I would totally accept that. I just don't believe the numbers will allow that to happen considering the funding shortfalls. If the pension issue is fixed for the long-term, I will be happy with the next contract.

I say that is BS and that you are a dimwit for even thinking that I would believe that you would accept that the pension and benefits don't need to be cut...you won't accept anything less than pension and benefit concessions!

Now...please tell us your definition of a goodwill impairment charge again...lol

 

[nothumbleenough]

Listen to yourself here...you contradict yourself in the very next sentence. You admit that they have propaganda on their website then backtrack by stating that it's a stretch to call it propaganda! So...just what is it dimwit?

Since you claim that the 155 million is a matter of public record and also a fact...show us the public record and how they arrived at that 155 million.

The Queen's English must be giving you problems. "I don't believe it is a stretch to call it propaganda" means I call it propaganda. I am sorry you don't understand the words put forth in the post. The company websites specifically created for this negotiation and the many threads put forward by Moderator Gerbals are attempts to influence others through deceptive means. IF, and I do mean if the company has put forward some story that they lost 230 million in the last 3 years, it is factually not true.
http://www.marketwatch.com/investing/stock/ABFS/financials

The public recording of profits and losses is a serious matter. If you believe ABF is somehow being untruthful in the link that has been shown many times to marketwatch showing a 155 million dollar loss for the last three years, it is your duty to call the Securities and Exchange Commission at the link provided. Good Luck Brother Docker.

Telephone Numbers at the SEC

 

[nothumbleenough]

I say that is BS and that you are a dimwit for even thinking that I would believe that you would accept that the pension and benefits don't need to be cut...you won't accept anything less than pension and benefit concessions!

Now...please tell us your definition of a goodwill impairment charge again...lol

Docker, was this your previous employment?

Carnac on Three Dog Night & Mount Baldy on "The Tonight Show Starring Johnny Carson" - 1974 - YouTube

 

[Docker]

The Queen's English must be giving you problems. "I don't believe it is a stretch to call it propaganda" means I call it propaganda. I am sorry you don't understand the words put forth in the post. The company websites specifically created for this negotiation and the many threads put forward by Moderator Gerbals are attempts to influence others through deceptive means. IF, and I do mean if the company has put forward some story that they lost 230 million in the last 3 years, it is factually not true.
ABFS Annual Income Statement - Arkansas Best Corp. Annual Financials

The public recording of profits and losses is a serious matter. If you believe ABF is somehow being untruthful in the link that has been shown many times to marketwatch showing a 155 million dollar loss for the last three years, it is your duty to call the Securities and Exchange Commission at the link provided. Good Luck Brother Docker.

Telephone Numbers at the SEC

Ok...you now admit that they use propaganda...which is a nice word for lies. So...they actually lie on their website...right?

Second...I said produce the calculations used to justify showing the 155 million dollar loss in the last three years.

Third...is this statement true>>> Arkansas Best swings to profit by ending two consecutive years of losses with 2011 net income of $6.159 million.

Fourth...so you are actually saying that by the company saying that they lost 230 million in the last 3 years is an outright lie?

Fifth...Since they have lied on numerous occasions...why should we believe anything they have to say?