Since the beginning of the 15% giveback, no pension, losing a weeks vacation. 26,000 union workers have given back more than 10 thousand a year plus the givebacks management have given. Well over a billion dollars saved, no repairs on equipment, not to mention the terminal they sold and they need more for what. It is impossible to look at YRCW with a future. Happy Thanksgiving everyone
Yellow | Where is the money
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The Brooklyn Bridge is expensive.. if you go to drive on it- tell em ya bought it...
roadkill340
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Sgt. Schultz
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Papejr makes a good point. After all the money this company saved thru huge concessions from rank and file workers, exactly what will it take for YRC to show a profit? I think their business plan is to make money by taking it away from the teamster employees, not by making a profit hauling freight. If by chance YRC should show a profit in a quarter, they would rather give that money out to management in bonuses so they can cry poverty and come back to the workers and ask for more. It`s a never ending cycle. As long as the employees continue to give up more the company will find a reason to take it and then ask for more again. YRC will never be able to pay back 1.4 billion dollars of debt, they can`t even show a profit with the concessions they have and all the properties they`ve sold. This company only tells you what they want you to know. there is probably a lot going on under the radar that would surprise all of us.
dont quite get your response to papejr's observation jimmy g
He seemed to believe the employees donated one billion from their pockets into a pile, so how can YRC need more when they have that?
never mind... 
RamBigHorn
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The same place every other concession went....into customer discounts. Freight is a hyper competitive. You get in trouble financially, the competition cuts their rate attempting to bury you. So you give money to save your job, and they pass it along to customers just trying to survive. None of it goes to debt or equipment.
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Example: Joe is on a 40 hour bid. Due to decreasing business he is laid off. Does the company owe him 40 hrs pay while laid off? No. Same as the wage concession. YRC is struggling. Your choice was work for 85% or no work at all. You chose to accept 85% instead of nothing. They didn't Have 100% and withhold 15- they were broke and used money they normally used for maintenance or new equipment to make payroll to you. From their Financial Statements, there were times you were lucky the checks cleared...
They don't have a magic pile of money, and it isn't owed to you....
They don't have a magic pile of money, and it isn't owed to you....
Yep! Gotta keep Cash Flow going. Or no jobs for anyone in the corporation!
roadkill340
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jimmy g i guess we are interpreting the post two different ways.you implying that i am stupid for not seeing your side is unprovoked and uncalled for.
The company IS showing a profit, there is just too much debt that is too expensive to pay down. Were it not for the immense debt, we would be in fair shape, not good shape, not great shape.
I am not willing to give them any MORE to accomplish the need to settle the debt.
Sorry then. Where I'm from posting WTF as you did is pretty provoking and an insult. I believe the entire thread is absurd- hence my answers to what appears as stupidness...
I worked under concessions for 6 years. I understand completely that it's not Your money, but only a Feel-Good accounting trick. You can't spend it, you'll never get it back. The only fathomable way it could be yours is if you take it off your taxes. Can you??? Tell me any way it let's you actually use it and I'll gladly apologize... and you have seen me do that when proven wrong. I'm not mean, not arrogant; just right on this subject 'cause I've Lived it...
It's like an Obama lie; they have to lie to you (saying it's yours) or it'd never pass...
I agree- even I would vote against the current proposal. My experience is that companies under concessions always fail. But I normally vote For Reasonable ones to extend the time for those with little other options to either make the age to retire or complete training for another job, rather than close immediately and throw those jobless. Most with options are already gone or preparing to leave. Debt is a Killer; the USA will find that out as a nation too...
I'd say we have a problem in communication! Legalese vs reality.
The difference is recorded on the paystub because it is still the contract, amended. In Reality, the old contract ended when you agreed to work for less. In legalese they can't do that, because of the MOU. Let's say (to simplify) that a worker is now being paid 850 for 40 hours. In reality- that's the pay. That's what should be on the stub. Under legalese tho, it shows 1,000 minus 150=850. We both know that YRCW Claims that they wouldn't be in business IF they actually had to pay the 1,000. I skip the legalese and watch reality. Others do not. That 1,000 minus 15% becomes a burr under their saddle, stirring resentment, disturbing morale. I concentrate on what is reality- the 850.
This first was promulgated by Marx in 1848 thru 'Manifesto on Communism'. His opening paragraphs is that all wealth comes from the workers, stolen by the wealthy thru wages. He proposes siezing of all private property, and the State making all decisions. Communism always fails, even though our Public Education System has been proposing it since the Wilson Adminstration.
Collectivism is Great when it's private co-ops/ trade unions negotiating to raise pay and benefits for the average worker who is free to come and go at any time. However, when it becomes a religious type fervor, it becomes evil and consumes the mind thru jealousy. Ignore that there is a false '1,000' on your check; concentrate on the reality of the 850, and work to fix the things that are actually In Your Control.....
(I repeat- I'd vote no on the current proposal, too. Just for the record. But it wouldn't consume me.....)
