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XPO | Xpo Union Thread.

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Dracula said:
Do you really think that CentraL States can pay off a loan? The auto companies made a product, which resulted in their ability to pay off their loans. What product does the pension plans make? I've been working for over 40 years and my Fidelity pension plan, with company match, is a 401k worth almost 7 figures. It's under my control and under my name. What you got?
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There is a distinct advantage to a defined benefit plan as opposed to a defined contribution plan. A defined contribution plan, like yours can be great. You seem to have done well with it. The problem is that it's future health is tied to the market and I have first hand information on how poorly that can go. Too long a story for here. Here's a little advice I wish someone gave me 10 years ago. Find a top notch financial advisor to guide you through the next 18 months. Don't count on your ability to time the market. You might get lucky...you might not. If you worked 40 years, I'm assuming you're close to retirement, like me. Young folks can wait out a recession. Don't know about you, but I can't.
 
GO40 said:
You keep using YRC & ABF in the union/pension debate, don't forget about UPS. Just because they don't contribute into central states anymore they still contribute into other plan's. Now can you tell me where you got your information regarding the carhauler's contract?
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https://teamster.org/news/2019/08/voting-jack-coopers-last-best-and-final-offer-take-place-sept-6-9

The reason I go back to ABF and YRC and CSPF is because that’s what affects the most people. I don’t give a flip about the other funds, the guys involved in those funds are lucky but a majority of Teamsters are going to be shafted by the CSPF debacle.
 
Hollywoodz said:
There is a distinct advantage to a defined benefit plan as opposed to a defined contribution plan. A defined contribution plan, like yours can be great. You seem to have done well with it. The problem is that it's future health is tied to the market and I have first hand information on how poorly that can go. Too long a story for here. Here's a little advice I wish someone gave me 10 years ago. Find a top notch financial advisor to guide you through the next 18 months. Don't count on your ability to time the market. You might get lucky...you might not. If you worked 40 years, I'm assuming you're close to retirement, like me. Young folks can wait out a recession. Don't know about you, but I can't.
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Yep, I am an old geezer just a few months shy of retirement and heaven on earth. Thank you but I'm out of the market. I'm into buying the fixed rate market plus some mutual funds , that I trust. I will use the fixed rate to supplement my Social Security, which no politician will ever touch. They may talk about cutting it but they'll never do it.
Here's to us old geezers. Let the youngsters have it, we've put in our time. Have a nice day and good luck to you, sir.
 
Hollywoodz said:
Do you really believe that these people are NOT troubled by living their lives in the shadows; especially now. You can't possibly believe that. You have no clue what it's like to live every day in fear. Do you know any illegal immigrants? They would jump at any chance offered to legalize their status and gain a path to citizenship. Many more would jump at the same chance to legalize and be legally permitted to be with their families in the off season, until it was time to go back to work. Yeah, give me a break.
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I grew up in Southwest Missouri (large population of illegals working in the chicken plants close by) and I saw them every day. They rolled into the grocery store I worked at in high school, didn’t seem to be bothered with anything. Didn’t bother to learn English, didn’t bother to assimilate into American culture, walked about in plain sight, drove cars without licenses, and received benefits, most usually on behalf of the anchor babies they had to allow them to stay and receive benefits. It’s all in black and white.

https://www.google.com/amp/s/www.wa...s-on-welfare-4-6-million-households?_amp=true
 
Hollywoodz said:
They may not be organizing LTL very successfully, but new contracts are being ratified every day. The repayment money will come from expanding membership and good management of the fund.
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So you admit those new contracts are being ratified and would be used to bail out CSPF in the form of loan repayment? So how do you explain using money that is not being deposited into CSPF funds by members not covered by CSPF to fund CSPF??
 
Hollywoodz said:
Neither naive or desperate and I never assume anyone is stupid. It is not a con job. It's a economically feasible plan to resolve this issue. The plan makes some assumptions, certainly, but it seems that even Republicans agree that it's worth the small risk involved, as the bill was passed in the House of Representatives last month.

Union membership is on the rise again and will continue despite the stalled efforts of the XPO campaign. And you will see that the XPO campaign will move forward again soon. There is a surge in recipients currently, as baby boomers retire and the current stagnant membership is clearly having difficulty keeping up. However, that situation will be reversed in 30 years and there is good reason to believe that increasing membership, good management the fund and the decline in eligible recipients will give this plan a good chance to succeed.

The bailout worked for the Auto industry, despite the deepest concerns of conservatives. This bailout could very well work here. How many of your tax dollars went to the bailout of the banks in 2009? You are aware that not all of the banks repaid the TARP money they were loaned. Did you voice your concern over that?

I'll blow my smoke where ever I choose. You can continue to do the same. Just wondering if you have a pension because you sound jealous of those who do. Maybe we should have voted the Teamsters in 50 years ago.
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It worked in the case of the auto industry because the companies involved produce something thereby generating revenue. A union doesn’t generate anything but dues money and contributions to the defined benefit plans. Which is capped by contract.
 
Hollywoodz said:
They can definitely pay off a loan under the conditions discussed before. They don't need to make a product. Increased membership, a great fund manager and dwindling pool of participants over the next 30 years. It's not guaranteed, but it's not a stretch either.

Auto companies made a product. It was a :::shit:::ty product and if it wasn't for some intelligent, forward looking management decisions, and they continued with that :::shit:::ty product, they wouldn't have been able to pay off their loans.
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So again you admit that new recruits will be guided toward CSPF.
 
Hollywoodz said:
California's Medi-Cal plan will be expanded to cover undocumented children. Some adults at 138% of poverty level will be offered coverage as well. It is not blanket coverage for all undocumented immigrants.

Assuming this will become law in all 50 states is a bit presumptuous. I know that all the participants in the Democratic debate raised their hand but that's a far cry from getting it included in the 2020 Democratic platform. They are all trying to "out Progressive" each other, at the moment. The policies included in the platform will moderate as the field narrows.
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Split hairs, go ahead. And if they moderate too much they’re going to lose their base, who are insane. Then they won’t show up to vote.
 
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Hollywoodz said:
Back to union business. Here's a question to all you anti union people. If Hoffa lost the next election for Teamsters president, would it change your opinion about the organization?
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I have no problem with unionization. I have no problem with the Teamsters themselves. I do have a problem with what the Teamsters have become under Hoffa’s “leadership” and all the corruption that has gone into killing CSPF, because that’s the fund I would be in if I were a member. Not all of it is the union’s fault, but tell me, how many of those mob loans to build Vegas actually got repaid? Further, if Hoffa were removed (never going to happen because of the International vote that keeps him, it’s not just pissed off US Teamsters that vote in an election), how many of his cronies would have to be removed as well to solve the problems he created? The best solution going forward is a union that isn’t the Teamsters. Unless they totally cleaned house and combined all the funds into one to give everyone a chance at retirement. Then maybe you could repay Butch Lewis loans. Other than that, I want nothing to do with the Teamsters.
 
Dracula said:
Do you really think that CentraL States can pay off a loan? The auto companies made a product, which resulted in their ability to pay off their loans. What product does the pension plans make? I've been working for over 40 years and my Fidelity pension plan, with company match, is a 401k worth almost 7 figures. It's under my control and under my name. What you got?
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Whats the largest gain/loss you seen on a statement
 
Songremainsthesame said:
The lawyers from the union and the reps write the contract. If you think the members have anything to do with that you’re dreaming. Look at the YRC debacle, the ABF contract that everyone seems to be dissatisfied with, the carhaul contract that was actually decent and is going to get ripped to shreds now that Cooper can’t pay and is going to either be sold and the pension is going to be further jeopardized (bad) or be company is going under (worse). If the membership has any say in a contract, why do most bitch about the outcome even though they vote it in? And what’s this illegality you’re speaking of? Why would it be illegal to bring a new carrier into a defined fund? And why would the company care? I’ve been told by plenty of union members that pension is theirs, not the company’s, why would the company care? And as far as ratification, you can see how YRC and ABF have gone, contracts were stinkers and they were ratified. If the union says “that’s all you’re gonna get” then what choice do you have? I’m sorry, I think all you guys at XPO are getting a raw deal and I would probably have voted yes if I were still there and my barn held a vote. XPO isn’t doing anything than further ruining something Con-way started ruining. But it’s not 1975 anymore. If you somehow think the union is some magic bullet that’s going to cure all the ills you are facing with XPO, I know a guy that’s got some prime real estate I’d like to show you as well.
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My experience in negotiating contracts at all four of the companies I worked at under a CBA was quite different. We DID have input, and it DID make a difference in how those negotiations played out. Months before the contract expiration date, the BA sat down with the rank and file and we were given a list of things being considered, and we ranked them top-to-bottom as far as importance to us. We also had individual recommendations as well. Results were ‘averaged out’ and the BA took that info with him to the national meeting, and relayed it to the panel.
 
Trucker 206 said:
My experience in negotiating contracts at all four of the companies I worked at under a CBA was quite different. We DID have input, and it DID make a difference in how those negotiations played out. Months before the contract expiration date, the BA sat down with the rank and file and we were given a list of things being considered, and we ranked them top-to-bottom as far as importance to us. We also had individual recommendations as well. Results were ‘averaged out’ and the BA took that info with him to the national meeting, and relayed it to the panel.
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We have 2 drivers in each negotiation and they along with union leaders and lawyers write each proposal that’s presented to the company. Drivers have the say in the end when crafting the proposal at the table and will have the final say at ratification. Period.
 
ED FORCE ONE said:
Whats the largest gain/loss you seen on a statement
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Saia's 401k plan limits the number of funds available for purchase. Most are junk but the key ones, for me, are the FRGXX, FBGKX, and FXAIX. The FRGXX is where I park cash. The fund is stable, pays a little interest, and it doesn't trade in stocks. I've never lost a penny in that fund. The FBGKX and the FXAIX funds are reliable, plus there is a loophole, that allows you to withdraw funds, without setting off the round trip alarm. The market takes an 800 point plunge and I add cash to FBGKX and FXAIX plus open new positions, in a few more. The MKT rebounds, it always rebounds to some extent, and I start utilizing that loophole and withdrawing funds, with whatever profit, that Fidelity calculated I had earned on the bounce. However, the bulk of my account has always been , in cash, in the fund that pays interest. It may not be the educated way to manage my account but I know that MKT downturns will not kill me either. It takes a while to build up a nice nest egg but I've been doing it over a period of a couple of decades.
To answer your question,It's only a loss, if you sell, and I never sell. The biggest gain is how fast you can remove the cash plus profit to a non risk FRGXX account.
 
Hollywoodz said:
They can definitely pay off a loan under the conditions discussed before. They don't need to make a product. Increased membership, a great fund manager and dwindling pool of participants over the next 30 years.
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Those are the big if's. When was the last time Central States added to its membership by unionizing a new company vs when was the last time Jr let a big time company contributor buy its way out? If it was as easy as moving in a great fund manager wouldn't Nylan have been gone a long time ago? A dwindling pool of participants, aka, retirees dying off, except, with no new membership, see question one, then the actives become the retirees replacing the dead people. Where is the new money coming from?
 
Hollywoodz said:
They can definitely pay off a loan under the conditions discussed before. They don't need to make a product. Increased membership, a great fund manager and dwindling pool of participants over the next 30 years. It's not guaranteed, but it's not a stretch either.

Auto companies made a product. It was a :::shit:::ty product and if it wasn't for some intelligent, forward looking management decisions, and they continued with that :::shit:::ty product, they wouldn't have been able to pay off their loans.
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But they did pay off their loans, with the sale,as you put it, of :shit:ty products. Central States can't fall back on :shit:ty products because they don't make one.
 
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