Crisis: yrc, ibt, pension funds

Discussion in 'UPS Union Issues' started by JonFrum, Jul 15, 2009.

  1. JonFrum

    JonFrum Member

    From TDU . . .

    "July 14, 2009: The tentative deal with YRC contains an additional 5% wage cut, a reduction in H&W contributions, and an 18-month pension contribution termination period, as well as union proposals.

    If approved in a membership vote, the additional pay cut (approximately $1.16 per hour) will go into effect immediately; the pension termination period will begin July 1 and end Dec. 31, 2010; and the contractual health and welfare contribution increase due on Aug. 1 will be reduced to 20¢ per hour.

    The temporary pension termination is the biggest item, a cut of $7.60 per hour in pension contributions for the first year of the 18 months, and $8.20 for the latter part of 2010.

    With 32,000 Teamsters working, the 18-month pension termination would save YRC about $772 million. The 15% pay cut (previous 10% cut plus additional 5% cut) would save YRC about $290 million per year. The union hired experts from MergeGlobal to review YRC’s finances, and they report that this level of relief is necessary to save the company.

    Ballots will be mailed out to some 50,000 working and laid-off Teamsters on or about July 17, just three days after the tentative agreement was revealed to local union officials at a Chicago meeting. Then it will be up to the members.

    The union gained an appointee to the board of directors, a corporate turnaround expert in place at YRC, and the ability for members to obtain more stock options.

    Additionally, some of the job protections put forward by TDU were added to the tentative agreement: extending recall rights to 10 years; return of Teamster office work that was subcontracted to India; improved “card check” rights to make it easier to organize nonunion units; and some limit on work subcontracted out through YRC Logistics. Unfortunately the diversion of work to YRC Logistics is referred to as “alleged” in the proposal (section 14).

    Many locals will hold meetings this weekend, July 18-19. YRC Teamsters should ask questions, get informed and cast a vote.

    Click here to see the IBT’s two-page summary of the tentative agreement with YRC.

    Click here to read the IBT's Memorandum of Understanding with YRCW."

    - - - - -
    YRC was probably the second largest contributor to Teamster pension funds, behind UPS. It was the largest contributor to Central States, now that UPS pulled out.

    YRC is also a competitor of UPS in the freight business. Which kinda makes ya look at the massive concessions the Teamsters are giving YRC and go . . . Hmmm?
  2. City Driver

    City Driver New Member

    man did i ever dodge a bullet, i just left Roadway a few years ago
  3. Solidarity413

    Solidarity413 New Member

    Start the TDU
  4. upssalesguy

    upssalesguy UPS Defender

    i say let them go out of business...more jobs for a financially stable company with a good relationship with the IBT....see ups.
  5. Bubblehead

    Bubblehead My Senior Picture

    Brings the number 6.1 billion to mind.
  6. 705red

    705red Browncafe Steward

    Fellow Teamster brothers and sisters if this quotes isn't enough to want to vote Hoffa out i don't know what it would take!

    A management employee talking about having a good relationship with the IBT?
  7. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Imagine all the people
    Living life in peace
    No need for greed or hunger
    A brotherhood of man
    Imagine all the people
    Sharing all the world

    You may say that I'm a dreamer
    But I'm not the only one
    I hope someday you'll join us
    And the world will live as one
    Last edited: Jul 17, 2009
  8. upssalesguy

    upssalesguy UPS Defender

    please. the IBT need UPS just as bad as UPS needs the IBT. is it time to teach UPS another lesson? is that what you are saying?
  9. 705red

    705red Browncafe Steward

    Absolutely not. Our current UPS leaders do not need nor want the IBT, well maybe they still want Hoffa but not the locals that care for the contract.

    When management talks better about your union then the members, there is definitely something the matter with your union then. That's all I was saying.
  10. City Driver

    City Driver New Member

    im pro union, glad and proud to be union, but theres not a doubt in my mind that the teamsters get kickbacks from these companies
  11. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    I think they are called "Union Dues".

    I've seen them on General Ledger entries.
  12. 705red

    705red Browncafe Steward

    Brother you are one of the kick backs! Ups handed over freight right to Hoffa on a silver platter for all of the concessions in the UPS NMA.
  13. 705red

    705red Browncafe Steward

    Yrc is in serious trouble. I have alot of friends that drive for Roadway, Yellow and Holland. Zollars the CEO of YRC has mishandled everything from the merger. The employees have already giving 10% back and yet he has not cut his spending or income.

    Now he is asking for more concessions. He actually reminds the employees of what they have giving back to the company every pay period. There is a column that shows what they have giving back this check and year to date. Nothing like rubbing it in their faces a little.

    If YRC goes under and closes its doors this will hurt every teamster member in a multi employer pension fund. YRC does not have the buyout money that is required by law and with YRC being in debt as bad as there are we would be lucky to see pennies on the dollar.

    IMO Yrc will take more concessions and eventually file bankruptcy and everyone will get screwed over this.

    This local alone ten years ago had close to 5,000 freight members, now its easily under 1,000 with YRC making up a huge portion of those members.

    Not all of YRC's problems can be blamed on the economy. Zollars need to step aside and someone that has business sense needs to take over.

    I wish all my brothers and sisters at YRC the best and I truly hope it all works out in the end.
  14. JonFrum

    JonFrum Member

    From TDU in 2006 . . .
    UPS Management Campaigns for Hoffa
    Major IBT Employers Back Hoffa

    "October 18, 2006. Give UPS management credit. When they decided to back Hoffa, they didn’t go halfway.

    Not only did UPS management give Hoffa unlimited access to campaign inside their largest facility, the UPS Worldport hub in Louisville: UPS management literally chauffeured Hoffa around the grounds.

    Management drove Hoffa and his entourage from building to building in a company van so he could campaign throughout the facility on Oct. 13, just as ballots were arriving in Louisville.

    Are these the actions of a company that is worried about having to face Hoffa across the bargaining table—or a sign that UPS is eager for another ‘Best Contract Ever?’

    UPS management’s warmth toward Hoffa has a long history. When Hoffa first ran for office, a UPS lobbyist was caught donating cash to his campaign. After he took office, industry analysts declared that UPS was “in love with Hoffa” (Source: Traffic World).

    Before the 2002 contract talks, UPS spokesperson Norman Black told the media that, “We are certainly not dreading or fearing negotiations or anything like that. The Teamsters under its current leadership has shown a willingness to work with us…We’re very confident.”

    UPS Teamsters found out why after Hoffa gave management a six-year deal that delivered pension cuts and toothless protection from excessive overtime and supervisors working. They’ve built up nonunion subsidiaries under Hoffa’s nose.

    Leedham Campaign Strikes Back
    After Hoffa got the Louisville tour, the Leedham Campaign immediately filed an election protest over the company’s illegal contribution to the Hoffa Campaign.

    As a result, UPS was forced to give Secretary-Treasurer candidate Sandy Pope equal access to the Worldport hub. For breaking the rules, the Hoffa Campaign had to pay for Pope’s airfare to Louisville.

    Pope and running mate Mark Huckleberry campaigned at Worldport on Oct. 16. Pope told Convoy, “We had a fantastic response. Teamsters know what it means when management supports Hoffa.”

    UPS is far from the only employer that has been campaigning with Hoffa. Safeway, Yellow-Roadway, and Dial Corporation are just some of the other Teamster employers that have been caught supporting Hoffa."
  15. JonFrum

    JonFrum Member


    "YRC stock closed on Friday at $3.65, down 41 cents, or 10 percent, on volume of 12.6 million shares, according to Yahoo Finance."

    "YRC’s stock closed on Monday at $1.32, down $2.33, or 64 percent, on volume of 54.8 million shares, according to Yahoo Finance. The stock’s average daily volume the past three months is 9.9 million shares."
  16. hondo

    hondo promoted to mediocrity

  17. Pump Up The Volume

    Pump Up The Volume New Member

    YRC is also a competitor of UPS in the freight business. Which kinda makes ya look at the massive concessions the Teamsters are giving YRC and go . . . Hmmm?[/QUOTE]

    UPS salespeople recommend FedEx Freight for a reason. It's called union busting. One more down!
  18. tieguy

    tieguy Banned

    definitely would not want a good working relationship with the union , oh hell no , anything but that. :wink2:
  19. tieguy

    tieguy Banned

    now I'm confused. You say UPS helped increase teamster membership and helped make them stronger in the process.

    and you say this type of working relationship is bad for the teamsters?

    I must have gotten too much gas on the table. :peaceful:
  20. 705red

    705red Browncafe Steward

    When ups members are forced a raw deal in exchange for a card check agreement, yes I would say that is not the kind of relationship i dont want to see between union and company.