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UPS Union Issues
Crisis: yrc, ibt, pension funds
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<blockquote data-quote="705red" data-source="post: 565000" data-attributes="member: 5229"><p>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.</p><p> </p><p>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.</p><p> </p><p>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. </p><p> </p><p>IMO Yrc will take more concessions and eventually file bankruptcy and everyone will get screwed over this. </p><p> </p><p>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.</p><p> </p><p>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.</p><p> </p><p>I wish all my brothers and sisters at YRC the best and I truly hope it all works out in the end.</p></blockquote><p></p>
[QUOTE="705red, post: 565000, member: 5229"] 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. [/QUOTE]
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Crisis: yrc, ibt, pension funds
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