YRCW ask Teamsters for "relief"... - Page 2 - Truckers' Trucking Forum | Message Board

latanea · **^ Top** #11 11.25.2008

First meeting ended about 3 hours ago -

so far no mubers have been run by us - but it looks like a concession will be offered up for a vote.

I would expect a freeze on raises - and perhaps up to a 15% pay cut.

The thing that is bugging a lot of us are the 8 letters since november 2006 from our CEO and CFO about how strong our cash flow is...

and now that their credit rating was devalued - they say they are hurting...

add in the 12.8 million they gave to st judes charity last month...

and the 30+ million they spent on a NASCAR team last year...

wow.

ironeagle2006 · **^ Top** #12 11.25.2008

They Sponsor a Nationwide series team. A top flight one of them costs less than 4 million a year in PRIMARY SPONSOR Dollars. For a Sprint Cup team 4 million will barely get you on the Quarter panels for 3 races. For a Primary Sponsor in Sprint Cup it costs 15-25 Million MIN. Yet when a company loses 90% of its stock Value the UNIONS REFUSE TO HELP THE COMPANY OUT. My Father drove for Artam in the late 70's early 80's til they went under what caused it the UNION REFUSED TO GIVE ANY CONCESSIONS to the company when they were loosing millions a quarter saying the EXECS WERE LYING ON PAPER. Yet when the BANKS closed the doors the TEAMSTERS REFUSED TO HELP ANY OF THE DRIVERS THERE OUT ONE IOTA GET ON WITH ANOTHER CLOSED SHOP COMPANY. BTW THOSE DRIVERS LOST EVERYTHING THEY HAD CONTRIBUTED TO THE PENSION FUND ALSO.

latanea · **^ Top** #13 11.25.2008

There are a lot of differences between YRCW and Artam - including the fact that we have posted good gains and cash flow he last 7 quarters.

The Teamsters warned YRCW about its spending prior to the last contract - THAT THE COMPANY SIGNED OFF ON HAPPILY since as Bill Zollars said in May

"YRCW and the Teamstters will continue to have a great working relationship for the future - and bothe sides will enjoy the rewards that come from a strong team..."

All of this has come about because of YRCW's creit rating -

we are still making more than a 2 million a week in profit - The problem lies in Management's insistance on spending and using credit instead of operational cash.

AND as stated before - there were already concessions - the 2008-2013 contract was full of them.

anyway

once I have hard numbers in front of me - I will post the proposal.

latanea · **^ Top** #14 11.25.2008

Appears that the second meeting is underway.

A final meeting will be held in Scottsdale, AZ on 12/3/2008 from 10 am until 2pm.

Teamsters have made it clear to YRCW that benefits (H&W) are no touch.

Hourly and mileage will be the only areas of concession.

latanea · **^ Top** #15 11.25.2008

latest "official" word..

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

david_simms · **^ Top** #16 11.25.2008

Any idea as to what the ask is by the Company? What do yu think the Teamsters are willing to give up versus what Zollars wants? In my opinion, Teamsters should take paycut in exchange for sizeable chunk of equity in the Company. That's what I would do if I believed in this Company. Your views on the Teamster expectations as well as the Company's expectations on the contract would be much appreciated.

Cybergal · **^ Top** #17 11.25.2008

Quote:

Originally Posted by david_simms

Any idea as to what the ask is by the Company? What do yu think the Teamsters are willing to give up versus what Zollars wants? In my opinion, Teamsters should take paycut in exchange for sizeable chunk of equity in the Company. That's what I would do if I believed in this Company. Your views on the Teamster expectations as well as the Company's expectations on the contract would be much appreciated.

Right now it appears to me that the Drivers and their families will be the focus.

These bigwigs sitting in their plush chairs in decked out offices should be taking pay cuts, etc....as well.

With that said; I would much rather see pay cuts and issues worked out then any company going under completely.

This situation will tell if the higher ups care about their employees and if they are willing to work this out.

As far as the Teamsters are concerned in this, I believe they would bring to the table pay cuts and other avenues to their members then a final end to anything.

We shall see.

walleye · **^ Top** #18 11.25.2008

Quote:

Originally Posted by latanea

we are still making more than a 2 million a week in profit - The problem lies in Management's insistance on spending and using credit instead of operational cash.

They are making a profit,....and still want wage cuts????.......

david_simms · **^ Top** #19 11.25.2008

any idea as to what the extent of the wage concessions will be?

latanea · **^ Top** #20 11.25.2008

Quote:

Originally Posted by walleye

They are making a profit,....and still want wage cuts????.......

yup...

problem is they have a few HUGE "mortgage" payment coming due soon...

and their operational debt is growing due to all the other econ factors.

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