Con-way issued its 10-Q on 3rd Quarter (July-August-September) and didn't mention that some of its terminals voted union. Here's Double Yellow's thread: http://www.thetruckersreport.com/tr...65601-con-way-q3-results-truckload-miles.html
Con-way's a billion dollar company. Net income last quarter alone $45.6 million dollars. Says it will spend $60 million on annual pay increases in 2015, double what it has in the past. They're using more owner operators in truckload and company driver miles in truckload are down almost 5%. Having trouble keeping/recruiting company drivers. Wonder why?
Heartland/Gordon has announced detention pay after 1 hour wait in hopes of stealing drivers from the likes of Swift and Con-way, who also announced pay increases earlier.
Adds up at the end of the year, I suppose. Con-way's sitting on $457-million in cash and cash equivalents, so I wouldn't shed a tear for them.
Stock (CNW) was down Feb-Mar this year, climbed pretty steady until mid-September when it went into a slide. Came back up some, then back into a slide. Street view of Con-way is 'bear-ish'.
Con-way can AFFORD to pay more, would help the economy (drivers and their families will spend that much needed $$ fast), help trucking as an industry and might just buoy up that stock as driver turnover drops.
Could start with detention after 1 hour...
Conway Truckload; A Very Low Paying Job
Discussion in 'Report A BAD Trucking Company Here' started by Surfer Joe, Jun 13, 2014.
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And so the trend away from employees and toward no-benefit, no-expense "contractors" continues ...
double yellow Thanks this. -
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Who doesn't know about the labor troubles? Individual investors. Folks too busy with their every day lives to follow the market gyrations & who get the company's pulse from the quarterly & annual reports and investor relations press releases. This includes a lot of Con-Way employees since CNW is the only individual stock they can purchase in their retirmement plan (the rest of the choices are managed funds -- an investment class that statistically underperform the market after fees are deducted). -
Ya know; I gotta give my thanks to Double Yellow for his Quarterly "Stock Report".
Although I would change the wording from "labor troubles" to "corporate abuse", especially since the first was created by the latter.
Whoever the "presstitute" was that actually wrote the report must have been in a quandary; after all, the resurrection of any union activity can really hinder both profits and stock value, let alone provide a catalyst for critical thoughts from employees. Might even enlighten the public shareholders as to where, exactly, their "earnings" are going...
Very simply put; The only reason that unions were not mentioned in the report is direct proof of the corporate fear of collective bargaining.
Or of loss of total employee control, to all you anti union buffs.
If misinformation doesn't work, then the next best thing is no information at all.
This strategy has been deadly to the middle class; in fact, it has worked so well that it's actually gotten people to vote against themselves, to the benefit of some really, really rich guys that employ them.
The game is rigged folks; it's their playing field now and they make all the rules.
The final blow can be said in just four words: Too big to fail.
And now for a little pilferage: "If we don't hang together, then we will surely hang alone".
Gawd, I love that line.Last edited: Oct 31, 2014
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At least the teamster bosses (and their surrogates) can be voted out by the members:
Good luck ousting the CEO's.Victor_V Thanks this. -
CEO's are ousted all the time. Yet crooked union bosses are shielded from corruption probes at the behest of friendly administrations. They remain just as rich and you still pay for it one way or another.
Lonesome Thanks this. -
CEO's getting the boot is so rare that it makes the news; cause' it's such a rare occurrence.
And crooked union bosses (if you can find one) last only until the union members vote them out. And they do.
All that Jimmy Hoffa rhetoric is getting really tired; as in like over 40 years ago.
About the only thing that any worker these days truly pays for is their rightful monetary worth (along with their pensions, savings, and real estate holdings); to the benefit of top management thieves in the corporations.
And nice try on the "friendly administrations" card; people are becoming increasingly aware that, regardless of political party, there really is only one administration; and it is strictly, for maximum profit, Corporate. Period.
Truth is, all you paid shills are running scared; all your desperate, repetative propaganda, anti union baloney is proof of your realization that the walls that have protected you for the past 35 years or so are finally beginning to crack.Last edited: Nov 2, 2014
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