it all depends if yrc excepts yrc offer of 5 bucks an hour for the pension payment, pension payment should be around 8 bucks an hour now, yrc will try to get the teamster to accept around 5 bucks an hour, witch is 900 a week for retirement, now if they do not except, yrc will go under, then the pcgb will kick in and the max payment for a retiree is 340 dollars a week wich is less than 2.25 an hour,or around 12,500 a year, if they take the 5 bucks an hours its 43200 a year.
"The PBGC provides a maximum of $12,870 in annual benefits to retirees under a multi-employer pension plan, but would have to provide full benefits under Casey's bill, McMahaon said. "
also the pcgb will go under in 5 ears, if yrc does not ecept the 5 bucks an hour, that means no pension for any body.
so that is a 40% savings and the teamster have no choice but to except, also congress will pas the ophan reform bill and that will cut another 40% off
yrc will pay 150 mill a year instead of 500 mill a year.
so no bk, also Congress has another bill to have payment spread over 30 years.
Guys this is so cheap here and the teamsters will except the deal, and ycr can work on being profitable again
That is silly
If YRC cannot make $$$ without any pension contribution, how will they ever make $$$ with a $5.00 per hour contribution.
Let's be honest, YRC is finished. Teamster LTL carriers are finished.
Time to move on.
they cant pay it because customers left, they are returning, the bill count is the highest it has been , only to get stronger in the 3rd quarter, it really depends on this quarter to see if the are with in guidance.
if they pull in 1.2 billion they will post a postive ebtia, they posted 1.4 bill before on this volume last year, we will see.
it depends on this quarter, ta.
we will see they might deffer payment and when they renter, it will be 5 bucks an hour,it really depend on congress with this bill , if the ophan payment are taken care of, then then the teamster will take 5 bucks an hour, that is 80% off,
80%, also they will be able to pay over 30 years like a mortgage now.
so they might only pay 50 mill a year when all said and done, they can pull it off ta, it depends on this and the 3rd quarter.
You are 100% correct...Obama will not absolve YRC of their pension obligation. They are not vital to the economy like GM or the banks who received bailouts. Plenty of capacity for the existing LTL carriers who are not in dire straits.
I agree, but every union comapny is in trouble, if you even went to another I dought they would even give you 5 bucks an hour for the pension, and if yrc goes, under, no pension for anybody,pcgb will only cover 12500 a month only 340 bucks, if you get 5 bucks an hour you guys can salvage 900 bucks a month for 43 grand a year, also the pcgb is bankrupt, I dought you would even get the 12 grand a year,its in everybody interest for yrc to survive, if it does not, no pension, no job, I would like to see zollars fired, but it is what it is, I am sorry, but this means yrc can start paying into the plan again, and if they get ophan relief, I bet they will give you more money in higher wages down the line when they double the businesse, also the new ladie is 100% for the teamster, it will work out, but yrc needs this, or everbody is f%cked.
also the thing with the orpahns , its not only for yrc, all the union comapnies are pushing for it, cause that is not fair too.
yrc is on life support, if they get this, they will be able to grow, and give you guys higher wages down the line.
you know who get F6cked, is the young guys, they have to work for the oldtimmers, but they wont retire till 70,
this will all get worked out, I dont know about you but 43k bucks a year sounds good to me, especially knowing that I would get nothing other wise.
if this does get worked out, yrc stock will trade 25 to 40 bucks, after the split.
if this drops a little after the split I would buy a few thousand shares and hold, because I know it will be worked out. I know it.
this is not a trick, they do not except, no job, or pension, and if you get another job, I highly dought you get a better deal, cause they are all suffering, 43k or so a year is a Cadillac program these days, what you wont take take, its better than 12k a year if pcgb has to kick in, you do not want that, you need the comapny alive so the youngster pay for you retirement if not, you need to work till you drop dead, so pleas guys take the 5 or so bucks they offer, and let the young guys stay working so you can retire, if not all of you are f*cked,.
its all of the above, and if the economy did not tank, yrc would be fine, but the, ophan payments dragged this company, with the high pension payment, its just like oil, if oil does not stay above 65$ a barrel, the small oil companies do not make money.
same thing with yrc, but look at abfs too, they are hurting, the union payment are to high, people cant afford to pay each retire with gold plated pensions of 60k plus a year, not in these hard times, 43k is very good , its fair and the comapny does not have to go under, and if the economy comes back, wages will increase to compensate.
What he's trying to tell you teamsters, is that your not going to come out ahead on this, one way or the other. And he probably works for the Union, and he needs your Union dues to continue every month, or he won't have a job either.
not true, if they except the 5 bucks an hour, it will be over 40k a year in benefits if not yrc goes under and they get 12 grands a year from the pcgb, and they will be bank rupt in 5 years, listen 43k a year is very good, and I am sure if yrc recovery fully, the benefits will increase cause there is going to be a shortage of drivers when the economy rebounds fully.
they will get 3600 bucks months, and yrcs save 40% ,yrc cant afford 8 bucks an hour, plus actually no comapny can, things changed, but its still good money, and if you invest on the side, you can retire very well.
yrcs will have orpahn payments taken care of, and they will ecept the 5 bucks an hour, would you, knowing it that or nothing.
yrc, will save 80%, they will be able to survive an grow again.
if yrc save this, you want to hold, cause yrc will be 40 bucks a share again, if the teamsters except.