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AmerisourceBergen Corporation Message Board

  • cah401ktrader cah401ktrader Feb 28, 2008 5:25 PM Flag

    new 52 week low

    AmerisourceBergen Work Stoppages Possible, Teamsters Warn
    1:18 PM ET - Dow Jones News
    By Dinah Wisenberg Brin
    Of DOW JONES NEWSWIRES PHILADELPHIA -(Dow Jones)- The International Brotherhood of Teamsters plans to take a dispute with AmerisourceBergen Corp. (ABC) to the drug wholesaler's annual shareholders meeting here Thursday afternoon, with a rally warning investors of possible work stoppages.
    In a release about its demonstration plans, the Teamsters cited "reports of workers' rights violations that could lead to widespread work stoppages and service disruptions in the coming months."
    The labor group also said investors will voice concerns that AmerisourceBergen's Good Neighbor Pharmacy Network is under greater scrutiny by union-negotiated health plans because of the potential for service disruptions. Good Neighbor is the wholesaler's cooperative network of independent pharmacies.
    AmerisourceBergen, one of the nation's largest pharmaceutical distributors, said in a statement that it has been in negotiations for more than a year with the Teamsters local in Seattle, "will continue to negotiate in good faith" with the group "and expects its efforts will result in a fair and equitable outcome for all."
    The Teamsters say the company is using threats rather than negotiating fairly.
    "The workers have been subjected to intimidation tactics in the workplace, threats to lock out workers or close facilities, and walking temporary staff through the facility to demonstrate a replacement work force was ready to take their jobs, to name a few," union spokesman Galen Munroe said.
    A National Labor Relations Board official has agreed that the company violated federal laws by refusing to bargain in good faith and by making unilateral changes to production standards, according to Munroe.
    "While there are no planned work stoppages at this point, if this labor dispute continues to escalate there (is) real possibility that widespread service disruptions could occur due to future work stoppages," Munroe said via email.
    The company denies Teamsters claims that it has threatened a lockout, plant closure or replacement of workers. The Teamsters filed 10 complaints against the company, and a National Labor Relations Board regional director found three to have merit and forwarded them to the board, AmerisourceBergen spokesman Michael Kilpatric said Thursday.
    "We don't think we violated any federal labor law," Kilpatric said.
    About 80 of the Seattle-area facility's 115 employees are members of the union, the company said. Union members who fill orders there earn on average $17.41 an hour, including shift differential, while the market rate for that job in the area is $14.91 an hour, AmerisourceBergen said.
    In the event of a work stoppage, AmerisourceBergen has plans to serve its customers, including hospitals and retail pharmacies, the company said. The distributor said customers continued to receive their daily shipments when union workers staged a one-day strike at the Seattle facility last month.
    AmerisourceBergen shares recently traded at $42.36, down 56 cents, or 1.3%.
    ...ya gotta love those teamsters.... much lower can this pos go....picked up some calls today....roll the dice...

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    • With all the trouble the mgmt team is in right now, I wouldn't be surprised to see this thing drop below $40 and stay there for a while. They treat their employees like crap, announce the sale of a profitable division, and continue to under-perform quarter to quarter, go figure.

80.39+0.35(+0.44%)Oct 25 4:00 PMEDT