Results 1 to 9 of 9
Like Tree4Likes
  • 1 Post By ABFwife
  • 1 Post By fxstc07
  • 2 Post By ABFwife

Thread: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

  1. #1
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,092
    Rep Power
    900

    Default Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    There is no doubt in my mind that Judy had some very valid things to say in this testimony.
    ABF is working with a number of groups to formulate multiemployer pension plan reforms that make sense for plans, active and retired employees, and contributing employers. Many multiemployer plans are in an untenable situation. Further raising of contribution rates will jeopardize the ability of employers to survive and continue contributing to the plans.
    http://edworkforce.house.gov/uploade..._mcreyolds.pdf
    2631 likes this.

  2. #2
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    15,636
    Rep Power
    342

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    I agree. We have all known that reforms need to be addressed before more funds reach critical status.
    What I don't see is help from the policy makers and politicians.
    Not with high dollar corporate backers lining their pockets.
    We ( the working class ) are being assaulted from all sides in this game of financial monopoly.
    The rich, powerful and wealthy want to keep all they can and know that they have the ability to survive.
    The working people can only hope to hold on as our work and pay slowly trickles from our grasp.
    2631 likes this.

  3. #3
    Banned

    Join Date
    Jan 2011
    Local Union
    443
    Employer
    Roadway
    Location
    USA
    Posts
    5,645
    Rep Power
    0

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    McReynolds is now asking Congress to do what the courts couldn't to for her. Judy, you gotta do what you gotta do. No court or Congress is going to help bail out the teamster pensions
    http://edworkforce.house.gov/uploade..._mcreyolds.pdf
    “We believe better relative tonnage levels will not solve the problem of [ABF’s] reduced profitability. It appears that a structural change in compensation and benefits to its Teamster workforce is necessary to better align costs with volumes . . . without material progress [on compensation issues] Arkansas Best has structurally higher costs than its peers stunting potential growth.” Chris Wetherbee, Research Analyst, Citi
    “The most prevalent risks, in our opinion, to the performance of ABFS’ shares are the cyclical nature of LTL freight and legacy cost headwinds from its unionized workforce. Additional risks include the presence of well-capitalized integrated carriers (FedEx and UPS) in the LTL market and uncertainty surrounding multi-employer pension liabilities.” Todd Fowler, Vice President, KeyBanc Capital Markets
    ABF’s stock traded at $12.29 on June 15, 2012. The 52-week high as of that date was $27.44, more than double the current price. Before the 2008 financial crisis, ABF’s stock price exceeded $45 per share.

  4. #4
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,092
    Rep Power
    900

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by bean View Post
    McReynolds is now asking Congress to do what the courts couldn't to for her. Judy, you gotta do what you gotta do. No court or Congress is going to help bail out the teamster pensions
    http://edworkforce.house.gov/uploade..._mcreyolds.pdf
    Bean, I do know for a fact ABF was trying to address this problem with congress long before Judy was in charge.

    And this is something that affects YRC as well as ABF.

  5. #5
    Banned

    Join Date
    Jan 2011
    Local Union
    443
    Employer
    Roadway
    Location
    USA
    Posts
    5,645
    Rep Power
    0

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by ABFwife View Post
    Bean, I do know for a fact ABF was trying to address this problem with congress long before Judy was in charge.

    And this is something that affects YRC as well as ABF.
    The democrat Senator Robert Casey and Rep. Earl Pomeroy orphan bill that died in the Senate? You didn't think that had any better chance of passing then the EFCA did? Where is our union friendly president on these issues? Judy is asking the wrong people for help. Obama couldn't care less about troubled teamster companies or pensions. His concern is public union dues. Zollars knew who to go to.

  6. #6
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,092
    Rep Power
    900

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by bean View Post
    The democrat Senator Robert Casey and Rep. Earl Pomeroy orphan bill that died in the Senate? You didn't think that had any better chance of passing then the EFCA did? Where is our union friendly president on these issues? Judy is asking the wrong people for help. Obama couldn't care less about troubled teamster companies or pensions. His concern is public union dues. Zollars knew who to go to.
    Since your bringing Obama into this, do you actually think Romney will care about anything to do with you Teamsters?

    And Judy did testify before Congress which last I heard is majority Republican so there is only so much Obama can do.
    Last edited by ABFwife; 10-01-2012 at 07:05 PM.
    wildcat2 and fxstc07 like this.

  7. #7
    Banned

    Join Date
    Jan 2011
    Local Union
    443
    Employer
    Roadway
    Location
    USA
    Posts
    5,645
    Rep Power
    0

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by ABFwife View Post
    Since your bringing Obama into this, do you actually think Romney will care about anything to do with you Teamsters?

    And Judy did testify before Congress which last I heard is majority Republican so there is only so much Obama can do.
    Private unions are subject to market forces. Public unions were immune to market forces until they finally forced the system to collapse. Romney and Ryan will take care of that situation. You're right..no one in Washington gives a hoot about private unions. Obama is useless one way or the other

  8. #8
    Banned

    Join Date
    Jan 2011
    Local Union
    443
    Employer
    Roadway
    Location
    USA
    Posts
    5,645
    Rep Power
    0

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by fxstc07 View Post
    I agree. We have all known that reforms need to be addressed before more funds reach critical status.
    What I don't see is help from the policy makers and politicians.
    Not with high dollar corporate backers lining their pockets.
    We ( the working class ) are being assaulted from all sides in this game of financial monopoly.
    The rich, powerful and wealthy want to keep all they can and know that they have the ability to survive.
    The working people can only hope to hold on as our work and pay slowly trickles from our grasp.
    Welcome to the worst financial crash of all time. You want help? Who would help the teamsters? Washington? You can't be serious.

  9. #9
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    15,636
    Rep Power
    342

    Default Re: Testimony of Judy McReynolds Regarding Multi-Employer Pensions

    Quote Originally Posted by bean View Post
    Welcome to the worst financial crash of all time. You want help? Who would help the teamsters? Washington? You can't be serious.
    Where did you see that I said Washington, the politicians or lawmakers would help ?

    BTW, the worst financial crash of all time was the Great Depression of 1929, not now.
    The Great Depression was the longest and most severe depression in global economic history, lasting for virtually the entire period between 1929 and the outbreak of World War II.
    Read more: Top 10: Financial Crises - AskMen
    Slowly put your wine down and attempt to clear your delusional mind.
    Some rich, wealthy elitist, that was born with a silver spoon in his mouth, has no idea what the average person goes though every day to survive ... and you think that person, Romney, would help us ?
    Delusional !

 

 

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356