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Posted: 7/29/2023 2:48:46 PM EDT
[#1]
Previous job I worked with the Teamsters , use the term "work" loosely , and I had a number of drivers that I was in charge of. I still consider a few of those guys "friends" even though we sat on different sides of the table. However , the Union boss guys were complete criminal douche bags.
Freight was already dropping and a number of companies were looking at layoffs going into 4th qtr. This might save a few places , but freight in the short term will most likely go up. Consumers will take it in the ass again. I'm sure the commies will spin this as a positive for joementia. |
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Posted: 7/29/2023 2:49:39 PM EDT
[#2]
Quote HistoryQuoted: Stow the Boomer crap. You sound like a tard when you pull that out as you main talking point. Talk facts and tell me about the increases in operating and support costs and its effects on business. You first, boomer. How big is your fleet of trucks? How many drivers do you operate? What’s your CSA record? How’s your freight outlook? I’ve written why Yellow went under. And you just spouted off about random shit. I’ve written plenty on this forum about doing business and owning a business - specifically a trucking business. |
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Posted: 7/29/2023 2:50:26 PM EDT
[#3]
Quote HistoryQuoted: It was the Democrats who forced the shut down during the pandemic, not Trump. Quote HistoryQuoted: Quoted: Trump was president when all this shit started  It was the Democrats who forced the shut down during the pandemic, not Trump. 15 days to crush the economy came straight from the White House |
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Posted: 7/29/2023 2:50:50 PM EDT
[#4]
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Posted: 7/29/2023 2:52:28 PM EDT
[#5]
Quote HistoryQuoted: When I was in the Teamsters they called my home phone and were trying to tell me which Democrat candidates to vote for. So, when I told them that the voting booth was a private matter for all voters and that nobody tells me who to vote for, the guy hangs up one me. A few minutes later the union VP calls me to ask what my problem was. Nothing like strong armed union tactics in full display. This is why the DemonRats pander to them so completely. Crooks pandering to crooks. No one would ever tell me how to vote. |
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Posted: 7/29/2023 2:52:55 PM EDT
[#6]
 Attached FileHad you invested $1,000,000 in yellow at the peak in 2005, today you would have less than $3, and probably even less at the open Monday. All parties involved have some fingerprints on this train wreck |
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Posted: 7/29/2023 2:55:36 PM EDT
[#7]
Quote HistoryQuoted: The union had zero to do with this. Yellow bought up 5 profitable companies and ran them into the dirt. Sure! Sure!!! The artificially inflated-over-market wages, pensions and benefits have absolutely NOTHING to do with the failure. Surrrrrrrrrre! |
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Posted: 7/29/2023 3:01:44 PM EDT
[#8]
Quote HistoryQuoted: Yellow had a lot of bad things going for it: - Tons of fixed rate contracts that were not profitable - Loans on buy outs that were not profitable - Loans on overly expensive equipment. - Several duplication of assets they couldn't shed from acquisitions. - Strong competition from newer LTL carriers. - Weak maintenance & Safety records. - Union / teamster costs. - History of generally not giving a fuck. Freight damage expenses, equipment, not paying bills, etc. Biden, trump, anyone in office wouldn't have prevented this. Doesn't matter the economic conditions that we are, or are not in. Doesn't matter the state of the trucking industry. Doesn't matter the union negotiations. They had an absolute ton of co morbidities. Not a single thing killed them, all the things killed them. We have had stuff damaged and working through that process is a shit show. I guess I should dig out the card for that XPO sales guys that stops in every month. 
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Posted: 7/29/2023 3:05:45 PM EDT
[#9]
Quote HistoryQuoted: The IBEW pension is garbage. If you do the math it's basically a savings account. Quote HistoryQuoted: Quoted: Quoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. Yep, that is going to kill a lot of pension payments. Joementia will be along to babble out some bailout. Stupid fucks managing my 4K $ IBEW employer funded plan still send me paper statements. 20+ years worth of statements, and I’m not vested and will never see that money. They probably spent 4k just sending statements lol. The IBEW pension is garbage. If you do the math it's basically a savings account. That better than most pensions. Many are upside down. |
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Posted: 7/29/2023 3:06:29 PM EDT
[#10]
Quote HistoryQuoted: Union employees aren't really known for their subtle grasp of math and economics. That is an over generalization. As a union employee going to college part time, I took 14 math classes and 2 economic courses. A fellow employee that I worked with was a college graduate. Employees working in freight or factories do not have a choice to join or not to join a Union. They also do not always get their way in voting on contracts just like we didn't get our way in voting in our current President. The majority rules. |
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Posted: 7/29/2023 3:08:47 PM EDT
[#11]
My aunt's bf was a Union truck driver for yellow had a stroke last month about a week before retirement. Now he can't drive has no Healthcare and it looks he loses the pension he for 30 years for. He doesn't vote Democrat. He hates pedo joe.
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Posted: 7/29/2023 3:09:51 PM EDT
[#12]
Any company that calls itself “Yellow” but uses Orange as their color deserves to collapse.
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Posted: 7/29/2023 3:10:34 PM EDT
[#13]
Quote HistoryQuoted: Sure! Sure!!! The artificially inflated-over-market wages, pensions and benefits have absolutely NOTHING to do with the failure. Surrrrrrrrrre! ABF and TForce are doing okay with the union, mainly because those companies aren't horribly mismanaged like Yellow was. |
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Posted: 7/29/2023 3:16:12 PM EDT
[#14]
Quote HistoryQuoted: Management will violate contracts all day long if there isn’t a mechanism to spank their pee pee I’m always dumbstruck by the evil things that corps will do And contracts are incredibly stupid usually . As an example for many years the Yellow contract said AC not required on city trucks. So the mechanics would disable working AC just to meet the contract. Also the contract said they did not have to open the hood to check the oil so they had to build a little door and add a hinge and a latch for the union drivers who did not want to flip the hood open. At my former employer the drivers voted in the union after 3 failed votes it finally won. They got pay capped and a no ac required on the trucks as well. We used to do 100% AC. |
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Posted: 7/29/2023 3:21:08 PM EDT
[#15]
Bidenomics kills
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Posted: 7/29/2023 3:30:26 PM EDT
[#16]
Quote HistoryQuoted: CEOs are the good guys? Quote HistoryQuoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. CEOs are the good guys? Don't waste your time. People here love to be fucked by their employer and hate anyone who thinks otherwise. |
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Posted: 7/29/2023 3:37:08 PM EDT
[#17]
That’s what usually happens in rock solid economies.
* sarcasm*, It’s what very often happens in weak economies though. |
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Posted: 7/29/2023 3:38:48 PM EDT
[#18]
Quote HistoryQuoted: Union peckerhead pricks lmao at you reading comprehension disabled folks...this was managements fuck up...not the drivers. |
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Posted: 7/29/2023 3:43:20 PM EDT
[#19]
Quote HistoryQuoted: Do people really count on only their employer funded union managed pension and not save anything else? Hell, most rely Soley on social security. |
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Posted: 7/29/2023 3:44:00 PM EDT
[#20]
Quote HistoryQuoted: The union had zero to do with this. Yellow bought up 5 profitable companies and ran them into the dirt. The union has a LOT to do with it. |
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Posted: 7/29/2023 3:50:14 PM EDT
[#21]
Quote HistoryQuoted: That better than most pensions. Many are upside down. Quote HistoryQuoted: Quoted: Quoted: Quoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. Yep, that is going to kill a lot of pension payments. Joementia will be along to babble out some bailout. Stupid fucks managing my 4K $ IBEW employer funded plan still send me paper statements. 20+ years worth of statements, and I’m not vested and will never see that money. They probably spent 4k just sending statements lol. The IBEW pension is garbage. If you do the math it's basically a savings account. That better than most pensions. Many are upside down. Fair point. |
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Posted: 7/29/2023 3:50:32 PM EDT
[#22]
I do wonder what percentage of union workers vote Democrat straight ticket? The policies put into force by some of the most pro union democrats have been very bad for unions. A good example would be NAFTA. The DemonRats loved Clinton for it. Union manufacturing jobs went to Mexico because of it. But, yet, so many union members vote Democrat because they are told they are pro union. Trump was better for union members than the past six dems combined.
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Posted: 7/29/2023 3:50:38 PM EDT
[#23]
great article on the issues:
https://www.freightwaves.com/news/yellow-is-a-zombie-company-its-time-to-let-it-go While Yellow’s current executive management is highly competent, the task of turning the largest unionized LTL carrier from the die that was cast decades ago has been a nearly impossible task. Yellow has faced bankruptcy several times over the past two decades because it was saddled with too much debt and operational complexities after an acquisition binge that was instigated in the early 2000s. Bill Zollars, the CEO of Yellow from 1999 to 2011, dreamed of creating a unionized LTL super-carrier when he consolidated Yellow with Roadway and USF. These carriers were among the few trucking companies left from the pre-deregulation era, when the Teamsters were the most powerful force in the industry. During the period when trucking was regulated by the federal Interstate Commerce Commission, or ICC, unions prospered along with the trucking companies, in large part because pricing and competition were limited by the ICC. Much more at link. It's worth the read. |
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Posted: 7/29/2023 3:58:35 PM EDT
[#24]
Quote HistoryQuoted: Union superbros take notes. You can not count on that employer funded retirement. Contribute to your own plan like my rat bastard ass did. Footage shared on TikTok shows one Yellow worker angrily shouting after learning his health care benefits and pension payments had ceased. The worker, who is believed to be operating in Florida , says: 'It's the motherf******s up there, I worked my a** for this company. This is my money y'all are playing with. F*** this s*** Most employees do pay into their pensions, anywhere between 8 and 12% of gross pay. |
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Posted: 7/29/2023 4:03:03 PM EDT
[#25]
This is huge. There will be ripples.
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Posted: 7/29/2023 4:11:23 PM EDT
[#26]
I just posted a lengthy post about what it was like to work in one of their facilities, as a freight supervisor after getting a mention and a question from another member in the Trucking Forum.
It's eye opening on how this company was run. Yes, it had been a long time since I was there, but LTL for a big company hadn't changed all that much from what I still hear today. Im.sure not all are run like this, but YRC ran their facilities like this. Thread |
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Posted: 7/29/2023 4:31:32 PM EDT
[#27]
Quote HistoryQuoted: That better than most pensions. Many are upside down. Quote HistoryQuoted: Quoted: Quoted: Quoted: Oldest LTL carrier in the country. This is gonna cause some significant waves in the freight business. Yep, that is going to kill a lot of pension payments. Joementia will be along to babble out some bailout. Stupid fucks managing my 4K $ IBEW employer funded plan still send me paper statements. 20+ years worth of statements, and I’m not vested and will never see that money. They probably spent 4k just sending statements lol. The IBEW pension is garbage. If you do the math it's basically a savings account. That better than most pensions. Many are upside down. My union pension is one of the best run and well funded in the nation, I know this because its public knowledge. So many people are unaware of what is happening around them and are either lazy or too stupid to watch out for themselves. People who rely solely on a pension or the promise of social security are taking a risk that Im not willing to take, I cant worry about them at this point. I have multiple sources of income for retirement and so does the wife unit. |
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Posted: 7/29/2023 4:31:39 PM EDT
[#28]
Quote HistoryQuoted: Isn't law enforcement more than 60% unionized? Quote HistoryQuoted: Quoted: I’ll side with a CEO (or management) over a union employee every time. Isn't law enforcement more than 60% unionized? Shhhh...  Attached File |
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Posted: 7/29/2023 4:36:27 PM EDT
[#29]
Quote HistoryQuoted: That is what I don't understand. Is truck shipping really down or are we seeing made up statistics/Fauci facts? This is completely anecdotal but I commute about 45 minutes each way and she way more trucks than I did even 5 years ago. I'm sure there may some people driving trucks that are struggling but I don't think that it's because the shipping volume isn't there |
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Posted: 7/29/2023 4:36:50 PM EDT
[#30]
Quote HistoryQuoted: That is what I don't understand. Is truck shipping really down or are we seeing made up statistics/Fauci facts? Quote HistoryQuoted: Quoted: With the massive amount of shit that ships now how are they not killing it? That is what I don't understand. Is truck shipping really down or are we seeing made up statistics/Fauci facts? My dad and I own a trucking company. Been in business since the 80s. Things are bad right now. Really bad. Rates are absolute shit right due to overcapacity in the market. There can be an infinite number of product for a carrier to haul, but if they do it for losing rates then they go out of business. We are hanging on by a thread right now, praying more carriers go out of business soon so that the capacity market can reach an inflection point. |
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Posted: 7/29/2023 4:41:29 PM EDT
[#31]
Quote HistoryQuoted: My dad and I own a trucking company. Been in business since the 80s. Things are bad right now. Really bad. Rates are absolute shit right due to overcapacity in the market. There can be an infinite number of product for a carrier to haul, but if they do it for losing rates then they go out of business. We are hanging on by a thread right now, praying more carriers go out of business soon so that the capacity market can reach an inflection point. I feel for you sir. Hope things get better soon. |
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Posted: 7/29/2023 4:44:39 PM EDT
[#32]
Quote HistoryQuoted: I’ll side with a CEO (or management) over a union employee every time. Quote HistoryQuoted: Quoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. CEOs are the good guys? I’ll side with a CEO (or management) over a union employee every time. Then you will continue to wonder why our labor goes overseas. |
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Posted: 7/29/2023 4:53:01 PM EDT
[#33]
You can’t have a pre ICC company culture, business structure and legacy employee mindset and survive in a post ICC world for very long.
It is inevitable that this happened. No one side is responsible as the Company’s Management and Union could not or would not change or adapt to the post ICC market. The company was DOA but purchased profitable companies in hopes that the quality culture and business practices would carry over. This never works as the bad culture always forces the good culture to leave for greener pastures. The result is a larger version of the dead company walking with more debt. Wash, rinse, repeat and continue until the credit line runs out. Had it not been for COVID and the loan, this would have already occurred. Sadly they were doomed the day deregulation hit. They could not adapt. No different that Sears or Kmarts or countless other business that could not evolve as market places, technology and regulations changed. Sucks to be retired employee on a Yellow pension. Sucks to be a current employee looking for work. When you dance with the devil, you don’t change the devil, the devil changes you. |
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Posted: 7/29/2023 5:08:46 PM EDT
[#34]
Quote HistoryQuoted: You know as big as Yellow is, it always shocked me just how shitty their equipment is. They're a big customer for us. I get it, trucks get run hard and do lots of miles and lots of hours, but I was amazed at how out of all the big fleets we deal with, Yellow's tractors are just complete and total hell on wheels. I think the DOT exists solely for logging trucks and YRC. I can confirm, their fleet is mostly junk... |
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Posted: 7/29/2023 5:16:48 PM EDT
[#35]
Meanwhile R + L is building another bazillion dollar garage, and adding how many trucks, drivers, mechanics, IT personnel , etc.
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Posted: 7/29/2023 5:24:50 PM EDT
[#36]
Quote HistoryQuoted: I’ll side with a CEO (or management) over a union employee every time. The CEO did wonder's for Bud Light. |
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Posted: 7/29/2023 5:27:22 PM EDT
[#37]
Quote HistoryQuoted: CEOs are the good guys? Quote HistoryQuoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. CEOs are the good guys? There are no good guys. |
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Posted: 7/29/2023 5:32:23 PM EDT
[#38]
Quote HistoryQuoted: There are no good guys. This is how I see it. From someone who worked in their busiest and biggest of 411 terminals at one time. LOTS of blame to go around almost equally. |
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Posted: 7/29/2023 5:32:39 PM EDT
[#39]
Quote HistoryQuoted: Nah, went to healthcare costs and new equipment. I mean yeah, in theory it went off shore. They bought primarily International (Navistar, owned by VW), Freightliner (Daimler group) trucks and Hyundai trailers. So equipment wise, it went off shore in that way. But they got tied to government contracts. Which, I’ve dealt with a number of carriers who base the majority of their capacity and operations on government contracts. They all go under / bankrupt at some point in time. Yellow was also (in)famous for damaging freight. Which costs a ton of money. Their safety standards were laxed. Their hazmat OOS is above average. For a large company, as large as they were, to have that level of OOS, is sad at best. Don’t believe me? Public CSA score: https://ai.fmcsa.dot.gov/SMS/Carrier/71821/Overview.aspx?FirstView=True US DOT# 71821 Quote HistoryQuoted: Quoted: Quoted: Yellow truck lines? Aren't they one of the really big ones? Nah, went to healthcare costs and new equipment. I mean yeah, in theory it went off shore. They bought primarily International (Navistar, owned by VW), Freightliner (Daimler group) trucks and Hyundai trailers. So equipment wise, it went off shore in that way. But they got tied to government contracts. Which, I’ve dealt with a number of carriers who base the majority of their capacity and operations on government contracts. They all go under / bankrupt at some point in time. Yellow was also (in)famous for damaging freight. Which costs a ton of money. Their safety standards were laxed. Their hazmat OOS is above average. For a large company, as large as they were, to have that level of OOS, is sad at best. Don’t believe me? Public CSA score: https://ai.fmcsa.dot.gov/SMS/Carrier/71821/Overview.aspx?FirstView=True US DOT# 71821 According to a recent thread though, all of the wealthy liberals (and generally ALL successful business owners) made their fortunes with .gov contracts. People really believe some messed up shit! |
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Posted: 7/29/2023 5:33:33 PM EDT
[#40]
YRC/Yellow has been kept alive by the government for 25 years to service the Central States Pension Fund.
The business model was shit and should have died long ago. Guess what happened late last year? The Central State Pension Fund was gifted $36 billion by the government. https://teamster.org/2022/12/in-victory-for-teamster-retirees-central-states-pension-fund-awarded-36-billion/ With that grift locked up, there was no more need to keep YRC/Yellow around. |
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Posted: 7/29/2023 5:34:11 PM EDT
[#41]
Quote HistoryQuoted: Union superbros take notes. You can not count on that employer funded retirement. Contribute to your own plan like my rat bastard ass did. Footage shared on TikTok shows one Yellow worker angrily shouting after learning his health care benefits and pension payments had ceased. The worker, who is believed to be operating in Florida , says: 'It's the motherf******s up there, I worked my a** for this company. This is my money y'all are playing with. F*** this s***.' The Central States Pension Fund got 35 billion in federal funds that were supposed to keep them afloat until 2025 and beyond. What happened to all that money? https://teamster.org/2022/12/in-victory-for-teamster-retirees-central-states-pension-fund-awarded-36-billion/ |
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Posted: 7/29/2023 5:35:33 PM EDT
[#42]
Quote HistoryQuoted: This is completely anecdotal but I commute about 45 minutes each way and she way more trucks than I did even 5 years ago. I'm sure there may some people driving trucks that are struggling but I don't think that it's because the shipping volume isn't there Rates are absolute shit. That’s what happens when there’s more trucks than freight available. |
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Posted: 7/29/2023 5:38:22 PM EDT
[#43]
Quote HistoryQuoted: The Central States Pension Fund got 35 billion in federal funds that were supposed to keep them afloat until 2025 and beyond. What happened to all that money? https://teamster.org/2022/12/in-victory-for-teamster-retirees-central-states-pension-fund-awarded-36-billion/ Quote HistoryQuoted: Quoted: Union superbros take notes. You can not count on that employer funded retirement. Contribute to your own plan like my rat bastard ass did. Footage shared on TikTok shows one Yellow worker angrily shouting after learning his health care benefits and pension payments had ceased. The worker, who is believed to be operating in Florida , says: 'It's the motherf******s up there, I worked my a** for this company. This is my money y'all are playing with. F*** this s***.' The Central States Pension Fund got 35 billion in federal funds that were supposed to keep them afloat until 2025 and beyond. What happened to all that money? https://teamster.org/2022/12/in-victory-for-teamster-retirees-central-states-pension-fund-awarded-36-billion/ See above. They got it late last year and it funds the plan into the 2050’s. |
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Posted: 7/29/2023 5:50:22 PM EDT
[#44]
Quote HistoryQuoted: The Central States Pension Fund got 35 billion in federal funds that were supposed to keep them afloat until 2025 and beyond. What happened to all that money? https://teamster.org/2022/12/in-victory-for-teamster-retirees-central-states-pension-fund-awarded-36-billion/ Must need another 36 billion bailout. You’re welcome, superbros. |
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Posted: 7/29/2023 5:59:45 PM EDT
[#45]
Quote HistoryQuoted: Don't waste your time. People here love to be fucked by their employer and hate anyone who thinks otherwise. Quote HistoryQuoted: Quoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. CEOs are the good guys? Don't waste your time. People here love to be fucked by their employer and hate anyone who thinks otherwise. Have you managed unionized employees? |
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Posted: 7/29/2023 6:09:05 PM EDT
[#46]
Quote HistoryQuoted: This is how I see it. From someone who worked in their busiest and biggest of 411 terminals at one time. LOTS of blame to go around almost equally. I've worked as a supporting vendor for the LTL industry for close to 30 years now. My interactions have been with people on the white collar side of things but even there dealing with YRC has been frequently frustrating because there seemed to be a company wide paralysis due to pervasive CYA that made it hard to get anything done. It felt like anyone I've dealt with was always terrified of making a mistake. |
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Posted: 7/29/2023 6:12:17 PM EDT
[#47]
Quote HistoryQuoted: yeah..this was the unions fault..right? Yellow is saddled with some $1.5 billion in debt as of late March, including $729.2 million owed to the federal government for a controversial pandemic-era loan the Treasury Department extended on national security grounds in 2020 So giving the union/drivers what the wanted will get them out of debt? 
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Posted: 7/29/2023 6:18:30 PM EDT
[#48]
Quote HistoryQuoted: According to a recent thread though, all of the wealthy liberals (and generally ALL successful business owners) made their fortunes with .gov contracts. People really believe some messed up shit! Quote HistoryQuoted: Quoted: Quoted: Quoted: Yellow truck lines? Aren't they one of the really big ones? Nah, went to healthcare costs and new equipment. I mean yeah, in theory it went off shore. They bought primarily International (Navistar, owned by VW), Freightliner (Daimler group) trucks and Hyundai trailers. So equipment wise, it went off shore in that way. But they got tied to government contracts. Which, I’ve dealt with a number of carriers who base the majority of their capacity and operations on government contracts. They all go under / bankrupt at some point in time. Yellow was also (in)famous for damaging freight. Which costs a ton of money. Their safety standards were laxed. Their hazmat OOS is above average. For a large company, as large as they were, to have that level of OOS, is sad at best. Don’t believe me? Public CSA score: https://ai.fmcsa.dot.gov/SMS/Carrier/71821/Overview.aspx?FirstView=True US DOT# 71821 According to a recent thread though, all of the wealthy liberals (and generally ALL successful business owners) made their fortunes with .gov contracts. People really believe some messed up shit! Mail contracts are typically terrible. |
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Posted: 7/29/2023 6:22:43 PM EDT
[#49]
Quote HistoryQuoted: I’ll side with a CEO (or management) over a union employee every time. Quote HistoryQuoted: Quoted: Quoted: Unions, fucking their workers and enriching the kingpins since their inception. CEOs are the good guys? I’ll side with a CEO (or management) over a union employee every time. NOVA? They can both be (and usually are) wrong. |
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Posted: 7/29/2023 6:26:13 PM EDT
[#50]
Quote HistoryQuoted: Isn't law enforcement more than 60% unionized? Quote HistoryQuoted: Quoted: I’ll side with a CEO (or management) over a union employee every time. Isn't law enforcement more than 60% unionized? Not even. |
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