March 15, 2012: Total compensation for ABF CEO Judy McReynolds spiked to nearly $1.35 million in 2011 according to a proxy report filed by the company in February.
That's a 35 percent raise. ABF profits are also on the rise but the company continues to seek deep concessions from Teamster employees.
The company also recently announced profits of $2.1 million for the fourth quarter. For the year, ABF's after-tax profits hit $6.8 million on revenue of $1.9 billion.
In ABF's latest 10-K report filed with the Securities and Exchange Commission, management continues to signal their goal of pulling out of Teamster pension plans. The report goes on at length on the issue, and also states that they will continue the lawsuit against YRCW and the IBT to demand concessions comparable to the YRC concessions. Independent experts do not give ABF's case much of a chance, but the real battle will come with the 2013 contract.
Interested in working with ABF Teamsters across the country to share information and to say NO to concessions in the 2013 contract? Contact TDU at 313-842-2600 or at www.tdu.org/freight.