Teamster News

Hoffa: What Pension Crisis? I’m Doing Great!

August 4, 2015: James Hoffa has given up on protecting Teamster pensions, but not his own millionaire retirement plan. In 2014 the IBT put $65,004 of your dues money into Hoffa’s pension.

Judge blasts Emanuel ally John Coli, Teamsters, orders $2.3 million payment

Chicago Sun-Times

A Cook County judge has handed a stinging rebuke to John Coli, a major union backer of Mayor Rahm Emanuel, ordering him and a Teamsters local that represents more than 12,000 government employees to pay more than $2.3 million to resolve a lawsuit over a broken lease for offices in Des Plaines.

UPS Agrees to Acquire Coyote for $1.8 Billion

Transport Topics

UPS Inc. announced it has agreed to buy truckload brokerage Coyote Logistics for $1.8 billion to expand its presence in the non-asset-based sector. The package carrier, which already has a small truckload brokerage as well as international brokerage and forwarding businesses, said in a statement that closing is expected within 30 days. Private equity company Warburg Pincus is selling the business that had $2.1 billion in sales last year and ranks No. 39 on the Transport Topics Logistics 50.

YRCW: Concessions and Profits

July 31, 2015: YRCW stock jumped 25% within minutes of today’s opening, following the second quarter report on YRCW’s best period in a decade. What will it mean for 20,000 Teamsters who made it possible?

UPS in Talks to Buy Coyote Logistics

The Wall Street Journal

United Parcel Service Inc. is in talks to buy Coyote Logistics LLC, a provider of transportation and shipping services, according to people familiar with the matter.

UPS Pledges to Buy 46 Million Gallons of Renewable Diesel

Transport Topics

UPS Inc. said it will buy 46 million gallons of renewable diesel over three years, 15 times greater than prior contracts, as the company seeks to further reduce carbon emissions. In its statement, the package company said the move will enable it to buy more than 12% of ground fuel from alternative sources within two years and become “one of the largest users of renewable diesel in the world”.

UPS Profits Jump to $1.3 Billion

July 28, 2015: UPS profits for the second quarter went up, even though revenue is down. The company is squeezing more profits out of every package and every worker.