Freight


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FAQ on Stock Warrants

December 8, 2008: The proposed concession agreement with YRC contains a provision to set up a trust with stock warrants equal to 15% of YRCW’s outstanding stock. What does this mean for Teamsters? Freight FAQ: Click on the image to download a leaflet answering Frequently Asked Questions on stock warrants.Here are some answers to frequently-asked questions about this part of the Yellow Roadway concessions deal. What is a stock warrant? It is an option to...

What Freight Teamsters Are Saying

December 8, 2008: Freight Teamsters are making their voices heard about the tentative deal for concessions with YRC. Read what they’re saying—and make your voice heard, too. I hope everyone realizes what a sales pitch the stock warrants are. Our ballots get counted on Dec. 30. If it passes, then the stock price will be driven up and our price for the stock trust will be higher because the price will be set by the...

Willamette Week: A Day in the Oak Harbor Strike

December 5, 2008: Now in their 73rd day of striking, workers and retirees of Oak Harbor Freight Lines rallied today to protest what they call the "unfair labor practices" of their Auburn, Wash.-based employer. Click here to read more at Willamette Week.

Video: Difference with Nonunion ‘Wiped Out’

December 4, 2008: YRC Worldwide CEO Bill Zollars says the proposed concessions will “wipe out the difference between union and nonunion” in the freight industry. Zollars confirmed TDU’s report that cutting Teamster wages would save the company $1 billion over the next four years. “This pretty much wipes out the difference between union and non-union in our industry, in terms of our cost-base,” Zollars told CNBC in an interview this morning. That’s Corporate America’s goal:...

Bloomberg: YRC to Look for More Ways to Cut Costs

December 4, 2008: YRC Worldwide Inc., the largest U.S. trucker, will seek out more cost reductions after reaching a tentative agreement with the Teamsters union for a 10 percent wage cut, Chief Executive Officer Bill Zollars said. YRC under President-elect Barack Obama’s administration will push to let the multiemployer pension plan it participates in stop supporting retirees from companies that have gone out of business, Zollars said in an interview today. The company also will...
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