Traffic World: USF Glen Moore Hires Drivers
December 9, 2008: USF Glen Moore, the truckload component of YRC Worldwide, is hiring drivers while the rest of the company makes major cutbacks and the Teamsters make concessions in order to preserve jobs in the company's less-than-truckload units. Click here to read more at Traffic World.
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...
Get TDU Hoodies and Jackets in Time for the Holidays
You can give the gift of Teamster and TDU pride this holiday season with new TDU hoodies and jackets. The zip-up hoodies feature a large TDU logo on the back and the Teamster horseheads on the front. The hoodies are $35, plus $3 for shipping. The jackets are satin-finished, with either a quilted lining, or a lighter flannel lining. They feature a large TDU logo on the back and the Teamster horseheads on the front....
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...
Video: Chicago Workers Occupy Factory
December 8, 2008: When Republic Windows and Doors announced it was closing their Chicago factory, workers decided they wouldn’t leave until they got their back pay. The company has refused to pay workers their back pay, vacation pay, and front-pay required by the WARN act for the sudden closure. Over 200 members of the United Electrical Workers union at Republic have been staging a peaceful occupation of the factory since Friday. And Chicago Teamsters are...
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.
The Hidden Pension Threat
December 4, 2008: John Moore is fighting to keep his company afloat. People no longer want to buy the gas-guzzlers sitting on his auto lot in Los Gatos, Calif., an upscale town that's home to several Silicon Valley pioneers. His sole supplier, General Motors (GM), is begging the government for aid. With sales down 35% over the past 12 months, the 59-year-old Moore, who as a teenager worked at the family-owned dealership, wonders if there...
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...
Traffic World: Zollars Says Pact Levels Field
December 4, 2008: YRC Worldwide Chairman, President and CEO William D. Zollars said the money saved by the wage concessions sought from the Teamsters union will level the playing field between his company and its nonunion competition. "This pretty much wipes out the difference between union and non-union in our industry, in terms of our cost-base," Zollars said in an interview this morning with CNBC. YRC is seeking a 10 percent wage cut from its...