August 1, 2008: Little progress has been made in negotiations for a new contract covering freight Teamsters in Local 705. Members overwhelmingly passed a strike authorization vote and lent their support to the bargaining committee.
However representatives for Yellow, Roadway, Holland, and ABF are stonewalling the union. The next negotiating sessions are scheduled for August 5 and 7. Updates are posted at www.teamsterslocal705.org.
Yellow Corporation released its first quarter financials on May 10. The company shows strong improvement but is still not profitable. Yellow’s overall operating ratio of 99.3 percent is 3 percent better than a year ago, but well below other LTL carriers, including ABF and TForce.
Sysco Corp announced its quarterly financial report on May 10, with profits and revenue both up dramatically since last year. Profits for the quarter were $303.33 million, up from $88.9 million last year. Revenue rose 43% from $11.8 billion to $16.9 billion.
