January 8, 2010: The International Union held a YRC members conference call yesterday to congratulate themselves and to thank members for their sacrifices to keep YRC rolling. IBT Freight Director Tyson Johnson also stated that he expects Chicago Teamsters to take a 5% pay cut by February 1.
The rumor in Chicago is that another vote is coming soon. It will be the third vote on the same concessions for Local 705 and the fourth for Local 710 members.
In response to a question, Freight Director Tyson Johnson said he expects YRC to meet its commitment to resume paying members’ pension contributions at the end of 2010. That will be about $300 per week per member, or about $500 million in 2011.
A recording of the conference call is on teamster.org
Other Freight News
Forbes: Moody’s Lifts YRC’s Rating.
Huffington Post: YRC Situation Spotlights Need for Banking Reform