It seems we will now be the proud owners of a major trucking operation that was once 2 of the largest operations in the US that were on the brink of insolvency due to their pension plans and practices of not bidding freight rates that would sustain the operations. This I know, because we have to compete with them and are constantly having to either haul cheap to get moving or just plain let the wheels stay idle until competitive, fair marketed and rated freight is available. Rates are so bad right now thanks to these “RATE RAPERS”, and we knew it was only a matter of time before they went begging, but we didn’t think it would be our hard working dollars that would be bailing them out.
The ultimate question in my mind though is “why in the world would a transportation company need a billion dollars”?
…get this…”to keep their union pension plans afloat”!!!
This in this weekend from Land-Line magazine:
Less-than-truckload giant YRC Worldwide plans to seek a $1 billion bailout from the Troubled Asset Relief Program, or TARP.
The Wall Street Journal reported the company, based in Overland Park, KS, says it needs to shore up its pension plan, which has a $2 billion obligation over the next four years. Chief Executive Bill Zollars says YRC inherited pension obligations for many employees who never worked for the company as it is presently configured.
YRC has already negotiated a 10 percent pay cut for its union employees in exchange for partial ownership of the company.
In a recent interview with The Associated Press, Zollars said the company had other cost-cutting measures planned if necessary, including closing 20 more terminals across the country in cities where the company has more than one.
But why this transportation company?
Or maybe connections with one of the already bailed-out firms?
Unionized Yellow Transportaion and Roadway Transportaion are the biggest “thorn in the side” to hard working independent truckers. Their practices of manipulating the freight market by keeping rates too low for the little guy to be able to compete with, is the ultimate cause of their downfall. Rates to low to sustain their commitments and contracts with the unions.
Meet YRC Worldwide, Yellow-Roadway Worldwide, Inc, soon to be Government Trucking Inc.
Yep, just another Fortune 500 company and one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRCLogistics, New Penn, Holland, Reddaway and YRC Glen Moore. Building on the strength of its heritage brands, Yellow Transportation and Roadway, the enterprise provides global transportation services, transportation management solutions and logistics management. The portfolio of brands represents a comprehensive array of services for the shipment of industrial, commercial and retail goods domestically and internationally.
Now, call me ignorant, but how successful can you be if your going to the government for a $1 Billion dollar bail-out? Being around and in the trucking industry all my life, I know the only time we have gone to the bank was when we needed new equipment or when were needed a start-up loan. NEVER did we go to the bank to keep our employee obligations afloat.
After finding the previous connections, I decided to go play a game of “connect the dollars” via MUCKETY and I have to say, it was hard to decide which connections to use, the list is long, but here are the prominent ones:
The main character is Carl W. Vogt, who is not only the Chairman of the Federal Transportation Board, he is also a Director of YRC Worldwide Inc.
YRC is also in deep with House minority leader, John Boehner, (R) Ohio as well as the top Republican PAC group. YRC is also connected to none other than the DNC via Howard Dean who is also a Director of YRC and it goes on and on.
So, why will I expect YRC to get their bail-out?
Let’s just say they are coming into the “GREEN” for the “NON” global warming agenda to ruin our economy:
“The transportation providers of YRC Worldwide Inc. participate in programs and processes for protecting and preserving the environment. These strategies have the twin goals of reducing our carbon footprint while optimizing our corporate resources. Our industry-leading companies effectively and aggressively promote greenhouse gas reduction strategies, waste reduction, and conservation across their daily operations.”
There you have it folks.
It doesn’t matter your industry or occupation, the unions and the government have their greedy hands in it all to wipe out the little guys for their socialist, fascist, marxist global agenda.
We will all soon be part of “Government Worldwide Inc”.
I’ll have more on these self-insured mega trucking operations later in the week after I get through all the paperwork and phone calls to get the intial BS out of the way from another “mega mishhap” due to one of their drivers inability to handle his equipment. The 2nd in 2 years time:
This was yesterday……………………………………………………………………………………………………….This was 2 years ago
Both happened at truck stops, this weeks happened while innocently parked with plenty of room all around for another truck to maneuver, the other that happened a couple years ago was while the truck was parked at the fuel islands. In that case, the “BIG” company drivers tried to get out of it by pretending to…get this..”speak no English”. They were allowed to get back in their company truck, that had expired plates, and continue on, onto the truck scale, where the driver continued to wreak havoc doing more damage to his company rig as well as the guard posts at the scale. It took nearly 8 months to get compensated from that self-insured national corporate trucking operation. You see, they thought that they should only have to reimburse us according to their company rates, not what we actually were contracted to work for, and they also thought that they shouldn’t have had to pay for the rental truck we had to lease to deliver and finish the run.
So, my 1st action tomorrow: call Thune’s office and fill them in on this little web of deceit.
Then onto the task of prying out of the hands of another self-insured mega trucking corporation, what is due to us to fix our equipment and make sure we are compensated for the revenue we will loose while it is in the body shop.
There you go Patriots, you now have a hint of what “Government Trucking Inc” will be like. For us, it will just be another day and another dollar in their favor.
God Bless, drive safe and remember to thank a trucker should you happen along their path.
UPDATE: thought I would share our co-driver with you. She has 14 years of experience and a perfect driving record…