This may have been addressed already. If so - my apologies:
Report: Trucking firm to ask for $1 billion in bailout cash - USATODAY.com
Report: Trucking firm to ask for $1 billion in bailout cash - USATODAY.com
Trucking firm to ask for $1 billion in bailout cash
- Thread starter Lawrence
- Start date
When do I get my bailout? Man, why should I bail out that trucking company when my own is hurting, mainly due to the failures and poor planning of FEMA and the CDC? All while under the control of a House and Senate both of which had Dumb-O-Crat majorities at the time. This is really starting to suck. VOTE THE SCUM OUT!!! ALL OF THEM!! EVERYTIME!! Reguadless of party. Layoutshooter
I highly suspect this is a play by union labor to have the federal govt guarantee their pensions. Labor unions are a scourge on this nation. No way a non-union trucking entity would have the temerity to pull this off. Obama owes his election to union labor. To the victor goes the spoils.
chefdennis
Veteran Expediter
I posted on this on the main form yesterday. My question is, is this the 1st U.S. owned Trucking company!?!? You know if they take money, they will also get the same kind of control the banks and auto companies are getting....I also understand the chances of them getting the money are slim , but it opens the door and thats all the socialist need to use the "crisis" and make sure they don't waste it.
Now as was said in this thread and the other, it does look like they are trying to find a way to dump the pension plans....I am kind of torn on that...on one hand people have worked for those for alot of years, but on the other they are nothing but investment programs and sometimes you lose on investments....as has been said with healthcare, pensions are not owed to you, we are each responcible for oursleves and our families..... Pensions and insurance have come full circle, when the companies 1st started offering them, they were cheap and they were used instead of wage increases...now they cost enough that they can take a company down.....
Personally, I believe the companies should return the employees investment in the pension plan and if possible a small payment on whatever return that can be split between the employees....then let each person be responcibale for themselves, and that goes for SS and the fed gov also, return the oney and let the people take care of their own money...if they mess it up, its their own problem....
Now as was said in this thread and the other, it does look like they are trying to find a way to dump the pension plans....I am kind of torn on that...on one hand people have worked for those for alot of years, but on the other they are nothing but investment programs and sometimes you lose on investments....as has been said with healthcare, pensions are not owed to you, we are each responcible for oursleves and our families..... Pensions and insurance have come full circle, when the companies 1st started offering them, they were cheap and they were used instead of wage increases...now they cost enough that they can take a company down.....
Personally, I believe the companies should return the employees investment in the pension plan and if possible a small payment on whatever return that can be split between the employees....then let each person be responcibale for themselves, and that goes for SS and the fed gov also, return the oney and let the people take care of their own money...if they mess it up, its their own problem....
It would be good if they and a couple more would go under....so much capacity so little freight...downward pressure on the rates....reduce capacity and maybe there will be an upward push in rates....
greg334
Veteran Expediter
Didn't I say that somewhere else?
At least someone else gets it.
The teamsters are involved, I understand that their pensions are handled by the teamsters not the company and even though they handle it, it may be the case where the teamsters will dump it on you and me through some union loophole.
Maybe the problem with the car companies is the fact that the country has turned their back on the UAW and the lack of sales is a protest against the whining of the UAW members?
chefdennis
Veteran Expediter
OVM wrote:
Isn't that kind of what barry is forcing chysler and gm to do?? Too many dealers, not enough profit, so close dealers....lol eliminate competition between dealers, the customer pays more, the remaining dealers make more per car......
Let the suffering Trucking companies die off, and then the freight that they are hauling will free up and become available for those that are left.....
Both works for me.........let them fail, wait, we bailed out the auto companies, they are still going BK, but only after the gov gave them billions in taxpayer money........yea fair is fair, bailout the trucking companies..........
Isn't that kind of what barry is forcing chysler and gm to do?? Too many dealers, not enough profit, so close dealers....lol eliminate competition between dealers, the customer pays more, the remaining dealers make more per car......
Let the suffering Trucking companies die off, and then the freight that they are hauling will free up and become available for those that are left.....
Both works for me.........let them fail, wait, we bailed out the auto companies, they are still going BK, but only after the gov gave them billions in taxpayer money........yea fair is fair, bailout the trucking companies..........
greg334
Veteran Expediter
But see with the dealers, there is one factor that is forgotten or not ever mentioned - the dealers don't really cost the company that much money, the bonuses that the UAW officials may get is more.
The point is that they are a franchise, they pay GM to use the name and sell the product, they pay for everything from brochures to the signs - GM pay nothing. My contention is that if GM was to remove the franchise dealer system and replace it with a Factory direct system that lowers the price of the car, then it would actually be better for the consumer in the long run. BUT they won't - they are GM.
The point is that they are a franchise, they pay GM to use the name and sell the product, they pay for everything from brochures to the signs - GM pay nothing. My contention is that if GM was to remove the franchise dealer system and replace it with a Factory direct system that lowers the price of the car, then it would actually be better for the consumer in the long run. BUT they won't - they are GM.
chefdennis
Veteran Expediter
The majpr cost of the manufacturer (Gm, chysler) on the dealer level is the "floorplan" , not all dealers are floorplanned by the manufactuer, but you cab bet those that are being closed are. It cost the manufacturer big money to hold the notes on the unsold inventory of each dealer...Now, don't think for a moment that anyone is considering the deal that the consumer gets, the dealer body and the manufactuter could care less about what the consumer pays...
By closing dealerships, they are eliminating competition and lessening the consumers ability to "shop' between deals, and the consumer will pay more....
I don't have a problem with that at all, but don't sugarcoat it to make the comsumer think this is about them... it ain't
By closing dealerships, they are eliminating competition and lessening the consumers ability to "shop' between deals, and the consumer will pay more....
I don't have a problem with that at all, but don't sugarcoat it to make the comsumer think this is about them... it ain't
betcha a lot of the closures will be the dealers within 100-75 miles of major cities....make people drive into town. There is no need for a dealer in every small town. You could use the argument that they have to service what they sell....They don't care.....once they have your money...adios!
jujubeans
OVM Project Manager
Dodgetown in Rapid is staying open. Dealer in Spearfish isn't so lucky.
I Heard Yesterday that CR England is about to go Belly Up, Anyone know anything about that?
I Heard this in a Truck Stop so it very well could be Truck Stop Trash by a Bunch of Drivers but thought I would throw it out there to see if anyone else heard the Same thing or not.
I Heard this in a Truck Stop so it very well could be Truck Stop Trash by a Bunch of Drivers but thought I would throw it out there to see if anyone else heard the Same thing or not.
I Heard Yesterday that CR England is about to go Belly Up, Anyone know anything about that?
I Heard this in a Truck Stop so it very well could be Truck Stop Trash by a Bunch of Drivers but thought I would throw it out there to see if anyone else heard the Same thing or not.
I would hazard to assume there is a few trucking companies on the brink....I do believe Gainey Transport is still under chapter 11...I see their trucks still out there....
I posted the following in a thread about the recession back in November. I still can't see how two ailing companies can merge and believe that it will make them financially healthy. When YRCW goes down I hope their demise will not be prolonged with taxpayer money.
This could leave ABF as the lone nationwide union LTL carrier. Amazing!
As for the Central States Pension Plan, they have been involved in some type of legal problem or another for ever. Maybe Central States could sell a Las Vegas casino or put out a contract on some YRCW big shots and/or their board of directors.
This could leave ABF as the lone nationwide union LTL carrier. Amazing!
As for the Central States Pension Plan, they have been involved in some type of legal problem or another for ever. Maybe Central States could sell a Las Vegas casino or put out a contract on some YRCW big shots and/or their board of directors.