A longtime Yellow truck driver lost it after being told his pension is in jeopardy.
Yellow Corp. is suspending health benefits and stopped making contributions to employees’ pensions as bankruptcy looms.
The Teamsters union said its workers will strike as early as Monday to protest the plans.
Yellow Corp. is currently struggling to restructure $1.2 billion in debts.
According to FreightWaves, Yellow Corp has 30,000 employees.
One Yellow truck driver went off at his boss after learning he may not have access to his benefits and pension as the company teeters.
“It’s the motherf*ckers up there, I worked my ass for this company. This is my money y’all are playing with. F*ck this sh*t,” the disgruntled truck driver shouted at a warehouse in Florida.
WATCH (language warning):
@doneright40 This is what happens when you tell a driver that has been working for yellow freight for over 30 years that they are no longer going to have a pension.#yellowfreight #teamstars ♬ original sound – Francky
“Pay up yellow we need our jobs to feed our family. Yellow just received over $700 million dollars, what happened to that money?” the worker said.
WATCH:
@doneright40Pay up yellow we need our jobs to feed our family. Yellow just received over $700 million dollars, what happened to that money?
I’m now retired. However, I’ve negotiated on both side of the table. Before the early ’80’s, when unions still had a bargaining chance of seeing results in their favor, I was on the union side of the table in the steel industry. However, in the late ’70’s my vocation turned to the fire service. Just as well, as things for unions changed also.
During the Carter Administration, (’76-80), the economy (almost literally) went into default, w/ major corporations, (including the Big 3 auto makers and entire machine tool industry), in dire straits. Chrysler almost went broke, were it not for asking and receiving a HUGE government loan (in ’81) to stay afloat. The first of its kind. The country was in a deep recession, and to ward off a depression it took certain measures to counteract. One was when the IRS homogenized bankruptcy laws concerning businesses going under, redefining the terms ‘assets’ and ‘debts’, and allowing them to ‘reconsolidate’ their assets and ‘liquidate’ their ‘debts’, to a point where a company could literally keep ‘assets’, (inanimate tangibles such as inventory, stock, machinery, building(s), etc.), and PERMANENTLY lay off EVERY worker, (now defined as ‘debts’), to ‘reconsolidate’. The company then changes its name, hires new employees, (at starting rates), and they’re back in business.
(NOTE: There was absolutely no obligation on the company’s part to rehire the old employees)…how convenient for the company.
This is now commonly known as when a company ‘pulls a Chapter 11 bankruptcy’. The workers lose their high-paying jobs and are forced to unemployment while seeking work, and the company has successfully killed two birds w/ one stone: They ‘broke’ the union and rid itself of all the high-waged employees. The only downside for the company is that all the new workers will have to be trained. However, damage is almost always minimal. Why? Because there are always those ‘brown-noser, favorite pets’ whom they’ll keep helping train the new recruits.
This happened consistently throughout the ’80’s and ’90’s, and in addition to ‘hostile take-overs’ of both large and small corporations. Today, the landscape has changed even further. Companies are now making everything in Mexico or Asia/China, and literally every surviving union is now nothing more than a ‘paper tiger’, roaring for its union members, giving the illusion they continue to possess the same power from decades ago. Unfortunately, today – nothing could be further from the truth. So, why/how do unions still exist? Because people still need jobs to live, and they find many of the attractive offers they get contain clauses making joining the union a ‘condition of employment’. So, if they want the job offered, they must join the union…and the monthly dues in a majority of places is now a %age of your monthly gross. Again – how convenient. So, both sides, (union and company), have played the game as needed.
What you’re witnessing now is ALL ENTERTAINMENT. Now watch the posturing on both sides as the deadline approaches. The threats, the insults, all of it. It’s all for – THE SHOW. The union will (ultimately) cave, (as they always do), and the union workers, dejected once again, will continue to work for the employer, and pay the ridiculous union dues every month.
Same old, same old…
Let the buyer beware.
Voila ~ 12 hrs ago – Late Sunday, the Yellow Trucking Co agreed to pay the 50M it owed to employees, benefits & pension plan. Amazing how they went from flat broke, to…OK we’ll remit the 50M and all of you workers will be fine. More strategies of Fraud by the Biden Administration? ~ The Govt owns 30% of the company, in exchange to secure the 700M loan it received through the CARES Act when the Democrats infected America and worldwide to steal the 2020 Election. I dug deeper and saw that at NO point in time, since Biden was installed has the “Special Investigator General Pandemic Relief/Recovery” even gone to look at their books (as was reqd on a quarterly basis when the loan was given). So Bidens’ team missed that 4x in 2021, 4 more times in 2022 and then 2 times so far in 2023. Hopefully Biden will get serious (doubtful), put down his ice cream cone, perhaps stay in Wash DC and do some work – even 5-7 days straight like most other Presidents have done and knock off these 4 day work weeks…..But I fear that every Govt Agency that Joe Biden oversees is just walking in circles because Leadership is 100% absent in this Administration. Something hinkey is going on with the Trucking Co, as it is the #3 Trucking Company in the USA; hauls Walmart, HomeDepot, UberTrucks and is the #1 trucking company used for all govt needs ~ ~ Something tells me that yet more nefarious acts are in motion or perhaps Biden doesn’t even know he has this new Govt Agency, as it was just created June 2020, by President Trump to stabilize our Economy and Joe has a strong tendency to blatantly ignore ANYTHING that has Trump associated to it. But those 700M dollars that were lent, were tax dollars ~ STRIKE AVERTED: https://www.reuters.com/business/autos-transportation/strike-trucking-firm-yellow-averted-after-deal-2023-07-23/ & A Govt Analysis of the CARES Act Money loaned and the Monitoring of those Companies…May 2023. https://www.sigpr.gov/sites/sigpr/files/2023-05/Audit_of_Weaknesses_in_Treasurys_CARES_Act_Loan_Monitoring.pdf Both of those sources provide more information on the Yellow Trucking and how Biden has dropped the ball AGAIN. First he releases the deadly virus on all of us worldwide and then stripped us of our Rights to refuse to take an Experimental toxin into our bodies, under the guise of a “vaccine” which does nothing to prevent ~
Our stick government gives billions to Ukraine while allowing cuts in Social Security for millions of Americans (up to 66% cut in earned benefits) with the so-called Windfall Elimination Provision and Governemt Pension Offset. It would only take $6.2 billion annually to correct this but our fascist Dems and RINOs say we can’t afford it. Meanwhile, they throw hundreds of billions of dollars annually at wars, the IMF, foreign aid and payments to illegal immigrants. THIS GOVERNMENT STINKS!
The communist rich Democrat corrupted unions and the communists elitists rich pigs of society that had control of your pension money owes you that money take it out of their asses their children’s asses and out of their properties destroy them get your money back and if the Democrat fraudulently elected Banana Republic communist government gets in the way destroy them corrupted fascist pigs also and get what you earned back these Democrat corrupted unions are demonic and twisted yet stupid drivers keep voting for them every year not only did I drive tractor trailer my father was a corrupted Union boss who voted for cheating stealing and manipulating communist corrupted Democrats