[quote author=R-14Driver link=topic=79895.msg827496#msg827496 date=1273141914]
[quote author=Driving Fool link=topic=79895.msg827487#msg827487 date=1273127047]
Well the “Big” shots came for a visit in South Chicago today trying to sell their “Concession Deal” to the masses. One of our brothers asked Chairman of the Board and former COO Robert A Young III, “If ABF was in such dire straights why don't you consider selling some of your shares off the help out the Company?” (being that Young is largest non-institutional shareholders according to:
http://www.abfs.com/about/news/2005/p102705.asp). His response might or might not surprise you. Young said, “Because it's mine, my money not company money.” So now you know where “They” stand. It's okay to take “Your” money, the money that you have worked for and contractually earned away from you. While he and others like him who hold the purse strings will continue to rake in the bucks. Apparently Robert A. Young III did not like the idea of having money taken away from him, so why is such a shock that ABF employees feel the same way?
Check out this one too:
http://people.forbes.com/profile/robert-a-young/7310
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Maybe I'm missing something in your post but how would selling some of his stock help ABF ? Do you even no who Robert Young is ? Do you know who his father was ? Is ABF asking you to give back money that you already earned from say last year ? Are you saying that a person who has been working for ABF since 1964 should re-pay what he's earned ?
[/quote]Well lets see, if I may be so bold as to speak for abf employees, yes , most of us do know who Robert Young is, and his father too. What your missing is, Mr. Young (retired) chose to come out with the dog and pony show to try to con us into giving up every raise we've gotten on our checks in the last eight years. A move that will severely impact most of the poor teamsters and their families, that get this deal stuffed down their throats. On the other hand, Mr. Young has been compensated very well for his time at abf and if he were to sell about a million shares of his abf stock and donate it to the companies bottom line( as a sort of goodwill gesture) then not only would he lead by example but that act would impact him and his family far less than the concessions will us and ours. Nobody expected him to agree to that suggestion, it simply illustrates the fact that there is no such thing as" equal sacrifice". also, if this deal goes through he will make millions more when the stock price rises and god bless him but why should we foot the bill for it?
