Arkansas Best Corporation (ABFS)

[driller4oil]

And exactly what did you know that I didn't? Apparently I know a lot more about this company than anyone on this board.
So waste you're time. It seems to be the only thing you have besides being an ABF employeeeeeee.
I've made a ton of money on you're company thus far and going to make a lot more. I'm sure I've made a lot more than what you're wages will be for the next 5 years.
One more thing. I didn't have to give up 7% to do it.

[driller4oil]

Please don't be jealous. I predicted it would be a very close vote and it was just as I said. Thank you're lucky stars it went you're way because it was a VERY THIN MARGIN. Of course you can gloat now.....after the fact.

P. S. I don't care what you cut and paste. What I said about this contract was nothing but the truth. I will take the credit.

[robblob]

Why? A no vote would have ended in a lot of lost jobs and business for ABF. You understand that is bad for the company, right? And if you're following this board as an investor, that's not very smart.

[Newhampsha]

I was hoping it would not pass.

NH

[robblob]

I agree, but I wasn't going to waste the time to call the guy out.

[BuckeyeMike]

Give me a break. You give yourself too much credit and anyone who has read your posts on this board will agree. You were partially right at best but you predicted the vote would not pass. I'm not going to waste my time going back to find your posts and copy and paste them but there are there for anyone who wants to read the board. Good luck on all your future predictions and investments.

[driller4oil]

I was right. I have to take credit where credit is due. I said in a previous post that the vote was divided.
Out of 7500 employees 6100 cast ballots. 1400 employees did not vote. This vote was won by 244 votes. Long holders....count you're lucky stars.
I too have a long position and had a hair trigger on this stock. Between a long position and options I have an investment of zero and am holding a substantial amount of shares.
Looking for 37-42 dollars per share. 6-18 months.

[driller4oil]

Everyone can celebrate. The contract passed.
More money to be played.

[BuckeyeMike]

Looking at the $20+ Share price, I'd say Wall$treet is betting the contract gets passed.

[driller4oil]

If you're invested, you better hope so. If it goes the wrong way this stock will be under 5.00 per share in one trading session.
UPS contract was a no vote and no concessions were involved.

[robblob]

.....til the contract is approved.

[driller4oil]

Two more days.

[driller4oil]

The exact same 15% wage reduction was presented to all ABF employees after YRC was approved. The vote was NO.
I've been following ABF not just a few months but for about 3 years. I know this company and the employees and have a good idea of what is going to happen in the future.
ABF is now a holding company. It is not the "good old boy" trucking company it once was.
Holding companies have 2 objectives. First and foremost is to put money in the executive boards pocket. Secondly, is to raise the stock price if it is a publicly traded company. Everything else is expendable.
What I've learned over many years is this. Transportation companies (especially trucking companies) are all corrupt. I could write a book on this.
I never buy and hold trucking companies. I trade them only when they are vulnerable. Shorts, Puts, Calls, and the stock. When the run is over, I sell all. I've never lost yet. This is the reason I'm here. I take no prisoners where the stock market is concerned.
It's no skin off me regardless of which way this contract goes but I will play this to the bitter end.

[BuckeyeMike]

The Teamsters at YRC who voted for the 15% wage reduction or the Teamsters at ABF who will vote for a 7% wage reduction minus one weeks vacation?

[Newhampsha]

As I said, I hope they strike, I love it when unions get it stuffed right up their caboose. Strikers never win. Been on both sides of strikes in the 60s and 70s, much better to be on the company side. I was out 5 1/2 months once, we never never made up what we lost. Lose 50% of the business, big deal, they will sell. Lay offs and terminal closures are definitely not good for the union members. Who can last longer, a company or a union member losing $1200-1500 per week. DUMBASSES!!!!!! Good luck, I hope the fools strike.

NH

[driller4oil]

Apparently you don't know the Teamsters very well.

[BuckeyeMike]

And how many will lose their jobs if they lose 50% of the business? You call that having the upper hand? And if YRC can't merge or buy ABF why did the two CEO's meet recently and why did ABF announce that they rejected the offer?

Everyone will lose if they vote down the contract. Less competition because there may likely be one less company. Less competition and the customer loses. No company and union and non union workers all suffer lose. Pass the contract and swallow hard. May not taste good but it's better than the alternative.

[driller4oil]

Seems you really don't know what you're talking about. This would be the perfect time to take a solid stance.
For one example.
One day of a shut down and this company loses at least 50% of their business.
Who has the upper hand?

This is only one example.

[Newhampsha]

If you really think they have upper hand, you are foolish. IMO This economy is not good. Bad time to strike.

NH

[driller4oil]

The bottom line is this. This is the first time in 30 years the Teamsters have the upper hand. Don't blow it!

[driller4oil]

This means nothing without a vote. My sources say a "NO" vote.

[driller4oil]

Correction......YRC didn't keep their pension. Let's get it together!

[driller4oil]

One more time.....YRCW can't acquire or buy anything. It's in the contract with HOFFA

[Newhampsha]

I agree 100% without politics. But the whole damn world runs around politics today. It is a shame, but IMO, very true.

I did not say a better job, I said a job starting at the bottom.

I really hope they strike, it will drive YRCW stock up more. It is climbing well now.

NH

[BuckeyeMike]

I don't want to get too far off topic and political here but I agree. I have a great deal of disdain towards the teachers Union and our educational system. Our children rank poorly in math and science yet the teachers are highly paid and highly compensated and have to pay very little towards their healthcare and pension. They have Tenure and 3 months off and many of them have pretty small class rooms. The Union and the system breeds mediocrity. Unions over reached and that's why their in decline and losing clout and membership.

Back on topic. I certainly empathize with the drivers having to take a 7% pay cut and lose a week of vacation. The current contract is not sustainable for the company and WallStreet knows it. The majority of the Union Members knows what happened at YRC and this contract is not nearly as drastic as YRC's was. They also know they can always go find a better job if one exists.

[Newhampsha]

Only a DAMN FOOL would vote it down in today's economy, although I hope they do. I have no use for unions or their rules, or their pensions that cause everything else in the country to go up. Our country cannot afford these pensions, etc. Look at Detroit. The more unions they bust, the better I feel. These damn union fools elected the dems, now they are not happy about the Obamacare, too damn bad. It is funny.

There is no problem getting a driver job if you want to start at the bottom again. With the new time rules, they will need 100,000 new drivers, and most will be NON-UNION.

NH

[BuckeyeMike]

June 3rd, 2013 Press Release

S&P REITERATES BUY RECOMMENDATION ON SHARES OF ARKANSAS BEST
(S&P Capital IQ)
Taking into consideration the proposed labor contract, as well as ABFS's likely alternate courses of action (significant network restructuring or revisiting an unsolicited acquisition proposal), we are raising our P/E-based target price by $4 to $22. The consensus EPS estimate for '13 is $0.04, down from our last published $0.43 estimate, and '14's is $0.88, off a penny, according to Capital IQ. However, we think contract ratification would add $0.21 on average to quarterly EPS, before even taking work rule changes and efficiency gains into account. Votes are due by late June.

[BuckeyeMike]

A no vote is a vote to put your Union Brother out of a job. YRC took much bigger concessions. Are you saying they have to work 16 more years? I highly doubt it. Maybe if you're a brand new driver.

Reading the Union member message board you see a few upset hot heads spouting off, but when a man has a family, and he knows that a no vote will likely mean many job losses and quite possibly his own, he swallows hard and votes yes and keeps his job, healthcare, and pension. Just like YRC did.

[Newhampsha]

They will make a very large footprint together.
Nh

[Newhampsha]

I agree with that, the stock will drop.
Nh

[BuckeyeMike]

If the vote is no, and I think the "yea's" will have it, It think a deal between YRC and ABF gets done quickly. We already know the two CEO's met recently and YRC made an offer. If I'm the CEO of ABF and the vote is no, the first call I make is to YRC CEO Welch to accept his very generous offer.

[Newhampsha]

Do you remember a while ago that everyone had yellow failing? Did not happen, I predicted they would make it. If ABS goes on strike, they are f'ng stupid. They will be in dire straights. There are plenty of driver jobs everywhere. No one can get enough drivers, at least qualified ones. Save this message.

Drivers are a very good paying job. It is tough to go without vacations, but what do you think of the good folks not working?

Nh

[driller4oil]

Do what you want. I'm banking on this contract not passing. When this news breaks this stock price will drop like a wet rag.

[driller4oil]

One more time.......YRC can't buy anyone.

[driller4oil]

I'm sorry but I disagree. I don't think it will pass.
Many know this....for the past 30 years this is the first time the Teamsters have the upper hand. Point #2. If this company has a shutdown, I'm certain they will lose at least 50% of their business in one day.
From what I see, there is no reason to vote "yes". Great jobs or not. Would you be willing to look at you're new co worker and say...I'm the reason you have to work 8 years before you get 2 weeks vacation to spend time with you're family?

[Newhampsha]

I shud pass. If they strike, maybe yrcw will buy them.
Nh

[BuckeyeMike]

I've been reading the Union message boards and have seen some of the comments of the teamsters. No one blames them for being upset. I've also seen members posting why they will vote yes for the contract and I think at the end of the day it's the best deal the Union could negotiate and they get to keep their jobs and pensions. If they vote it down, everyone knows they will lose a huge amount of business and MANY will lose their jobs. Of course they can always go work for a non union trucking company and start at the bottom again. But, it's not like there are tons of great jobs out there and we don't manufacture much anymore so good jobs are not plentiful. I think the contract passes.

[driller4oil]

From what I understand the union workers are saying (and I quote) the 7% wage reduction is bad enough but it is an insult to take away a week of vacation. According to the new contract it takes 8 years to get a 2 week vacation which is repulsive. (End of quote)
These are not my words they are the words of the workers. It seems the take away of the vacation time is going to kill this agreement.
On a personal note.....I don't blame them.

[robblob]

And why do you say that? Sources?

[driller4oil]

I don't think this contract is going to be approved.

[driller4oil]

Yellow can't buy anything until wages and benefits a restored. They are a long way from this. My understanding is YRCW still to this day has a very good chance of failing. If it wasn't for Hoffa YRCW would be history right now.

[Newhampsha]

I would not bet against it. No idea why now, but........

[pacman042]

Voice txt

[pacman042]

Cant text much, I'm driving down the road. In n ABF truck. And I haven't seen a yellow all day. Not going to happen

[Newhampsha]

How soon before yellow buys you?

[pacman042]

They r going to mail new ballots

[pacman042]

I did receive my ballot yesterday. I did not read it, I was going to work. There is a problem with the ballots instructions? I think your date when the turn them in sounds about right. Not sure if we have to wait for New Ballots or not. I just woke up, so I'll comment later

[driller4oil]

Hmmmmmm. From my source the "ballots" have been delivered. And by the way, My source also tells me these "BALLOTS" must be received by June 27th in order to be counted. True?

[pacman042]

I work for a ABF, and there is no survey. And the balots for the contract aren't even out yet

[BuckeyeMike]

usually when survey's are done, there is someone who conducts the survey and they disclose how many were surveyed. Another words, how credible is the survey?