Consolidated Freightways Files For Bankruptcy

AP via MSNBC ^ | Sept. 2,2002 | AP

[John W]

Consolidated Freightways files for bankruptcy

Venerable trucking firm sets as many as 15,500 job cuts

ASSOCIATED PRESS

VANCOUVER, Wash., Sept. 2 — Consolidated Freightways Corp., a 73-year-old trucking company, said Monday it was filing for Chapter 11 bankruptcy protection and laying off as many as 15,500 people around the country.

[College Repub]

Ouch

[chnsmok]

WOW! I got a phone call this morning from someone looking for the CEO of this company. He thought it might be my husband (the name in the story and my husband's name differs by one letter). I just laughed at the guy because I had not known about this story.

[AM2000]

bump

[Alas Babylon!]

Corn Flakes is going? Now who are the c.b. truckers gonna pick on?

[Carry_Okie]

Yeah, but we've got all kinds of room for Mexican trucks in this market.

[Sungirl]

Did anyone else see ABC news tonight stating the there will be more layoffs coming ...and that the facts show that, 'once again, (their words) the rich are getting richer and the poor poorer?' They also said that if the minimum wage went up as much as CEO's salary has for the last two years, that minumum wage would be over $21.00.
They also had a story about how employees are suing their employers (Pepboys and Walmart were mentioned) because they are forcing hourly employees to work time off the books...and not paying them. Apparently the lower the managers keep payroll....the more they are rewarded with bonusus. I just want to mention that my sister is a salaried employee and is required to work 10 hours over her 40 hours a week every week for the next 3 months. It's mandatory. 10 hours.

[kinghorse]

Ahh, the reorg dodge. Shameful piece of lawmaking. Next, watch as the helpless customers get backcharged millions in what ghoulish pension barristers coin unfair and undocumented tariff reductions.

Here's the scam. You hire CF or any freightways to carry your cargo. They quote a retail price less a huge (sometimes 60% and more) discount called a filed tariff. Except they never file the tariff. Sometime in the future the freight company files for bankruptcy and the vultures (unsually lawyers representing the employees) exploit by going after John Q. Unaware Business customer asking for the reductions returned. It can add up to millions of dollars. A typical customer might be looking at over 100K in demands that can stretch back over 7 years. And they get their money. Talk about unfair. It's obscene.

[glock rocks]

zork.

[L`enn]

Wonder if they will have to give up their luxury box at Yankees Stadium which is right next to Steinbrenners?

[farmguy]

I saw the report.

It seemed like that report and the one about the end of that feel good, training program were extremely anti-Bush.

[grania]

I just want to mention that my sister is a salaried employee and is required to work 10 hours over her 40 hours a week every week for the next 3 months. It's mandatory. 10 hours.

That's awful. And, let me guess, the boss will get to brag about increased productivity and get a bonus. It's not a good time for workers...I suspect that the fear of job losses is pretty widespread.

[steveo]

I just want to mention that my sister is a salaried employee and is required to work 10 hours over her 40 hours a week every week for the next 3 months. It's mandatory. 10 hours.

And I guess they are holding a gun to your sisters head and are preventing her from seeking employment elsewhere. That's really, really, really mean of them.

[monkeyshine]

That bites. We use CF a lot. I've got a big shipment en route from New Jersey to Los Angeles on a CF truck. I hope they don't strand it in Missouri or something.

[monkeyshine]

I just want to mention that my sister is a salaried employee and is required to work 10 hours over her 40 hours a week every week for the next 3 months. It's mandatory. 10 hours.

I know a company that is doing so poorly, they have all their sales and marketing staff spending 5 hours on the factory floor each day, and they too are working extra hours. The employees have 2 choices.

[not-alone]

make sure she keeps a detailed records of all this time

[Sungirl]

She's looking..but the job market is so great right now...they will hire her at about half of what she is making.

[norraad]

Same here, which sucks royal, cause what if you like your job(or did) & don't want to go looking{stevo}.

[SauronOfMordor]

They also had a story about how employees are suing their employers (Pepboys and Walmart were mentioned) because they are forcing hourly employees to work time off the books...and not paying them. Apparently the lower the managers keep payroll....the more they are rewarded with bonusus. I just want to mention that my sister is a salaried employee and is required to work 10 hours over her 40 hours a week every week for the next 3 months. It's mandatory. 10 hours.

In boom times, when it's hard to find good workers, companies give raises. In bad times, they give pay cuts -- only they call it "uncompensated overtime". It's easier to get a worker to go for putting in extra time, than to get him to swallow a reduction in pay

Tell your sister to get down on her knees and be thankful she has a job. A lot of good people don't, these days, and have been looking for a while.

[Sungirl]

I think that alot of the people that don't have jobs, don't because they don't like the salary offered. If they needed a job, they would take anything. Like I would have too if I got layed off.