Saturday, May 27, 2017

Stephanie D. Fisher Named YRC Worldwide Chief Financial Officer

 YRC Worldwide Inc. announces the appointment of Stephanie D. Fisher as Chief Financial Officer of YRCW, effective immediately.

"Stephanie has been a key contributor on nearly every aspect of our financial operations, including our successful refinancing efforts," said James Welch, YRCW CEO. "As CFO she will continue to build on her exemplary career with YRCW."

"I want to thank James and my fellow team members at YRCW for this extraordinary opportunity," said Fisher. "I am proud of what we have accomplished and excited to be a part of the company's future as a leader in the transportation industry."

About Stephanie Fisher

Before being named CFO of YRC Worldwide, Fisher served as Acting CFO and Vice President and Controller of YRCW since January 2017, and immediately before that as Vice President and Controller of YRCW since May 2012. She joined the company in 2004 and has more than 15 years of experience in accounting, financial analysis and corporate compliance. As Controller, Fisher oversaw a wide array of financial reporting functions and played a lead role in YRCW's operational forecasting, external audit processes, investor relations, compensation and benefits.

Prior to serving as Controller, Fisher served YRCW in a variety of roles of increasing importance, including serving as Director of Financial Reporting. She began her career at the accounting firm Ernst & Young in the assurance and advisory practice, where she served clients in the retail and consumer products industries.

Fisher earned a bachelor's degree in business administration and a master of accountancy degree from Kansas State University.

Sunday, May 14, 2017

Teamsters Join With XPO Workers To Call Out Company's Executive Pay Practices

XPO Logistics, Inc. board members faced a growing tide of discontent at their annual shareholder meeting today led by the company's own workers, the Teamsters and European union leaders who called out the global logistics giant for its excessive executive pay practices.

Much of the ire was directed at Bradley Jacobs, XPO's chief executive officer, who was in attendance at the meeting held at the company's headquarters here. Jacobs was on the receiving end of a recent $20 million "mega-grant," a pay giveaway that caused leading independent proxy advisor Institutional Shareholders Services (ISS) to recently issue its opposition to XPO's advisory vote on executive pay, the so-called "Say-on-Pay" vote, that was voted on today.

"It is time for XPO CEO Bradley Jacobs to explain to company workers why he is entitled to a huge payout while he cuts the health care and retirement benefits of workers who are making this company so successful," said Monica Abraham, a quality control inspector for XPO in North Haven, Conn. who spoke at the shareholder meeting. "Workers shouldn't be punished while Jacobs gets rich off our backs!"

ISS also previously recommended investors support a Teamsters-sponsored shareholder resolution calling for enhanced disclosure of XPO's human capital management performance, among other sustainability practices. Voting results on both items were not immediately made available.

Teamsters General Secretary-Treasurer Ken Hall said both proposals should be of interest to investors. "Shareholders have good reason to be concerned when it comes to excessive CEO pay and XPO's corporate practices," he said. "Its corporate practices are not in their best interests."

Meanwhile, European workers for the company said the fight against corporate greed and for fairness on the job is not only necessary for American workers. XPO is increasing engaging in anti-union worker behavior in Europe as well.

"It is ridiculous that Bradley Jacobs refuses to answer to his own employees about his company's corporate practices that imperil their livelihoods," said Sam McIntosh, a lead organizer with the International Transport Workers Federation. "European XPO workers stand in solidarity with their American compatriots because they too know the effects of the company's increasingly shady business practices."

U.S. workers have asked to meet with Jacobs on several occasions, to no avail. XPO is one of the world's largest global third-party logistics companies, providing transportation and logistical services to 63 percent of Fortune 100 companies.

Sanders, Kaptur introduce bill to restore retirement security for 10 million

Senator Bernie Sanders (I-VVermont) and Representative Marcy Kaptur (D-Ohio) introduced legislation Tuesday to protect the pensions of up to 10 million workers and retirees. The Keep Our Pension Promises Act would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multi-employer pension plans.

The bill is co-sponsored in the Senate by Senators Tammy Baldwin (D-Wis.), Sherrod Brown (D-Ohio), Claire McCaskill (D-Mo.), Al Franken (D-Minn.), Amy Klobuchar (D-Minn.), Gary Peters (D-Mich.), Debbie Stabenow (D-Mich.) and Sheldon Whitehouse (D-R.I.).

Senators Bernie Sanders and Tammy Baldwin, joined by the International Association of Machinists and Aerospace Workers, the National United Committee to Protect Pensions and the Pension Rights Center, introduce the Keep Our Pension Promises Act. The act would reverse a provision passed in 2014 that could result in deep pension cuts for millions of retirees and workers in multi-employer pension plans.

“We have got to send a very loud and clear message to the Republican leadership in Congress and the president of the United States. When a promise is made to the working people of this country with respect to their pensions and retiree health benefits, that promise cannot be broken,” Sanders said. “If Congress could bail out Wall Street and foreign banks throughout the world, we certainly can protect the pension benefits of American workers.”

“Pensions are deferred income and retirees are owed these earned benefits. My bill with Senator Sanders ensures that we do right by our people," Kaptur said. "I thank the cosponsors of the Keep Our Pension Promises Act in the House and Senate and I urge the rest of my colleagues to come to the table and support this bill. I will fight every day to defend retirees. No matter where retirees draw their retirement, whether it is a pension, a 401k or Social Security, Americans deserve financial stability and security in their older years."

In December 2014, Congress approved and the president signed a spending bill that included provisions that allow for dramatic cuts to financially troubled multi-employer pensions. Under this provision, the pension benefits of retirees could be cut by 30 percent or more. Before the law was changed, it was illegal for an employer to cut the pension benefits retirees have earned.

The new legislation establishes a legacy fund within the Pension Benefit Guaranty Corporation to ensure that multi-employer pension plans can continue to provide pension benefits to every eligible American for decades to come. This legislation is paid for by closing two tax loopholes that allow the wealthiest Americans to avoid paying their fair share of taxes.

Sanders, Baldwin and Franken announced the legislation at a news conference where they were joined by representatives of the International Association of Machinists and Aerospace Workers, the National United Committee to Protect Pensions and the Pension Rights Center.

“It’s time for Washington to respect the hard work of American workers and make sure that the promises made to them are kept,” Baldwin said. “A secure retirement is a central pillar of economic security for our working class. The Keep Our Pensions Promise Act ends a loophole and tax break for the wealthy so we can protect the retirement security families have worked for, planned for and depend on.”

Reps. Kaptur, Debbie Dingell (D-Mich.), Rick Nolan (D-Minn.), John Yarmouth (D-Ky.) and Tim Ryan (D-Ohio) held events in their districts today in support of the plan.

Monday, May 08, 2017

Teamsters: AHCA Will Hurt Working Families

Republican Plan Still Includes 40 Percent Excise Tax on High-Quality Health Care Plans

The Teamsters Union opposes the American Health Care Act (AHCA) which was passed by the House of Representatives. The legislation's wholesale changes to the current system leaves working families footing the bill for corporate tax breaks while paving a path to the elimination of even basic health care for the millions of American families that need it the most.

The AHCA attacks working families who receive high-quality health care plans from their employers through a 40 percent excise tax. This "Cadillac Tax" penalizes middle class workers who have fought long and hard for the strong health care plans they receive.

"The American Health Care Act is a flawed piece of legislation that should never be made into law," said Teamsters General President Jim Hoffa. "It not only includes this destructive Cadillac Tax that targets working families, but it also allows insurance companies to discriminate against people with pre-existing conditions and charge older Americans up to five times higher premiums than younger plan holders.


"Instead of finding new ways to enrich health care providers, Congress should be working to ensure that this country provides affordable health care coverage for every American regardless of their pre-existing conditions. The AHCA will lead to only one result - higher costs for lower quality care for fewer Americans."

Pension Rights Center Announces Day of Action on Multiemployer Plans

On May 9, 2017, retirees around the country will take part in activities aimed at drawing attention to the devastating and unprecedented pension cuts authorized by Congress in the Multiemployer Pension Reform Act of 2014.

The Day of Action will coincide with the reintroduction of the Keep Our Pension Promises Act of 2017. KOPPA would prevent retiree pensions from being cut and would also address underfunding problems in multiemployer pension plans.

More information here.............

Hoffa: New NAFTA Should Help Workers

The Trump administration and Congress are ramping up efforts to consider changes to trade and health care policy in the coming days. And for workers in Michigan and across the U.S., much is at stake. Both issues offer an opportunity for the White House and Capitol Hill to put aside partisan differences and work together to fix these serious problems.

Plans to revamp the North American Free Trade Agreement (NAFTA), for example, could hold the key to getting hundreds of thousands of people back to work in good-paying jobs. With Senate confirmation of Robert Lighthizer as the next U.S. Trade Representative imminent, as well as President Trump’s announcement that he has reached an agreement with Mexican President Nieto and Canadian Prime Minister Trudeau to begin the process of renegotiation, changes to NAFTA will be coming soon. This is a complicated deal that must be looked at carefully to ensure the right fixes are made.

To that end, “NAFTA 2.0” must address the failures of the current agreement. That means curtailing the dangerous problem of Mexican-domiciled trucks being allowed to cross the U.S. border without concern to whether they are following our laws. Changes must be made that would require foreign-based vehicles and drivers entering this country to meet our highway safety and environmental standards.

But they must not stop there. There is no reason that the federal government shouldn’t be allowed to favor American companies when it purchases goods or services it needs. President Trump recently signed an executive order expanding the reach of the “Buy American” program, and it should be up to elected officials to decide what company is best to handle its needs, not a trade pact.

Multi-national corporations, in turn, shouldn’t be able to usurp U.S. laws they don’t like by appearing before business-friendly tribunals with the power to punish taxpayers with their rulings. This investor state dispute resolution provision became a rallying cry against the now-defeated Trans-Pacific Partnership (TPP) for good reason, and there is no reason why NAFTA should contain such language either.

And currency manipulation also remains a problem that needs to be taken on. A new NAFTA must include a chapter with enforceable sanctions against the practice. The pact also needs to protect jobs and the people who do them. That means beefing up worker protections beyond what was even offered as part of the failed TPP. Exploitation cannot be part of any future trade pact.

But the concerns of U.S. workers don’t end with trade. As I mentioned last month, having quality health care is a major concern for the public. And while it previously appeared Congress was done with its efforts to repeal the Affordable Care Act, it unfortunately now seems it’s back on the table.

Nothing has changed from the Teamsters’ perspective. This is still a bad proposal that instead of fixing and reforming the flaws of ACA falls woefully short of providing good health care options to those in need. Congress also seems intent on keeping the provision that would apply a huge tax on comprehensive, low-deductible health benefits largely provided by union-sponsored plans. The current proposal is unacceptable and should be sent back for further negotiations.

Workers deserve to be treated with respect and dignity, both in trade agreements and when it comes to having quality medical care. The path to do so is clear for elected officials. It’s time for them to work together to solve these issues.

New Holland Terminal Opens for Business in Ottawa, Ontario

Holland is proud to announce that effective May 1, 2017, Holland Cross-Border service will continue its forward progress with the official opening of the Ottawa, Ontario terminal located at 205 Broome Rd., Brockville, ON.

The terminal’s 60,000 square feet of dock space with 60 dock doors and heated dock provide better coverage for key Ontario markets and strategic southern Ontario support with quicker cycle time, freight movement and management.

The terminal is conveniently located near the two major markets of Kingston and Ottawa, Ontario enabling Holland to more effectively accommodate the demand for Cross-Border service both in Ontario and the entire Holland network.

The Ontario terminal’s location is just five minutes from Hwy. 401 (the main artery between Toronto and Montreal).

“This is just one of the many advantages of shipping to and from Canada with Holland, and another example of the Holland Difference in action,” said Scott Ware, Holland President. “We work hard to understand and meet the needs of our customers who entrust us with their valuable cross-border shipments.”