The Teamsters Union and the less-than-truckload carrier ABF failed to reach an agreement by the time the most recent labor pact expired at the end of March, but they intend to keep talking, having agreed to a 3
“From what we are reading on union websites, progress is slow and big issues have yet to be discussed,” said the investment banking firm Stifel Nicloaus in a Monday research report. “But we have not yet heard of any freight diversion from customers, which is good for ABF.”
A statement on the Teamsters Union website described the talks as “slow” in their progress and “significant issues remain to be discussed.”
The next round of talks is reportedly set for the week of April 8.
ABF announced last year it would negotiate separately with the Teamsters, pulling out of the National Master Freight Agreement, leaving YRC Worldwide as the only trucking company of any significant size that is still part of the labor deal. At one time the agreement covered hundreds of trucking companies and around half a million union members.
ABF has indicated in the current round of talks it is looking to get big concessions from the Teamsters, while the union is looking to increase wages and benefits.
Meantime, ABF continues waging a separate battle. It is scheduled to go to court for a third time on April 10, challenging a series of concessions that rival YRC Worldwide and the Teamsters agreed to between 2008 and 2010 to help save the struggling carrier. ABF claims they violate the National Master Freight Agreement.
ABF has lost its two previous challenges. If it finally wins it could result in concessions between YRC and the Teamsters being invalidated, which many largely credit for saving the financially struggling operation. Ironically, ABF is reportedly looking to get from the union many of the same concessions it gave YRC.