Abx shareholder meeting

[fob727]

This is a guy who reputedly referred to us as "scum sucking scorpions" in the mid 90's. The fact that he doesn't "love" us is no real secret.

I had a wife that called me something similar.

What I would find disconcerning is his comment about future allocation of assets "for the customer's needs".

 

[Box-Hauler]

I was referring to when Graber spoke at the shareholder meeting. He said something along the lines of "since the pilots re-opened every article that the new negotiations could last for 1-2 more years."

Don't think the staffing levels could stand 1-2 years. With all the D13 days and guys just getting burned out on flying 1-2 years is not do-able for management.

P.S. not one person asked about the compensation packages that "the boys" gave themselves after loosing more than 60% on the stock price........

 

[Jurasicpilot]

Are they mentioning merging some of your operations with CHI or using one hand against another?

 

[bukakke]

It gets darker by the hour!

 

[b707guy]

Not surprisingly, CHI as an entity no longer seems to exist. If you go the abxholdings.com, it only lists the 5 subsidiaries as if they are all on the same level, with no mention of CHI. Unless I missed something, CHI was an unnecessary level of management under ABX Holdings.

Cappy and ATI are pretty busy with our own respective commitments, so if the "almost immediate" comment by Graber portends something dire for ABX Air, I don't see how ATI and/or Cappy could spare anything to make up let alone even fill much of a dent in the much larger operations commitments that ABX Air currently has under DHL. They said DHL has no intention of leaving the US market, so I hope there's something else afoot, something good for us all, that won't involve them trying to use an "us vs. them" tactic. So far, except for some of the ominous comments made during the conference call mentioning "other carriers" and "lower crew costs", no overt indications have come out just yet that any of us subsidiaries will be played against one another. Keeping my fingers crossed....

 

[356emain]

WILMINGTON, Ohio, May 15 /PRNewswire-USNewswire/ -- Captain CJ Johnson, chairman of the Capital Cargo unit of the Air Line Pilots Association, Int'l (ALPA), which is one of the labor groups within ABX Holdings, released the following statement after attending the ABX Holdings Annual Shareholders meeting on May 13 where management displayed no concern for the below-industry wages and work rules provided to their pilots.


"ABX Shareholders need to know and rectify the fact that ABX Holdings has disgruntled crewmembers who are not being treated with the respect the piloting profession compels. All three airlines under the ABX Holdings umbrella, ABX Air, Air Transport International (ATI) and Capital Cargo Int'l Airlines (CCIA) have long standing disputes with crewmembers over fair new collective bargaining agreements. Crewmembers simply seek benefits, schedules and pay on par with their peers at other airlines, yet management continues to stall. In attending this meeting, it was clear to us that ABX Holdings management will continue to duck, deny, and delay any meaningful dialog with its shareholders about the condition of the company's labor situation with all three airlines.


"ABX management cannot continue to enjoy the cash flow provided by the synergies of the acquisition of Cargo Holdings, Inc. while neglecting the very basic needs of its employees. The serious nature of this situation needs to be resolved before any future business plans are executed to ensure their complete success. Building a business on the backs of disgruntled, overworked, unappreciated employees is not prudent and should be alarming to all of the employee organizations, shareholders, and customers.


"The crewmembers of Capital Cargo will not allow whipsawing our groups against one another as a viable business model. Shareholders should demand that management resolve these disputes in short order."


ABX Air pilots voted down one tentative agreement and are in mediated negotiations. ATI pilots, also in mediation, voted down two tentative agreements since their 2004 amendable date. CCIA pilots are working under a contract that became amendable in 2004 with three tentative agreements voted down since then. They are currently in intense negotiations.


December 31, 2007, marked the completion of the acquisition of Cargo Holdings, Inc. (CHI) to ABX Holdings, Inc. ABX Holdings has two principal operating businesses: ABX Air, an air cargo services provider operating out of Wilmington, Ohio, and CHI. CHI's four operating subsidiaries include two separate airlines, ATI and CCIA.

 

[Jurasicpilot]

Ballsy and right on the money!

 

[DASHDRIVER]

common carrier?

Is there grounds to file a common carrier suit on the holding company? It seems from the surface that all the seperate carriers do the same thing.