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ABFS > SEC Filings for ABFS > Form 8-K on 29-Aug-2013All Recent SEC Filings

Show all filings for ARKANSAS BEST CORP /DE/ | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ARKANSAS BEST CORP /DE/


29-Aug-2013

Other Events


ITEM 8.01 - OTHER EVENTS

Arkansas Best Corporation (Nasdaq: ABFS) reports that on August 28, 2013, its ABF Freight System, Inc., ("ABF") employees represented by the International Brotherhood of Teamsters ("Teamsters") had ratified five of the seven remaining supplements to the previously approved national collective bargaining agreement for the next five years.

Terms of the ABF National Master Freight Agreement, including planned increases to health, welfare and pension benefits will not be implemented until the final supplements covering Central Region Local Cartage and Western Part V Office employees are resolved. ABF and the Teamsters will meet to address these remaining supplemental agreements in the near term.

The ABF NMFA, as the new contract is known, was approved by a majority of ABF's approximately 7,500 Teamster employees in June. The five-year agreement is an important step to return ABF to its historic profitability, while preserving the best-paying jobs and benefits in the freight industry.

Forward-Looking Statements

The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this report that are not based on historical facts are "forward-looking statements." Terms such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "plan," "predict," "prospects," "scheduled," "should," "would," and similar expressions and the negatives of such terms are intended to identify forward-looking statements. Such statements are by their nature subject to uncertainties and risk including, but not limited to, a workforce stoppage by our employees covered under our collective bargaining agreement or unfavorable terms of future collective bargaining agreements; general economic conditions and related shifts in market demand that impact the performance and needs of industries served by Arkansas Best Corporation's subsidiaries and/or limit our customers' access to adequate financial resources; relationships with employees, including unions; union and nonunion employee wages and benefits, including changes in required contributions to multiemployer pension plans; competitive initiatives, pricing pressures, the effect of volatility in fuel prices and the associated changes in fuel surcharges on securing increases in base freight rates and the inability to collect fuel surcharges; availability of fuel; default on covenants of financing arrangements and the availability and terms of future financing arrangements; availability and cost of reliable third-party services; disruptions or failures of services essential to the use of information technology platforms in our business; availability, timing, and amount of capital expenditures; future costs of operating expenses such as fuel and related taxes; self-insurance claims and insurance premium costs; governmental regulations and policies; future climate change legislation; potential impairment of goodwill and intangible assets; the cost, timing, and performance of growth initiatives; the impact of our brand and corporate reputation; the cost, integration, and performance of any future acquisitions; the costs of continuing investments in technology, a failure of our information systems, and the impact of cyber incidents; weather conditions; and other financial, operational, and legal risks and uncertainties detailed from time to time in Arkansas Best Corporation's Securities and Exchange Commission ("SEC") public filings.


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