-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PnC9Or6Bn0cEy6cYKE3gXi0nPH/pp9Mm1H2d5zD0/eBb7XIkGLjgNdMJPKueOdeO +tZOI9qZ+YDRyTbO3WJ4ZA== 0000950134-07-005319.txt : 20070312 0000950134-07-005319.hdr.sgml : 20070312 20070312060055 ACCESSION NUMBER: 0000950134-07-005319 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20070309 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070312 DATE AS OF CHANGE: 20070312 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GREENBRIER COMPANIES INC CENTRAL INDEX KEY: 0000923120 STANDARD INDUSTRIAL CLASSIFICATION: RAILROAD EQUIPMENT [3743] IRS NUMBER: 930816972 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13146 FILM NUMBER: 07686186 BUSINESS ADDRESS: STREET 1: ONE CENTERPOINTE DR STREET 2: STE 200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 BUSINESS PHONE: 5036847000 MAIL ADDRESS: STREET 1: ONE CENTERPOINTE DR STREET 2: STE 200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 8-K 1 v28235e8vk.htm FORM 8-K e8vk
 

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 9, 2007
 
THE GREENBRIER COMPANIES, INC.
(Exact name of registrant as specified in its charter)
Commission File No. 1-13146
     
Oregon   93-0816972
(State of Incorporation)   (I.R.S. Employer Identification No.)
     
One Centerpointe Drive, Suite 200, Lake Oswego, OR 97035
(Address of principal executive offices)   (Zip Code)
(503) 684-7000
(Registrant’s telephone number, including area code)
Former name or former address, if changed since last report: N/A
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 7.01 Regulation FD Disclosure
     On March 9, 2007, William A. Furman, President and Chief Executive Officer of The Greenbrier Companies, Inc. (the Company) responded by electronic mail to a letter from Dave Fanning, President United Steelworkers Local 1231, District 6 delivered to Mr. Furman electronically on March 9, 2007.
Item 9.01 Financial Statements and Exhibits
     (c) Exhibits:
     99.1 Letter from Dave Fanning, President United Steelworkers, Local 1231, District 6, Ontario & Atlantic Provinces
     99.2 Electronic mail message from William A. Furman, President and Chief Executive Officer of the Company

 


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
         
  THE GREENBRIER COMPANIES, INC.
 
 
Date: March 12, 2007  By:   /s/ William A. Furman    
    William A. Furman   
    President and
Chief Executive Officer 
 
 

 

EX-99.1 2 v28235exv99w1.htm EXHIBIT 99.1 exv99w1
 

Exhibit 99.1
(METALLOS LOGO)
Dave Fanning
President
  Charter Date
May 22nd 1942
I am responding to the news release put out by Greenbrier late Friday
The reputation of Trenton Works is one of high quality and efficiency and a reputation of excellent workmanship. The employee’s are and should be very proud of what they do and how far they have brought this plant over the past 12 years.
During the last set of conciliation talks the company made very clear that they had no movement on the offer that was voted on by the members so union put in the 48 hour notice witch would put them in strike position as early as Friday, March 9 2007.
Greenbrier has reported that Trenton is its least competitive facility. We all know why that is, it’s because of their ability to take the work that should be done here and move it to Mexico. The Canadian dollar climbing the way it has is hurting this plant but Greenbrier needs to take a look at what this really means to the employees here at Trenton. Our dollar going up does not benefit us it only benefits big companies that buy out side of Canada for the working people all we see is every thing around us going up with it, there is no benefit for us. It is sad to be Canadian and to have to pray for our dollar to be worthless so we can keep our jobs.
Greenbrier also reported that we will strike rather than addressing the economic problems we face. The members and the union put up no fight when the company out soured to China and India because we were told that this would make the difference between being competitive or closing This alone meant a loss of 100 jobs on this last order alone. The union and the employees were meeting with management on a regular basis to improve our competitiveness and Greenbrier should commend them for their efforts.
The Company wants to take back the health care from its employees, they want employees to lose there health care at the end of the month they are laid off in, this could mean that day, They now receive it for six months after layoff They also want them to pay as much as much $84.00 per month and higher depending on the overall usage, so there is no way of knowing how much they will pay. As to the co-pay that they speak of we now co-pay only at the drug store only so higher co-pay is not all they are after.
We are simple asking to be treated fair so we are able to look after our families. As to the work rules flexibility this means hours of work, start and finish times of shifts length of shifts that they want to be able to change at will. Also overtime, Holidays, they want new employee to be paid below existing, Cut life insurance and the list goes on.
It saddened us that we are being placed on the agenda of Aprils meeting of Greenbriers board of directors but we were told that this would happen no matter what we gave up. We can only Hope that Bill Furman reminds his board of how profitable Trenton Works was and will be again. And of the undeniable effort that has and will be put in by his employees here.
As he counts on us to do our part here we count on him to remember us and do his part there
David Fanning
Local 1231 Usw
(UNION LOGO)

EX-99.2 3 v28235exv99w2.htm EXHIBIT 99.2 exv99w2
 

Exhibit 99.2
Thank you for your e-mail and response to our press release.
Yesterday I was told that radical elements in the plant might bring on a strike as early as today. And, your notice to strike still stands for Monday. You can appreciate that as a public company, we have an obligation to disclose meaningful information. A decision to strike, coupled with Monday’s deadline, is certainly meaningful.
A strike will increase our already large operating losses at the Trenton facility, and interrupt delivery of freight cars to our only remaining customer at Trenton. These are simply facts. They speak for themselves in the present circumstances.
From the beginning, I have made it clear that the difficulties facing Trenton are very great.
Since last year the Canadian dollar has continued to strengthen against the US Dollar. You are right that there is little any of us can do about that. Trenton has made progress with global sourcing and you are correct that some progress has been made in certain areas improving efficiency. I do commend our workers for making that effort. However, the Province has refused to do anything about our excessive costs of workman’s compensation, despite efforts in the past year to obtain relief from these excessive costs. These easily run more than two times greater than any other facility, and cost millions more than at a comparable facility. We have made progress in improving safety statistics, which may serve to bring those costs down over time. However, the basic problem remains unaddressed, and perhaps cannot be addressed because of industrial history and tradition in the Province. We have not been able to do anything about geography, nor can we meaningfully reduce our transportation disadvantage for this location, which is far away from US markets and sources of materials. Finally, the forest products markets have declined markedly. These are markets which Trenton has relied upon greatly in the past.
The one significant thing that we could have addressed remains undone. Together, we have failed to reach a labor agreement for the facility that can assure its survival. Work rules and productivity, along with entitlements related to the seniority system, remain the elephants in the room. Without improvements in these, it is not possible to reach levels of productivity and efficiency to operate the facility in the present environment. This is quite simply the truth, as it was a few years ago and remains today. Your membership has made its position on these issues quite clear. We accept their decisions not with rancor, but with sadness.
This is not because of a failure of faith, nor lack of good will on either side. I know that your team has tried, and we have tried, to reach some compromise or mutually satisfactory accommodation which would solve the economic dilemma and puzzle in which we are all now entangled. This is merely about choices—choices your membership has made, and we must make, which must unfortunately come not only from our hearts but from sober assessment of economic reality.
Last quarter, we lost millions of dollars at the Trenton facility. We cannot continue to do this. You mention unfairly in your letter the placement and movement of business to Mexico. I know that you must understand, as your membership perhaps does not wish to understand, that the placement of business is not within our control as you have asserted. Just as you can do nothing about the Canadian dollar, we can do nothing to reverse the tide of the global or North American marketplace. The brutal fact is that in order to compete we have had to place more emphasis on the US and Mexico facilities, and that the business that has been placed there would lose money if it were placed in Canada under the present conditions.

 


 

I am taking the time to write this letter out of my deep personal respect for you, and for your team. I know you have tried very hard to come to a solution for the puzzle; but, so have we. We respect the choices that have been made by the Trenton workers, even though we do not agree. I ask you to respect and understand the choices we, also, must make.
Thank you again for your hard work and effort on this most difficult challenge, and for your letter. You are a good person, and I admire your courage and fortitude.
Sincerely,
Bill Furman

 

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