mysticobra
Over Here Now.
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Debt has been paid down. It's just so much debt it's hard to tell.
Yellow | Local 707
- Thread starter Treman530
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As far as you can tell the debt has not been paid down?? What the he** are you talking about? Read the SEC filings/year-end-reports and you'll see they've paid down over $300 million of their long term debt. Bitch and moan all you want but don't be ridiculous and refuse to read the financials. On the other hand continue to make up your own facts, whatever.
So , what has that Davidson guy been doing for us being on the BOD ? and what has he reported back to the union about whats going on ? and is he voting for these free stock shares for them ?
An independent director is not there to do anything for "us".
One more time...
https://teamster.org/news/2014/07/teamsters-nominate-bob-davidson-yrcw-board-directors
"It is important for all of us to remember that, under federal and state securities laws, the responsibility of the Board of Directors is exercising governance as representative of the Company’s stockholders so as to promote the success performance of the Company."
Ok so to promote the success performance of the company per Quote , So what does giving Free stock shares and bonuses to upper yellow pigs at full pay and full pension help the success performance of the company ?? When they can't hire driver's which are the back-bone & cash-cow workers of the company ?? Riddle me that ? So sorry have to disagree with you 'Retired " dudes on this subject !
paid down 300 million, took in about 5 billion in concessions!
Canadian Flyer
They Call Me CF, Eh
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Yes, and as previously stated, money has also been spent on renewing equipment. Do you think thousands of brand new trailers and hundreds of new tractors are free?
They are modernizing their computer systems to remain competitive. Do you think that's free?
Some of you have no grasp whatsoever of the cost of doing business because all you care about is how much YOU get paid. You are getting your money's worth, whether you can admit it or not.
Canadian Flyer
They Call Me CF, Eh
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Triplex isn't retired, Wong. You'd know that if you didn't have tunnel vision.
As for your question, it's been answered before. If YRC couldn't pay top rate for the people making decisions, the bank would've foreclosed on the whole company 8 years ago because there would've been NO WAY to convince the investors that it was possible to steer the Titanic away from the iceberg.
The fact that you can still complain about your lost wages can be attributed to the fact that YRC is still around to give you anything at all. They could have gone belly up like Consolidated Freightways did and complaining about the 15% wage cut and your failing pension would seem awfully trivial compared to having lost your job when nobody else was hiring.
We would have been better off 8 years ago to "FORECLOSE & SHUTTER- ER- DOWN " , because after 8 years of givebacks we are not much better off , and it's B.S. that they stay at TOP PAY for running the company in the ground !! So we will have to agree to disagree on this whole subject .
Canadian Flyer
They Call Me CF, Eh
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You'd rather have been looking for work in a dry market, that's your choice. A majority of people obviously disagree with you. And if you feel this way, why do you insist on staying? If you really feel that it's all doomed and that 15000 people should've been out of a job in 2009, why are you still working here? Because obviously you think you'd be just fine without your benefits.
Disagree all you want, you're still here when you could be somewhere else making more money.
Canadian Flyer
They Call Me CF, Eh
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The financial statements beg to differ. They wouldn't have negotiated away $300 million in the past 8 years.
Do you know where Bob Davidson spent most of his career. Roadway Express. Reaching the position of VP of Labor. He was brought in to provide insight to the lenders on operations. The Teamsters merely approved his appointment to the BOD. Based on his knowledge of both the LTL industry in general and YRCW specifically.So , what has that Davidson guy been doing for us being on the BOD ? and what has he reported back to the union about whats going on ? and is he voting for these free stock shares for them ?
Close to 1.5 BILLION in concessions and give backs. That's all they paid down....wow wee
http://investors.yrcw.com/secfiling.cfm?filingID=1014108-17-21&CIK=716006, Bobby not giving back -15% ??
Think they have you this time El.... Cayman National reports YRCW with a 6.9 billion balance....I was just down there on vacation. Even the tellers in the bank are wearing yrc hats...