I’m not saying the company is in great shape but being a realist it’s hard to compete with non union labor.We don’t have to do nearly as much work as non union employees.We have thousands of rank and file that take advantage of our protections and work rules,if they choose to be consistently non productive,they can and will.We all know you couldn’t go to a non union carrier and perform like that. Most of the nons are on a 70 in 8. I talk to non union city drivers that work 65 to 67 hours Monday through Friday. We are on a 60 in 7 which is a good thing but we are so behind they offer Saturday work but we can’t work it because the union doesn’t recognize the 34 hour reset. ALL non union LTL have a 34 hour reset.
Back to the numbers,YRC operated at a 98.7 year ending with over 3 billion in revenue.
1.7% of 3 billion is 51 million they made off the freight they hauled.
Regionals operated at a 96.3 year ending with app.1.9 billion in revenue.
3.7% of 1.8 billion is 66 million they made off of the freight they hauled.
Collectively as a company that’s + 117 million.
I’m not pretending to understand the quarterly result statements,heck some of that crap I’m reading with my jaw dropped and mouth open( kinda like I’m watching jeopardy).
What I do understand is they paid 25 million towards the CDA.
They spent 103 million towards capital expenditures ( mostly equipment).
They paid 84.2 million towards debt in 2017.
We know they pay 90 million per year towards interest to our lenders.
For me,hats off to James Welch, I hope he has at least put us on life support for another 5 or 10 years.If we don’t make it..it will be because we voted ourselves out of a job IMO.
I’m hoping for a good year so there is room for some hourly increases and per mile increases in next contract.