New Penn | Baltimore 10, Terminal Sold

He would buy Newpenn in a heartbeat.Remember where he came from..

Yes it is where he came from, but also where he left!!! Buy a Teamster company with an underfunded pension and also looks to be going in the direction of no assets. What's left?
 
See, lucky for you I am a nice guy and would not take cheap shots at you. There is no reason for you to attack me when all I am doing is relaying accurate information.

If I was a jerk, I would make comments about the 10% pay cut you took for nothing and remind you that Pyle ( who you say is "not so great" ) is now your landlord.

But I am not like that. I just wish you the best and hope that it all works out.

And if I were a jerk I would remind you that with our 10% paycut and are raise in April we make just about the same as Pyle. Plus we are paid O/T for all hours over 40, unlike Pyle who gets paid O/T for all hours worked after 45(sicktime, vacation time or holidays dont count towards that 45). And lets not forget our all company paid health and pension, which Pyle employee's must pay for part of these benefits.
As for Pyle being our landlord, it is a well know fact that all large trucking companies lease some of there barns. Reasons for this are many and to long to explain here. Pyle is a small company and just like New Penn owned there own terminals. But now that we are part of the largest LTL in the country, the powers to be use real estate to raise capital.
But since I am not like this I will just hope that the couple hundred of Pyles employees who were fired with no chance of call back will find a job with a employer who really cares and just doesn't act like they do.
 
Actually we were told, Pule did the purchase lease back on three terminals. Baltimore, Albany and Maspeth. And apparently Estes holds the rest. Anyone know anything different?

Agreed, not good.

new penn term in albany is only a couple of years old and adp has new terminal in schodack 10 miles away.
 
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Real estate sale leaseback






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Real estate sale leaseback makes your equity work for your business.

Real estate sale leaseback financing is when a business sells its commercial property for current market value and then instantly leases it back. They sell it to gain built up equity which frees up capital which can be used to invest back into the business. There are many other benefits to this transaction as well.

The balance sheet of your business is improved greatly and you retain control of the property. Since you will be leasing the property you can defer a good portion of the tax liability. With a lease you can write off the full payment each month whereas with a regular loan only the interest payment can be written off. When you complete this transaction you are always guaranteed the full market value of your property, so you don’t risk losing any money in equity.

The other benefit is that you can get a lease for commercial property for up to 25 years, which can lower your monthly payments considerably. This gives you more operating capital each month since your monthly payments will go back down some.

Real estate sale leaseback transactions are becoming more popular because they generate capital for immediate use within your business. It unlocks the value in your real estate. With real estate you can get more capital because of how fast it grows. Some businesses do sale and leaseback transactions for equipment as well.

To find sources of capital for your business you can do a search in our free business capital search engine.
 
Yes it is where he came from, but also where he left!!! Buy a Teamster company with an underfunded pension and also looks to be going in the direction of no assets. What's left?
You don't have a clue:clap:Like I said before he would buy Newpenn in less than a heartbeat:shift:
 
You posted Pyle bought the Albany, N Y, New Penn terminal. I heard that Pyle bought the Baltimore,MD, Maspeth,N Y and Newburg, N.Y. facilities. New Penns Albany, NY yard, is actually in Troy, NY. Please post true facts, not false info.:Flame-On:

:hand: What I posted is what was told to us from our asst. t/m. I did not post it as being fact, that is why I asked in the last sentence of my post if anyone has heard anything different. It is now known that it was in-fact the Newburg terminal that was bought as a three lot. So I guess I'll stand corrected even though I was not stating facts, just assumed reliable info to share!

BTW Baltimore #10 is in Elkridge, Md. for a fact.

And, ROTATOR you should update you're profile so we know where you're coming from.:annoyed:
 
:hand: What I posted is what was told to us from our asst. t/m. I did not post it as being fact, that is why I asked in the last sentence of my post if anyone has heard anything different. It is now known that it was in-fact the Newburg terminal that was bought as a three lot. So I guess I'll stand corrected even though I was not stating facts, just assumed reliable info to share!

BTW Baltimore #10 is in Elkridge, Md. for a fact.

And, ROTATOR you should update you're profile so we know where you're coming from.:annoyed:

Troy or troyilot as we call it is only across the hudson river from albany
 
And if I were a jerk I would remind you that with our 10% paycut and are raise in April we make just about the same as Pyle. Plus we are paid O/T for all hours over 40, unlike Pyle who gets paid O/T for all hours worked after 45(sicktime, vacation time or holidays dont count towards that 45). And lets not forget our all company paid health and pension, which Pyle employee's must pay for part of these benefits.
As for Pyle being our landlord, it is a well know fact that all large trucking companies lease some of there barns. Reasons for this are many and to long to explain here. Pyle is a small company and just like New Penn owned there own terminals. But now that we are part of the largest LTL in the country, the powers to be use real estate to raise capital.
But since I am not like this I will just hope that the couple hundred of Pyles employees who were fired with no chance of call back will find a job with a employer who really cares and just doesn't act like they do.


Irish - I dont even have the heart to debate this with you. It is sad what is happening to NPME. I have A LOT of good friends there from drivers to TMs to sales guys. From Steve G to the lowest man on the list, morale is at an all time low.

I will keep all you guys in my prayers and hope that somehow NPME can pull away from this mess and survive
 
Irish - I dont even have the heart to debate this with you. It is sad what is happening to NPME. I have A LOT of good friends there from drivers to TMs to sales guys. From Steve G to the lowest man on the list, morale is at an all time low.

I will keep all you guys in my prayers and hope that somehow NPME can pull away from this mess and survive

Not looking for debate, just stating facts that you seem to overlook. As for Pyle I hope that they also pull out of the nose dive that they are in because i also have have friends there from Steve O to Bill T to drivers. It is just a shame how a company would fire a few hundred people just so they can still claim they have a NO LAYOFF CLAUSE. You expect this from a large corp. ,but not from a family run company that loves to preach how they are a big family. What a Crock.
If you would like to debate take it to the proper board because this is a New Penn Board and you are not a New Penn Employee those are the RULES and I have been told to follow them and I expect that you follow them. So VAMOS Gringo
 
Not looking for debate, just stating facts that you seem to overlook. As for Pyle I hope that they also pull out of the nose dive that they are in because i also have have friends there from Steve O to Bill T to drivers. It is just a shame how a company would fire a few hundred people just so they can still claim they have a NO LAYOFF CLAUSE. You expect this from a large corp. ,but not from a family run company that loves to preach how they are a big family. What a Crock.
If you would like to debate take it to the proper board because this is a New Penn Board and you are not a New Penn Employee those are the RULES and I have been told to follow them and I expect that you follow them. So VAMOS Gringo
Ok I give up whats wrong with post #33 :Violin:
 
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