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Holland | Mr. Rogers denies ABF rumors

abf is loseing money just like yrc . look at the money yrc paid for usf and all the first thing they did was close nonunion dugan canceled the northeast esxpainson of holland in the northeast. then closing non union bestway .can they write this much wast off ?
 
Why would ABF buy the regionals,help yrc out of there debt problem,get hurting ltls at full rate- while yrc has a 10 % cost advantage to kill them with -no way that makes sense at all.
 
Folks -

It's a pipe dream to think that anybody is even remotely interested in buying the YRC regionals. Unfortunately, there is too much capacity in the LTL game today...nobody needs to add capacity. The YRC regionals are awash in red ink and have a debt load that would choke a horse. The biggest reason why nobody would touch Holland or New Penn is their participation in the Multi Employer Pension funds, which are a mess, with Central States leading the pack in underfunding.

Presently there are less than .4 working Teamsters for each individual receiving benefits from Central States. Do the math...it just doesn't work. It is a disaster just waiting to happen.

Go to www.tdu.org and read the news on the Baltimore Fund's current funding situation. Gotta think New Penn is big in that one, not to mention the Central Pennsylvania Fund, which is just as bad shape as Central States.

Don't think for a second that ABF would even consider increasing their exposure to these severely underfunded plans.

I feel sorry for all the hard working guys who are expecting a solid pension when they retire. I just don't see it being there.
 
my 2 cents

:shift::shift:if you can all remember they told us we where not being bought by yellow they even put a posting out saying that the rumors just were rumors and thats all..then 3 weeks later they anoundes yellow bought usf...just a thought
 
now I just heard that ABF bought us for 800million! Oh I hope its true!! This is from a driver whose brother works for ABF out east....supposedly his terminal manager made the announcement!
 
kathyr said:
now I just heard that ABF bought us for 800million! Oh I hope its true!! This is from a driver whose brother works for ABF out east....supposedly his terminal manager made the announcement!
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I can't see the 800 million. YRC paid 1 billion for all of USF. I don't think that ABF would spend 800 million for just a part. According to all of the articles that have been written, they are looking to spend only in the area of 200 million for "a transportation and warehousing company". I pray they do buy us, but I can't see them spending 800 million.
 
searcher09 said:
I can't see the 800 million. YRC paid 1 billion for all of USF. I don't think that ABF would spend 800 million for just a part. According to all of the articles that have been written, they are looking to spend only in the area of 200 million for "a transportation and warehousing company". I pray they do buy us, but I can't see them spending 800 million.
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Seacher, 800 million for new penn and holland sounds about right though. There are all these rumors its new penn and holland asked our tm today about it and he said i cant say its true , but i cant say its not he said they are hearing the same things as the drivers are .Time will tell .
 
scottman920 said:
Seacher, 800 million for new penn and holland sounds about right though. There are all these rumors its new penn and holland asked our tm today about it and he said i cant say its true , but i cant say its not he said they are hearing the same things as the drivers are .Time will tell .
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They can't say even if they knew something..publically traded on stock exchange...insider trading laws prohibit either side from commenting..just have to wait & see....don't think you will have to wait much longer though
 
kathyr said:
now I just heard that ABF bought us for 800million! Oh I hope its true!! This is from a driver whose brother works for ABF out east....supposedly his terminal manager made the announcement!
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Unless it`s etched in stone,the terminal manager should be fired if it`s not true.
 
I hope you all realize that if you are bought by ABF you better hold at least 10 years seniority or you will be out of a job just like I would be. Remember there will be a dove tail with seniority.
 
fr8muver said:
I hope you all realize that if you are bought by ABF you better hold at least 10 years seniority or you will be out of a job just like I would be. Remember there will be a dove tail with seniority.
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why would anyone hope that abf buys them? has any trucking firm that abf has bought in the past still around? (Carolina freight comes to mind) if and when they buy remember it will be endtail not dovetail!!! (ask a Carolina driver if you can find one working at abf)
 
That's not how it was done to my knowledge. The Carolina and ABF seniority lists were dovetailed, I remember it well. Number one, nobody has bought or sold anyone yet. Number two, who knows what ABF or any other company would do with a company they buy until they announce their plans. Guys, let's just wait and see what happens before we start talking gloom and doom about "what if". We might be bought, sold, closed, downsized, up sized or just left as is? None of us know for sure what will happen yet and all we're doing is guessing what will happen. I'm sure in time we'll all know the answers.
 
dgfcby said:
why would anyone hope that abf buys them? has any trucking firm that abf has bought in the past still around? (Carolina freight comes to mind) if and when they buy remember it will be endtail not dovetail!!! (ask a Carolina driver if you can find one working at abf)
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it was a dovetail by the way,
I dont think abf will make the same mistake twice...
if I remember correctly, abf was almost totally destroyed after the carolina purchase ..... carolina had alot of debt that abf wasnt aware of and this purchase almost totally destroyed the company ....
ask any abf driver ..... :shift:
by the way there are or were alot of carolina drivers at abf...
 
caddy said:
it was a dovetail by the way,
I dont think abf will make the same mistake twice...
if I remember correctly, abf was almost totally destroyed after the carolina purchase ..... carolina had alot of debt that abf wasnt aware of and this purchase almost totally destroyed the company ....
ask any abf driver ..... :shift:
by the way there are or were alot of carolina drivers at abf...
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I disagree, IT WAS endtail, carolina drivers took it to court and lost!!! ask any abf driver or research it
 
dgfcby said:
I disagree, IT WAS endtail, carolina drivers took it to court and lost!!! ask any abf driver or research it
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You sir are 100% wrong. The Carolina Teamsters dovetailed into the ABF seniority lists. It was ruled a merger & not a buyout.
 
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