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Yellow | YRC will soon start making dollars, says Zollars

Attta Boy, DOLLAR$, er, I mean ZOLLAR$. Tell the folks exactly what they want to hear. Hope none of them see the sinking ship that you are driving.

Instead of YRC, RYC, or even CRY, this ship has been misnamed from the beginning. It should have been called TITANIC.
 
Glad2bnGAR said:
Attta Boy, DOLLAR$, er, I mean ZOLLAR$. Tell the folks exactly what they want to hear. Hope none of them see the sinking ship that you are driving.

Instead of YRC, RYC, or even CRY, this ship has been misnamed from the beginning. It should have been called TITANIC.
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You must be a competitor.
 
pj2004 said:
YRC will soon start making dollars, says Zollars - International Freighting Weekly
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Yea, For the last 2 years he keeps on telling us and the investors how much he's gonna save from job cuts, terminal mergers, combining of the company's, 10 percent give backs,
Etc Etc ETC....... then when it comes time to ante up, it's the same thing every time.....Well the economy is still bad we haven't seen the growth we expected...... Etc Etc Etc...
He should be getting a little sick of singing the same old song... Go back and listen to all his quarterly meetings and count up just in the last 2 to 3 years how much money this A** said we were gonna save........ Look at the old forward looking statements on the press releases.... WE had over 85,000 employees right after we bought USF in 2005 since then we are down as of the last press release to 49,000 and how many of that lot are on lay-off...... I only remember hearing him say we are gonna do away with 3,750 jobs..... guess that was more lie's...... With everything he cut and he still can't show a 45 million profit in the 2nd quarter?? SAD!!
 
metalmikex said:
Yea, For the last 2 years he keeps on telling us and the investors how much he's gonna save from job cuts, terminal mergers, combining of the company's, 10 percent give backs,
Etc Etc ETC....... then when it comes time to ante up, it's the same thing every time.....Well the economy is still bad we haven't seen the growth we expected...... Etc Etc Etc...
He should be getting a little sick of singing the same old song... Go back and listen to all his quarterly meetings and count up just in the last 2 to 3 years how much money this A** said we were gonna save........ Look at the old forward looking statements on the press releases.... WE had over 85,000 employees right after we bought USF in 2005 since then we are down as of the last press release to 49,000 and how many of that lot are on lay-off...... I only remember hearing him say we are gonna do away with 3,750 jobs..... guess that was more lie's...... With everything he cut and he still can't show a 45 million profit in the 2nd quarter?? SAD!!
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All I know is we're still here. I can't argue your points. I agree it is SAD.
 
Bottom line is that you cannot keep losing money and stay in business. Casting a bright light on a 60 million dollar loss in April does not instill confidence. You need at least 5% profit to reinvest in the business. i.e. trucks, trailers, technology, meeting new emmision standards etc.
 
Hell just this article alone he said he would save the following:
Union and non-union reduction in wages would save around $325 million
The merger of its two subsidiaries, Roadway and Yellow, would save around $250m per year.
Back office costs by $70m per year.
The deferral of multiple months of union pension payments, saving approximately $40m per month. That's like 240 million for 6 months. So with these figures, He said we are gonna save 885 million........ Just outrageous almost the Billion he's asking for.....
 
To everyone at YRC: My heart truly goes out to each of you. I could be in that same boat, and kind of have been at a previous job.Each of you are American's and are great people. Keep your chins up! May God be with each of you and your families during this time.
 
The reason YRC is forced to lease vs. buy right now is that they can't tie up their capital, nor add debt, because they have maxed out on their ability to add additional debt due to previous borrowing to cover their ongoing operating losses.

In regards to operating losses, making a little money ain't gonna cut it either. Do not forget the huge hole YRC has dug for themselves on an operating basis....a billion dollars in 2008 plus an additional $257 million in first quarter 2009. And they are excited about "only" losing $60 million in April????

Breaking even doesn't go far towards filling up that hole. To survive, they need to throw off substantial profits and fill up that hole. And it better start soon.

The good news for YRC is the waiver of the earnings requirement for 2nd quarter by their lenders. That sends the message that they do not want to force them into bankruptcy now.....but all bets are off for the future.
 
Looks like I can hang it up. My Roadway days are done...sorry...YRC. Never thought I'd say this but I really miss my job.
 
truckinusa said:
I don't understand why they lease trucks anyways. It seems like they would want the depreciation on the trucks.
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the reason you lease trucks is so you can turn them in . when carolina was bought by abf carolina started leasing the first of the year that abf had bought them so when when abf took over all they had to do was turn them in. it is a quick way to CLOSE!!!!!!!!
 
As one of our salesmen here at Reddaway told me last year, "YRC is the Titanic, and we're in a row boat, hooked to them with a chain..."
 
mike9895 said:
Bottom line is that you cannot keep losing money and stay in business. Casting a bright light on a 60 million dollar loss in April does not instill confidence. You need at least 5% profit to reinvest in the business. i.e. trucks, trailers, technology, meeting new emmision standards etc.
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I do believe the point was, they were doing better with 60ish number that they originally thought at 139.
 
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