I only stated what I thought might happen. - Therefore that is a fact not a rumor. - If I would to have put "I heard that..." That would be spreading a rumor.
I am fairly sure that the YRC will not close in the next month. - I feel that they will have to file if they don't get VERY DEEP CONCESSIONS from us.
If they do not get further concessions, I feel they will be here to somewhere into next summer before being shuttered.
The sad part about what MAY happen, is that they will get the concessions. With that they will go on a price war with other LTL companies. - Now, not only do we lose our benefits,but Fedx,OD,Conway and other Non union carriers will take the same away from thier employees to match YRC.
Do you know who that is going to hurt ? ABF, UPSF and other Teamster freight company. that won't be able to cut on a whim to match pricing.
If by some miracle, YRC stays open and operating in some sort of profitability; Do you think they will be able to pay contract rates in 2013 ? - Wouldn't that put that back into the same situation as now? - I truly do want to see YRC grow and become profitable again. - I would like to be recalled also. - But at what cost ??
The only way I could agree with the vote is that ALL Monies given back in wages and benefits be used to pay down debt. NO CUTBACKS IN PRICING. - YRC could be virtually debt free by 2013 if they did just that. Remember that the 10% giveback is good for almost 1 BILLION dollars by the end of the contract. That's 1/2 thier debt alone; not including any other concessions. Another 2 years of not paying into the pension.... another 1 billion saved. With thier debt being at about 2 billion; they just paid it off. Remember that is just from our concessions. PURE SAVINGS or profit how ever you want to look at it.
That likely won't happen, because YRC exec's will continue to take more and more aslong as it is there to take.
As far as waiting ..... WHY ? IBT can post it on thier website almost as fast as they can type it up and blast fax it. O just incase you didn't notice I am very pessimistic person.