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Yellow | Why is filing for bankruptcy a bad thing?

keepingon said:
Delta is listed as a transport but it hauls people not freight, I beleive they also received help from the feds to come thru their bankruptcy.
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Shows ya how smart Wall Street is...:biglaugh:

Hey it just dawned on me how Zollars might pull this off.
 
Hmmmm....maybe because you couldn't make payroll....pay for fuel...cover rent payments...pay liability insurance payments...hmm...buy spare parts for aging fleet.....buy tires...brake linings...Just a few things that come to mind..
 
A Big Load....

R-14Driver said:
Because my friend the Company knows when things get better there is no group working in the trucking industry better than the teamsters . Look at your non-union companies turn over rate compared to union companies. You have a trained person who will be with your company for the long run .
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Of horse manure...I want some of what it is that you are smoking my friend...PRIMO!!!
 
Guys and gals, I hate to be the "buzz kill" in the bunch, but YRC's days are numbered...I say that having spent 13 years as a manager with Yellow, working with Teamsters..I have nothing against Teamsters other than the fact that the work rules associated with the brotherhood is much to constrictive to allow a company to compete in today's marketplace. Back in the days of regulation, service sucked, everyone's price was the same, and all of the poorly run companies had no trouble surviving..Most of you will disagree with me, but when you are running a company, you cannot have the tail wagging the dog...and all of these concessions are too little...and way too late..I have a soft spot in my heart for truck drivers...I respect them for what they do...even Teamsters..Unfortunately, the market will no longer support you. If you are a driver for YRC, your best best is to go ahead and try to find yourself a job with a non-union company..Most of you Teamsters do not necessarily adhere to the "socialist" agenda espoused by your leadership. Most Teamsters I know are just hard working guys who just happen to be Teamsters. I do work for a non-union ltl company, and any benefit we will receive from the demise of YRC will be short-lived....Someone will step up and take their place..just like when CF went out..Just like when American morphed themselves into Fed Ex..Freight is falling off of your trucks faster than you can imagine...and I honestly do hate that for you guys...because families will suffer..But, hang in there, find yourself another solid company to work for, and life will go on..
 
How about you go back to the Estes forum and impress them with your great knowledge !!! :loser:
Winger said:
All I know is that we (Estes) are probably one of two companies that could remain profitable in the 4th quarter(without invoking some sort of vacation scam plan). EVERYONE out there is projecting very dismal revenue numbers for the fourth quarter..I think that it would have been very easy for Mr Estes to just institute a pay cut, but he didn't..I'm thankful for that. It's just tough times..
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Winger said:
Of horse manure...I want some of what it is that you are smoking my friend...PRIMO!!!
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Winger said:
Guys and gals, I hate to be the "buzz kill" in the bunch, but YRC's days are numbered...I say that having spent 13 years as a manager with Yellow, working with Teamsters..I have nothing against Teamsters other than the fact that the work rules associated with the brotherhood is much to constrictive to allow a company to compete in today's marketplace. Back in the days of regulation, service sucked, everyone's price was the same, and all of the poorly run companies had no trouble surviving..Most of you will disagree with me, but when you are running a company, you cannot have the tail wagging the dog...and all of these concessions are too little...and way too late..I have a soft spot in my heart for truck drivers...I respect them for what they do...even Teamsters..Unfortunately, the market will no longer support you. If you are a driver for YRC, your best best is to go ahead and try to find yourself a job with a non-union company..Most of you Teamsters do not necessarily adhere to the "socialist" agenda espoused by your leadership. Most Teamsters I know are just hard working guys who just happen to be Teamsters. I do work for a non-union ltl company, and any benefit we will receive from the demise of YRC will be short-lived....Someone will step up and take their place..just like when CF went out..Just like when American morphed themselves into Fed Ex..Freight is falling off of your trucks faster than you can imagine...and I honestly do hate that for you guys...because families will suffer..But, hang in there, find yourself another solid company to work for, and life will go on..
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Oh Mr or Ms R-14...

R-14Driver said:
How about you go back to the Estes forum and impress them with your great knowledge !!! :loser:
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Certainly not trying to impress anyone with my knowledge..If I had any, I wouldn't be here posting...Keep smoking the spliff my friend..I'm not trying to dissuade anyone, just stating my opinion...You believe what you want to believe..that is your right..honestly..
 
Okay...

R-14Driver said:
How about you go back to the Estes forum and impress them with your great knowledge !!! :loser:
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Okay Mr or Ms R-14, let's meet back here in 6 months and have this same discussion..and yes, I work for Estes....and very happy to be here.. MERRY Christmas my brother!
 
I know some of you are chomping at the bit thinking the concessions will be reversed if there is a bankruptcy. It aint gonna happen, this outfit is dead in the water. Blood from a stone.
 
R-14Driver said:
Because my friend the Company knows when things get better there is no group working in the trucking industry better than the teamsters . Look at your non-union companies turn over rate compared to union companies. You have a trained person who will be with your company for the long run .
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Winger said:
Of horse manure...I want some of what it is that you are smoking my friend...PRIMO!!!
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Winger why is that horse manure? Tell the truth before this recession hit how many Teamsters do you think quit their jobs at Yellow, Roadway, Holland, New Penn, UPSF, or ABF and went to work for a non union company like you work for? A company that has so little respect for it's hard working hourly employees that it doesn't even pay them overtime.

Under normal conditions a Teamster don't usually quit his job & go over to a non union company. Go ahead and try to compare the turnover rates of union & non union companies. Unlike your company the Teamster companies didn't have to settle for some drivers who couldn't even get the hazmat endorsement on their CDLs. I wonder why your company did?

R-14Driver didn't post horse manure. Teamster companies have very few people quit, we usually retire.
 
Old School Guy said:
To avoid bk fire all Roadway managers the only thing they do is write warning letters and fire guys for the dumist bull sh--t . They don't worry about the freight with their out dated computer system . They have no system can't find the freight or what trailer its on I was told by more than one source Chicago Heights has 3000 bills they can't find and rather than find and deliver they lay off , It's no wonder they are sinking with those loosers in charge . Get rid of them and bring back the Yellow freight guys before it's too late .
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I get so tired of this viewpoint. I believe Dollar Bill is a Yellow man and the only reason we are in this mess is because of his leadership and insight.:TR10driving03:
I firmly believe that if Rdwy was left alone we would be just like ABF but in better shape.
 
tikitatt12 said:
I'm truly curious as to what the ramifications are that would make it something they would want to completely avoid. Mostly I wondered this after seeing Delta take the place of YRC on the transport index and seeing that they had gone through bankruptcyand come out on the other side.
I'm pretty clueless on the process, but doesn't it help to get debt off the books? If it means coming out stronger (or at least more stable) why is it this horrible option?
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If they do file Chapter 11 there are things that most may not like and we as teamsters will ultimately get the shaft. I could care less about snapback provisions and stock options. Even if in agreement with with the union or this so called negotiated protection really doesn't mean anything. You can review the process on the SEC site and inform yourself what will happen if YRC files.

Corporate Bankruptcy

One may point out that current actions by YRC may be already in the works.
 
Old School Guy said:
To avoid bk fire all Roadway managers the only thing they do is write warning letters and fire guys for the dumist bull sh--t . They don't worry about the freight with their out dated computer system . They have no system can't find the freight or what trailer its on I was told by more than one source Chicago Heights has 3000 bills they can't find and rather than find and deliver they lay off , It's no wonder they are sinking with those loosers in charge . Get rid of them and bring back the Yellow freight guys before it's too late .
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sarge said:
I get so tired of this viewpoint. I believe Dollar Bill is a Yellow man and the only reason we are in this mess is because of his leadership and insight.:TR10driving03:
I firmly believe that if Rdwy was left alone we would be just like ABF but in better shape.
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I'd have to say I agree with spaghettijg (with whom I seem to normally disagree with, so figure that!), and Old School Guy when they say old BigR guys won't understand. I was laid off by Yellow-- called back by Roadway. I resigned rather than report..........

None of us know what was behind the merger. None of us really know what shape Big R or Yellow was in; not a single one of us can predict if Roadway would've even still been here accurately; let alone be in as good a shape as ABF. Unless you're a fortune teller or prophet, I doubt you can either.....
 
The TRUTH is only known by ME !!If you want the TRUTH please deposit one quarter !​
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R-14Driver said:
The TRUTH is only known by ME !!If you want the TRUTH please deposit one quarter !​
4176564607_479e309413.jpg
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You're not a bad looking woman(not as good look-in as Truck Stop Tammy though), for some reason I always thought you were a guy. How many PSI can you take?:biglaugh: PS: I think you couldn't come close to taking 1/4 from me!!:biglaugh::biglaugh:
 
TurboJ said:
You're not a bad looking woman(not as good look-in as Truck Stop Tammy though), for some reason I always thought you were a guy. How many PSI can you take?:biglaugh: PS: I think you couldn't come close to taking 1/4 from me!!:biglaugh::biglaugh:
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Turbo I've said it before and I will say it again " YOUR JUST NOT RIGHT":biglaugh: And no one even had to put in a quarter to figure that out :smilie_132:!

R-14Driver said:
The TRUTH is only known by ME !!If you want the TRUTH please deposit one quarter !​
4176564607_479e309413.jpg
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R-14Driver said:
Turbo I've said it before and I will say it again " YOUR JUST NOT RIGHT":biglaugh: And no one even had to put in a quarter to figure that out :smilie_132:!
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If it took you this long to figure that out, wouldn't that make you twice as "just not right"?:biglaugh:
 
bk or not?

If we filed for protection,we would loose a lot more of our business,scaring customers with a filing for protection.We would probably come out maybe half the size we are now,and would never generate enough revenue to sustain this large of network,let alone be able to borrow money.I would guess we would be lucky to have 15,000 employees left.
 
imovaherenow said:
but,if they do bk..they will be history ...think about it...bk was the easy way out...why didnt they just do it instead of all this b s....
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you got to be kidding

tikitatt12 said:
Point taken. But why would the companytry to avoid it all costs? It seems like they are trying to push it non-union with everything they have done so far. It seems they are fighting it tooth and nail even though it would release them from all contracts. Seems counter-intuitive.
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A YRC bankruptcy would put everyone out of their misery. No, that's not correct either. There would be more misery trying to pay the bills. The company is trying restructure out of court. The bond deal was the only chance of liquidity. Bankruptcy is a long drawn out process. They need operating capital to operate during the process. They don't have the financing to carry them thru a bankruptcy. There will be no judge to get them off the hook and release them from all contracts. There would be no erasing of debt. There would be no coming out like Delta or GM. When they go into bankruptcy court no one comes out alive. That is why they are trying to avoid it at all cost. They do it all for you
 
tikitatt12 said:
I try to leave nothing to chance :) Seriously though I'm not saying they should just do it and be done with it, I just wondered why it was such a bad option.
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No major LTL carrier has ever surived bankruptcy, even a prepackaged Chapter 11 bankruptcy... First you need financing to get you out of bankrupcy such as the tens of millions of dollars given by the federal government to GM.. Second problem is as soon as you announce bankruptcy proceedings, customers will leave in huge numbers... YRC is doing everything to avoid bankruptcy simply because it will result in liquidation...
 
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