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New Penn | 1 day extention

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OVERLAND PARK, Kan., Dec. 29 /PRNewswire-FirstCall/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it has extended the expiration date for its previously announced exchange offers until 11:59 p.m., New York City time, on December 29, 2009, unless further extended.

As of 11:59 p.m., New York City time, on December 28, 2009, 92% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53% of the 8 1/2% Notes had been tendered into the exchange offers, representing 81% of the company's outstanding notes. As of the prior expiration date on December 23, 2009, 90% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53% of the 8 1/2% Notes had been tendered into the exchange offers, representing 80% of the company's outstanding notes.


YRC Worldwide Extends Debt-for-Equity Offers to December 29 - Yahoo! Finance
 
Wasn't there an old TV series "One day at a time" seems to be more like a soap opera ..maybe I can write tomorrow's headline today extended to the 31st...
 
crazy said:
Wasn't there an old TV series "One day at a time" seems to be more like a soap opera ..maybe I can write tomorrow's headline today extended to the 31st...
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Crazy 19 million due on the 31st. I believe they have run out of extensions. Percentage of bondholders didnt change in a week so 1 more day is not going to help. Personally I think they will go with the prepackaged bankruptcy tomorrow late or Thurs. and continue to operate. So back to the concession stand and get some more popcorn this horror movie is not over yet.. But then again the banks could give them a new deal for the 99th time. Who knows???
 
Irishman107 said:
Crazy 19 million due on the 31st. I believe they have run out of extensions. Percentage of bondholders didnt change in a week so 1 more day is not going to help. Personally I think they will go with the prepackaged bankruptcy tomorrow late or Thurs. and continue to operate. So back to the concession stand and get some more popcorn this horror movie is not over yet.. But then again the banks could give them a new deal for the 99th time. Who knows???
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19 million due? no problem, why do you think management took an additional 18.4 % pay cut for the month?? not 18, not 19 but 18 point 4....they chose the number for a reason
 
They chose the 18.4% for two reasons, first if your pay is cut by 33% you are eligible for unemployment compensation. Of course they fall just under that number, second in my opinion is that they needed additional money to pay our holidays with no revenue. Tell me what you guys think.
 
boston25 said:
They chose the 18.4% for two reasons, first if your pay is cut by 33% you are eligible for unemployment compensation. Of course they fall just under that number, second in my opinion is that they needed additional money to pay our holidays with no revenue. Tell me what you guys think.
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good point...guess thats why they have to take unpaid days off also...if you add the unpaid days and the pay cuts they are at 33.4% pay cut...but on paper there pay was cut less than that I guess for the reasons you stated. I know if I was an hourly non union employee I would be talking to dept of wages and / or a lawyer
 
19 million due, sounds like pocket change, but when u lose 2 million a day yrc is desperate to get this bond deal done so they can pay...
 
boston25 said:
They chose the 18.4% for two reasons, first if your pay is cut by 33% you are eligible for unemployment compensation. Of course they fall just under that number, second in my opinion is that they needed additional money to pay our holidays with no revenue. Tell me what you guys think.
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"Ditto!!!"
 
I work for new penn,got to read an email from s.g. Of new penn sent at 2.57 pm this afternoon,he seemed confident this will pass,it may take 3 to 5 business days to get it done,the email stated there are other investors involved in making this work,the problem is yrc needs 19 million by tomorrow,stay tuned.
 
Mr. Gast told me personally on December 10th of last year that we would be sold by the end of the year. It is over a year later and he we are. He may know more than you and I but just think he gets all his information from Zollars and his flunkies.
 
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