Yellow | YRC rebuffed in move to acquire ABF, ABF's parent says

Doesn't YRCW enjoy the presence of 2 IBT representatives on their board, whom are supposed to oversea all financial business transactions?

The Teamsters cannot stop a company from buying another company...They can only "watch and observe the situation and make sure that ALL member;s interests are protected".what most of you have not yet grasped, is that a 3rd party INVESTOR would be buying....YRC's money is closely watched by these investors and they know THEY would have to front the money to buy ABF, or any other company to add to the YRCW system....THE INVESTORS would be floating the money, not James Welch.....it is their money (THE INVESTORS) and they will buy whomever they wish....had it not been for them, we ALL would have been outside the trailer looking in by now........KK
 
Global Air! Central Frt!

As long as you trash em all,go ahead. You wanted to start with Yellow& thats fine but lets have a go at ABF from the Carolina guys, lets see Roadway spun itself off ala CF. And Viking, coles express come to mind,oh can't forget RPS now can we? lots of blame to spread around these outfits.lets hope ABF see's potential for profit down the road and don't fall prey to this trap.
 
...MR welch I heard good things about you from the yellow legacy people and I want believe your for real but damn this is a huge slap in the face

Mr. Welch is told who to approach by investors, i.e., the banks. If they say go make an offer, he must, or resign.
He may run YRCW, but he must do what the lenders require. If there is a possibility of a large influx of investors with an acquisition, it must be pursued.
 
First of all yrc has no money, to buy anything, is can hardly pay its employees now. We have a bunch bozos running yrc, and this bozos dont know what they are doing, as you can tell. They have not been able to turn yrc to profitbilty. Yet. As for abf people you still have it made compared to us at yrc, i used to work for roadway, when yellow took us over they killed roadway, here is an example, in our roadway district of about 25 terminal we were between top 5 in profits. As soon as yellow took us over, in less than 2 years we were closed down. Today we are lucky to get 25 shipments on most days. Yesterday we only got about 15 shipments. We have a worhtless salesman, they should just let him stay home and mail him his check. One thing i will tell you, share holders at yrc, need to get rid of the people running yrc. Because they are no good. No one at yrc has been able to turn yrc around yet. There are so many blind people running yrc. Here is another example, they have corporate accounts where they purchase things that are needed for daily operations, and it pay more with this accounts than if they bought at a noncoporate account,

plz stop ............................. roadway had all the big boys and managers in charge in the Midwest since merger for years with in the last year they have all been let go cause they didn't save the company either just stop neither management team cares its about eliminating union's imo together or not together both company's legacy costs( more taking out of pension then paying in, older workforce, etc) where killing them , with cheap hauling, low wage paying,bad bennies, hire bill counts on the dock, city and moves per hour in the yard, and less employees doing the work= non union trucking ltl and are inept union leaders, and most members who don't care = failure ..................................................... at least current yrc leaders have gotten us close to a profit now in a lot shorter period of time ...........a few years ago we where losing hundreds of millions
 
Look out ABF, if you give in to Yellow, you are doomed!!!

look at from share holders view if someone offers you a premium for your shares you make money ARKANSA BEST CORP OWNS OTHER COMPANYS BESIDES ABF........ BY THE WAY THEY MIGHT SAY HEY UNION IS A PAIN IN THE BUTT AND LONG TERM PROFITS WONT BE MUCH OR SURVIVE long term......................... SO SELL IT AND GIVE SHAREHOLDERS A NICE PROFIT AND FOCUS ON other companys or buy other trucking companies so in the end shareholders and board will decide not abf employees or management
 
Did you pay cash when you bought your house? Do you understand the concept of borrowing to buy something of value (a house, a business) if you expect the value of that thing to rise over time as you pay back the loan? You make a number of comments about finance but don't seem to really understand all that much.

my comment was more of being funny there yes I do understand

this isn't being done for that purpose imo elimanting more teamsters............ your quote Do you understand the concept of borrowing to buy something of value (a house, a business) if you expect the value of that thing to rise over time as you pay back the loan?

companys are bought sometimes to take the value and get rid of it shut it down.for various reasons............ also why some investment grps specialize in take overs and shutting them down there good at that lol
and buying abf isn't about growing imo as you say.............................to me its about getting assets to sell (property ) , down size(elimanting jobs), and and get a bunch of badly need equipment that's the value with out new equipment yrcw would fold I guess you didn't read some of my other later posts.................................... bottom line its just kicking the can down the road.......a little longer and is no good for are fellow teamster members at abf and it was a scare tactic to get abf to vote for givebacks more then anything imo
 
my comment was more of being funny there yes I do understand

Fair enough, point taken.

this isn't being done for that purpose imo elimanting more teamsters............ your quote Do you understand the concept of borrowing to buy something of value (a house, a business) if you expect the value of that thing to rise over time as you pay back the loan?

companys are bought sometimes to take the value and get rid of it shut it down.for various reasons............ also why some investment grps specialize in take overs and shutting them down there good at that lol
and buying abf isn't about growing imo as you say.............................to me its about getting assets to sell (property ) , down size(elimanting jobs), and and get a bunch of badly need equipment that's the value with out new equipment yrcw would fold I guess you didn't read some of my other later posts.................................... bottom line its just kicking the can down the road.......a little longer and is no good for are fellow teamster members at abf and it was a scare tactic to get abf to vote for givebacks more then anything imo

Unfortunately the groundwork for the real problem today (proliferation of so many non-union carriers as competition) was laid by the bozos that headed up our union at the top levels back in the 1970's and 1980's. Remember the anti-doublebreasting provisions that were so blatantly ignored back then by our leadership? I remember very well. Think CF. Why would someone today want to join a union that screwed over its own members that way?
 
Fair enough, point taken.



Unfortunately the groundwork for the real problem today (proliferation of so many non-union carriers as competition) was laid by the bozos that headed up our union at the top levels back in the 1970's and 1980's. Remember the anti-doublebreasting provisions that were so blatantly ignored back then by our leadership? I remember very well. Think CF. Why would someone today want to join a union that screwed over its own members that way?

Everything you say i agree with except the joining union part. One only has to look at the truckload bottom feeder carriers to see the future of a total non union LTL industry. Need to fix the union not get rid of it.
 
Everything you say i agree with except the joining union part. One only has to look at the truckload bottom feeder carriers to see the future of a total non union LTL industry. Need to fix the union not get rid of it.

I'm not suggesting doing away with the union, not at all. I'm just making an observation about why I believe people aren't that enthused about it. Totally agree about fixing the union.
 
ABF is worth about $18.00 per share (book value) and that is about what YRC has offered so far. If they shut 'er down and sold everything they would break even and eliminate a competitor. The stock has traded higher over the last three years and many investors bought at higher prices. They will not be so willing to sell at a loss.
 
The Teamsters cannot stop a company from buying another company...They can only "watch and observe the situation and make sure that ALL member;s interests are protected".what most of you have not yet grasped, is that a 3rd party INVESTOR would be buying....YRC's money is closely watched by these investors and they know THEY would have to front the money to buy ABF, or any other company to add to the YRCW system....THE INVESTORS would be floating the money, not James Welch.....it is their money (THE INVESTORS) and they will buy whomever they wish....had it not been for them, we ALL would have been outside the trailer looking in by now........KK
Well the Teamsters are getting real good at watching YRC dissolve the unionized LTL industry.. All theyve done since YRC started on this buying of of good financially solid companies is WATCH their LTL membership dwindle down to almost nothing.. Maybe this was Hoffas idea on how to dismantle his biggest headache in the IBT,, then he can later say its all YRCs fault.. I hope the old man haunts him EVERYNIGHT!!!
 
As long as you trash em all,go ahead. You wanted to start with Yellow& thats fine but lets have a go at ABF from the Carolina guys, lets see Roadway spun itself off ala CF. And Viking, coles express come to mind,oh can't forget RPS now can we? lots of blame to spread around these outfits.lets hope ABF see's potential for profit down the road and don't fall prey to this trap.
Actually COLKID, Roadway was spun off of Roadway Services, and yes they were kind enough to set The Big R free with no debt,, The Big R had nothing to do with what happened to Caliber Logistics after that,, and if youve forgotten Fed-Ex bought up RPS.
 
The Teamsters cannot stop a company from buying another company...They can only "watch and observe the situation and make sure that ALL member;s interests are protected".what most of you have not yet grasped, is that a 3rd party INVESTOR would be buying....YRC's money is closely watched by these investors and they know THEY would have to front the money to buy ABF, or any other company to add to the YRCW system....THE INVESTORS would be floating the money, not James Welch.....it is their money (THE INVESTORS) and they will buy whomever they wish....had it not been for them, we ALL would have been outside the trailer looking in by now........KK
Then why is it that every press release say yrc his & yrc that....
 
Well the Teamsters are getting real good at watching YRC dissolve the unionized LTL industry.. All theyve done since YRC started on this buying of of good financially solid companies is WATCH their LTL membership dwindle down to almost nothing.. Maybe this was Hoffas idea on how to dismantle his biggest headache in the IBT,, then he can later say its all YRCs fault.. I hope the old man haunts him EVERYNIGHT!!!

They can't find the old man, And can't get rid of 300lb one. I hate to think the 15% went to buy another company. Did our union forefathers die to to get us here? I think it might time for us to step up to the plate. I don't like this union against union crap either. I think it might be time to put our big boy pants on. My dad is rolling in his grave. Most likely yours is to. What more does the company need to do/ Club you over the Head???? >>>>>>>>>>>>>>>>oh, wait a minute, they already did that.
 
Then why is it that every press release say yrc his & yrc that....

Actually, it is YRCW.....EVERYTHING has to go by the Investors first.....you can bet this was, as it states a 3rd party is involved....they are the investors, as YRCW cannot get the credit limits to make the buy in the first place.....time will tell.....KK
 
Actually, it is YRCW.....EVERYTHING has to go by the Investors first.....you can bet this was, as it states a 3rd party is involved....they are the investors, as YRCW cannot get the credit limits to make the buy in the first place.....time will tell.....KK
Where thers smoke theres fire, everytime YRC talks of buying something they somehow usually do.. Almost looks like another 20,000 Teamster jobs will be lost an or turned upside down..
 
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