hooterville_mom
TB Lurker
- Credits
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I am in a FB group where Tyson Johnson's cell # was posted, and I decided to call him this morning just for rumor control. He was pretty put out that his personal number was posted online (and I didn't know it was personal or I wouldn't have called) Nevertheless, he was gracious enough ( albeit a little cranky) to speak with me, a YRC wife, for almost 20 minutes. Here's what I took away:
1) There will not be another vote on this issue. It cost a couple hundred thousand dollars to hold the election. The people have spoken. Don't call asking for a re-vote.
2) As of now, there is no Plan B
3) IBT hired their own expert to go through YRC's books, and they said that without this restructuring, bankruptcy is inevitable.
4) He sees bankruptcy as a strong possibility if not probability.
5) He did not negotiate with YRC because the local unions did not allow him to. They voted not to negotiate.
Now there is nothing wrong with standing on principles, my husband voted no, but this ship appears to be going down a la Hostess.
After this dinosaur draws its last breath, we are dunzo with the freight industry.
One last thing from me, not TJ- I didn't know but the stock we all got in 2011 was able to be transferred as of Oct 1 2013. Get rid of it as it is likely to ne worthless. Last week it was up to alomst $20 a share and you could have cleared $800. We sold today for $590 and had it put in an interest bearing account. Call Teamsters 401k, they are in charge of it now.
1) There will not be another vote on this issue. It cost a couple hundred thousand dollars to hold the election. The people have spoken. Don't call asking for a re-vote.
2) As of now, there is no Plan B
3) IBT hired their own expert to go through YRC's books, and they said that without this restructuring, bankruptcy is inevitable.
4) He sees bankruptcy as a strong possibility if not probability.
5) He did not negotiate with YRC because the local unions did not allow him to. They voted not to negotiate.
Now there is nothing wrong with standing on principles, my husband voted no, but this ship appears to be going down a la Hostess.
After this dinosaur draws its last breath, we are dunzo with the freight industry.
One last thing from me, not TJ- I didn't know but the stock we all got in 2011 was able to be transferred as of Oct 1 2013. Get rid of it as it is likely to ne worthless. Last week it was up to alomst $20 a share and you could have cleared $800. We sold today for $590 and had it put in an interest bearing account. Call Teamsters 401k, they are in charge of it now.
