Yellow | Wednesday Meeting Between YRCW And IBT!

One question on this. Were all things equal? You can never discount the forces outside of a company when stating that something made it worse. i.e. Was the economy tanking at the time? Etc.
Really - I would like to know... if you can share that with me.

Thanks!

While I'm sure the economy had some impact somewhere along the way it does go much farther and deeper than that.
The big changes really started in the early to mid 2000s and they fundamentally changed the way they ran the company.
It really was a shame to see to be honest with you. They took something that really worked so well and just broke it.

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I guess we just look at things differently - Seems to me - from personal experience of the finances and VOTE of people I know.. the ones that are in the MOST financial trouble, with the most bills and the worst financial minds voted NO - and the ones that could move on and be OK.. without having to decide which child to sell voted yes.
Seems to me that those who are in the biggest financial messes themselves are looking to the company to 'fix' their messes. :hide: Don't hurt me - I'm just sharing my observations... BTW - when people have a financial mess in their personal lives - they all come to me and I plan out with them what to do next....

Sorry - I'm not trying to be a downer.

I really don't get into other peoples financial situation so I can only base it on mine which counter your experiences.
I've got about 7 years left to pay on my house, no credit card debt and one small car payment. I've planned for my future by setting up both IRAs and my 401k and yes, I did vote no.

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While I'm sure the economy had some impact somewhere along the way it does go much farther and deeper than that.
The big changes really started in the early to mid 2000s and they fundamentally changed the way they ran the company.
It really was a shame to see to be honest with you. They took something that really worked so well and just broke it.

Sent from my XT1080 using Tapatalk

It is always sad to see something change. When the change is a bad one it's worse. However, if we stand still we will be left behind. Change must happen..... For instance - Look at the 'postal service' and that TV rating company... wish I could remember the name.. They thought "We work now... we are good... no need to change" Then at least with Nealson ratings (I think that's what its called) they almost saw themselves go extinct because they didn't think they needed to change... and DVRs came out and "on Demand" and "internet TV" so the 'ratings' of a particular show on TV the night it was originally aired was falling and the ratings company wasn't able to accurately gauge the other viewing opportunities... left them scrambling to 'catch-up'. I heard that they did...but never followed up on it...

Anyhow - Change sucks - and for some it's harder than for others... but it must happen... if we stand still we will grow moss. :)
 
I really don't get into other peoples financial situation so I can only base it on mine which counter your experiences.
I've got about 7 years left to pay on my house, no credit card debt and one small car payment. I've planned for my future by setting up both IRAs and my 401k and yes, I did vote no.

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Fair enough - my apologies to you... but that kind of leaves me scratching my head at your other posts... you reference 'paying YRCs bills and not yours?'

Believe me - I understand your frustration... because personally the money that is not on the check is money taken directly out of my SAVINGS account... :) However - that in itself means I am able to PROVIDE for my family.... which - give all of the items we face in this day - is enough to make my heart smile.

Greed is not just for 'rich' people.... <---- something to think about
 
It is always sad to see something change. When the change is a bad one it's worse. However, if we stand still we will be left behind. Change must happen..... For instance - Look at the 'postal service' and that TV rating company... wish I could remember the name.. They thought "We work now... we are good... no need to change" Then at least with Nealson ratings (I think that's what its called) they almost saw themselves go extinct because they didn't think they needed to change... and DVRs came out and "on Demand" and "internet TV" so the 'ratings' of a particular show on TV the night it was originally aired was falling and the ratings company wasn't able to accurately gauge the other viewing opportunities... left them scrambling to 'catch-up'. I heard that they did...but never followed up on it...

Anyhow - Change sucks - and for some it's harder than for others... but it must happen... if we stand still we will grow moss. :)

I understand change is necessary but like you said, when it's for the worst it's not a good thing and that's exactly what happened. I was actually impressed when I first started working in New Penn and I don;t impress easily. Needless to say, I'm no longer impressed.
 
Fair enough - my apologies to you... but that kind of leaves me scratching my head at your other posts... you reference 'paying YRCs bills and not yours?'

Believe me - I understand your frustration... because personally the money that is not on the check is money taken directly out of my SAVINGS account... :) However - that in itself means I am able to PROVIDE for my family.... which - give all of the items we face in this day - is enough to make my heart smile.

Greed is not just for 'rich' people.... <---- something to think about

No need to apologize. Some of my comments may have been metaphorically speaking. One "bill" I would love pay more into would be my 401K. If I got my 15% back tomorrow it would all go right into retirement savings. If you have not figured it out yet, I want out of this business as soon as I'm financially able to. I'm shooting for 57 if the stock market keeps doing well.
 
It is always sad to see something change. When the change is a bad one it's worse. However, if we stand still we will be left behind. Change must happen..... For instance - Look at the 'postal service' and that TV rating company... wish I could remember the name.. They thought "We work now... we are good... no need to change" Then at least with Nealson ratings (I think that's what its called) they almost saw themselves go extinct because they didn't think they needed to change... and DVRs came out and "on Demand" and "internet TV" so the 'ratings' of a particular show on TV the night it was originally aired was falling and the ratings company wasn't able to accurately gauge the other viewing opportunities... left them scrambling to 'catch-up'. I heard that they did...but never followed up on it...

Anyhow - Change sucks - and for some it's harder than for others... but it must happen... if we stand still we will grow moss. :)

Quick history lesson on the subject of change.

A large company once had a west coast R&D campus, engineers there invented things like a graphical user interface(GUI) with little pictures all over the computer screen, they then invented a device to click on the little pictures(icons) to allow the user to open programs without having to type the name out at a drive prompt(C:\ firefox.exe) they spent several years and quite a few dollars to perfect this system, walked around branding terms like "paperless office" "electronic data interchange"(EDI).
Upon review the home office suits on the east coast hit roof what are these fools on the west coast doing they asked we're in the paper business. They closed the R&D center, the engineers upon hearing of the closing called some fellows they knew in the computer business to show them what they developed. All of them were hire by the 2 firms.


Who did they call you ask?
Steve Jobs & Bill Gates
What was the name of the firm that developed the first computer user friendly operating system and threw it away because they were in the paper copy business - Xerox.

Moral of the story times change you need to change with them Xerox finally did almost too late but they finally embraced the electronic age and today make some of the better printers/scanners/copiers and support systems around.
 
No need to apologize. Some of my comments may have been metaphorically speaking. One "bill" I would love pay more into would be my 401K. If I got my 15% back tomorrow it would all go right into retirement savings. If you have not figured it out yet, I want out of this business as soon as I'm financially able to. I'm shooting for 57 if the stock market keeps doing well.

I think some of what is leading our 'young' to the wrong places, is things like this where we speak in someone else's 'truth'. I understand why you did it... but it gives people the wrong impression of you and of what they might be losing or not losing.

The only reason to want 'more' is because you don't have, or don't think you have 'enough'. Sometimes wanting more is reasonable because what you lack are necessities, everything else is greed... sometimes it isn't so reasonable because what you lack is a 'big screen TV in every room of the house' OR necessities Because OF the big screen TVs - Just my opinion....

Sure I had to adjust to the pay cut... that I feel was brought on by the economy first and foremost, and I could be angry at YRC.... I also had to adjust to my $2000.00 per month pay loss when my son was born premature. What was I going to do - be angry at him.. for being born too early? NAH... just adjust plans and move on... you can still reach your goals! You'll just have to plan again... :)

Greed - A selfish desire for more than one needs or deserves. It can happen to anyone... no matter what your rate of pay.... it's just easier to point at the richest folk and say it.

And back to the 'why at Christmas' question... If I'm going to ask for money from someone... I wouldn't plan to do it at the time when people are worried and feeling strapped because it's the highest spending time of the year... I personally think that was the dumbest thing... However, due dates are due dates...

Best to you. Good luck with the retiring at 57 thing.... Get a plan and execute it... that's the key.
 
No need to apologize. Some of my comments may have been metaphorically speaking. One "bill" I would love pay more into would be my 401K. If I got my 15% back tomorrow it would all go right into retirement savings. If you have not figured it out yet, I want out of this business as soon as I'm financially able to. I'm shooting for 57 if the stock market keeps doing well.

It may or may not do well, but, realize that it has advanced ten years of profit in the past "recovering" 3. Take your gains and put them in something stable. There will be a correction coming. If your retirement horizon is less than five years, you need to be more careful than if it is 15. Just mho.
 
It may or may not do well, but, realize that it has advanced ten years of profit in the past "recovering" 3. Take your gains and put them in something stable. There will be a correction coming. If your retirement horizon is less than five years, you need to be more careful than if it is 15. Just mho.

Excellent advice. I'm too old to be aggressive and still a little too young to go the conservative route just yet.
I talk things over with my financial planner and we usually come up with a plan together that I'm comfortable with.

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Ok, I'll play along. How about returning New Penn to the way they used to operate. Before YRC took control New Penn had an OR of 85-90 consistently. 70% of deliveries were made before noon, returns were almost unheard of, damages were non existent, everyone worked smarter (union and management alike) and the company was one of, if not the most efficient carriers in the country. The place was seriously a well oiled machine and I give most of that credit to the former management team. Simply put, they knew what they were doing and how to execute it.

Along comes YRCW and they decide to reinvent the New Penn wheel. The OR is now probably in the 95-98 range, almost daily we have inbound loads arriving back between 9:30 and 10:30. The majority of peddle men now leave the yard between 10 and 11 with a handful being closer to noon with 15-20 deliveries on their trucks. The average day probably has 20-35 returns out of 450-500 put in the street and damages are through the roof.

YRCW should have left New Penn alone and let them do what they did best instead of destroying a once proud company and it's employees.
With all due respect, as a Preston guy, we always respected New Penn as The Best. Now- having said that- we work for Corporations. Yellow Corp and Roadway Corp did there thing, which cost money. Then they bought USF Corp which cost more. They didn't need yours or mine permission to do it. My Mother in Law often criticizes how businesses are run or how land is developed. I point out to her- if she wanted to control it- she should have bought it...

On the timing- I figure they've probably been frantically searching for financing all along? Probably turned down a lot. Now they found a financier willing, but at loan-shark rates with conditions. Desperation means desperate measures. And they struck out. Not good...
 
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