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Yellow | 2019! It's On!

TC1 said:
I think you are right. Unfortunately we have buckled to every request they they have asked for until now. It wouldn't surprise me at all if they asked for even more. I'm sure the "take it or we'll close" threat will come up again in 2019. We're going to have to call them on it.
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We didn't buckle but we had to vote several times til the union administration said it was ok.
 
bigtruk_us said:
They are all liars.Any company can shut down for any reason at any time.But please YRCW give us a 30day warning if you do decide to shut the cash cow down
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Inaccurate: When your creditors hold your debts you can't shut down unless your assets will satisfy your creditors.(minus the costs of the actual shutdown). Therefore, there was never a realistic chance of a shutdown. The majority couldn't understand this. The creditors simply wanted the debts paid at a more rapid pace. Try to digest these realities and you will begin to get it.
 
twospeeder said:
Inaccurate: When your creditors hold your debts you can't shut down unless your assets will satisfy your creditors.(minus the costs of the actual shutdown). Therefore, there was never a realistic chance of a shutdown. The majority couldn't understand this. The creditors simply wanted the debts paid at a more rapid pace. Try to digest these realities and you will begin to get it.
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Wow, where did you come up with this? A business can't shut down till all their debts are covered by their assets? If that was the case there would probably be no reason for a company to shutdown in the first place. The reason many companies do shutdown is because they are so underwater financially that there is no hope for becoming profitable.
 
Triplex said:
Wow, where did you come up with this? A business can't shut down till all their debts are covered by their assets? If that was the case there would probably be no reason for a company to shutdown in the first place. The reason many companies do shutdown is because they are so underwater financially that there is no hope for becoming profitable.
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Creditors don't lend at this level in the same manner as they lend to me or you. They assume a considerably large amount of control over a company as part of the agreement. The company does not remain independent of the creditor as we do when we borrow. It's something akin to a homeowners insurance. You can't neglect the asset the insurer covers and keep the policy intact. If the insurer discovers discrepancies with the home they can pull out, keeping prior payments intact before a large claim is filed. The big creditors won't wait for the big claim either. They veto company decisions that they see as a threat to the repayment; they become the biggest part of the management team.
YRC's assets were sold for working capitol only with approval from creditors. There was still the billions in gross income as long as the company stayed in business. If the company shut down (not a possibility in this case, creditors wouldn't allow that) the creditors would lose their entire investment.
If the company could improve it's net, the creditors could make their profit. Once the creditors were satisfied the company would be cut loose to manage as they saw fit. At this point in time, in this case, the independent YRC would enjoy running a unionized company with a marginalized and impotent union.
Labor costs are the largest costs impacting the net. Reduce those costs, improve the net, get debts paid off quickly. How?
 
twospeeder said:
Creditors don't lend at this level in the same manner as they lend to me or you. They assume a considerably large amount of control over a company as part of the agreement. The company does not remain independent of the creditor as we do when we borrow. It's something akin to a homeowners insurance. You can't neglect the asset the insurer covers and keep the policy intact. If the insurer discovers discrepancies with the home they can pull out, keeping prior payments intact before a large claim is filed. The big creditors won't wait for the big claim either. They veto company decisions that they see as a threat to the repayment; they become the biggest part of the management team.
YRC's assets were sold for working capitol only with approval from creditors. There was still the billions in gross income as long as the company stayed in business. If the company shut down (not a possibility in this case, creditors wouldn't allow that) the creditors would lose their entire investment.
If the company could improve it's net, the creditors could make their profit. Once the creditors were satisfied the company would be cut loose to manage as they saw fit. At this point in time, in this case, the independent YRC would enjoy running a unionized company with a marginalized and impotent union.
Labor costs are the largest costs impacting the net. Reduce those costs, improve the net, get debts paid off quickly. How?
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Not trying to start a fuss with you Twospeeder, just wonder if the hundreds of carriers that bit the dust
over the years knew this?
 
seabreeze said:
Not trying to start a fuss with you Twospeeder, just wonder if the hundreds of carriers that bit the dust
over the years knew this?
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I am not trying to start a fuss either,but if they do not show quarterly profits,the stock price drops,a few major customers get scared,and run. The banks,nor anyone else would be able to keep them in business.
 
twospeeder said:
Creditors don't lend at this level in the same manner as they lend to me or you. They assume a considerably large amount of control over a company as part of the agreement. The company does not remain independent of the creditor as we do when we borrow. It's something akin to a homeowners insurance. You can't neglect the asset the insurer covers and keep the policy intact. If the insurer discovers discrepancies with the home they can pull out, keeping prior payments intact before a large claim is filed. The big creditors won't wait for the big claim either. They veto company decisions that they see as a threat to the repayment; they become the biggest part of the management team.
YRC's assets were sold for working capitol only with approval from creditors. There was still the billions in gross income as long as the company stayed in business. If the company shut down (not a possibility in this case, creditors wouldn't allow that) the creditors would lose their entire investment.
If the company could improve it's net, the creditors could make their profit. Once the creditors were satisfied the company would be cut loose to manage as they saw fit. At this point in time, in this case, the independent YRC would enjoy running a unionized company with a marginalized and impotent union.
Labor costs are the largest costs impacting the net. Reduce those costs, improve the net, get debts paid off quickly. How?
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WHAT???
 
00mustang said:
They couldn't be too bad Big R ran lots of them gas and diesel they even have one on display in the Henry Ford Musemn it's a straight truck rithem

00, just a thought, if CS offers me that Volvo instead of my check, could we negotiate a 15% discount on your delivery charge?
BTW, do you accept Canadian CHEQUES?
I just received a dividend cheque for $1.38 from Canada, I can pass it to you.
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Why sure I can do that BUT I would have to check with "Flyer" to make sure I got the correct exchange rate and add on my 25% fuel surcharge plus a skid drop at your home. SO we should all be good for that amount
 
00mustang said:
Why sure I can do that BUT I would have to check with "Flyer" to make sure I got the correct exchange rate and add on my 25% fuel surcharge plus a skid drop at your home. SO we should all be good for that amount
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Forgot I was dealing with a union brother!
 
Everyone talking about new contracts, MOU, etc. We have a contract! It's called The Master Freight Contract. The MOU is a sub contract, with cuts and many changes(as we all know). When it expires, we continue under the already written Master Freight Contract. Unless several thousand idiots agree to vote in another MOU. Don't listen to talks of a new agreement. Walk away. Vote NO on anything they lay down. April 1, 2019, we get our contract back. It's already written. It's already signed. Don't fall for their scare tactics. They have wasted millions of $$$$$ on tvs in the break rooms, that stupid mobile eye system in the trucks, remodeling bathrooms, etc. If they were worried about their loans, they should have applied all that wasted money to the principal. Instead of wasting millions on things that have absolutely nothing to do with the operation of this company. WAKE UP PEOPLE!!! Vote NO ON EVERYTHING THEY OFFER!
 
Joesnow said:
You guys will not get everything, you need them to you a raise, improve the pension so people want to be teamsters again, vacation time over the next couple contracts, rebuild to get back all that you have lost. Just think if XPO and Fed Ex became teamsters to rebuild what use to be! Time for all truckers to wake up, all the truckers need better pay and benefits, it's a tough job on the road all the time all the sacrifice, and things in life that have to be given up, yep pay and benefits we make America move.
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I can't speak for XPO, but as for Fedex you can keep your Teamsters Union. We don't want paycuts or in union language "give backs". You can also keep your pension cuts and 2nd rate equipment. You can keep your corrupt union leaders as well. I sympathize with the plight that the teamster have put you guys in, but not to the point of having the cancer where I drive. Best of luck to you all.
 
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