What's new

Yellow | 2019! It's On!

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?
Click to expand...
The YRC slow motion bankruptcy was where everyone was a winner, the employee was the only loser. The creditors won when YRC stopped missing payment deadlines and began to pay with the monies gained off the employee paychecks and the renege on pension payouts. The union won by remaining neutral (???) Saying they wouldn't take a side here. YRC upper management shared the pain while collecting stock payouts. Each deal is different. Other companies do other things according to their circumstances. Why does each occurance have to mirror the others? WHY DO THEY ALL HAVE TO BE THE SAME? Do you have a legal principal? Because we are still stuck here until you explain why you still have questions and can't see the evil beauty of this scheme; we haven't even got to the fun part.
Years ago we were all rolled like a bunch of rubes and you don't get it.
YRC WAS NEVER GOING TO GO BANKRUPT, THEN OR NOW.
 
twospeeder said:
The YRC slow motion bankruptcy was where everyone was a winner, the employee was the only loser. The creditors won when YRC stopped missing payment deadlines and began to pay with the monies gained off the employee paychecks and the renege on pension payouts. The union won by remaining neutral (???) Saying they wouldn't take a side here. YRC upper management shared the pain while collecting stock payouts. Each deal is different. Other companies do other things according to their circumstances. Why does each occurance have to mirror the others? WHY DO THEY ALL HAVE TO BE THE SAME? Do you have a legal principal? Because we are still stuck here until you explain why you still have questions and can't see the evil beauty of this scheme; we haven't even got to the fun part.
Years ago we were all rolled like a bunch of rubes and you don't get it.
YRC WAS NEVER GOING TO GO BANKRUPT, THEN OR NOW.
Click to expand...

 
twospeeder said:
You guys voted to let YRC cut your pay, didn't you?
Click to expand...
You belived the company that lied to you every chance when they said they would close the doors, so you blinked and they know it. We have no chance for a decent contract now because they know you from when you caved.
 
twospeeder said:
The YRC slow motion bankruptcy was where everyone was a winner, the employee was the only loser. The creditors won when YRC stopped missing payment deadlines and began to pay with the monies gained off the employee paychecks and the renege on pension payouts. The union won by remaining neutral (???) Saying they wouldn't take a side here. YRC upper management shared the pain while collecting stock payouts. Each deal is different. Other companies do other things according to their circumstances. Why does each occurance have to mirror the others? WHY DO THEY ALL HAVE TO BE THE SAME? Do you have a legal principal? Because we are still stuck here until you explain why you still have questions and can't see the evil beauty of this scheme; we haven't even got to the fun part.
Years ago we were all rolled like a bunch of rubes and you don't get it.
YRC WAS NEVER GOING TO GO BANKRUPT, THEN OR NOW.
Click to expand...

Wish you could have explained all this to PIE 27 yrs ago, think I could of worked a few more years.
 
Triplex said:
Thank goodness you joined Truckingboards and came on here to give us all the straight scoop. :1036316054:
Click to expand...
Remember? ...you had that big truck payment back then? Nevermind the house payment. There were other debts too...you were over leveraged. Your wife got the mail and read the YRC propaganda before you did. You were both convinced about it. You were used to getting a new truck every few years and your wife wasn't going to drive junk. You weren't going to give all that up. Now you still can't face it. ...the company didn't have to do it to you when you'd do it to yourself, that's why they came back around for more after the first time.
 
twospeeder said:
Remember? ...you had that big truck payment back then? Nevermind the house payment. There were other debts too...you were over leveraged. Your wife got the mail and read the YRC propaganda before you did. You were both convinced about it. You were used to getting a new truck every few years and your wife wasn't going to drive junk. You weren't going to give all that up. Now you still can't face it. ...the company didn't have to do it to you when you'd do it to yourself, that's why they came back around for more after the first time.
Click to expand...
Ha. I've only bought one new car in my life. I'm past 60. And I still drive it after 21 years. Just had to buy a used truck. Never new. Because a 23 year old pickup was just not dependable anymore. Only reason. I'll let someone else pay for the new smell. I'll buy a 99 cent air freshener!
My wife doesn't give a ::shit:: about yrc propaganda or Teamster propaganda. She'll throw it out before I get home. Which is ok. Doesn't even make good bathroom reading like a people magazine. :17142:
 
twospeeder said:
Remember? ...you had that big truck payment back then? Nevermind the house payment. There were other debts too...you were over leveraged. Your wife got the mail and read the YRC propaganda before you did. You were both convinced about it. You were used to getting a new truck every few years and your wife wasn't going to drive junk. You weren't going to give all that up. Now you still can't face it. ...the company didn't have to do it to you when you'd do it to yourself, that's why they came back around for more after the first time.
Click to expand...

Where in the world do you get all your personal info on these people you don't even know?
I'll bet you're just fooling with us, I bet you are a real psychic, how bout it? Don't keep us in suspence.
 
YRC WAS NEVER GOING TO GO BANKRUPT, THEN OR NOW.,:6788: 2 speed needs to stop posting the TRUTH !!
 
twospeeder said:
evil beauty of this scheme; we haven't even got to the fun part.
Years ago we were all rolled like a bunch of rubes and you don't get it.
YRC WAS NEVER GOING TO GO BANKRUPT, THEN OR NOW.
Click to expand...

The danger in your posts is that you articulate better than the average person and you are correct on some of the business principles you mentioned,such as the mortgage insurance and the control the creditors have over the company.Then you throw in your own theory that it was impossible for the company to shut down.You will have people buying into something you conjured up with zero facts,it's just the way you think it is.

All the business analyst thought it was a miracle that YRCW survived.All of the trucking analysts were skeptical about their survival.The same analysts that sit in on the quarterly results meetings with Old Dominion,FED EX, XPO,ABF,UPS,ect.ect but you somehow know more than they do.
I guess you don't remember when we were being charged 150 million per year in interest with impossible loan terms.They had no intention of keeping us open and as a matter of fact they planned to profit from our closure with credit default swaps.Several investors were betting against our ability to survive.Read the link
https://www.counterpunch.org/2010/01/08/how-the-teamsters-beat-goldman-sachs/

This was exactly what was happening in the case of YRCW. According to Michael Greenberger, the University of Maryland law professor who headed Trading and Markets at the Commodity Futures Trading Commission in the Clinton Administration, this was a case of “Goldman (Sachs) et al seemingly forcing the country’s biggest truck company into bankruptcy in order to get pay-offs under CDS, with 50,000 jobs at stake.

I guess you and Wongway are smarter than the rest of us that thought our jobs were in peril and know more than a law professor so please send us the factual links.

By the way, round two was even closer to the end and without those cuts to satisfy the new lenders we would have absolutely been in bankruptcy protection.Ill be happy to give you and Wong those facts also.
 
Last edited:
You must log in or register to reply here.
Top