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.