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Yellow | Another big financial name is invested in Yellow Corporation

ABF381 said:
Mr "Investor" you sir are the troll as you joined right before Yellows demise, by reading your posts I think you are confused and thinking you are writing to the Wall Street Journal, not Truckingboards....Mufungo is in fact a truck driver and long time member doing what you just did with your long winded rebuttal....voicing his opinion...he isn't trolling....I don't have the time to pick apart your whole post but I am going to make one statement on the most idiotic part....taking on over a billion dollars in debt (plus even more for Holland) is indeed the reason Yellow is gone..they owed over a billion dollars after buying Roadway and they still owe that much now....they paid over a billion in interest on that money...One Yellow was going to shrink the company making it even more difficult to pay it back...a smart investor wouldn't minimize such a thing...
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Yellow is gone because the 2007-2009 economy, at the end of 2008 when we took concessions YRCW had approximately 1.36 billion in debt, in 2005 they paid approximately 1.5 billion for USF, the debt they carried and could not pay down was from the USF purchase, which they overpaid for. They purchased Roadway for less than USF.
 
355, I have to disagree in part. most of what you wrote is true, but that's not the whole story. Yellow bought Roadway (and New Penn) in 2003. They paid far too much for it, and with borrowed money. Then they left these two national brands in head-to-head competition, even though they owned both of them. In 2005, they bought the USF group for about $1.4 billion, nearly three times what it was actually worth. Again, this was done with borrowed money. The USF group had five operating entities that I know of (I think Red Star was already gone). They closed Dugan and Bestway very quickly, leaving Reddaway, Holland and Glen Moore. In certain areas of the country, there were for a short time FIVE different truck lines all competing for the same freight, and Yellow owned all of them. That has just one definition: stupidity!!
Then in 2008, the Great Recession hit. The business levels dropped, the value of the collateral dropped, but the debt load stayed the same. That "lit the fuse" on the destructive mess. The banks demanded Yellow and Roadway to merge within 90 days. That was the biggest catastrophe in the history of LTL. We never recovered from it and have been on life support since that time.
In the meantime, we now know thanks to the bankruptcy case that the "glass house" gang was collecting ridiculous bonuses, basically robbing the place blind. We may never know just how much money they took for themselves that falls outside the norms for compensation. I only hope that the United States Justice Department delves into that. Meantime, we're all out of a job.
 
Real Teamster said:
355, I have to disagree in part. most of what you wrote is true, but that's not the whole story. Yellow bought Roadway (and New Penn) in 2003. They paid far too much for it, and with borrowed money. Then they left these two national brands in head-to-head competition, even though they owned both of them. In 2005, they bought the USF group for about $1.4 billion, nearly three times what it was actually worth. Again, this was done with borrowed money. The USF group had five operating entities that I know of (I think Red Star was already gone). They closed Dugan and Bestway very quickly, leaving Reddaway, Holland and Glen Moore. In certain areas of the country, there were for a short time FIVE different truck lines all competing for the same freight, and Yellow owned all of them. That has just one definition: stupidity!!
Then in 2008, the Great Recession hit. The business levels dropped, the value of the collateral dropped, but the debt load stayed the same. That "lit the fuse" on the destructive mess. The banks demanded Yellow and Roadway to merge within 90 days. That was the biggest catastrophe in the history of LTL. We never recovered from it and have been on life support since that time.
In the meantime, we now know thanks to the bankruptcy case that the "glass house" gang was collecting ridiculous bonuses, basically robbing the place blind. We may never know just how much money they took for themselves that falls outside the norms for compensation. I only hope that the United States Justice Department delves into that. Meantime, we're all out of a job.
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Stupidity!! Here is a picture of stupidity.

IMG_9475.md.jpeg
 
Real Teamster said:
355, I have to disagree in part. most of what you wrote is true, but that's not the whole story. Yellow bought Roadway (and New Penn) in 2003. The paid far too much for it, and with borrowed money. Then they left these two national brands in head-to-head competition, even though they owned both of them. In 2005, they bought the USF group for about $1.4 billion, nearly three times what it was actually worth. Again, this was done with borrowed money. The USF group had five operating entities that I know of (I think Red Star was already gone). They closed Dugan and Bestway very quickly, leaving Reddaway, Holland and Glen Moore. In certain areas of the country, there were for a short time FIVE different truck lines all competing for the same freight, and Yellow owned all of them. That has just one definition: stupidity!!
Then in 2008, the Great Recession hit. The business levels dropped, the value of the collateral dropped, but the debt load stayed the same. That "lit the fuse" on the destructive mess. The banks demanded Yellow and Roadway to merge within 90 days. That was the biggest catastrophe in the history of LTL. We never recovered from it and have been on life support since that time.
In the meantime, we now know thanks to the bankruptcy case that the "glass house" gang was collecting ridiculous bonuses, basically robbing the place blind. We may never know just how much money they took for themselves that falls outside the norms for compensation. I only hope that the United States Justice Department delves into that. Meantime, we're all out of a job.
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I don’t disagree with any of that, I just wanted to keep it simple brother. My point was they actually had paid off Roadway.
 
Real Teamster said:
355, I have to disagree in part. most of what you wrote is true, but that's not the whole story. Yellow bought Roadway (and New Penn) in 2003. They paid far too much for it, and with borrowed money. Then they left these two national brands in head-to-head competition, even though they owned both of them. In 2005, they bought the USF group for about $1.4 billion, nearly three times what it was actually worth. Again, this was done with borrowed money. The USF group had five operating entities that I know of (I think Red Star was already gone). They closed Dugan and Bestway very quickly, leaving Reddaway, Holland and Glen Moore. In certain areas of the country, there were for a short time FIVE different truck lines all competing for the same freight, and Yellow owned all of them. That has just one definition: stupidity!!
Then in 2008, the Great Recession hit. The business levels dropped, the value of the collateral dropped, but the debt load stayed the same. That "lit the fuse" on the destructive mess. The banks demanded Yellow and Roadway to merge within 90 days. That was the biggest catastrophe in the history of LTL. We never recovered from it and have been on life support since that time.
In the meantime, we now know thanks to the bankruptcy case that the "glass house" gang was collecting ridiculous bonuses, basically robbing the place blind. We may never know just how much money they took for themselves that falls outside the norms for compensation. I only hope that the United States Justice Department delves into that. Meantime, we're all out of a job.
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Very good and accurate post RT. I don’t always agree with you, but this post pretty much tells it like it is!!! :1036316054::1036316054::1036316054:
 
Real Teamster said:
355, I have to disagree in part. most of what you wrote is true, but that's not the whole story. Yellow bought Roadway (and New Penn) in 2003. They paid far too much for it, and with borrowed money. Then they left these two national brands in head-to-head competition, even though they owned both of them. In 2005, they bought the USF group for about $1.4 billion, nearly three times what it was actually worth. Again, this was done with borrowed money. The USF group had five operating entities that I know of (I think Red Star was already gone). They closed Dugan and Bestway very quickly, leaving Reddaway, Holland and Glen Moore. In certain areas of the country, there were for a short time FIVE different truck lines all competing for the same freight, and Yellow owned all of them. That has just one definition: stupidity!!
Then in 2008, the Great Recession hit. The business levels dropped, the value of the collateral dropped, but the debt load stayed the same. That "lit the fuse" on the destructive mess. The banks demanded Yellow and Roadway to merge within 90 days. That was the biggest catastrophe in the history of LTL. We never recovered from it and have been on life support since that time.
In the meantime, we now know thanks to the bankruptcy case that the "glass house" gang was collecting ridiculous bonuses, basically robbing the place blind. We may never know just how much money they took for themselves that falls outside the norms for compensation. I only hope that the United States Justice Department delves into that. Meantime, we're all out of a job.
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Sounds like the glass house gang was stealing from a sinking ship while the workers were trying to bail water to stay a float.
 
Real Teamster said:
I would call that company enemy #1. What's frightening is that to this day, he thinks he did a good job!
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Come on RT,use that critical thinking intelligence of yours,do you really think he cares either way?...These corporate CEOs have been playing this game for decades,kicking the can down the road while bleeding the company dry 'lining their pockets'...This is who men like Iceman,Puff Driver and Blade defend,admire and respect,and then have the ******* balls to blame the Union,even after all the concessions and government bailout!!!!...''Free Market'' at it's finest?...and so it goes for the Working Class:kickedoutsmile:

William Zollars...''picture of stupidity?''...is that so?...Zollars made $322,465 dollars as Independent Director at Prologis Inc. this year alone...William Zollars has spent 24 years on various BODs and in various 'executive positions'...William Zollars has a Net Worth of at least $12.3 million dollars...NO!!!!...William Zollars isn't stupid...William Zollars IS ''Corporate America'',and just as all of these STUPID CEOs have been doing for decades,they're living a life of luxury ''laughing'' all the way to the bank while screwing the Working Class....Cui Bono!!!!

https://wallmine.com/people/5300/william-d-zollars
 
Cam1 said:
Come on RT,use that critical thinking intelligence of yours,do you really think he cares either way?...These corporate CEOs have been playing this game for decades,kicking the can down the road while bleeding the company dry 'lining their pockets'...This is who men like Iceman,Puff Driver and Blade defend,admire and respect,and then have the ******* balls to blame the Union,even after all the concessions and government bailout!!!!...''Free Market'' at it's finest?...and so it goes for the Working Class:kickedoutsmile:

William Zollars...''picture of stupidity?''...is that so?...Zollars made $322,465 dollars as Independent Director at Prologis Inc. this year alone...William Zollars has spent 24 years on various BODs and in various 'executive positions'...William Zollars has a Net Worth of at least $12.3 million dollars...NO!!!!...William Zollars isn't stupid...William Zollars IS ''Corporate America'',and just as all of these STUPID CEOs have been doing for decades,they're living a life of luxury ''laughing'' all the way to the bank while screwing the Working Class....Cui Bono!!!!

https://wallmine.com/people/5300/william-d-zollars
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You know you just offended Triplex, not putting his name in the line up.
 
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