New Penn | Any idea's (curious)

Nothing - When Yellow got an extension from the creditors last week there was a stipulation that any transactions of $50 million or more need to get approved from the banks.
 
Hope for the best and prepare for the worst. I posted an article on the bank waivers that suggests YRC has to put up more assets as collateral to keep banks satisfied, as well as be very careful about asking the banks for more money to operate. If things get tough I would expect more layoffs and benefit reductions for non-union employees as managements first action, followed by cutbacks in equipment repairs, and then more union employees on layoff to save more $. In the end (pure speculation on my part) I would not be suprised if YRC tries to shutdown union companies it owns through bankruptcy, then continue operating its non-union entities after shaking off all the debt. Anything is possible in this economy-banks still are reluctant to lend money and housing prices still sliding. I believe we can ride this out as long as YRC management does their homework before they spend every dollar they receive in revenue.
 
just my opinion but, if they cant pay the debts and do file..then holland and newpenn are gone unless someone steps in to buy newpenn. I dont see a buyer for holland because of the size. But i bet newpenn can be had for 200-300 million
 
Now if Bankruptcy were in the mix, I would assume that the banks would approve a sale of Holland and/or New Penn. But my big question is who would buy and what bank would want to hold the note. Not a good option for a buyer in these time.
 
just my opinion but, if they cant pay the debts and do file..then holland and newpenn are gone unless someone steps in to buy newpenn. I dont see a buyer for holland because of the size. But i bet newpenn can be had for 200-300 million

Sorry I can't agree. No other company or corporation will buy a unionized company, unless they are also union. So that means UPS or ABF, and at this time I can't see that considering the economy. How would it benefit them ?
 
Sorry I can't agree. No other company or corporation will buy a unionized company, unless they are also union. So that means UPS or ABF, and at this time I can't see that considering the economy. How would it benefit them ?

because npme STILL makes money inspite of YRC
 
Lotta Rumor Going Around

Heard from three different sources at Baltimore yesterday about a pending sale for New Penn, maybe as early as the end of the week for an anouncment. Now I'm reading about it on other boards. Zollars being gone would be another big plus.

Maybe there is a God!

Yahoo! Message Boards - YRC Worldwide Inc. (YRCW) - New Penn Sold!! Zollars Gone!!

http://********************/forums/new-penn/12385-new-penn-sold.html

(second link won't work, check out forum on teamstersonline / New Penn)
 
Hey Bud

Heard from three different sources at Baltimore yesterday about a pending sale for New Penn, maybe as early as the end of the week for an anouncment. Now I'm reading about it on other boards. Zollars being gone would be another big plus.

Maybe there is a God!

Yahoo! Message Boards - YRC Worldwide Inc. (YRCW) - New Penn Sold!! Zollars Gone!!

http://********************/forums/new-penn/12385-new-penn-sold.html

(second link won't work, check out forum on teamstersonline / New Penn)

What's up brother how is everybody doing? Not getting many phone calls
 
Quote:
Originally Posted by newpenn107
just my opinion but, if they cant pay the debts and do file..then holland and newpenn are gone unless someone steps in to buy newpenn. I dont see a buyer for holland because of the size. But i bet newpenn can be had for 200-300 million



Sorry I can't agree. No other company or corporation will buy a unionized company, unless they are also union. So that means UPS or ABF, and at this time I can't see that considering the economy. How would it benefit them ?


I have to disagree with you both

ABF has the cash, but has stated many times they would NOT buy another trucking company, but in these times we are living, anything can happen.
Then again, why would ABF pay 300 million for New-Penn alone, when they can get the whole YRC group for 500 million ?
 
Why would any carrier help Yellow out right now by giving them cash for NPME or any other portion of the YRC group ??

If it was me I would just sit back and wait.....or like some other companies are doing, turn up the heat with regards to pricing and sales pressure. Try to choke the last bit of life out of it.

But never would they give them the cash they desperately need to survive.
 
Why would any carrier help Yellow out right now by giving them cash for NPME or any other portion of the YRC group ??

If it was me I would just sit back and wait.....or like some other companies are doing, turn up the heat with regards to pricing and sales pressure. Try to choke the last bit of life out of it.

But never would they give them the cash they desperately need to survive.

A lot of truth in this post. Now there could be some credibility to this, but I also think it could be JUST a rumor since the YRCW results come out tomorrow morning and this is something to stimulate interest in YRC for the market.

Who knows..........time will only tell.
 
Good luck to you at NP, YRC #'s are bad

A lot of truth in this post. Now there could be some credibility to this, but I also think it could be JUST a rumor since the YRCW results come out tomorrow morning and this is something to stimulate interest in YRC for the market.

Who knows..........time will only tell.

The result's are posted as of 4:03pm, its not good. I have friends at NP, hope you all come out ok. It is a real shame what YRC did to your company. You can see them at Yahoo fianace under the YRC ticker.
 
Well NewPenn was owned by Arnold Industries (non Union) and things were at their best then.
Newpenn properties alone are worth about 70 million, we also might have the most up to date and newest equipment in the industry...And I would be willing to bet that Newpenn is the only yrc company that actually made a profit in 2008
yrc might be 500 million on paper. but what do u think the sale of all properties and equipment would bring?
 
I believe ABF would by Holland to help them implement RPM in the western states. We have an excellent balance sheet but its still a huge risk who knows???
 
Well NewPenn was owned by Arnold Industries (non Union) and things were at their best then.
Newpenn properties alone are worth about 70 million, we also might have the most up to date and newest equipment in the industry...And I would be willing to bet that Newpenn is the only yrc company that actually made a profit in 2008
yrc might be 500 million on paper. but what do u think the sale of all properties and equipment would bring?

All the properties and equipment would bring as much as people are willing to pay for it.

Unfortunately, there is not a huge market for trucking terminals right now. Maybe if YRC liquidated, you could get some capital for the equpiment because other carriers would need it.

However, that would only be after a tragic event.

Lets keep the fingers crossed, but it don't look good.
 
All the properties and equipment would bring as much as people are willing to pay for it.

Unfortunately, there is not a huge market for trucking terminals right now. Maybe if YRC liquidated, you could get some capital for the equpiment because other carriers would need it.

However, that would only be after a tragic event.

Lets keep the fingers crossed, but it don't look good.

I very much agree with your thoughts on selling the terminals and that is another big flaw in the YRC integration (Yellow and Roadway) for what the amount they will generate from selling the real estate. With regards to the equipment, how much of it is owned vs. leased?
 
Well NewPenn was owned by Arnold Industries (non Union) and things were at their best then.
Newpenn properties alone are worth about 70 million, we also might have the most up to date and newest equipment in the industry...And I would be willing to bet that Newpenn is the only yrc company that actually made a profit in 2008
yrc might be 500 million on paper. but what do u think the sale of all properties and equipment would bring?

:popcorn:as of close today, YRC was worth about $172 million on paper ( stock value ) You are right, the properties and equipment would be worth more.
 
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