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.
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 ?
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)
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 ?
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.
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.
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?