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Yellow | Apollo Global pulls out of Yellow's bankruptcy financing plan

Docker said:
You're right... the family makes that decision... not the doctor. But that's not what happened. The head of the family gets the opinions of all the direct family members and then makes the decision.

Here's the problem with your perception... you're trying to make O'Brien take the role of doctor... sorry but that role goes to Hawkins... after all... it was the doctor's (Zollars... Welch... Hawkins) incompetence and negligence that led to the patient's condition.

Here's how I see it... the head (O'Brien) of the family (Teamster's Union) sends out the survey to get the the opinions of all the direct family members (Yellow Teamsters) which then made the decision. After all... the IBT President is elected to represent it's members in the same capacity as the President of the United States and it's citizens. If you don't like the way the president represents you... you vote them out... like in Junior's case... I didn't like it but that's just the way it is.

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Don't get me wrong... I do understand your viewpoint here but do you understand mine?

“It's not what you look at that matters, it's what you see - Henry David Thoreau
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Jeff Rogers as well.
 
Puff Driver said:
What was so wrong about modernizing work rules, obviously they had property to back up loan payments?
There were dozens of inefficient work rules and terminals that needed to be shuttered and combined.
Perhaps if that happened the jobs would have been preserved.
But SOB's style of fire, ready aim killed 30,000 jobs and put many families in distress without healthcare.
I guess some folks love a tough guy, I do but only in movies...
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Pay raises comes with modernizing work rules, Hawkins wasn’t willing to raise road drivers pay, Hawkins chose to file bankrupt.
 
Puff Driver said:
What was so wrong about modernizing work rules, obviously they had property to back up loan payments?
There were dozens of inefficient work rules and terminals that needed to be shuttered and combined.
Perhaps if that happened the jobs would have been preserved.
But SOB's style of fire, ready aim killed 30,000 jobs and put many families in distress without healthcare.
I guess some folks love a tough guy, I do but only in movies...
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Yeah Puff for once you are right. The problem is it should've been done 10 years ago! Not a union problem a management problem.
 
Docker said:
You mean a well reasoned position that you and only you thought of... nobody else.

Tell me... just what part of my analogy isn't backed up with facts... "The head (O'Brien) of the family (Teamster's Union) sends out the survey to get the the opinions of all the direct family members (Yellow Teamsters) which then made the decision.

Or are you just going to ignore this reply like these two replies that you did the last time you questioned me on my facts...

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And... why you're at it... tell me just what part of those posts weren't factual. But yet... here you are... thinking that Yellow still stood a chance of making it even after having those numbers shoved in your face. That's your problem... you simply ignore questions that you can't dream up a well reasoned reply and still refuse to entertain the thought of others even when you are shown the facts.

So you see... you wouldn't know a well reasoned position if it walked up and bit you in the ass.
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Sorry if I sound ignorant but who is Judy?
 
Razorblade said:
Nobody needs to explain Yellow's numbers. Yellow was saddled with enormous debt. For more than decade the company and union worked together to keep trucks rolling a 30,000 employed. Then came SOB.

Surveys, yeah. Isn't it strange that no one knows what those surveys showed. It's been weeks since we heard from the "pay the rate or shut the gate" crowd. Guess we will never know.
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I agree with you on the survey part… IMO… those who participated in that survey have every right to see the results… just like those contract tallies at ABF and TForce.

Evidently… you need to have those numbers explained to you because it goes to show that after 15 years Yellow wasn’t reducing that debt one damn bit even with major concessions from the union. No… the company and union did not work together… the union did their part but the company failed to do their part… it’s as simple as that. Just one example of that and to show just how incompetent the company was… all one has to look to what occurred in 2013… 4 years into the agreement and still in massive debt despite major concessions…and what does the company do… they make an offer to buy yet another company (ABF) which is what got them in trouble in the first place. They didn’t learn one damn thing… do you call that working together?

And this is not a case of “pay the rate or shut the gate”… it’s more of a “put our concessions to good use or shut the gates or time will end up doing for you”. Just good ole common sense.
 
Razorblade said:
Nobody needs to explain Yellow's numbers. Yellow was saddled with enormous debt. For more than decade the company and union worked together to keep trucks rolling a 30,000 employed. Then came SOB.

Surveys, yeah. Isn't it strange that no one knows what those surveys showed. It's been weeks since we heard from the "pay the rate or shut the gate" crowd. Guess we will never know.
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Here's an article from 2020...

After 100 years and a loan, YRC readies for another long run

The LTL carrier, whose continued survival has perplexed analysts, escapes the jaws of dissolution once again.

When the industry heard from YRC Worldwide in May, it was perched on a cliff, possibly about to go over. The company did not take questions after its first-quarter earnings call on May 11, and that did not augur well for the LTL giant. At the time, YRC had about $833 million in debt, and it had lost $104 million in 2019, on revenues of $4.9 billion.

YRC officials also admitted the company would not make future EBITDA covenants that lenders expected. And the company had not paid Central States, the largest of its pension plans, since February, causing YRC and unions to negotiate eventual payments. The company was running on fumes and the fumes were thinning, one analyst concluded.

“If we don’t get any good news in the next 30 days, we would not be surprised to see a wind-down of operations on or before July Fourth weekend,” wrote David Ross, Stifel managing director for global transportation and logistics, in a prescient memo issued May 12.

But the industry learned in the next episode of earnings, during an Aug. 3 conference call, that YRC escaped the jaws of dissolution with a $700 million federal loan, made possible with congressional funding that came after the onset of COVID-19. The loan came from a $17 billion fund that Congress authorized within the CARES Act and was administered by the Treasury Department. In exchange, the Treasury took 30% stake in YRC in the form of common stock.
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https://www.transportdive.com/news/YRC-survival-2020/583005/

Now tell me… does that actually sound like a company that had a future?
 
ROLLBACK said:
Lol, it’s really funny when you read the opening statement, and people are mad at O’Brien for posting a picture of a tombstone. When it was Zollar who sent out flyers with trucks running of a cliff in 2008, go figure.
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Yes sir... it is... I guess that some people consider running of a cliff just isn't as permanently fatal as a tombstone.

Just imagine the surprising shock value of that tombstone had when year after year... it was nothing but article after article questioning YRC's ability to survive. Here's another one from 2017...

As YRC's Welch calls it a day, the company's future becomes someone else's problem

The Overland Park, Kan.-based less than truckload (LTL) carrier was rescued from the boneyard at the end of 2009 and early 2010 by the enormous financial sacrifices of its unionized workforce and the almost-surreal forbearance of its lenders. When Welch took over 18 months later, however, YRC was still on life support. It was deeply in debt, weighed down by underperforming businesses, and trying to survive in an environment of weak LTL demand, with rivals deliberately underpricing their freight to drive the company out of business. Welch was also burdened with decisions made by prior CEO William D. Zollars to acquire rivals Roadway Express in 2003 and US Freightways in 2005, moves that led to dramatic declines in service and would come to virtually drown YRC in an ocean of red ink during a period in the wake of the Great Recession when the company's tonnage collapsed.

Nearly six and a half years later, YRC still stands, albeit not without trials and errors; more pain inflicted on its unionized workers, represented by the Teamsters union; and questions about its future—especially what happens over the next five years.
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https://www.dcvelocity.com/articles...mpany-s-future-becomes-someone-else-s-problem

But yet... I can't recall a single one mentioning a word about top management's sacrifices... except if one considers them not being able to buy ABF in 2013...
 
Razorblade said:
Nobody needs to explain Yellow's numbers. Yellow was saddled with enormous debt. For more than decade the company and union worked together to keep trucks rolling a 30,000 employed. Then came SOB.

Surveys, yeah. Isn't it strange that no one knows what those surveys showed. It's been weeks since we heard from the "pay the rate or shut the gate" crowd. Guess we will never know.
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I wish I knew how much less some of these People would have paid to stay employed by YRC. On their applications for new jobs, Tell the new Employer, You don't want any Money..You just want to be treated Bad and under no circumstances will you take a retirement Pension
 
Docker said:
I agree with you on the survey part… IMO… those who participated in that survey have every right to see the results… just like those contract tallies at ABF and TForce.

Evidently… you need to have those numbers explained to you because it goes to show that after 15 years Yellow wasn’t reducing that debt one damn bit even with major concessions from the union. No… the company and union did not work together… the union did their part but the company failed to do their part… it’s as simple as that. Just one example of that and to show just how incompetent the company was… all one has to look to what occurred in 2013… 4 years into the agreement and still in massive debt despite major concessions…and what does the company do… they make an offer to buy yet another company (ABF) which is what got them in trouble in the first place. They didn’t learn one damn thing… do you call that working together?

And this is not a case of “pay the rate or shut the gate”… it’s more of a “put our concessions to good use or shut the gates or time will end up doing for you”. Just good ole common sense.
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Doesn't sound like common sense to me. 30,000 well paying jobs gone with no hope of the industry absorbing them.
But I guess you are right. Your union stood firm. Solidarity won the battle for you. Too bad you lost the war.
 
Razorblade said:
Doesn't sound like common sense to me. 30,000 well paying jobs gone with no hope of the industry absorbing them.
But I guess you are right. Your union stood firm. Solidarity won the battle for you. Too bad you lost the war.
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You know what doesn't sound like common sense to me... confusing casualties of war as losing the war because the war will never be over which every good Teamster knows as well as understands... and yet you wonder why you are perceived as anti-union.

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Docker said:
You know what doesn't sound like common sense to me... confusing casualties of war as losing the war because the war will never be over which every good Teamster knows as well as understands... and yet you wonder why you are perceived as anti-union.

0620279834.jpg
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Two left, one of those a gift from UPS, and you think you're winning.
 
Razorblade said:
Two left, one of those a gift from UPS, and you think you're winning.
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First off... you are the one who presumes here then tries to state it as a fact.... not me. Did I say that the union was winning... I think not... but I did say that it's a constant fight. And look at you... you said the war was lost like it's a fact. I have news for you... the war will never be over as long as the union stands... and if... a big if... that ever happens... it sure won't be from the lack of fighting... not submitting. That you will never understand because IMO... if the odds are against you... you would rather submit than fight. I'm just thankful the Teamsters of the past didn't feel that way and appreciate their huge sacrifices or we wouldn't nearly have what we have today. I could only imagine what gobbledygook you would have been spewing if you were around at the time.
 
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