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Yellow | Change Of Operations 03/11/13

:dance::dance:Everyone relax" HAVE FAITH IN THE CURRENT LEADERSHIP THEY HAVE GOTTEN US HERE THIS FAR" LOL If this COO fails and now the longer stem times to do P&D work and the such,they will blame us the workers for their mistakes and the such. They will have another change in 6 months U wait and see!:bgroovy:
 
Elwood said:
Its a business, a large one at that. This is no "mom 'n pop" shop.

If it were, we would have Christmas parties and bonuses.....

Those that run it have a responsibility to their shareholders and those that have assumed risk to make it PROFITABLE.

The days are gone when ANYONE could start up a trucking company with the protection of "regulation," service and/or timeliness could be sold to customers.

That "may" happen again, but, only when ALL of the smaller, non-threatening entities have been eliminated and when those with mega $$$ backing are satisfied with their share of the market. (You see the dilemma?)

I feel for those that have been displaced throughout this nasty string of events, from the first to be laid off after the merger to those that stand to lose their jobs in the future.

(But, its still business)

Do you think that if the two companies were to have remained separate, I mean Yellow not buying Roadway, that both would have survived and not made SIGNIFICANT changes to their respective networks?

How dramatic or drastic is immaterial, but it would have happened. Networks would have been altered and terminals would have been closed! The economy could not have support these behemoths!

Now you want to rant about how this is a "kick in the teeth." If YRC is to pay off their incredible debts and reduce the interest rates associated therewith, then they must show "due diligence." Streamlining is of the utmost. There were some bottlenecks, with which needed to be dealt. Is this the best solution, only the future will tell; I am sure there are MORE changes to come.

Now I ain't too happy about all of this high level mgmt addition, for sure, but I do understand bringing in people that the boss feels can be trusted. I will not pass financial judgement on that for at least one year. (personally :9529:)

Now, if we had all voted "no" in the beginning, it would be moot. YRC as we know it would be out of business and have emerged from bankruptcy as YRCX. In the process 25,000 would be looking for jobs with non-"union" carriers, the NMFC would be a memory and no one would be left to fight for better wages and benefits for all, thus, not keeping wages in the industry competitive.

Now, understand, I do not drink "koolaid." I do understand economics slightly and I am able to draw conclusions from information I have accumulated.

Do not stir up crap because you have an axe to grind with the past. Everyone that works for this company should realize that jobs are on the line EVERY day. The better we do our jobs and the more efficient we become, the better chance we have of continuing.

The past is passed, get over it!
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I agree with the statemants that you made, however I feel that if you streamline one side of the company and beef up the other side, really, what has been acomplished. I am going to go out on a limb and say that you are not affected by any of this breaking news are you? I will not judge either answer you give.
 
tutone710 said:
Too many small terminals with in 60 miles of one another. time too cut the fat.
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It appeared to me with the 3 terminals I had closed that the loss of freight after about a year did'nt help our bottom line either. Chicken or Egg type of thing?? :shrug:
 
Lets just see if us Road and P&D drivers have the balls that the clerical change had. I'm willing to bet we don't. Just remember, it's your family that matters and not your job! Money can't buy love folks. IT WILL BE HARD FOR ME ALSO, but IM DONE MOVING.
 
Chicago 309

YRC will write a check to the hall with employee concession money , the hall will green light the COO. The end.
 
Supermac said:
I agree with the statemants that you made, however I feel that if you streamline one side of the company and beef up the other side, really, what has been acomplished. I am going to go out on a limb and say that you are not affected by any of this breaking news are you? I will not judge either answer you give.
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Not this time, but two of my former barns have closed.

I am able to empathize.
 
jenny807 said:
Wrong... I have said over, and over again there will always be another COO around the corner. It's just like snow in the winter, and a thunderstorm in the summer. It's like getting gas after eating to much Taco Bell...it's gonna happen!

So, let me be the first to say this won't be the last change.

P.S. You need to go back, and look at why those two are banned members; it wasn't because they disagreed with me.

As for your pig comment; I hope this company stays in business for a long time, and I am sure the families of all the employees feel the same, and at least most of the effected employees might have a chance to stay on somewhere! Trucking is a transient occupation; always has been, always will be.

P.P.S.

(I quit and went to work for the profitable company 30 minutes from the house.)

So, why are you worried about my opinions, and YRC???
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You went back and forth with Rockstar about his "rumors" of this change, you also made comments about how changes were so positive, yea positive if you liked moving in "hopes" of a greener pasture.. Sorry not happening yet with this PIG and its 13 or so changes. Didnt CF have something like 11 beofre they were finally gone?? Nothing good ever comes from these things, and it seems to me people are getting alot fed up with moving around the country to remain employed with this PIG.. Personally Im not worried about this change since it has no bearing on the profitable part of the company, but I have alot of friends that Ive grown with who have decisions to make about staying employed. Once again this PIG is disrupting lives,, I know they dont care nor do they have to care. Just chew on this, you dont see the regionals making 13 changes in a 10 year period, we didnt see Roadway making all of thes changes in the same amount of time, and Ive heard Yellow never had this many changes. Seems to me its your fine management that has to flush the system of good people and workers to try and figure out how to save a buck because they dont know how to make a buck..
 
Elwood, Albag and anyone else that see's this COO as “just business”,

I can't speak for everyone else but, I can and damn well will speak for myself:
I sir's, am the same employee doing the same job I was doing before all of this mess, when our company ran 16 consecutive quarters, making record profits!

When the powers to be acquired Roadway, USF and bought a truck line in China, I like all of the other employees had no say in it, THEY did it for the share holders.

When the powers to be, in a down turned economy, decided to merge Roadway and Yellow, I like all of the other employees had no say in it, THEY did it for the share holders.

After the merger, when management fired all of the supervision that had any kind of clue as to how to move freight and get along with the men and replaced them with a bunch of snot nosed punks that couldn't collectively find their own asses, I like all of the other employees had no say in it, THEY did it for the share holders.

WE, the employees have given up 15% of our wages, taking away from our ability to provide for our family's.
WE, the employees have given up 75% of our pension contributions, taking away from our ability to provide security in OUR retirement.
WE, most of the employees anyway, have given up some of our seniority in one way or other and/or relocated because of the merger, disrupting our and our family's lives already.

And now, as we watch this new group of managers run what used to be two of the oldest, best run company's straight into the ground, closing even more terminals, displacing even more employees, disrupting even more family's instead of “growing” the company, I like all of the other employees, am supposed to just sit back and let it happen because, THEY are doing it for the share holders.

I sir's am not just a number, a tool for Management to use and throw away when they are through.
I like all of the other employees, am a key part of YRC, this is my home, my company and have years of my life invested in this company. WE the employees are the ones that do the work day in and day out that actually pay the bills. We the employees are now part of the “share holders”.

Isn't it about time that WE, the employees demand that Management pull their collective heads out of their asses and start managing this company like it should be, clean their own house if you will, before THEY come to us asking us to sacrifice any more?
 
Amen LB

longblade said:
you are wrong ,at least it was never as bad as the last 8 years . more changes the last 8 years that the 12or 13 before.
you better check again with all those family's you were talking about because of the 3 or 4 ive been involved in id say there was a much larger % of broken familys than ever before,wifes dont wont to move away from their kids and guys say i gotta work so they go for a while until the seperation from their lifes builds up and its over, seen it over and over again.
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I'm laid of from Abliene 09' working for USF 2 years now (laid off 3 months total at USF). I've seen MANY sell their home - move Brides and children buy a new home ONLY TO BE FK'D ALL OVER AGAIN. A truck driver is NOT TRANSIENT freight is. How many have moved 1k miles only to work one week? And the majority of job offers are paying 1991 wages. I hired in in Detroit (not any YRC) at $13.75/hr and today 2013 docks start at $12.00/hr for a temp co that charges $25.00/hr.

YRC is saving JPMorgan's credit default swaps NOT Teamster Jobs.

Who do you see mostly on the road? I see few Yellow mostly FedX then SEF then UPS then Estes, I even see more CRAPY Central Transport (that bastard should be sleeping with Kawamee) than Yellow (not dising RW).

The COO's are screwing way tooooooo many good men and women.

I want my pension payments in cash today so I can screw myself tomorrow. UPS should have been a WARNING for the (us) captives that remain.
 
little d, your reaction is appropriate. However you're perspective is biased. This is about reducing costs. When a terminal's geographic territory is enlarged it's ability to improve density (revenue per trailer) increases. There will be an overall reduction in empty or partially loaded linehaul miles. Add that savings to the obvious savings realized by closing some terminals and this makes ECONOMIC sense. I have much more confidence in James Welch's and Jeff Rogers' decisions than in the horrible decisions made by Bill Zollars. We (everyone employed at YRCW) were left to try and resuscitate a dying business. We still have too much capacity and logically it must be reduced. Will there come a time when this enterprise grows, I do hope so. But at this point the ESSENTIAL task is to SURVIVE!
 
ah the end is near my friends the truth hurts what no comments on this

i have been saying this since first give back this place is on tract to close between summer of 2014 or before 2015 contract all the signs are there last change and this was about elimanating 300 plus employeees to save money to pay bills not about moving frieght faster or better in most cases yrc is smaller then yellow back before merger

heres the only fact that matters , throw away the ebitda bull****

one number matters right here - 1,366,000,000 in debitas of the end of 2012 !!!!!!!!!!!!!!!!! we keep going further in debt .................... bond swap got us down from 1,35 billion 1.15 billion 3 years ago i think since then it goes up every year
........and i cant find the numbers but i think they need 790 million to pay covenat paymenst and over a billion in 2014 due to loan restructering and interest and principal payments they cant pay last few years ........................
look at all the new epuipment oh wait we dont, buy stock in duck tape to fix chicago is out of drivers alot sometime there is up to 80 loads in the chicago area that didnt move come monday night from weekend .............= great service lol so why is getting rid of 109 road drivers a good thing.....plus the 200 that wont move that can, just like the last change, over 3/4 didnt move 200 plus road guys gone saves 25 million not including dock , city,mechanics,clerical, to help pay fuel bill lol = less drivers to move frieght equalls bad service= loss of customers to do service issues its already happned frm last change at some terminals


FINANCIALS
Income Statement
Balance Sheet
Cash Flow
All numbers in millions (except per share items and employees)
Annual
Quarterly





Dec 2012

Dec 2011

Dec 2010

Dec 2009



Assets



Cash and Equivalents

208.70

200.52

143.02

97.79



Receivables

460.10

476.79

442.50

515.81



Inventories

27.40

25.91

16.46

18.41



Other Current Assets

77.90

103.15

47.78

119.82



Total Current Assets

774.10

837.96

768.03

858.82



Property, Plant & Equipment, Gross

2,869.00

3,074.86

3,237.97

3,588.47



Accumulated Depreciation & Depletion

1,677.60

1,738.30

1,687.40

1,749.00



Property, Plant & Equipment, Net

1,191.40

1,336.55

1,550.57

1,839.48



Intangibles

99.20

117.49

139.52

163.54



Other Non-Current Assets

160.80

193.84

134.80

170.23



Total Non-Current Assets

1,451.40

1,647.88

1,824.90

2,173.25



Total Assets

2,225.50

2,485.84

2,592.93

3,032.07



Liabilities & Shareholder Equity



Accounts Payable

162.00

151.92

147.11

198.72



Short Term Debt

9.10

9.46

222.87

197.13



Other Current Liabilities

424.10

514.36

648.71

613.98



Total Current Liabilities

595.20

675.74

1,018.70

1,009.83

*******************************************************************THIS NUMBER HERE******************************************************************************************
:busted::6817:
Long Term Debt

1,366.30 2012 number

1,345.20 2011

837.26 2010

935.78 2009
AND I DONT KNOW WHERE TO FIND THE COVENANT PAYMENTS BUT I THINK THIS YEAR IS 790 MILLION AND OVER A BILLION IN 2014 I BELIEVE .............. WHERE WE GOING TO GET THAT MONEY ANYONE ANYONE FERRIS BUELLER O.O
 
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Al good try but your dead wrong its about down sizing to close the doors read my post ABOVE THE NUMBERS TELL THE STORY JUST LIKE WHEN A COMPANY SAYS WE LOST 3 MILLION COMPARED TO SAME QTR LAST YEAR WHAT THEY DIDNT TELL YOU IS THEY MADE 6 MILLION PROFIT LAST YEAR IN THAT QTR ...................................................................BUT STILL MADE 3 MILLION THIS QTR EVEN THOUG THEY SAID WE LOST 3 MILLION COMPARED TO LAST YEAR THIS TIME
 
Albag,
the problem with your logic/perspective; "This is about reducing costs" is that these terminals were open and doing fine before the merger when we ran 16 consecutive quarters making record profits.

This is the same mis-managenent as the "cross dock" BS. We at KCM (326) have been told by supervisors, that they don't care if we only move 1 bill a night, as long as we load it and they can show good #'s.

Someone from the glass house came to our terminal telling the P/D Drivers that we had to many customers and we had to reduce the # of pick up's and delivery's.... Someone....Anyone, please for the sake of God, explain to me how in the hell any company, especially in this economy, can have to many friggin customers???????????

Some genius came up with this friggin football league pitting terminals all across this country against each other....WE ARE ALL ON THE SAME TEAM!!!!!!! Our competition isn't each other, it's the other LTL Truck lines....WTF, this is like having Grean Bay offense playing their defense in the Super Bowl!!!!!!!!!!!!!!!!!!!!!!!!!!

In KC, they combined both terminals and WE now have a board smaller than ether terminal. THEY can not run this terminal !/2 as efficient as WE were when we ran 2/3rd's again more freight across OUR dock.

The bottom line here is, until Management pulls their heads outa their asses and WE as a whole start working together as a team, THEY can continue to close terminals but, WE are going to loose money.
 
I am as frustrated as anyone. But in the MISGUIDED effort to be all things to all people $bill destroyed what could have been a great company. Now Welsh and Rogers are doing CPR on YRCF. They are on the right path. YRCF is a long haul LTL carrier, that is what Yellow and Roadway did profitably. Stem times are not as important when the freight is 3+ day. Expedited over night and second day is what NewPenn, Holland, and Reddaway do best. Our prior leadership had YEARS to run us into the ground. Don't you think the current leadership should be given a couple of years to resuscitate the business.
 
albag said:
I am as frustrated as anyone. But in the MISGUIDED effort to be all things to all people $bill destroyed what could have been a great company. Now Welsh and Rogers are doing CPR on YRCF. They are on the right path. YRCF is a long haul LTL carrier, that is what Yellow and Roadway did profitably. Stem times are not as important when the freight is 3+ day. Expedited over night and second day is what NewPenn, Holland, and Reddaway do best. Our prior leadership had YEARS to run us into the ground. Don't you think the current leadership should be given a couple of years to resuscitate the business.
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"Don't you think the current leadership should be given a couple of years to resuscitate the business.?"....Well said!......KK
 
maybe im missing something.
seems the path we are on is the same path that got us to where we are now.
changing lanes.moving people , hiring more managment that have no clue about freight doesnt seem to be working.
maybe its time to really clean house on the top .
im pretty sure i could cut 30-40 million in my 1st days.
id bet i could find a couple dozen vps that are doing nothing at all.
 
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