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Yellow | Concession Package makes a HUGE difference

bookwyrm said:
Well put Goldwing. For those that disagree please post a sensible arguement instead of useless banter.
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Everyone keeps discounting the 'restructuring' loss as if it doesn't matter. It's a loss, just like any other loss and the company will continue to incur it just as they did in the previous months. Who out there realistically thinks that you can take two very large companies that are losing money and combine them and not incur expense along the way? And then think that the expense only occurs for three months? Or better yet combine two poorly run companies into one and somehow make that company efficient?

If you had that ability why didn't you just make both of the companies efficient and profitable to begin with?

What needs to be addressed is the loss in freight and revenue which is in the 40% range. Your wage reductions will never recover that lost revenue.
 
Learn how to swim ? duhh

These people that would vote yes for absolutely anything put on the table make me sick. They would toss the women and children out of a life boat to save their own :eck13:, guess what cowards? The life boat your voting on is going down too. bye bye loser.
 
Question???

The way I understand it.....The pension funds rejected the "leaseback" option, instead of the company paying the pension fund payment with cash. In other words, the pension funds did not want property or terminals.....they wanted their "cash" payment instead. However, the leaseback (sale) of terminals and property continues to move forward. So shouldn't our numbers look much better than they do? With this much extra cash from the leaseback program, and the company NOT putting into the pension fund, shouldn't we have a pile of money left over?:popcorn:
 
Goldwing said:
How much difference does the new concession make????

According to the Wall Street Journal the total 2nd QTR loss was $309 million... When removing the restructuring and other one time charges, the operating loss for the Quarter was $209 million or approximately $70 million per month...

While in the 2nd Qtr the pension payments were deferred but the cost actually incurred so that expense would be included in the operating losses... The expense would be shown but instead of crediting cash for payment, a long term debt was credited instead... Simply, the pension costs would be included in the 2nd Qtr loss...

The new concession package is not a deferral but a temporary withdrawal so no expense would be incurred... This concession savings should equal to $50 million of the $70 million monthly loss... Of course that still leaves $20 million in losses per month... That $20 million must be realized through the reductions of costs during the 2nd quarter which have not shown up in operating costs yet along with other cost savings measures... Also, hopefully, the drastic decline in freight will finally stabilize...

The conession package does make a huge difference... Will it save the company??? That's definitely debatable but at least there will be a chance of survival...

A chance to survive is better than looking at unemployment in the immediate future...
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Where is the link to the wall street journal article you reference?
 
freefromdat said:
These people that would vote yes for absolutely anything put on the table make me sick. They would toss the women and children out of a life boat to save their own :eck13:, guess what cowards? The life boat your voting on is going down too. bye bye loser.
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What happened? You're slipping! You forgot to mention that you start college at age 46 in September!! :hysterical:
 
Goldwing said:
How much difference does the new concession make????

According to the Wall Street Journal the total 2nd QTR loss was $309 million... When removing the restructuring and other one time charges, the operating loss for the Quarter was $209 million or approximately $70 million per month...

While in the 2nd Qtr the pension payments were deferred but the cost actually incurred so that expense would be included in the operating losses... The expense would be shown but instead of crediting cash for payment, a long term debt was credited instead... Simply, the pension costs would be included in the 2nd Qtr loss...

The new concession package is not a deferral but a temporary withdrawal so no expense would be incurred... This concession savings should equal to $50 million of the $70 million monthly loss... Of course that still leaves $20 million in losses per month... That $20 million must be realized through the reductions of costs during the 2nd quarter which have not shown up in operating costs yet along with other cost savings measures... Also, hopefully, the drastic decline in freight will finally stabilize...

The conession package does make a huge difference... Will it save the company??? That's definitely debatable but at least there will be a chance of survival...

A chance to survive is better than looking at unemployment in the immediate future...
Click to expand...
Did all the other management pukes get this same memo, nice try dumb:eck13:!
 
The stock is getting a boost,whats also important here is pricing if yrc hangs on- estes, conway and fedex, and all other companies will have to raise rates. The predatory pricing by our competitors is in my veiw why we are back behind the 8 ball after the last round.
 
Goldwing said:
How much difference does the new concession make????

According to the Wall Street Journal the total 2nd QTR loss was $309 million... When removing the restructuring and other one time charges, the operating loss for the Quarter was $209 million or approximately $70 million per month...

While in the 2nd Qtr the pension payments were deferred but the cost actually incurred so that expense would be included in the operating losses... The expense would be shown but instead of crediting cash for payment, a long term debt was credited instead... Simply, the pension costs would be included in the 2nd Qtr loss...

The new concession package is not a deferral but a temporary withdrawal so no expense would be incurred... This concession savings should equal to $50 million of the $70 million monthly loss... Of course that still leaves $20 million in losses per month... That $20 million must be realized through the reductions of costs during the 2nd quarter which have not shown up in operating costs yet along with other cost savings measures... Also, hopefully, the drastic decline in freight will finally stabilize...

The conession package does make a huge difference... Will it save the company??? That's definitely debatable but at least there will be a chance of survival...

A chance to survive is better than looking at unemployment in the immediate future...
Click to expand...

Oh they will make it up another reduction in pay in another 6 months and another 2000 layoffs
The Gift Of Giving never ends
 
I'd like to see the link to this article also.
Looks more like fuzzy mathematics in a attempt to swing NO
votes at the last minute. Sorry most ballots already sent.
 
Ok.i'm good at math.so you say we'll only lose 60 million in the 3rd quarter and what 100 milliion in the fourth..i'll estimate...wait lets get into 2010.....first quarter what another 60-100 million loss....and with all these great quarters our customers will loyaly stay by our side..just like they have...right..and our competiton will be running with fear...omg...yrc only loses another 200 million in 3 quartes there saved.........................
 
Goldwing said:
How much difference does the new concession make????

According to the Wall Street Journal the total 2nd QTR loss was $309 million... When removing the restructuring and other one time charges, the operating loss for the Quarter was $209 million or approximately $70 million per month...

While in the 2nd Qtr the pension payments were deferred but the cost actually incurred so that expense would be included in the operating losses... The expense would be shown but instead of crediting cash for payment, a long term debt was credited instead... Simply, the pension costs would be included in the 2nd Qtr loss...

The new concession package is not a deferral but a temporary withdrawal so no expense would be incurred... This concession savings should equal to $50 million of the $70 million monthly loss... Of course that still leaves $20 million in losses per month... That $20 million must be realized through the reductions of costs during the 2nd quarter which have not shown up in operating costs yet along with other cost savings measures... Also, hopefully, the drastic decline in freight will finally stabilize...

The conession package does make a huge difference... Will it save the company??? That's definitely debatable but at least there will be a chance of survival...

A chance to survive is better than looking at unemployment in the immediate future...
Click to expand...

It wouldnt matter if you gave these morons back 90% THEY STILL HAVE THE SAME MANAGEMENT WHO DESTROYED THESE COMPANYS IN THE FIRST PLACE!!!!!! UNTILL YOU CLEAN HOUSE OF THOSE $@%$#@ THIS PLACE WILL NEVER SURVIVE!! THEY ARE GOING TO KEEP MAKING THE SAME IDIOTIC DECISIONS THEY'VE BEEN MAKING.
 
HAmmer-Roadway said:
It wouldnt matter if you gave these morons back 90% THEY STILL HAVE THE SAME MANAGEMENT WHO DESTROYED THESE COMPANYS IN THE FIRST PLACE!!!!!! UNTILL YOU CLEAN HOUSE OF THOSE $@%$#@ THIS PLACE WILL NEVER SURVIVE!! THEY ARE GOING TO KEEP MAKING THE SAME IDIOTIC DECISIONS THEY'VE BEEN MAKING.
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amen to that!
 
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