Yellow | Could the union just buy YRCW?
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Jack Knife
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google esop,
imported_stevieg151
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The paperboy will soon be able to buy it.
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Yes, you are right...it does...but why?.....KK
Harley Davidson is employee owned. I actually heard a guy discussing this as a viable option to save our pension plan, our jobs, maybe put the hard work ethic back into our jobs. Especially when we all own a piece of the pie. Then instead of the big bosses getting huge, huge bonuses. We could set it up where twice a year if we perform well we all get a lump sum bonus twice a year. Something has to be done regardless, Iv'e done wrote the pension plan as never going to be there! Why because CS told us how well it was then lied to us. Its my understanding they already pissed off the billions from UPS, before the stock market took a downward turn.:TR10driving03:
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Harley Davidson is employee owned. I actually heard a guy discussing this as a viable option to save our pension plan, our jobs, maybe put the hard work ethic back into our jobs. Especially when we all own a piece of the pie. Then instead of the big bosses getting huge, huge bonuses. We could set it up where twice a year if we perform well we all get a lump sum bonus twice a year. Something has to be done regardless, Iv'e done wrote the pension plan as never going to be there! Why because CS told us how well it was then lied to us. Its my understanding they already pissed off the billions from UPS, before the stock market took a downward turn.:TR10driving03:
$5.3 BILLION to be exact in the 1st 9 months of 2008...they had the money 66% in stocks!.....they should of had no more than 30-40% in stocks during this type of economy and the rest in bonds and T-notes....a little and safe return is better than none!.....kk
Yep I knew I had heard we have lost a large sum of money in the pension even before the market problems. This may not go over well but id rather YRC pay me weekly the money they contribute to the pension plan. Let me invest it. Id retire a millionare. I think i know better what to do with my money. Just Like my ex, Bought the exact same Blue Cross Team Care plan for $210.00 a month. YRC pays what something like $983.00 a month to cover me and my kids. I checked with blue cross I can buy the same plan for $317.00 a month. (To cover me and two kids).YRC, give us the $983.00!!! These are facts. This is why we see Unions struggling. Where making our officials rich and paying for they're retirement.
You and your family are healthy. My family is too, but others are not so fortunate. Their rates would be much higher. My brother is paying $600 a month and he is 30. He has mental and other minor health problems. I do not understand why it is necessary to employ 70 people at the fund when all we have is Blue Cross anyways.Yep I knew I had heard we have lost a large sum of money in the pension even before the market problems. This may not go over well but id rather YRC pay me weekly the money they contribute to the pension plan. Let me invest it. Id retire a millionare. I think i know better what to do with my money. Just Like my ex, Bought the exact same Blue Cross Team Care plan for $210.00 a month. YRC pays what something like $983.00 a month to cover me and my kids. I checked with blue cross I can buy the same plan for $317.00 a month. (To cover me and two kids).YRC, give us the $983.00!!! These are facts. This is why we see Unions struggling. Where making our officials rich and paying for they're retirement.
I do believe I could invest the pension money better. The pension is allowed to take a riskier approach since they are down so much. This may or may not work in the short term.
Honestly, I think there is corruption. somewhere. I honestly dont know where it is. I don't know if you have listened to Dave Ramsey. However if our union had invested are fund truthfully and in honesty. to benifit us we would get alot more than 2500 a month or whatever it is i cant keep track! With the amount. YRC pays in under daves plan we would get 30,000 a month after 30 years. WTF. I heard we pay millions just for investment advice. A month... I think the plan is bust.
Double-Clutch
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Is it down or lost, big difference?
It is only lost if they sold the stocks.
It is down if they still have the shares, they can rebound hopefully at some point.
Who isn't down at this point?
If you can't trust Goldman Sachs or Northern Trust I don't know who you look to for investment advice? I don't like their allocations, but thats the Feds that are allowing this.
As we were sitting around the Oak Harbor burn barrel the other night the conversation turned to YRC. One of the old timers chimed in with "YRC stock is so low the homeless people are buying it. Same thing happened at CF right before they closed too."
I do hope for everyones sake they can pull it out of the toilet.
Ed, The wooden shoes have dry rot.
HiwayHombre
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ESOP?...hahahaha....
Employer
Siphoning
Off
Payroll
That's what ESOP really stands for...
I don't buy fuel for their trucks and I don't pay any of their tolls... And I'm not going to pay them to keep a job...
I've done my part, to the best of my ability, by remaining compliant, moving the freight and taking care of their equipment while it is in my possession. If they're not going to hold up their end of the bargain to run this company efficiently and keep it solvent, then I guess one of us has not done our best...
They won't be the first to exit this way... And they won't be the last, either...
Yellow has 57.3 million shares outstanding. Even if youget them all at say three dollars a share that about $172 million. But the union would also assume over a billion dollars in debt. I try to remain optimistic but at this point I don't know if anything can save us. We are suffering from years of inefficent operation and poor management that you can get away with in good economic times but is now gonna bite us in the butt. The only other example of employees taking ownership of a company on this scale that I can think of is Weirton Steel. It worked all right for about twenty years before they found themselves in bankruptcy court again, got bought out by a venture capitalist, retirees lost most their benfits and the mill went from being a fully integrated mill to having just a tin plating line.
drag racer
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sounds real stupid
cant believe you attacked longblade in his post about health ins. these ideas are real stupid . face it we hit the iceburg and are starting to take on water.
cant believe you attacked longblade in his post about health ins. these ideas are real stupid . face it we hit the iceburg and are starting to take on water.