CSPF EXTENDS YRC’S $100M DEBT TILL 2019

Discussion in 'YRC Freight' started by Kennesaw Kid, Jul 14, 2017.

  1. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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  2. Elwood

    Elwood Question Authority

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  3. flat top

    flat top Active Member

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  4. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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    READ.....What the hell did I say?
    Never forget....of course it was 3 years ago....the payment is due in 29 months, and too many numbnuts on here forget what happened 1 year....SMH....KK
     
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  5. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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    Please stay on topic....KK
     
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  6. yrc-atm

    yrc-atm commodities relocator

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    They will NEVER pay this debt. They havent paid down the banks debt in 8 years. Yrc went thru a bankruptcy without having to file it. CSPF will not get one dime of that money from this pos company. They have no intention on even trying.
     
  7. falconfan

    falconfan Well-Known Member

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    The only way they could pay is to borrow.Maybe the lenders will let them tack on another 100 million to our existing debt while extending the maturity date.
     
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  8. Triplex

    Triplex Experienced stalker

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    FYI, they've paid down almost 25% of the LT debt as of Q1 of 2016...

    [​IMG]

    [​IMG]
     
  9. havinsomefun

    havinsomefun Member

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  10. wongway

    wongway -15% Pay & Broke Pension Fund

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    [​IMG]Kinda like the man & dog working together ,Its the Union & YRCW working together to herd the YES sheep !!
     
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  11. wongway

    wongway -15% Pay & Broke Pension Fund

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    Not good at math ,but I don't come up with 25% ? and our -15% and lost week's vac. time and pension payments they didn't make should have give them enough money to pay down the whole amount , if Welch & his buddy's had taken a -15% pay cut too ! Sorry have to disagree and think most Driver's wanting a FULL pension will disagree too ??
     
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  12. yrc-atm

    yrc-atm commodities relocator

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    8 years and $900 million in concessions and they paid just $300 million in debt? NOT impressed one bit. And it goes back to what I said, they will NOT pay CSPF one dime of what they owe them.
     
  13. Triplex

    Triplex Experienced stalker

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    Couldn't care less whether you're impressed or not, just correcting the inaccuracy of your earlier post, that's all. Nothing personal. :smile new:
     
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  14. Triplex

    Triplex Experienced stalker

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  15. Freightmaster1

    Freightmaster1 Well-Known Member

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    As far as the Central States Pension Fund is concerned YRCW is still considered a "Distressed Employer" and probably figure they're lucky to get the $70.00 a week pension contribution out of Welch and his cronies!

    [​IMG]
    Why aren't these people just happy to have a job?! Can't they see that we're "distressed"?!
    :fingure:
     
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  16. mysticobra

    mysticobra Just here.

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    I just hope ya'll are saving while discussing this matter.
    Because that's what matters.
    Save yourself.
    :1sm057crazy:
     
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  17. yrc-atm

    yrc-atm commodities relocator

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    Thats why they need to dissolve the fund and let us use the funds towards our own retirement. Quit paying into a pit of no hope.
     
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  18. metalmikex

    metalmikex Member

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    YRC, lenders carve out deal to cut debt by $300 million
    Clearing a significant hurdle in its latest financial restructuring, YRC Worldwide says it has reached a debt-for-equity deal with lenders and other institutional investors to reduce its debt by about $300 million.

    http://www.logisticsmgmt.com/article/yrc_lenders_carve_out_deal_to_cut_debt_by_300_million
     
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  19. TC1

    TC1 Active Member

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    At that rate the debt will be payed down in 20 more years. Only 4-5 more MOU's! Something to look forward to. With no retirement, I might still be here.



     
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  20. yrc-atm

    yrc-atm commodities relocator

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    Ah. So they never even paid that part down. They just conned the banks into taking their worthless stock. Just like they did us.
     
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