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Yellow | Curiosity from a none educated guy

SuperCourse said:
Zollars made an offer to Roadway no stockholder could refuse. Nearly a 50% premium to the stock price. Roadway was not being shopped around, it was not for sale., but that's how it works when you got an idiot with a credit card.
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That is a fact. Yellow Corporation's acquisition of Roadway Corporation was through an UNSOLICITED offer. Accomplished with borrowed money. The lenders recognized that the assets of Roadway were more than adequate to secure the loan. Yellow did not have a "pot to **** in".
 
ABF381 said:
They could be....I mean they have all these asset light companies....but they aren't making enough on them yet, but when they do start making enough I'm sure it will be looked into....maybe if we just asked for less we would be saved? Or will it accelerate them closing union freight? Hmm during all these concessionary contracts they have grown asset light considerably, so I think I know the answer...
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Exactly ABF381, great post,anyone with intelligence or critical thinking skills knows the answer,and you know what,''it's business,not personal''.It's their 'bat and ball'.I would tell guys for years,ABF makes money,we make money,that simple,had certain guys tell me through the years,ABF needs guys like you so guys like me can take it easy,I would just smile.I worked with guys for years who worked harder trying not to work,and if they just did their job,things would run a lot smoother and less headache.If management let a guy sit for 3 hours doing a tops hour and a half drop and hook,that's none of my business,but you think they don't know that,in this day and age of technology...Growing asset light companies?.Of course they are,as a union member and Teamster,do I like it?,of course not.Once again,''it's business,not personal''.And if Judy McReynolds came on TB spewing all the corporate talking points that Blade spews every day,I would tip my hat and ''respect''what she had to say from her corporate point of view,debating back and forth,our union working class point of view.And that's what I absolutely can't stomach about Blade,he's not corporate,he's working class(so he claims),yet he spews their corporate talking points with every post of is.And I disdain the fact that he's nothing more then a ******* corporate ''FLUNKY''!!!!
 
ABF381 said:
They could be....I mean they have all these asset light companies....but they aren't making enough on them yet, but when they do start making enough I'm sure it will be looked into....maybe if we just asked for less we would be saved? Or will it accelerate them closing union freight? Hmm during all these concessionary contracts they have grown asset light considerably, so I think I know the answer...
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Why would dare think without consulting RB? :1036316054:
 
truckerx said:
These decisions would go through a board of directors first. Large shareholders can appoint board members. The average stock holder doesn’t get a say in every decision.
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Nope. If shareholders (owners) sell their their shares to a prospective buyer the BOD has no power to stop them. BOD can recommend the shareholders don't sell but that's all they can do. And while it's true that large block shareholders (owners) have more say in the matter, as long as a majority of shareholders agree to sell that's it.
 
OnPoint44 said:
i think before all the trouble began the only possible way for things to go right was to spin off either Holland or New Penn. However, that would be going against Zollar's ultimate plan of integrating all of us into one mega carrier. the shareholders, for all the $ they had they couldn't afford buy brains, backed this plan. even if the rumor of New Penn VPs trying to buy the company back from Zollars were true, i don't think he would've sold. Zollars liked NP. i believe the initial offer before buying Roadway was just to acquire NP alone. is that part true ? i got hired right after 9/11 took place and alot of the old timers were running with that when i arrived
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I don’t know if thats true or not, We we’re always told the deal was for Roadway and when they got that NP and Reimer were part of it because Roadway owned both.

Roadway never interfered in the New Penn operation, For us working there it was as if the company never changed hands.

Until Yeller got it.
 
Keepingon said:
I don’t know if thats true or not, We we’re always told the deal was for Roadway and when they got that NP and Reimer were part of it because Roadway owned both.

Roadway never interfered in the New Penn operation, For us working there it was as if the company never changed hands.

Until Yeller got it.
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I agree. The Roadway/New Penn relationship effected no one. Everyone seemed fine with it
 
steercrazee said:
Just reading these forums for a while and had a thought. Why didnt Yellow just sell off Holland and what ever other company they purchase.to get some funds to pay off debt? Just perhaps they might still be a float if they did. Im sure someone would have bought them.
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I think it's a good question. Other than Yellow no company will purchase a Teamster NMFA company due to the pension liability. Thus Holland or whoever, was useless to any company other than Yellow.
My guess is Zollars thought the economies of scale would benefit Yellow, he never realized the impossibility of merging multiple teamster companies into one. That has never occurred successfully before.
He should have spun off Holland & New Penn as debt free companies and just kept the long haul businesses. Then concentrated only on that until it made a profit.
But no matter Sean O'Brien was hell bent on puting Yellow out of business.. He refused to listen, work or even deal with management to save 30,000 jobs.
The tough guy teamster won....
 
Keepingon said:
When Yellow bought Roadway they got New Penn, Which Roadway kept as a separately run company the New Penn VP’s got together to try to buy New Penn but the Pension liability prevented It.
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Excellent point, why take on that debt.
Besides SOB would have put them out of business as well.
 
Puff Driver said:
I think it's a good question. Other than Yellow no company will purchase a Teamster NMFA company due to the pension liability. Thus Holland or whoever, was useless to any company other than Yellow.
My guess is Zollars thought the economies of scale would benefit Yellow, he never realized the impossibility of merging multiple teamster companies into one. That has never occurred successfully before.
He should have spun off Holland & New Penn as debt free companies and just kept the long haul businesses. Then concentrated only on that until it made a profit.
But no matter Sean O'Brien was hell bent on puting Yellow out of business.. He refused to listen, work or even deal with management to save 30,000 jobs.
The tough guy teamster won....
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Do you think just maybe they were all tied in with their loans?
 
Keepingon said:
He came to NP when they bought the APA customer list when they went out.
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Did they sell or go BK?

I wondered what happened to APA. Used to interline all of their CA shipments with one of my previous employers. 88th street in North Bergen NJ. I can still recall their old phone number 201-869-6600. Hadn't done business with them since 1990ish.
 
skullcramp said:
You have a remarkable ability to put lipstick on a pig. My compliments sir.
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He must have missed the memo. EVERY operating subsidiary was cross collateralize. The assets of each company secured the loans for the rest. He is seriously mistaken as far as the Roadway Corporation acquisition is concerned. Roadway was not for sale, Yellow Corporation made tender offer. :duh:
 
Puff Driver said:
I think it's a good question. Other than Yellow no company will purchase a Teamster NMFA company due to the pension liability. Thus Holland or whoever, was useless to any company other than Yellow.
My guess is Zollars thought the economies of scale would benefit Yellow, he never realized the impossibility of merging multiple teamster companies into one. That has never occurred successfully before.
He should have spun off Holland & New Penn as debt free companies and just kept the long haul businesses. Then concentrated only on that until it made a profit.
But no matter Sean O'Brien was hell bent on puting Yellow out of business.. He refused to listen, work or even deal with management to save 30,000 jobs.
The tough guy teamster won....
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It rained hard here today causing some flooding....we lost power for a bit.....do you think the Teamsters or maybe even O'Brien were at fault?
 
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