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Yellow | Dear fellow employee:

albag said:
Thanks, Jeff. Although missteps is inappropriate, reckless disregard is what it was.
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I'm reminded of AIG and General Motors when they got their bailouts. There was an uproar when the General Motors executives arrived in DC on private jets looking for government money and AIG executives that were spending on lavish vacations for their employees after receiving taxpayer funds. I feel that we are in the same boat. We're not talking about tax dollars we are talking about our money our dollars ,that we, sacrificed ,and, had a reasonable expectation that those monies would be handled responsibly!

For the record there have been "missteps" post 2011 as well.

Thanks again Jeff!
 
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Just out of curiousity, does anyone have the numbers on how much Welch, Rogers, Skarka, and the other hotshots got paid last year?
 
At least this Welch guy is giving us some lube. That's the only positive thing I can think of. I wonder how much money was spent on said lube.
 
If they want to refinance and extend the contract, they need to give us something back. Remember, this is the same company that agreed to "equal sacrifice", then found a way to give stupidvisors money AND vacation back. I'll take 5% upfront, my 15 minute break back, and my vacation back.....
 
cracker said:
Welch said they might refinance.He's not even sure, this place could be toast any day.......
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Well, everybody ain't broke...and some of these billionaire investors are going to put up the capital to keep it rolling in my opinion. It's chump change for Buffett, Soros and the like. It is a huge enterprise, with a big chunk of market share and some of the best professional driver's in the business. I say give them some more time...but they can spend their own DAMN money! And they will, cause it's a bargain....Tell the Union they can have more time, but the Billionaires can sacrifice this go round....if they were ready to ring it up, they would just close it down.....Good Luck!
 
bubbadog121 said:
If bankruptcy were to happen in what pecking order do lenders get paid?
And don't we qualify as lenders after all?
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I am not sure how the judge would determine who gets paid first but I can tell you first hand that stock holders don't count for anything in that process. See, stockholders are the owners and the owners get paid last, which means nothing in the event of a bankruptcy in which you know nothing will be left over.

The big question is...what will happen to truckingboards if YRC goes bankrupt? Will it be forced to merge with another board to survive? Will Jeff borrow money to buy one or more for their customer base? So many questions and so few answers.
 
ABFer said:
I am not sure how the judge would determine who gets paid first but I can tell you first hand that stock holders don't count for anything in that process. See, stockholders are the owners and the owners get paid last, which means nothing in the event of a bankruptcy in which you know nothing will be left over.

The big question is...what will happen to truckingboards if YRC goes bankrupt? Will it be forced to merge with another board to survive? Will Jeff borrow money to buy one or more for their customer base? So many questions and so few answers.
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Can we all come over and hang out on the ABF forum?
 
Wrench97 said:
Employees get paid first(Ok second after the IRS), lenders last I would want to keep my name off the lenders list................
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Ask CF Teamsters how long it took them to get their money that was owed just in back wages and vacation....KK

 
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