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Yellow | Dear fellow employee:

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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LOL....that one made my day....LOL....You must never get out and look around at the other forums and information on here.....YRC would just be added to the bone yard forum, as was others....KK
 
Kennesaw Kid said:
LOL....that one made my day....LOL....You must never get out and look around at the other forums and information on here.....YRC would just be added to the bone yard forum, as was others....KK
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I thought we were already in the boneyard?
 
A 2 year or a 5 year extension will not help at all as long as management stays STUCK ON STUPID...many are still geographically challenged when it comes to coordinating a run and/or utilizing a driver's hours..run a driver 4 hours and put him to bed....no tractors because of this practice...LONG delays at Linehaul waiting on power and/or hook.....until that changes, no number of extensions will help!.....KK
 
cracker said:
Welch said they might refinance.He's not even sure, this place could be toast any day.......
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The bottom line is if the company does not refinance, it's over. Ever heard of an LTL company going through a court bankruptcy and continuing to operate? IMO opinion they are sending this letter because they have already had talks with lenders who have told them what they would expect in terms of an extension to throw more cash our way. Oh, and don't forget all those phone calls employees received from the company- those were to see just how much more (if any), they could get from us in a new deal. Finally, this whole soap opera will play out around the holidays when people are most likely to be willing to vote in favor of a new deal.....
 
herecomesruby said:
The bottom line is if the company does not refinance, it's over. Ever heard of an LTL company going through a court bankruptcy and continuing to operate? IMO opinion they are sending this letter because they have already had talks with lenders who have told them what they would expect in terms of an extension to throw more cash our way. Oh, and don't forget all those phone calls employees received from the company- those were to see just how much more (if any), they could get from us in a new deal. Finally, this whole soap opera will play out around the holidays when people are most likely to be willing to vote in favor of a new deal.....
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Why don't they just sell Holland, Reddaway, New Penn, Wouldn't that give them the money they need???
 
Kennesaw Kid said:
LOL....that one made my day....LOL....You must never get out and look around at the other forums and information on here.....YRC would just be added to the bone yard forum, as was others....KK
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OOOO I get out plenty and just because I don't say anything doesn't mean I'm not seeing!!!! This is one of the most active forums on here and those boneyards don't get much action. Gotta keep those clicks coming. :D
 
Wrench97 said:
They can't sell Holland nobody will buy a company that has liability in the pension funds.
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Holland and New Penn both make money. Don't you think the IBT could/would come up with some creative way to keep them operating if a prospective buyer stepped onto the scene? I think they would.
 
Skeeter said:
Why don't they just sell Holland, Reddaway, New Penn, Wouldn't that give them the money they need???
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Hmmmm...Why don't they just close YRC freight and then the others will be even more profitable?...Yeah, that's what I thought....it aint that easy is it?.....KK
 
Just wondering if this letter could be part of trying to comply with the Warn act? When CF closed we got money because they hadn't given proper notice when they knew closing was almost certain. I'm sure YRC has looked closely at the CF situation and learned much from that. (None of which would be good for the union employees)
 
Skeeter said:
Why don't they just sell Holland, Reddaway, New Penn, Wouldn't that give them the money they need???
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Someone correct me if I am wrong, please. But I still think that a-hole zollars had this financial mess all tied together as YRCW for being able to borrow any money as I am sure the banks also see which companies actually turn a profit, and that means if 1 is sold, they all must be sold. I do not belive they can sell off the regionals, and use the proceeds to payoff YRC's debt. I see it as the regionals are just keeping YRC alive as it is. Anymore than shutting YRC down, and keeping the regionals. The debt is still there. All part of YRCW.
 
If selling off the regionals would actually pay off the debt the banks would be all for it. Problem is after selling them the left over debt would be more then YRC is presently worth or have any chance of paying off.
 
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