death wish? get your bonuses now

Discussion in 'YRC Freight' started by werbankrupt, Apr 20, 2017.

  1. werbankrupt

    werbankrupt Active Member

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    YRC stole our wages and retirement to pay execs and mangers big bonuses, now steal our wages and retirement to give it to new hires and casuals.
    does welch have satan as an advisor ,asking"how do I destroy what's left of morale, how do I further devalue my long term employees?'
     
  2. mysticobra

    mysticobra Just here.

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    Well you asked. What do you do next as a company.
    Shut down.
    They are in desperate mode.
    The writing is on the wall.
     
  3. jimmy g

    jimmy g Kook

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    Sounds like you studied Karl Marx's 'Manifesto on Communism'.
    Chapter I. Bourgeois and Proletarians
    The Rich had nothing, except they stole the wealth of the Poor....

    'Workers of the World,- Unite!'

    www.marxists.org/archive/marx/works/1848/communist-manifesto/ch01.htm
     
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  4. albag

    albag Pray for peace!

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  5. Joesnow

    Joesnow Member

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  6. Joesnow

    Joesnow Member

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    YRC will close just a matter of time, old junk trucks, old drivers, poorly ran, seen it with lots of companies get ready boys, get a plan ready got to go on with life.
     
  7. the5tolls

    the5tolls I hope we make it to 19....got my NO ready

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    I do not know if it is true but I heard that the sky was falling also! It could be just a rumor but I would keep one up in the sky the next couple weeks just to be on the safe side!
     
  8. werbankrupt

    werbankrupt Active Member

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    komrade, you like you fat bonus. I no like my 15% to pay bonus,
    yes, read the manifest, constitution, mein kampf lao Tzu, etc
     
  9. PAS52

    PAS52 New Member

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    If YRC was ever going to close and possibly go bankrupt, then why would the big financial bankers loan YRC so much money to a sinking company?
     
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  10. BIG R GUY

    BIG R GUY COOP Dispatch GPS Division

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    If you have been around this company very long,you would know that Zollars borrowed almost a billion in 2003 to buy Roadway,and borrowed another billion in 2005 to buy the USF group of carriers.. The long term debt is what they have been carrying for the last 12 years and paying millions in interest on.
     
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  11. the5tolls

    the5tolls I hope we make it to 19....got my NO ready

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    I believe what PAS52 means when he said that was why would the banks refinance the debt, not borrow them the money, although a refinance is really borrowing money so I guess he said it correctly and Big R just interpreted it wrong maybe? It sure did seem like I assumed a whole bunch in that statement!
     
  12. Rodeo

    Rodeo Active Member

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  13. Rodeo

    Rodeo Active Member

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  14. vongrimmenstein

    vongrimmenstein Well-Known Member

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    If you can collect millions in intrest, keep the company afloat without loaning it any more money, why would you call the note? The actual money loaned has been written off. They got their tax break for the money they loaned & have been raking in the interest ever sense. Sure, the people holding the note on the money that was loaned can call the note anytime. But why, when you are making a killing in interest paid all these years? Whoever has the paper for the YRC debit does not want to call the note while racking in a bundle of interest. If the cost to service the loan starts to exceed the interest income, then watch for the doors to close. von.
     
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  15. Triplex

    Triplex Experienced stalker

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    Where do you get the idea that the principal has been "written off"? Investment banks don't lend money with the intention of never getting back the principal amount of the loan or they wouldn't be in business very long.
     
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  16. joes bar and grill

    joes bar and grill Well-Known Member

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    Because they are charging credit card rates.
     
  17. BIG R GUY

    BIG R GUY COOP Dispatch GPS Division

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    Maybe yrc "leased" the principal too??
     
  18. Griz

    Griz Well-Known Member

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    Don't know about the rest of you all but I've been getting ready for the last nine years. These issues just didn't begin. In Memphis we've lost 3 drivers the last few years to UPS FEEDER. None to any non union companies.
     
  19. 511monkey

    511monkey Member

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    Eventually, inflation will wash all these problems away.
     
  20. Elwood

    Elwood Question Authority

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    ?
     

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