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Yellow | death wish? get your bonuses now

werbankrupt said:
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?'
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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
 
Joesnow said:
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.
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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!
 
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?
 
PAS52 said:
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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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.
 
BIG R GUY said:
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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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!
 
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.
 
vongrimmenstein said:
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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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.
 
the5tolls said:
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!
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Because they are charging credit card rates.
 
the5tolls said:
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!
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the5tolls said:
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!
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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.
 
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