What's new

ABF | Did ABF Leak The YRC Story To Scare Teamsters?

go4gold said:
There are SEC rules for the responsibilities of the Board, the acquiring company and the takeover target in communicating in a timely manner with the public in the case of a tender offer. Any information coming out of corporate is going to go through legal. It is there responsibility to get it right. All of this information is available at the SEC. A lot of things were changed on SEC filings in 2000. As far as insider trading on this information by executives, that is easy to find. Executives have to declare to the SEC when they make purchases or sales of company securities . Check sec.gov for any recent insider trading activity. I doubt you will find any. Also, don't be fooled by any stock that might have been bought for the executives by the company in lieu of salary. The Yellow offer has been denied at this time by ABFS. If Yellow wants to start a hostile takeover they could already be acquiring stock on the open market with borrowed money. ABFS stock has been under heavy accumulation since November. Yellow would not have to declare their ownership to the SEC until they reach 5% ownership. By the time they have to report, they can acquire much more than 5%. I'm sure Yellow would prefer to buy ABFS through a stock deal where they would only have to take on the ABFS debt. You might want to check a 10-K filed with the SEC to see if ABFS has a poison pill process in case of a hostile takeover bid. A caged animal like Yellow will do whatever they have to do to survive.
Click to expand...
Thank you for that information.
 
Before a tentative contract with cost concessions was agreed to, the market was telling you ABFS was only worth roughly $11 a share or tangible book value. The Yellow offer of $18 was roughly 1.5 times tangible book value. Current enterprise value is $18.67. They were in the ballpark with their offer considering ABFS's current labor contract and an unprofitable company. Yellow knows ABFS needs significant cost reduction either through labor or large operational cuts (or both) to be an ongoing entity to compete with non-union trucking. You should be concerned that Welch visited ABFS 9 days before the current contract was set to expire. The buyout of ABFS is much better for Yellow if ABFS doesn't have a labor contract, IMHO.
 
The one thing the teamsters don't seem to be coming to grips with is that union trucking is dying a little bit everyday and has been for 25 years. Since 2006, Yellow has lost $4.5 billion dollars in sales. You would think, ABFS would have picked up a portion of that business but that hasn't been the case. In fact, trucking sales were lower at ABF last year than they were in 2008 which was the last year ABFS had any sizable earnings. Take into consideration inflation over the last 4 years and you have negative growth in the ABF trucking division. Hmmm....wonder where all of that business went? Non-union trucking, perhaps? Stand on a box, pound your chest and declare to the world that you absolutely, under no circumstances are going to vote for any concessions and you only speed your union demise. There are some on this board that hate how much money they make, and hate how much more other people make. They hate being away from home and they hate any kind of management. Maybe those people need to become free agents and utilize their skills in other lines of work to improve their outlook on life and be happy. You never know there are opportunities born everyday that may lead to financial security!
 
AkitaDog said:
Mr.Welch already said he won't pursue a hostile take over if ABF isn't willing to sell!
Click to expand...
I like hearing that, didn't see it yet myself but I don't buy into much that those guys would say. What I saw was more like he wasn't going to take 'no' for an answer.
 
go4gold said:
The one thing the teamsters don't seem to be coming to grips with is that union trucking is dying a little bit everyday and has been for 25 years. Since 2006, Yellow has lost $4.5 billion dollars in sales. You would think, ABFS would have picked up a portion of that business but that hasn't been the case. In fact, trucking sales were lower at ABF last year than they were in 2008 which was the last year ABFS had any sizable earnings. Take into consideration inflation over the last 4 years and you have negative growth in the ABF trucking division. Hmmm....wonder where all of that business went? Non-union trucking, perhaps? Stand on a box, pound your chest and declare to the world that you absolutely, under no circumstances are going to vote for any concessions and you only speed your union demise. There are some on this board that hate how much money they make, and hate how much more other people make. They hate being away from home and they hate any kind of management. Maybe those people need to become free agents and utilize their skills in other lines of work to improve their outlook on life and be happy. You never know there are opportunities born everyday that may lead to financial security!
Click to expand...
they can come over here to conway for a while and I guarantee they'll be begging for their abf job back. We don't get to vote over here. What u see is what u get. Dint like it, then goodbye . We don't need ya
 
AkitaDog said:
Mr.Welch already said he won't pursue a hostile take over if ABF isn't willing to sell!
Click to expand...

And we all know how truthful these YRCW crooks are, What he said was, "The company isn’t interested in making a hostile bid." He did not say they would NOT make one, they just were not interested today. Kind of a subtle threat, to me. Boys and Girls, we all need to seriously consider this agreement. I know it is going to be concessionary in different ways, but, a ratified agreement, should push our stock up out of the vultures reach. If we ratify this, YRCW is going to have to pony up full pension in 2015, and that will cool their jets!
 
AkitaDog said:
Mr.Welch already said he won't pursue a hostile take over if ABF isn't willing to sell!
Click to expand...
I dont know how long you guys have been around but back in the early 90s an investor group realized ABF stock was far under valued compared to its assets.They launched a hostile takeover with the intent of shutting down operations and selling the assets at supposedly a large profit.
Robert Young figured out what was going on and started buying stock.As it is told he begged borrowed and scraped together every penny he could including mortgaging his house.And part of this is the mysterious White Knight who stepped in after all avenues of finance were tapped out and lent him enough money to acquire 51% of the stock. If this outfit is going down the tubes I doubt it is possible by hostile means.I am sure he has maintained his % of stock to hold control of the company.If anything happens you can rest assured that no matter what Roy or Judy or anyone else think it will only happen with the approval of Robert Young
 
Rollin62 said:
they can come over here to conway for a while and I guarantee they'll be begging for their abf job back. We don't get to vote over here. What u see is what u get. Dint like it, then goodbye . We don't need ya
Click to expand...
Hey Rollin do they have earplugs over there? I get all the bitchin I can stand at home.
 
stickman said:
I dont know how long you guys have been around but back in the early 90s an investor group realized ABF stock was far under valued compared to its assets.They launched a hostile takeover with the intent of shutting down operations and selling the assets at supposedly a large profit.
Robert Young figured out what was going on and started buying stock.As it is told he begged borrowed and scraped together every penny he could including mortgaging his house.And part of this is the mysterious White Knight who stepped in after all avenues of finance were tapped out and lent him enough money to acquire 51% of the stock. If this outfit is going down the tubes I doubt it is possible by hostile means.I am sure he has maintained his % of stock to hold control of the company.If anything happens you can rest assured that no matter what Roy or Judy or anyone else think it will only happen with the approval of Robert Young
Click to expand...
My understanding is similar to yours with a couple of differences. 1) It was mid to late 1980's, 2) Kelso was the company that worked with Robert Young III, 3) I believe they bought all the stock off the market and 4) When ABF went public again in the 1990's the Youngs kept 51% (controlling interest) of the stock. Whether or not they still own 51% is a question in my mind but others have told me that it is no longer the case. Maybe go4gold can give us that info as he seems to be pretty brushed up on ABFS.
 
Yes turncoat.Any company can buy ABF.Even YRCW could attempt to buy ABF.If YRCW buys ABF(theory)That would cause some major lawsuits not including ABFs lawsuit to be facilitated.A major mess.Hurting both companies.So do I think that Welch and McReynolds made this public to leverage the rank and file to accept the contract offer?Absolutely.
 
ABFer said:
My understanding is similar to yours with a couple of differences. 1) It was mid to late 1980's, 2) Kelso was the company that worked with Robert Young III, 3) I believe they bought all the stock off the market and 4) When ABF went public again in the 1990's the Youngs kept 51% (controlling interest) of the stock. Whether or not they still own 51% is a question in my mind but others have told me that it is no longer the case. Maybe go4gold can give us that info as he seems to be pretty brushed up on ABFS.
Click to expand...
The Youngs no longer own 51% This company is institutionally owned: ABFS Major Holders | Arkansas Best Corporation Stock - Yahoo! Finance
 
bigtruk_us said:
Yes turncoat.Any company can buy ABF.Even YRCW could attempt to buy ABF.If YRCW buys ABF(theory)That would cause some major lawsuits not including ABFs lawsuit to be facilitated.A major mess.Hurting both companies.So do I think that Welch and McReynolds made this public to leverage the rank and file to accept the contract offer?Absolutely.
Click to expand...
I can't say that I think you're wrong, you could very well be right on the money and there is a lot at stake here. If that is the case then a labor charge and full investigation would be in order.
 
go4gold said:
There are SEC rules for the responsibilities of the Board, the acquiring company and the takeover target in communicating in a timely manner with the public in the case of a tender offer. Any information coming out of corporate is going to go through legal. It is there responsibility to get it right. All of this information is available at the SEC. A lot of things were changed on SEC filings in 2000. As far as insider trading on this information by executives, that is easy to find. Executives have to declare to the SEC when they make purchases or sales of company securities . Check sec.gov for any recent insider trading activity. I doubt you will find any. Also, don't be fooled by any stock that might have been bought for the executives by the company in lieu of salary. The Yellow offer has been denied at this time by ABFS. If Yellow wants to start a hostile takeover they could already be acquiring stock on the open market with borrowed money. ABFS stock has been under heavy accumulation since November. Yellow would not have to declare their ownership to the SEC until they reach 5% ownership. By the time they have to report, they can acquire much more than 5%. I'm sure Yellow would prefer to buy ABFS through a stock deal where they would only have to take on the ABFS debt. You might want to check a 10-K filed with the SEC to see if ABFS has a poison pill process in case of a hostile takeover bid. A caged animal like Yellow will do whatever they have to do to survive.
Click to expand...

According to filings with the SEC on 4/30/13, both Ms. McReynolds and Mr. Slagle Bought over 6,000 shares of ABFS stock. I believe it was a Form 4 filing with the SEC. 3,027 shares for Ms. McReynolds, and 3,128 shares for Mr. Slagle. I believe the offer from Mr. Welch was made 4/22/2013. According to the filing, Mr. Slagle acquired 48,196 shares prior to 4/29/2013 in numerous purchases. As Go4Gold said, all this is listed as public knowledge. They have to post their purchases and other transactions. Of course .....at the time, no one had known of the offer Mr. Welch had made. That wasn't made public until it was.....ahem,...."leaked" to DCVelocity on the day of the ABC corp. shareholders' meeting. Yes, Go4Gold, the Unionized element, in your opinion,.... has had it's day, and is outmoded. But it's nice to see our business leaders return to the old-timey ways of the Robber Baron days, when insider trading was as common as mistreating the hired help. But...we have a new name for our Business Captains, nowadays. They're no longer Robber Barons,......they're Weasel Barons. Same people,...same type of methods,...only thing is you got to go through a layer of lawyers to get to them. The Robber Barons were thought to be invincible in their day, Go4Gold. Was it organized Labor that eventually brought them down? Are you telling us the Weasel Barons are invincible, now? That the Unionized segment of trucking is no longer viable in the business world, and we should bow our heads and accept the inevitable pay cuts, benefit cuts, and ...of course....loss of dignity, and sense of pride.......because there's no dollar value attached to them, therefore they are worthless?
 
Rollin62 said:
they can come over here to conway for a while and I guarantee they'll be begging for their abf job back. We don't get to vote over here. What u see is what u get. Dint like it, then goodbye . We don't need ya
Click to expand...
Well, then Rollin62, you must've made quite a few accomodations in your life to stay with Conway. Obviously you don't like your employers,.....but apparently they've got you in economic slavery, because you can't leave. And how well you must hide your distaste from your employers! They haven't fired you.......maybe they even like you. Be Careful! ...If that paper bag ever falls off, and your identity becomes known to your employer,.....I shudder to think how much crawling and wallowing on the carpet you'll have to do just to keep your job!
 
canaryinthemine said:
Well, then Rollin62, you must've made quite a few accomodations in your life to stay with Conway. Obviously you don't like your employers,.....but apparently they've got you in economic slavery, because you can't leave. And how well you must hide your distaste from your employers! They haven't fired you.......maybe they even like you. Be Careful! ...If that paper bag ever falls off, and your identity becomes known to your employer,.....I shudder to think how much crawling and wallowing on the carpet you'll have to do just to keep your job!
Click to expand...

Don't worry, I got an extra paper bag for you after you vote no and welch swallows Up the bull frog. What do you prefer paper or plastic? Or your seniority may get you 15% pay cut with 25% pension contribution. This vote is a no brainier. You guys are too funny
 
You must log in or register to reply here.
Top