Ok so we are broke ?? BUT wait a minute , did'nt Welch try to buy/merge ABF a few months ago ??? so where was that money to come from ??? something fishy here with the numbers game playing ???
Relax wrongway! Teamster appointed YRCW Board member Harry Wilson is feverishly working behind the scenes to complete that deal so he and his firm MAEVA get that $5 million dollar completeion bonus! Stay tuned!
The only thing that's going to bought is YRC's customer list by ABF when they finally put this pig out of its misery!
You are correct . ABF owns everything & unlike YRC has little debt. The real estate along is worth more than the offer made on the stock. It would be no problem to find an investor for the purchase. The lender/investor would easily make a profit.Harry Wilson had loan approved for yrc to purchase and in return they would of consolidated terminals and sold remaining ones off, updated equipment, scrap the rest. Few thousand workers would of lost jobs too. That's how they would repaid loan back. Synergies