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Yellow | Don't blame the union. Management is to blame to the extent of $1.32 billion per yr.

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WOP

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Most of YRCW’s problems are systematic. Management refuses to listen to their employees!!!! And each and every employee is an expert in the job he/she does. YRC refuses to recognize that fact. YRC management continues to….DICTATE DOWN. They refuse to… LISTEN UP. If they would learn to LISTEN UP to their employees, we (YRC) would be profitable, again.

Most employees I have spoken to (both management and union) agree that if management above them would just LISTEN to their ideas and suggestions, we (YRC) would be able to save ½ hour to 1 hour per day per employee of labor cost alone; this does not include operational costs such as fuel, oil, repair of equipment wear and tear, interest on our $1.4 billion of debt, etc.

This cost savings (not including non-labor operational costs) would contribute $1.32 billion to the bottom line of the company per year. LISTEN UP, that means that in one (1) year, practically all of our (YRC’s) long-term debt would be paid off and we would be debt free and profitable.

So don’t blame the union for management's inability to LISTEN (to employees--our most valuable assets) and return to profitability.
 
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i dont blame the union 100% but i would you say they really lack any serious effort to organize the trucking industry?? the pricing wars and concessions might not have been as severe if there was a bigger union presence
 
roadway77 said:
i dont blame the union 100% but i would you say they really lack any serious effort to organize the trucking industry?? the pricing wars and concessions might not have been as severe if there was a bigger union presence
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That is the major problem in LTL, the lack of UNIONIZED companies. We can't compete when the playing field is so uneven.
 
UPS seems to be doing just fine and there union, of course thou they have a good reputation in the marketplace and a solid brand were as no one even know who yrc is after all these years
 
the problem appears to be the balloon payment? You can blame whoever you want, but it's reality, which needs a solution....
 
Kingfishcafe said:
UPS seems to be doing just fine and there union, of course thou they have a good reputation in the marketplace and a solid brand were as no one even know who yrc is after all these years
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Are you talking UPS small package, or UPS Freight? With UPS small package there is no comparison but beware FedEx Ground is moving in. UPS Freight probably does not turn a profit but they don't disclose those numbers, they combine them overall and we cannot see what they are doing. Their rates are among the lowest in the industry and the driver's hourly rate is the highest. I do not know what their healthcare and pension cost them.
 
According to YRC: (recently reported by The Motley Fool)

YRC currently carries a "crushing debt of $1.4 billion -- nearly as much as all of our publicly traded competitors combined."
"This massive debt costs us $150 million in interest payments annually -- more than all our publicly traded competitors combined."
The company lost $152 million in 2012, lost "an additional $54 million" so far this year, and analysts predict a $50 million loss by year-end.
The $150.9 million it currently pays in annual interest exceeds the $92.6 million in interest obligations paid by "all [of its] competitors combined."

And about $396 million of debt matures next year and another $548 million is due in 2015, according to data compiled by Bloomberg. The company has posted annual losses since 2007.

So what is YRCW to do. Maybe the only solution is to issue more stock or create a different class of YRCW stock (maybe preferred stock or class B common) to eliminate the $1.4 billion of debt or the most timely demanding debt. Or maybe YRCW can issue bonds. The most significant problem with issuance of more stock or bonds is who will invest in them with YRCW's financial history.
 
WOP said:
According to YRC: (recently reported by The Motley Fool)

YRC currently carries a "crushing debt of $1.4 billion -- nearly as much as all of our publicly traded competitors combined."
"This massive debt costs us $150 million in interest payments annually -- more than all our publicly traded competitors combined."
The company lost $152 million in 2012, lost "an additional $54 million" so far this year, and analysts predict a $50 million loss by year-end.
The $150.9 million it currently pays in annual interest exceeds the $92.6 million in interest obligations paid by "all [of its] competitors combined."

And about $396 million of debt matures next year and another $548 million is due in 2015, according to data compiled by Bloomberg. The company has posted annual losses since 2007.

So what is YRCW to do. Maybe the only solution is to issue more stock or create a different class of YRCW stock (maybe preferred stock or class B common) to eliminate the $1.4 billion of debt or the most timely demanding debt. Or maybe YRCW can issue bonds. The most significant problem with issuance of more stock or bonds is who will invest in them with YRCW's financial history.
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I read the same article W. Thing I do not understand is why they compare our debt to all the other companies combined? I do not see what this has to do with YRC's problem? Every company carries debt. It is part of doing business. Our's was created by a handful of people, not knowing what the hell they were doing. Comparing us to the others is absurd.
 
Told at our general membership meeting company wants a 5 year deal but can't give any specifics on what they want, because company can't give specifics.
 
werbankrupt said:
Told at our general membership meeting company wants a 5 year deal but can't give any specifics on what they want, because company can't give specifics.
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What YRC wants us to do is agree to open the MOU to re-negotiate. This would be tantamount to opening the US Constitution and not having a clue on what they were going to ask for. If they were to send over a "wish list" for us to talk about, there may be somethings in that "wish list" we as Teamsters might be interested in. Remember, once you re-open the MOU, all bets are off!
 
BIG R GUY said:
I read the same article W. Thing I do not understand is why they compare our debt to all the other companies combined? I do not see what this has to do with YRC's problem? Every company carries debt. It is part of doing business. Our's was created by a handful of people, not knowing what the hell they were doing. Comparing us to the others is absurd.
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Motley Fool was simply giving perspective to those who subscribe who don't know the LTL industry.

Fastenal, Google, Texas Instruments, Apple, Bed Bath and Beyond are all examples of large corporations without debt. All but Fastenal have more than enough CASH on hand to pay off all of YRCW's debt on Tuesday.
 
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