Yes WE collectively voted a paycut, pension destruction, vacation giveback, etc because the company said (three times) "this is all we need to survive" SURVIVE! Not run up even more debt, eliminate half the teamsters who collectively voted for concessions, reinvest practically zero into the company, and keep the overbloated management team who created this cluster $&@# in the first place employed. Now they want to borrow even more money they have zero chance of ever paying back, to buy another company because they can't fill their trailers with the over discounted garbge they are currently hauling.
Yellow | Enough is Enough
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Yes WE collectively voted a paycut, pension destruction, vacation giveback, etc because the company said (three times) "this is all we need to survive" SURVIVE! Not run up even more debt, eliminate half the teamsters who collectively voted for concessions, reinvest practically zero into the company, and keep the overbloated management team who created this cluster $&@# in the first place employed. Now they want to borrow even more money they have zero chance of ever paying back, to buy another company because they can't fill their trailers with the over discounted garbge they are currently hauling.
Last I checked, the company was still surviving, still operating, still paying thousands of Teamsters every day. Last I checked people were still getting their pension checks. Last I checked way more than 50% who voted were still working and getting paid. Seems to me the givebacks did a good thing for the sake of lots of people who are still employed at a company that was very close to shutting down. I'm sure there are hundreds of thousands of unemployed folks who would jump at the chance to have a job that so many here are crying about. Put it in perspective a little.
Trplex,I actually agree with some of your comments. You are right that a CEO`s number one priority, is not to make sure that the employees are warm and fuzzy.( but morale does certainly play a roll in the success of any organization) .Also you said that we agreed to a pay cut live with it ,I agree whats done is done. The thing that I can`t agree with you on is that the failure of the 2 other purchases, turned out bad, because of the economy .Actually, the regionals have been doing good for some time and did pretty good through the recession.Why? Because they didn`t try and combine them with other companys.The problem was the other accusation (roadway- yellow). .Yes, the economy was bad ,no denying that .But many of the problems were self inflicted. We all remember the terrible integration of the computer system and the lack of training involved with that.I remember reports from one analyst who said there something like 200,000 shipments missing in the system ,at the time. The lack of communication with customers on who YRC was and what they brought to the table was another issue. I still remember comments from Welch when he first came on, he said let Holland be Holland .Let Reddway be Reddway. Let New Penn be New Penn. But now, after going through one of the worst mergers ever, he doesn`t want to let Yrc be Yrc .He wants to try and jam another company, with there own strong company culture, into Yrc. I guess my question is , what makes Welch think he can achieve this, when we are still bloody from the last one?
Yeah we got that "just be happy you have a job" perspective three times when the company came begging for more money. Its getting a little old. THEY are the ones who are lucky to have a job.
He can't achieve this. Welch has a big problem, this company has been living on asset sales and now there are no more assets to sell. The yellow parasite needs another company to sell off piece by piece in order to pay the electric bill.
You know nothing about running a business; stick to delivering freight; it might be your only skill. YOU...YOU... said YRC was dead along time ago! Hopefully they are re-financing the debt as we speak, and the whole ABF thing was a smoke screen to get the stock price of both companies up. Also, this raises YRC credit rating! Hopefully they will offer you a buyout. Prying you take it!
You're one of welch's biggest cheerleaders jenny girl. What do you think of your hero slapping you in the face now? Refinancing the debt? They already have many times. The credit rating is in the toliet, it can't go anywhere but up from here. At least you are finally realizing our continually growing debt problem. It takes baby steps for kool-aid chokers like you.
Let's see what happens; My guess is you will be proven wrong, yet again. You, along with that fact, is nothing new.
Cab Lizzard
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Think of all that ABF property that could be sold off to pay for the deal !!
Think of that newer equipment that could be running down the road with a new name on the door !!
Think of that newer equipment that could be running down the road with a new name on the door !!
yrc-atm, regardless of who the CEO talks to (none of your business anyway), of whatever the debt load is, of whatever the credit rating is (all things you have no control over) is YRCF still operating and paying its employees every week? If so, you're welcome to continue with your somewhat useless rants. Go for it.
Considering the givebacks and having two so called IBT appointees on the BOD, it IS OUR BUSINESS who the ceo talks to about buyouts and mergers. Keep your yes pencil sharpened there big guy, this pig is gonna come back crying poor in 2015. Then you can have your "just be happy to have a job" perspective shoved down your throat again.
Since you have so much faith in your crystal ball, can you give me Saturday's Powerball numbers so I can retire with the $550 million lump sum winnings?
PS - Why are you even concerned with something that "might" happen in 2015? Tomorrow isn't even here yet. Man, you are a glutton for punishment.
We are also making our payment schedule on the interest on our debt, which will eventually lead to a refinance/restructuring of our debt at a lower rate.
This will most likely provide more operating capital, which will in turn allow the company to continue to upgrade a depleted infrastructure.
Yes, I know the debt has increased. All of the aforementioned allows for more operating capital to eventually reduce that debt.
The only PIG around here is you......P.I.G......
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