Estes Purchase of YRC Terminals IS HEAVENLY!!

Discussion in 'Estes Express Lines' started by Starkravinloon, Feb 25, 2009.

  1. Starkravinloon

    Starkravinloon Hero's Falling At Home

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    :smilie_132:Man, are we the talk of the industry or what. I LOVE IT. All these people that bashed us for years are wondering"Where the "H" did they come from!!!"
     
  2. Kings disciple

    Kings disciple Ecc. 12:13

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    It's reminds me of the words of Admiral Isoroku Yamamoto, Commander of the Japanese Fleet right after Japan the bombed the U.S. Navy at Pearl Harbor, he was reported to have said: "I fear we have awoken a sleeping giant."
     
  3. DMT

    DMT Well-Known Member

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    which terminals did estes purchase.another driver said today he was told estes purchased yellow orlando terminal. i do not believe this to be true but could be wrong.
     
  4. flstc2000

    flstc2000 Member

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    The terminals under the proposed sale have not been listed on any SEC filings or released by either company. Only that they are YRC, Holland and Reddaway terminals.
     
  5. Estands4evil

    Estands4evil Member

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    I've heard it was 26 terminals. I haven't heard which ones. I'm sure we bought terminals in locations we're hoping to add a location to the system or in places where even during normal freight levels, can't handle the amount of freight. It wouldn't make too much sense to buy a terminal in a city where we have a larger terminal, unless we're buying it strictly for the value of the land. Just my 2 cents, there's lots smarter people out there than I. :smilie_132:
     
  6. imported_rickroadway

    imported_rickroadway New Member

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    if you want to know whats really happening with the yrc terminal sale and leaseback read this article:
    (estes long standing history of cooperation with yrc ? the terminals they are buying will be leased back to yrc, meaning estes gives yrc 120 million dollars to be the landlord for yrc terminals. that works out great for yrc, they stay in the terminals and pocket the cash, nice.)

    Estes to Make Major Investment in Transportation Industry Real Estate
    RICHMOND, Va., Feb 20, 2009 /PRNewswire via COMTEX/ -- Estes announced today that it has entered into real estate contracts with YRC Worldwide subsidiaries YRC Inc., USF Reddaway, Inc., and USF Holland Inc., to buy and simultaneously lease back facilities located throughout the U.S. The total investment could be as much as $122 million. This move gives Estes the ability to grow its investment network of real estate properties.

    Estes and YRC have a long-standing history of cooperation in the less-than-truckload (LTL) arena. The YRC logistics business unit uses Estes as a transportation service provider for its clients in the ordinary course of business. "We have also worked with YRC over the years on many real estate transactions that have included the buying, selling and leasing of properties, which is common practice in the LTL industry," said Estes' Director of Real Estate and Economic Development, Angela Maidment. "This is a continuation of that mutually beneficial relationship, and now is a great time for us to make this kind of long-term investment."

    About Estes

    Richmond, VA-based Estes is a full-service transportation provider offering coast-to-coast North American coverage. Founded in 1931 by W.W. Estes, the company is still owned and operated by the Estes family. During the past 78 years, Estes has grown from a small, local carrier into one of the most respected multiregional LTL transportation systems in the country. With a network of terminals nationwide, the company offers direct service to all 50 states, Puerto Rico and the Caribbean, all 10 Canadian provinces and virtually all of Mexico. More information about Estes' core services and coverage network is conveniently available on .

    For further information, contact Paula E

    SOURCE Estes



    Copyright (C) 2009 PR Newswire. All rights reserved
     
  7. Starkravinloon

    Starkravinloon Hero's Falling At Home

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    I'm very aware of Estes history Rick. Been here a while. All I am saying and the real point is that this is goig to be SWEET for all of us. It makes us financially stronger and when and if YRC and the others don't make it(and I hope no one goes down) this will leave Estes with a bankroll. Thanks Rob, I think you made a very secure deal for OUR company!!!:clap:
     
  8. Cab Lizzard

    Cab Lizzard Well-Known Member

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    I Hope Estes has better luck in the long run than the Japanese Fleet did.
     
  9. imported_Turned

    imported_Turned Member

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    Originally Posted by rickroadway
    if you want to know whats really happening with the yrc terminal sale and leaseback read this article:
    (estes long standing history of cooperation with yrc ? the terminals they are buying will be leased back to yrc, meaning estes gives yrc 120 million dollars to be the landlord for yrc terminals. that works out great for yrc, they stay in the terminals and pocket the cash, nice.)

    I guess you are not very wise in the way the real world works. This is a major move trying to liquidate assets and keep operating. The only way it was a smart move is if they are going to be closing doors very soon. Other than that they will have a buy back clause in its contracts with Estes and will pay Estes rent then buy back at a higher price. Estes will be the only one to profit from this.

    How is it good for you? Oh wait did you forget that these were properties that YRC owned out right and there was no cost but upkeep. Your sh**ty OR just went up congratulations
     
  10. FX Sam

    FX Sam Member

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    you're killin me Turned.

    maybe YRC thinks the Higher the OR number is the more they make!

    Think about this one, Estes I am sure has a long contract with YRC on the lease with a % per year increase. If YRC does go backrupt YRC will still owe the money to fulfill the lease contract term with Estes.(YRC only gets something like 25% cash from the sales, rest goes to bank)

    YRC has no cash or real estate to sell and pay off Estes and guess who the new OWNERS of the YRC,USF,NPME are for pennies on the dollar. Estes is already taking freight from USF and the ball is just starting to roll.

    What the Hell is going on in this LTL industry?
     
  11. teamster elvis

    teamster elvis Well-Known Member

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    I sense a lot of anger aimed at YRCW from the two previous posters. Why is that? TE out....
     
  12. Matt

    Matt Supah truckah

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    Thanks racer ! BlackBerry sucks
     
  13. The Rev

    The Rev Member

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    Am I missing something here Estes buys a bunch of property and they are taking over the ltl industry?
     
  14. ls57racer

    ls57racer Well-Known Member

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    Nahhh... Just a bunch of employees that think the company made a smart move....Kinda REFRESHING isn't it....:biglaugh:
     
  15. nightowl

    nightowl Active Member

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    the employees should be patting theirselves on the backs. estes got the money to buy these properties by not paying what their emplyees are worth. way to go guys. they should be able to by something else in a few more years.
     
  16. nightowl

    nightowl Active Member

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    they won't be able to use the properties unless yrcw closes. yrcw has two ten year lease options. and if they do close estes could have bought them anyway. ask me estes just gave us the money to stay in business.. THANKS
     
  17. slider

    slider The Purple Promise

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    For 30 million more Estes could've bought the outstanding stock shares.
     
  18. mildew

    mildew Super Moderator Staff Member

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    Who would want to buy a boat with a hole in it??
     
  19. teamster elvis

    teamster elvis Well-Known Member

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    You die hard Estes folks are truly amazing. That's all for now. TE out....
     
  20. imported_rickroadway

    imported_rickroadway New Member

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    it's US (labor) the drivers and dockworkers who are being played with. remember the quote from the article " Estes and YRC have a long-standing history of cooperation in the less-than-truckload (LTL) arena. " we're all out here working hard to make a living at this, myself 31 years, i started driving truck before i knew any better. i've watched these companies union and non- union alike come and go. the only thing that remains the same is the faces. i've been a union driver 26 years and also worked non-union jobs where i was very happy. i do everything i can to get along with all of you out there and have friends who are union and non-union. there are a-***** on bothsides. remember that no matter who's truck your driving.
     

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