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Estes | Estes Purchase of YRC Terminals IS HEAVENLY!!

here is another article from jan 2009 about the sale and leaseback of 150million worth of terminals to NATMI. they are excess capacity YRC will end up with more terminals than either Roadway or Yellow had prior to the merger. the sales are excess capacity, yes to generate cash to pay debt. with this money and 300million in wage givebacks etc YRC will have over ONE Billion Dollars in " operating Efficiency " (CASH) this year alone. LOOKOUT!!!
St. Louis Business Journal

YRC also announced that it entered into a sale-leaseback contract of a pool of the company’s facilities with NATMI Truck Terminals LLC.

The purchase price for the facilities was approximately $150.4 million with initial annual lease payments of $21.1 million.

The deal is expected to generate additional cash for the company, which currently holds more than $250 million in cash.

YRC Worldwide Completes First Phase of Financing Transaction
- Receives $101 Million of Cash Proceeds
OVERLAND PARK, Kan., Jan 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it has closed the first part of the sale and financing leaseback transaction from a contract with NATMI Truck Terminals, LLC ("NATMI") entered on December 19, 2008. The company received approximately $101 million of proceeds today and expects to receive approximately $50 million more in the second closing. Details of the transaction were provided in a Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on December 24, 2008.
 
who's kidding who about debt. i quote from the article:
"The deal is expected to generate additional cash for the company, which currently holds more than $250 million in cash."
don't forget the sale of excess equipment
 
nightowl said:
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
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What you don't seem to understand (among other things) is that those properties were bought alot cheaper now than if yrc went down and the banks were selling them.

As far as Estes giving you the money to stay in business your right, now don't blow it. We need good on-time rent paying tenants.
 
nightowl said:
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.
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Now I know why I sit for 24 hours at terminals sometimes, and the 3 hour breaks in between terminals, etc. boy if we got a little detention pay that would have kept us from buyin up all this property.
Forgot all those empty miles we are tryin to get rid of to by putting the unlucky ones out on the Extra Board.
Funny how I hear about guys running Empty on Extra board.
 
elvis said:
I sense a lot of anger aimed at YRCW from the two previous posters. Why is that? TE out....
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I guess you are not really reading my post. I was only mad about the driver bashing us for buying YRCW properties. And I am sorry mad is not the right word. I can not stand liars and thats what that post was. Just a union guy bashing us for being in a better financially operated company. But thank you elvis for not trying to argue with the my posts information. And this is a last chance effort by YRCW to stay in business. And the lies that are being told are hilarious at best
 
I think what all the hard feelings are about this deal is that Estes kept its powder dry and this economy has yielded some opprotunities . Now the big boys are feeling some stress and they are pissed that what was in the past a small carrier, can give them some much needed capital. As far as an earlier posters comment on us being under paid I believe we did not take a pay cut but got a raise . What about the big boy union drivers ? I have followed these forums since before the forum reset and can tell you the comments from the "big boys " has been less than complimentary. Business is business , I am just glad that we seem to have some savy corporate people.
 
Estes is buying and expanded to 50 state coverage, ABF is looking to buy a company, OD is building new terminals, FedEx is getting slammed with freight and YRC is SELLING TO SURVIVE. Banks tell YRC what they can and cannot do.

I see something here do you?
 
Top Flight said:
Estes is buying and expanded to 50 state coverage, ABF is looking to buy a company, OD is building new terminals, FedEx is getting slammed with freight and YRC is SELLING TO SURVIVE. Banks tell YRC what they can and cannot do.

I see something here do you?
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I have my thoughts, but, in your infinate wisdom TF, why don't you enlighten us.:bowdown:
 
Top Flight said:
Estes is buying and expanded to 50 state coverage,
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That is excellent and a credit to your companies business sense
ABF is looking to buy a company,
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That is only a rumor, if you have any facts to support that statement , lets hear the it.
OD is building new terminals,
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and has had their credit rating lowered by the Wall Street market watchers !
FedEx is getting slammed with freight
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So why are they laying off drivers and eliminating line haul runs ?
I see something here do you?
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No, I don't,other then the overall economy is in the toilet.
 
That is excellent and a credit to your companies business sense
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I am FedEx, Thank You!

That is only a rumor, if you have any facts to support that statement , lets hear the it.
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You will see in the near future.

and has had their credit rating lowered by the Wall Street market watchers !
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Like most ALL companys in this country, Your POINT?

So why are they laying off drivers and eliminating line haul runs ?
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They will get them working back soon. Only the good ones though.


I see something here do you?
****

No, I don't,other then the overall economy is in the toilet.
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Mismanagement of company liquid assets and building major debt is what is putting Large companys out right now. 5 years ago I saw a melt down heade for this country from the housing uprise, prices were raising to fast for the economy to handle and when the bubble burst it took the entire country industry with it.

5 years age this was in the forecast, how long ago did YRC buy out companys and create their massive debt?

Stupid Bill Z. is dreamer with other peoples money.
 
new od terminals

2 new terminals in the midwest, one opened up in fall 08 and ours to open on mar 13, can't come soon enough. might be more but thats all i know of.
 
Top Flight said:
I am FedEx, Thank You!
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I was offering the Estes employees a nod toward their good management, sorry if working for Fedex offends you.
You will see in the near future.
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Yes we will, ABF has even told their employees in company meeting they are not looking to acquire any other companies.
Like most ALL company's in this country, Your POINT?
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The point was nothing is valued the same as several years ago .... so what was the point in your original post ?
They will get them working back soon. Only the good ones though.
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If you believe that, it's fine. Only problem is the world economy dictates business levels. If they need drivers they will take whoever they can get, same as before.
Mismanagement of company liquid assets and building major debt is what is putting Large company's out right now. 5 years ago I saw a melt down heade for this country from the housing uprise, prices were raising to fast for the economy to handle and when the bubble burst it took the entire country industry with it.

5 years age this was in the forecast, how long ago did YRC buy out companys and create their massive debt?

Stupid Bill Z. is dreamer with other peoples money.
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I thought that is what all big business does that are publicly traded companies. Some reap large rewards, some don't, but if you don't try then you will never know how something will turn out. In reference to you seeing what happened 5 years ago, I can only assume you are a financial expert and have made all the right decisions which has placed you and your family in a secure position to weather this economic downturn. Congratulations !
 
flstc2000 said:
I was offering the Estes employees a nod toward their good management, sorry if working for Fedex offends you.Yes we will, ABF has even told their employees in company meeting they are not looking to acquire any other companies.The point was nothing is valued the same as several years ago .... so what was the point in your original post ?If you believe that, it's fine. Only problem is the world economy dictates business levels. If they need drivers they will take whoever they can get, same as before.I thought that is what all big business does that are publicly traded companies. Some reap large rewards, some don't, but if you don't try then you will never know how something will turn out. In reference to you seeing what happened 5 years ago, I can only assume you are a financial expert and have made all the right decisions which has placed you and your family in a secure position to weather this economic downturn. Congratulations !
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Don't worry bout what the big boy's are saying driver. Kinda sounds they are talking from fear than anything else. They been the TOP DOG for a while and now "THE LITTLE COMPANY FROM VIRGINIA" is making some noise they have to protect themselves. So let them continue BASHING us like they always have and we'll take care of "OUR LITTLE COMPANY FROM VIRGINIA".:clap:
 
Bad Azz Big E

:tribehasspoken:I think its great that the big E is buying up property! Great investment for the future! You know, I"ll take the lesser pay than have my company be sold out to a non-union little big E!! Except for the rebid this year, I think we still had a great year...RAISES!!!, New Terminals!!!...and in a "bad economy"!!! Every dog has its day, and this is the day we come off the porch and chew the legs off the mailman!!! :nutkick:
 
:showoff:Ya, No crap. I'll let them talk, we own their asses!!! Alot of protection the union gave em huh!! Did'nt they take a pay cut, retirement consession...:loser:
 
nightowl said:
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.
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:hand::loser:!!! DON'T Hate The Player...Hate The Game!!:tongue0002:
 
Rhondasman said:
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.
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You'd better hope they don't go down. If they do Rob will be left with a bunch of property without a tenant.
 
KC Guardrail said:
You'd better hope they don't go down. If they do Rob will be left with a bunch of property without a tenant.
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Well if they do go down (and again I hope they don't) that will put about 40% of the LTL market share up for grabs and whoever has the terminals will move the bills.
 
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