I like turtle's
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I totally agree. But sometimes location comes into play when looking for work. All the good job prospects adds a extra 20 minutes to work for me
Yellow | Estes.... the new Yellow ?
- Thread starter OnPoint44
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As debt shy as Estes is, I seriously doubt that they will assume Yellow’s debt, and they already own a lot of the terminals that have been vacated. Estes prides itself on being debt free, and that never changed in all the years I was there. I have no doubt that they are interested in the equipment as the lead time for new tractors is still over a year. For that matter, Estes Leasing may be the lease holder.
slavenomore
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Check the new thread titles.
Estes just bid $1.3 billion for Yellow's terminals.
I like turtle's
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I hope they didn't hire zollars....
What a bargain that may turn out to be. 169 terminals that are "owned". $7.7M each on average. Keep the better locations/facilities for themselves. Lease out those with great CAP rates and sell the rest at FMV.
Wait a minute, what's wrong with this picture? The leader of the Teamsters effectively puts the final nail in the coffin of the largest remaining unionized LTL trucking company. A non-union LTL trucking company buys up the terminals and equipment of that closed down unionized company. In effect, the non-union company now expands and operates the closed down unionized company as an even larger non-union company. Wow, that sure seems like an odd strategy for a Teamster leader. What am I missing here?
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Razorblade
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The only thing you are missing is that Yellow has more than enough assets to pay the creditors and will finally show a large profit. Looks like the only losers here are the Teamster employees.Wait a minute, what's wrong with picture? The leader of the Teamsters effectively puts the final nail in the coffin of the largest remaining unionized LTL trucking company. A non-union LTL trucking company buys up the terminals and equipment of that closed down unionized company. In effect, the non-union company now expands and operates the closed down unionized company as an even larger non-union company. Wow, that sure seems like an odd strategy for a Teamster leader. What am I missing here?
Estes doesn't want all that freight, nor all those employees. They'll take a little of both. This is more about larger legacy and setting up their family for even more generations. Even at FMV those properties will return 5-6% per year on average with very little effort. Beats the hell out of trying to haul $1.7B of freight at a 94 OR.Wait a minute, what's wrong with this picture? The leader of the Teamsters effectively puts the final nail in the coffin of the largest remaining unionized LTL trucking company. A non-union LTL trucking company buys up the terminals and equipment of that closed down unionized company. In effect, the non-union company now expands and operates the closed down unionized company as an even larger non-union company. Wow, that sure seems like an odd strategy for a Teamster leader. What am I missing here?
skullcramp
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They also own the Holland Milwaukee terminal
Not saying Estes will take Yellow's freight or employees, just that they will essentially absorb the Yellow physical plant and network and it will become Estes.
Estes has a great freight pricing plan, NO CHEAP FREIGHT ALLOWED. Plus some of the LTL Salesman will discount freight , just to get their BALLS Licked.
Sound of that gives me a tingle!Estes has a great freight pricing plan, NO CHEAP FREIGHT ALLOWED. Plus some of the LTL Salesman will discount freight , just to get their BALLS Licked.
Estes Offers $1.3 Billion for Yellow Terminals | Transport Topics
Estes Express Lines is in line to buy the terminals of bankrupt less-than-truckload rival Yellow Corp. after submitting a $1.3 billion bid, a court heard Aug. 17.
its just a bid, the bankruptcy court still has to see what other bids there are either for all or to sell them at auction or individually. What Estes did was set the low price, if the judge does not accept it they get $26 million- yes $26 million for just being the 1st stalking bidder.Estes Offers $1.3 Billion for Yellow Terminals | Transport Topics
Estes Express Lines is in line to buy the terminals of bankrupt less-than-truckload rival Yellow Corp. after submitting a $1.3 billion bid, a court heard Aug. 17.www.ttnews.com
Spacetruck
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Saw that very thing happen. I've been with Estes for over 25 years and can say with complete honesty they treat us very well as drivers.
I remember the last few years when everyone was saying how the non union lines were making more than us, and bellyaching. Well now’s your chance to go work there. Except the problem is, that they won’t hire any former union guys.