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Yellow | Getting a lot of peddy crap orders and rules from this company I won't name.Putting that aside. What

Canadian Flyer said:
With what money will they perform this amazing feat of giving you everything? You're making an awfully big assumption that YRC won't shut down. A lot of people thought the same thing about CF, and we all know how that one turned out.

YRC is not obligated to operate at a loss just to pay you and give you new equipment. Their debt load is massive, and it won't be up to YRC if you tough guys think you can get your way. The bank owns everything that has YRC's name on it, and they'll liquidate everything to get as much of what they're owed as possible if YRC can't pay.

Let me repeat that for you. YRC owns nothing. The bank owns everything. If YRC can't pay the bank, they file for bankruptcy. The bank seizes their assets and liquidates them to cover debt costs. And that means no more YRC. Which means no more jobs for union tough guys who would rather stab their company to death for money than help them survive to ask for more money when times are actually better.
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Canadian Flyer said:
No. They pay you from their corporate bank account. That's not borrowed, smart guy.

All of YRC's profits are essentially focused on paying down the loan. You're not paid with actual borrowed money, as you are undoubtedly paid from the coffers, but what they pay you can't go towards financing equipment or paying down the loan.

You deserve your money back. I'm just explaining why you're unlikely to get all of it back during the next contract negotiation. And if the bank doesn't agree with the terms, they can exercise an option to foreclose on the loan and demand all of their money from YRC. YRC can't pay that, and it would bankrupt them. If you're okay with that, then go ahead and vote no. It's your choice, but make it a well informed choice.
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What have they paid down? The debt has been decreased by restructuring terms not by payments. And I get it that his 10 million came from stocks but the funds from those stocks could be used elsewhere just as easy. Cash in 10 million in stock and you have 10 million to use on equipment or how ever it's needed. People say his pay was stock so its ok. It's still a lot of money.
 
Keepingon said:
What have they paid down? The debt has been decreased by restructuring terms not by payments. And I get it that his 10 million came from stocks but the funds from those stocks could be used elsewhere just as easy. Cash in 10 million in stock and you have 10 million to use on equipment or how ever it's needed. People say his pay was stock so its ok. It's still a lot of money.
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That's because they're barely making their interest payments, and that's with the regionals being so profitable AND the 15%. 10 million is a lot of money, but the company can't cash in its own stock. That's not how it works. Would it have been smart for Welch to give that money back to the company? Absolutely. How he would do it without the IRS calling foul, I don't know. But he can't just spend his bonus, paid in stock, on new trucks, trailers and forklifts for the company because HE would own them, not YRC. Welch ≠ YRC.
 
Your right but the point I was trying to make was no matter how you slice it he he got paid 10 million. I don't think anyone would argue or say no if they were offered stock to compensate for their 15 percent salary cut. It's equal sacrifice after all.
 
Keepingon said:
Your right but the point I was trying to make was no matter how you slice it he he got paid 10 million. I don't think anyone would argue or say no if they were offered stock to compensate for their 15 percent salary cut. It's equal sacrifice after all.
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It's sad when you gamble, but if you win.....what will you win?
 
George David said:
The 10 million they gave Welch and 7 million they gave the other clown as "bonus" or pay raise in 2014. Who's money was that? The banks?

In another vote comes up I'd love to see a unanimous No! from the Union employees.
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Aren't you a non union employee from another LTL.The competition would love for us to close.Not Happening LOL:438:
 
Canadian Flyer said:
No. They pay you from their corporate bank account. That's not borrowed, smart guy.

All of YRC's profits are essentially focused on paying down the loan. You're not paid with actual borrowed money, as you are undoubtedly paid from the coffers, but what they pay you can't go towards financing equipment or paying down the loan.

You deserve your money back. I'm just explaining why you're unlikely to get all of it back during the next contract negotiation. And if the bank doesn't agree with the terms, they can exercise an option to foreclose on the loan and demand all of their money from YRC. YRC can't pay that, and it would bankrupt them. If you're okay with that, then go ahead and vote no. It's your choice, but make it a well informed choice.
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You guys at Fed Ex have no idea what we sacraficed to keep our contract and working conditions.I'll take less money to keep what I got and if I don't like it any more I'll walk away.Complaining gets you no where.Actions speak louder than words.
 
linehaul55 said:
A lot of orders and rules from this company I won't name seem to be coming out lately..Putting that aside. What is _other_ at the bottom of our pay check? Other.
other- at the bottom of our pay check. Yes I said it mutipal times.
It use to be union equity and union wages. (our said 15%).
At least you knew who was robbing us. Now it's just Other.Seems these company's drum up things to make the worker miserable.Slow trucks,old lacking in mechanical care to say the least. Running old unsafe roads risking accident levels Verses a clean straight road or toll road. WHAT'S OTHER???????????
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Don't let the door hit you in the ass on the way out.
 
roadboss said:
You guys at Fed Ex have no idea what we sacraficed to keep our contract and working conditions.I'll take less money to keep what I got and if I don't like it any more I'll walk away.Complaining gets you no where.Actions speak louder than words.
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You're right, I don't know what you've sacrificed. But I do know what I've heard from others. And I do know my own experiences. When FedEx stopped respecting seniority, I left.

I encourage you to do what you feel is best for you, and I personally believe that YRC remaining open would be better for the industry at large.
 
Keepingon said:
Your right but the point I was trying to make was no matter how you slice it he he got paid 10 million. I don't think anyone would argue or say no if they were offered stock to compensate for their 15 percent salary cut. It's equal sacrifice after all.
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You would argue because stock is worthless until it's sold to the market. If you want stock rewards, negotiate it in the contract and see if YRC will give it. But there's no way they can promise you that the stock will equal your lost 15% at sale time. It's worth whatever it's worth per share at the time of sale.

If you want the stock to be worth anything, then it'd be in the interest of all YRC employees to put their best foot forward to maximize stock value and thus maximize your own bonus.
 
Canadian Flyer said:
You're right, I don't know what you've sacrificed. But I do know what I've heard from others. And I do know my own experiences. When FedEx stopped respecting seniority, I left.

I encourage you to do what you feel is best for you, and I personally believe that YRC remaining open would be better for the industry at large.
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Thank you for your honesty,I'd rather fight than switch,I work with some damm good people many are my dear friends.I don't have to worry about the bargaining unit members stabbing me in the back.It may be a ::shit:: hole,but the people really make the difference,Iam old school.
 
Canadian Flyer said:
You would argue because stock is worthless until it's sold to the market. If you want stock rewards, negotiate it in the contract and see if YRC will give it. But there's no way they can promise you that the stock will equal your lost 15% at sale time. It's worth whatever it's worth per share at the time of sale.

If you want the stock to be worth anything, then it'd be in the interest of all YRC employees to put their best foot forward to maximize stock value and thus maximize your own bonus.
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I think your misunderstanding me, it's not about his pay or my pay. It's the fact that good people have sacrificed a lot to keep the doors open on this company and now find themselves going to work everyday and while work conditions decline they work harder to keep it open. Money being spent on execs could be spent improving work conditions and help get the place on track.
I don't know if you work here or ever have but I don't think you should be telling people who have sacrificed more than you know to put their best foot forward. These Execs can take the credit but if not for the men and woman who come to work everyday on the labor end YRC would have been closed before they got here.
 
Canadian Flyer said:
You're right, I don't know what you've sacrificed. But I do know what I've heard from others. And I do know my own experiences. When FedEx stopped respecting seniority, I left.

I encourage you to do what you feel is best for you, and I personally believe that YRC remaining open would be better for the industry at large.
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Dont belive the truck driver stories from the TA.
 
Keepingon said:
I think your misunderstanding me, it's not about his pay or my pay. It's the fact that good people have sacrificed a lot to keep the doors open on this company and now find themselves going to work everyday and while work conditions decline they work harder to keep it open. Money being spent on execs could be spent improving work conditions and help get the place on track.
I don't know if you work here or ever have but I don't think you should be telling people who have sacrificed more than you know to put their best foot forward. These Execs can take the credit but if not for the men and woman who come to work everyday on the labor end YRC would have been closed before they got here.
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No, friend, you're misunderstanding me. I'm not saying put your best foot forward for free. I'm saying that if you want stock rewards, like what your CEO has, you would WANT to put your best foot forward so your stock reward would be worth as much as possible when you cash it in.

The company is not giving your execs money. They're giving them stocks IN LIEU of bonuses. They sell the stocks to investors in the market, which is where the money comes from. YRC is NOT paying them. That money can't be used for the company because it's not company money.

If you want stock rewards like the execs, ask the union to negotiate it into the contract. I think it'd be an excellent idea, personally.
 
Canadian Flyer said:
No, friend, you're misunderstanding me. I'm not saying put your best foot forward for free. I'm saying that if you want stock rewards, like what your CEO has, you would WANT to put your best foot forward so your stock reward would be worth as much as possible when you cash it in.

The company is not giving your execs money. They're giving them stocks IN LIEU of bonuses. They sell the stocks to investors in the market, which is where the money comes from. YRC is NOT paying them. That money can't be used for the company because it's not company money.

If you want stock rewards like the execs, ask the union to negotiate it into the contract. I think it'd be an excellent idea, personally.
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You guys from north of the border always seem to make sense..eh?
 
You said more than I can say.
Keepingon said:
I think your misunderstanding me, it's not about his pay or my pay. It's the fact that good people have sacrificed a lot to keep the doors open on this company and now find themselves going to work everyday and while work conditions decline they work harder to keep it open. Money being spent on execs could be spent improving work conditions and help get the place on track.
I don't know if you work here or ever have but I don't think you should be telling people who have sacrificed more than you know to put their best foot forward. These Execs can take the credit but if not for the men and woman who come to work everyday on the labor end YRC would have been closed before they got here.
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Well said brother
 
I actually believe that Overland Park is somewhat out of touch with its workforce.Some things are out of sync on what is said to be done and actually performed.Watching the reported numbers by each terminal is not a true account of what's going on on the ground.
 
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