New Penn | here we go again

deejay

TB Lurker
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http://www.reuters.com/article/idCNN0610864120100706?rpc=44

i am just getting tired of this crap. How can this p.o.s. company not have cash. Where are they still bleeding from? They have already destroyed thousands of families. They warn they may not have cash on hand. We at new penn should have stood up to these bullies when we had the chance. They are destroying this company and it makes me sick to see what they are doing to the attitude of what used to be "new penn" employees. Why can't one of these presidents in one of these regionals get some financing somewhere and get us out from under this dead weight.




















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did you read the first few lines of the article
WARNS MAY NOT HAVE CASH
and also the last paragraph is not exactly good news.
 
With regards to the last comment/sentence. Who (what bank) would finance a company with no assets and and under funded pension with ongoing problems is going to want to put there money on the line? Most of the terminals have been sold (with the lease-backs).
 
[quote author=MontanaNY link=topic=81786.msg844613#msg844613 date=1278589664]
With regards to the last comment/sentence. Who (what bank) would finance a company with no assets and and under funded pension with ongoing problems is going to want to put there money on the line? Most of the terminals have been sold (with the lease-backs).
[/quote]

:poke: Why do you always come on here with your negative attitude?? I would worry more about the company you work for,as I have heard they aren't really turning mega profits either..Trust me Newpenn will be around for a long time and as far as your company I wish them also to be around a long time so I can continue to steal your pallets :kicking:
:grouphug: Now lets all get along :grouphug:
 
[quote author=crazy link=topic=81786.msg845179#msg845179 date=1278768451]
:poke: Why do you always come on here with your negative attitude?? I would worry more about the company you work for,as I have heard they aren't really turning mega profits either..Trust me Newpenn will be around for a long time and as far as your company I wish them also to be around a long time so I can continue to steal your pallets :kicking:
:grouphug: Now lets all get along :grouphug:
[/quote]

So why is what I am saying "negative". I am just trying to look at it as I see it and as I think a bank would see it. New Penn was a very good and profitable company until the while acquisition by YRC (Yellow). It is a shame to see what is happening and as for LTL freight in general, there is now 1 company making Mega Profits and I never said there were.

Go ahead and steal all you want. What do you think that if/when it happens that there are no ramifications to the shipper or the consignee? If freight is routed by company "A" and company "B" moves it and sends a bill for higher, it throws up a flag. I had to deal with it when I was a traffic manager and I threw a carrier out because of their drivers "trying" to pull crap like that. If you want the freight that bad, get a lead and secure if "ALL" for yourself.
 
[quote author=MontanaNY link=topic=81786.msg845348#msg845348 date=1278788168]
So why is what I am saying "negative". I am just trying to look at it as I see it and as I think a bank would see it. New Penn was a very good and profitable company until the while acquisition by YRC (Yellow). It is a shame to see what is happening and as for LTL freight in general, there is now 1 company making Mega Profits and I never said there were.

Go ahead and steal all you want. What do you think that if/when it happens that there are no ramifications to the shipper or the consignee? If freight is routed by company "A" and company "B" moves it and sends a bill for higher, it throws up a flag. I had to deal with it when I was a traffic manager and I threw a carrier out because of their drivers "trying" to pull crap like that. If you want the freight that bad, get a lead and secure if "ALL" for yourself.
[/quote]
You say you were a traffic manager at one time :poke: Now put yourself back in that situation and listen to people telling you how YRC is failing just how much would you listen to?? Is this how you sell freight??? As far as stealing freight :popcorn: I don't have to do that as we have very good salespeople..Newpenn will be around for a long time.And from what I have been told,there are buyers for Newpenn YRC will not sell :grouphug:
 
[quote author=crazy link=topic=81786.msg845640#msg845640 date=1278853992]
You say you were a traffic manager at one time :poke: Now put yourself back in that situation and listen to people telling you how YRC is failing just how much would you listen to?? Is this how you sell freight??? As far as stealing freight :popcorn: I don't have to do that as we have very good salespeople..Newpenn will be around for a long time.And from what I have been told,there are buyers for Newpenn YRC will not sell :grouphug:
[/quote]

If I were back in that situation of being a TM, I would listen to what was going on in the market place and also make sure that I was (as I am now) well educated (through my own research) on what is going on in the industry. What I see is that YRC (as a whole) has bleed itself of value, assets and service is failing (except for the USF and New Penn groups on the service). I just do not see how if came come back as it is so far down. As for selling the regionals, I have heard that there are parties willing to buy, but there are 2 sides: 1- - for YRC to sell one of the regionals, they are gonna want top dollar and woudl top dollar even make enough of a difference to YRC. New Penn is a $450 million dollar per year company and woudl likely sell for 3 years revenue (that would be if they had their property and assets). 2 - In this market, for someone to buy a trucking company, it had better be a deal. The ones that I likely could see buying New Penn would be the employees and to make it an employee owner company.
 
I have been told there were buyers for NP for 18 months.....where are they? What do we have that a buyer would want? Very few assets......terminals have been sold....no property. Trucks are leased.....no equipment. Master freight agreement.....no freedom to manage employees outside of contract. Pension plans that are waiting to be funded. I was a beleiver that we would be sold but I have given up. John M., Don J., Dave I., Moe G., are all New Penn VPs that have left in the last year. Don't you think if we were going to be sold that they would have stayed. You tell me.
 
[quote author=npmemanager link=topic=81786.msg846353#msg846353 date=1278979954]
I have been told there were buyers for NP for 18 months.....where are they? What do we have that a buyer would want? Very few assets......terminals have been sold....no property. Trucks are leased.....no equipment. Master freight agreement.....no freedom to manage employees outside of contract. Pension plans that are waiting to be funded. I was a beleiver that we would be sold but I have given up. John M., Don J., Dave I., Moe G., are all New Penn VPs that have left in the last year. Don't you think if we were going to be sold that they would have stayed. You tell me.
[/quote]

you highlighted alot of info here ( i had no idea Moe G took off too ). im assuming you're management so tell us, what's next for NP ? i agree with you on us not being sold. i believe that boat has sailed. YRC aint gonna let us go so, in your opinion, what's gonna be our fate ? got another question for you : do all TM's in NP have limited "you're fired" power when it comes to their own staff ? what i mean is, if your assistant TM or dispatcher is a total incompetant "F" that brings absolutely ZERO to the operation, why must a TM wait for a regional VP, who's never at the terminal to witness some of the stupidity that goes on, to show up and drop the hammer down ?
 
[quote author=npmemanager link=topic=81786.msg846353#msg846353 date=1278979954]
I have been told there were buyers for NP for 18 months.....where are they? What do we have that a buyer would want? Very few assets......terminals have been sold....no property. Trucks are leased.....no equipment. Master freight agreement.....no freedom to manage employees outside of contract. Pension plans that are waiting to be funded. I was a beleiver that we would be sold but I have given up. John M., Don J., Dave I., Moe G., are all New Penn VPs that have left in the last year. Don't you think if we were going to be sold that they would have stayed. You tell me.
[/quote]

Well said. Being you are from the "inside of NPME", many will listen to you. But since I am from the "outside". many will no want to hear what I have to say. Yet, looking at both of our posts, we are saying the same thing.
 
[quote author=MontanaNY link=topic=81786.msg846403#msg846403 date=1278986896]
Well said. Being you are from the "inside of NPME", many will listen to you. But since I am from the "outside". many will no want to hear what I have to say. Yet, looking at both of our posts, we are saying the same thing.
[/quote]

don't worry bro, i'm not included with those "many". i'm always curious for new info whether it be from the inside or outside. the problem with the info from the "outside", it tends to be a rumor started at the mechanic shop, driver's room, pit stops on the road, etc.
 
[quote author=UnionTrucka link=topic=81786.msg846413#msg846413 date=1278987998]
don't worry bro, i'm not included with those "many". i'm always curious for new info whether it be from the inside or outside. the problem with the info from the "outside", it tends to be a rumor started at the mechanic shop, driver's room, pit stops on the road, etc.
[/quote]

Now I understand that "when" I drive, ALL that I hear on channel 19 "is not true"..........except for the commercial BEAVERS!!
 
YRC isn't going to sell NP..they will, in their pride, allow it to go down in smoke and flames...taking as much collateral damage as needed...except the pockets of the top. This, they have already proven. Very unfortunate.
 
[quote author=Ella link=topic=81786.msg851736#msg851736 date=1280228648]
YRC isn't going to sell NP..they will, in their pride, allow it to go down in smoke and flames...taking as much collateral damage as needed...except the pockets of the top. This, they have already proven. Very unfortunate.
[/quote]Well we are back to doing a million a day average and our biggest problem is getting help. So whats your point ? Most of the top in the company retired or went somewhere else so what ?
 
Here's the real deal. We, who were once at the top of the freight food chain, are now the prey. Yes we do have jobs, however, these jobs are not secure; not even close. Our jobs may last, a day, a week, a month, a year, a decade, or even longer, because that is the nature of the business we're in. It has always been, and will always be that way, for freight companies, no matter who you work for. Now that the majority of you neutered cry babies ( I refer to those of you who voted "yes" on the concessions), who helped the company destroy our standard of living, and work rules, see that bending over was not the right way to go, shut up, suck it up, and enjoy what you voted for. Management is surely enjoying it. Throughout this entire ordeal, New Penn could have afforded to operate without the concession package in place. You may realize that now, but guess what; it's too late! Wether we get spun off or not, we will never again enjoy in entirety, what we once had! God bless America and those who voted "NO"!
 
:thumbsup:[quote author=fxr5spd link=topic=81786.msg852469#msg852469 date=1280373807]
Here's the real deal. We, who were once at the top of the freight food chain, are now the prey. Yes we do have jobs, however, these jobs are not secure; not even close. Our jobs may last, a day, a week, a month, a year, a decade, or even longer, because that is the nature of the business we're in. It has always been, and will always be that way, for freight companies, no matter who you work for. Now that the majority of you neutered cry babies ( I refer to those of you who voted "yes" on the concessions), who helped the company destroy our standard of living, and work rules, see that bending over was not the right way to go, shut up, suck it up, and enjoy what you voted for. Management is surely enjoying it. Throughout this entire ordeal, New Penn could have afforded to operate without the concession package in place. You may realize that now, but guess what; it's too late! Wether we get spun off or not, we will never again enjoy in entirety, what we once had! God bless America and those who voted "NO"! :thumbsup:

Not everyone at the top is gone..and even if/when they do go..will walk with a really pretty purse and not even a slap on the wrist. Seeing how payments back in to the pension are SUPPOSE to begin soon...the money shifting will once again pick up AND the crying of HELP will get louder and louder.
 
[quote author=UnionTrucka link=topic=81786.msg849770#msg849770 date=1279774062]
hey NPME manager, where ya been ?? we're all waiting on your answers bro :thumbsup:
[/quote]

hey bro i like your avatar
is that your girlfriend's pic?
don't let your wife see that!! :poke:
 
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