If you reread my posts I told you what the outcome would be with a no vote. Once again -the moment I heard the tally I called. Once again I was told that they would be filing by the end of the month. The IBT has no contingency plans. The reason that no word was made of by the IBT of what would happen with a no vote was that they were afraid of if the one word I don't want to mention was stated that the customers would start to leave and then it would become a "self-fulfilling prophecy". That is how close they are in revenue.But as usual you guys always want to believe fiction. I hate even to mention these blogs ( motely fool and seeking alpha ) because they never have anything positive to say. Guess what ??? People I talk to think they are very factual.
On to the bond payment-if the money is available to pay it w/o a new contract and refinance in place it is not that simple. The Feb. bond is junior to the Sept. bond. So if they pay the Feb. bond 1st they would technically be in default and the Sept. bondholders could call them on it.
We may not even make it that far though if the customers leave. Make no mistake about it. The competitions sales force has been telling customers for months--------BUT NOW they have a no vote to show them!
Remember the employee survey? That is what MAEVA(?) used to develop their proposal and vote strategies around.
I can tell you one thing YRCW and the lenders are talking in NYC contrary to published reports and they also are talking to the IBT so just hope ( pray ) that they yield something positive. A stop gap of some measure has to be worked out because of this bond problem.
Ultimately the labor agreement has to be in place for the refinancing to happen.
THERE IS NO HIDDEN MONEY!!!!!!!! Will you please get off this kick. Does anyone know what ABF is paying into the pension???? ---------$12 and change!!!!!!!!!! Do the arithmetic will you please!!!!!!!
AS soon as I saw the non-cdl pay freeze and the 6% subcontracting and knew that there was no way this was going to pass. They pay these guys millions and then this is the plan they develop. I'd be asking for a refund.
There is nothing I hate more than going into a customer who I built up friendships with and then basically lie to their face knowing that this will probably be it.
You guys just kill me. Kennesaw Kid knows I voted yes and I know he voted no and I'm not sitting here badmouthing the guy and he isn't me but go ahead if it makes you feel better.
I have worked with guys for years and all they have done is complain complain complain. Suddenly they are now worried that they may close. REALLY???? Or how about this clown "Shut her down" morning noon and night but he's retiring soon so he has it all figured out unemployment and when his checks start. Do you think he cares about anyone else other than his own sorry ass that may need this job? I DOUBT IT.
But hey let's hope something good comes out them talking.
See you.
On to the bond payment-if the money is available to pay it w/o a new contract and refinance in place it is not that simple. The Feb. bond is junior to the Sept. bond. So if they pay the Feb. bond 1st they would technically be in default and the Sept. bondholders could call them on it.
We may not even make it that far though if the customers leave. Make no mistake about it. The competitions sales force has been telling customers for months--------BUT NOW they have a no vote to show them!
Remember the employee survey? That is what MAEVA(?) used to develop their proposal and vote strategies around.
I can tell you one thing YRCW and the lenders are talking in NYC contrary to published reports and they also are talking to the IBT so just hope ( pray ) that they yield something positive. A stop gap of some measure has to be worked out because of this bond problem.
Ultimately the labor agreement has to be in place for the refinancing to happen.
THERE IS NO HIDDEN MONEY!!!!!!!! Will you please get off this kick. Does anyone know what ABF is paying into the pension???? ---------$12 and change!!!!!!!!!! Do the arithmetic will you please!!!!!!!
AS soon as I saw the non-cdl pay freeze and the 6% subcontracting and knew that there was no way this was going to pass. They pay these guys millions and then this is the plan they develop. I'd be asking for a refund.
There is nothing I hate more than going into a customer who I built up friendships with and then basically lie to their face knowing that this will probably be it.
You guys just kill me. Kennesaw Kid knows I voted yes and I know he voted no and I'm not sitting here badmouthing the guy and he isn't me but go ahead if it makes you feel better.
I have worked with guys for years and all they have done is complain complain complain. Suddenly they are now worried that they may close. REALLY???? Or how about this clown "Shut her down" morning noon and night but he's retiring soon so he has it all figured out unemployment and when his checks start. Do you think he cares about anyone else other than his own sorry ass that may need this job? I DOUBT IT.
But hey let's hope something good comes out them talking.
See you.