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Yellow | IBT Response To Re-Vote Of Proposed MOU

Why not get back to work and do your job, I'm off so I can't do it for you like usual.

MI_Jarhead said:
I am sure that is going to happen, the regionals will get sold off which in the short term means YRC survives. But in the long term losing the money making regionals makes the YRC dinasaur model ripe for failure down the road. By by YRC and a bunch of teamster jobs. You are your own worst enemy and the under funded pensions due to the legacy requirements makes YRC NOT attractive to any purchasers of the business. Well done Teamsters, well done.
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How about not calling whatever proposal they present to us a revote.I hope to God we dont have to vote for the same thing.Only the wording changed

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roundrubber said:
This company needs to swallow the bitter pill , and sell off Holland and pay off its debt . Current upper level management are not only puppets to the banks but also not qualified to run all aspects of the companies under the YRC umbrella . Undo the mistakes of the previous management .
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Oh I so disagree with you. These people at YRC know EXACTLY what they're doing. All is going according to plan.
 
Imagine for a moment if the real target was not the current debt but the NMFA itself and unionized workforce. That are gutting it slowly and dividing, confusing or plain lying to us to achieve that goal. Then they would truly be able to compete in the market. The cost savings going forward would be huge. Just saying.
 
potchagalloop1 said:
Imagine for a moment if the real target was not the current debt but the NMFA itself and unionized workforce. That are gutting it slowly and dividing, confusing or plain lying to us to achieve that goal. Then they would truly be able to compete in the market. The cost savings going forward would be huge. Just saying.[/QUOTE
This is why we all should support the IBT when they take the position to not re-open the contract!
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potchagalloop1 said:
Imagine for a moment if the real target was not the current debt but the NMFA itself and unionized workforce. That are gutting it slowly and dividing, confusing or plain lying to us to achieve that goal. Then they would truly be able to compete in the market. The cost savings going forward would be huge. Just saying.
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Just because they went to college and have a degree does not make they super geniuses. There is some premeditation to their actions, but they are wishing, hoping, and making a lot of it up as they go. Just my two cents.
 
I think Welch and company are using some business tools to gain some capital without much help from the Teamsters(thats us).Kinda sorta without or with help from us.If we would have ratified that last extension.That wouldve been fine with Welch.He knew by throwing in some elements in the contract.That it mostly likely wouldve been shot down.All this is incredibly ingenious.By doing this.The stock fell to around 12.00dollars.That was the controlled drop floor that Welch was planning for.He didnt want it to drop too far below 12.00.so talks were not planned.Everyone thinks that BK is close.Suspenseful i know.Then some information was leaked on purpose.No talks planned.Teamsters are told to continue to do what we do.(Work).some info came out about finding investors.Which were already lined up and committed.We Teamsters play the line as if we are hanging on strong but still some doubts in the company's survival.Still alot of buying going on with our stock.Investors are all abuzzmSome analyst had our stock up to 100 to 150dollars after a planned MUO was anticipated to roll out.We knew there would be.So things were a little quiet(so to speak)between the Union and the company.(not really but sssh be quiet).So just the other day a planned annoucement was made.That we were engaging in some dialogue.Then wal la the announcement came that a tentative agreement was reached.What do you know the stock climbs a couple dollars and some change.All good so far.So far the story isnt over.YRCW intends to gain more in buyers buying our stock.Short it or sell it as is doesnt mattee.The company has the money coming and going.Stay tuned for more exciting news

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Don't bet on that theory manipulating stock prices is a criminal offense even a hit of that will have the SEC all over them.
 
What bothers me is the idea of the lender being a swiss bank. Credit Suisse is a swiss bank. How much collateral is deposited in that bank? This is more like the shell game. 3 billion dollars in savings, 25000 less employee's and everyone making money except Yellow...
And then you have the Zacks Equity Research report that states they clearly don't believe in the negativity surrounding this firm. Imagine what an accomplishment another 3 billion dollars in savings would be?
No more yes vote
Not hard to figure what's going on with YRC.
 
cocostar said:
What bothers me is the idea of the lender being a swiss bank. Credit Suisse is a swiss bank. How much collateral is deposited in that bank? This is more like the shell game. 3 billion dollars in savings, 25000 less employee's and everyone making money except Yellow...
And then you have the Zacks Equity Research report that states they clearly don't believe in the negativity surrounding this firm. Imagine what an accomplishment another 3 billion dollars in savings would be?
No more yes vote
Not hard to figure what's going on with YRC.
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Collateral deposited in a Swiss bank? You think there are YRC tractors and trailers hidden away somewhere in Switzerland? Please tell us what you think is REALLY going on.
 
You don't get money for nothing and worn out equipment isn't going to cut it. That money wasn't lent on equipment. What is the collateral if there is no principle present in the swiss bank? And what was the return on the money when the company was paying such a high interest on the loan? We could go on and on with this.
Did anyone ever get a report by the union auditors that were suppose to be watching yellows books? That was what I was told was going to be going on the last 4 years? How much were these auditors being paid by the union for no reporting?
Excuse me if I have my story wrong maybe I'm just uninformed? Has Yellow ever shown a profit?
Why not do what was once recommended and dump the negative approach on profit by deduction and take a positive step forward like some of the successful carriers that they have accumulated? To easy to cheat with a monster international corporation and when it comes down to men and money you can't trust them any farther than you can see them. Not in China, not in Switzerland and not in the USA.
Don't bother with the cheap shot worthless replies. I was under the impression this was an intelligent forum.
 
Yellow has been gone a long time, I'm sure at some point they showed a profit but YRCW has not in recent years.
It's a publicly traded company you don't need a separate auditor to look at the books just read the SEC filings and the annual report.
Collateral would be liens against any asset owned be it real estate, equipment or office furniture the banks do not keep it in a vault until the loan is aid off.
If you buy a car and take out a loan to pay for it does the bank keep the car until it's paid off?
 
cocostar said:
You don't get money for nothing and worn out equipment isn't going to cut it. That money wasn't lent on equipment. What is the collateral if there is no principle present in the swiss bank? And what was the return on the money when the company was paying such a high interest on the loan? We could go on and on with this.
Did anyone ever get a report by the union auditors that were suppose to be watching yellows books? That was what I was told was going to be going on the last 4 years? How much were these auditors being paid by the union for no reporting?
Excuse me if I have my story wrong maybe I'm just uninformed? Has Yellow ever shown a profit?
Why not do what was once recommended and dump the negative approach on profit by deduction and take a positive step forward like some of the successful carriers that they have accumulated? To easy to cheat with a monster international corporation and when it comes down to men and money you can't trust them any farther than you can see them. Not in China, not in Switzerland and not in the USA.
Don't bother with the cheap shot worthless replies. I was under the impression this was an intelligent forum.
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You're just a bit confused. The "collateral" for the bank loans is the company itself and its ability to produce earnings. Bonds are issued and sold and they represent debts of the company. The company doesn't put up any "collateral" in the sense of something tangible like equipment, etc.

You're correct about this being an intelligent forum (well at least for most but not necessarily all on here). Try to get a better understanding yourself since it seems you are slightly confused about this "collateral" issue.
 
Talking to the two of you is like talking to the moon. I could wonder just exactly where your position is. I never said a word about equipment as collateral, you did! MONEY is what I'm talking about!
Yellow does not own real estate, it leases real estate. Is that what you wanted me to tell you?
And what about the China extravaganza?
I'm talking about money laundering and cooking two sets of Books. How are you successful enough to buy 5 successful companies at a time and not capable of profit yourself? How do you restructure and sell off all the secessful companies assets you accumulated through purchass, cut half your work force, asked for and get 3 billion in concession from your faithful and hard working employees that barly average a living wage, attempt to buy and liqudate another company, then come back and play failure to the IRS and the employees after 4 years in the mist of an economic boom? Good stinking lies going on somewhere.
Every board member in this company needs to go to prison with a number of past and present CEO's. The IRS needs to do a 10 year audit of this whole corporation and some corporate laws need to change!
Its amazing how our military industrial government ever let greedy corporation get this far.
 
If you have cash to give to the banks to hold as collateral why would you take out a loan?

They got the loans and bought the companies using the bought companies assets as collateral, early on JP Morgan held all the titles and deeds. When we sold a piece of equipment they had to ok the release of the title.
It's a publicly traded company there are no cooked books hidden money or nefarious operations going on, it is what it is another trucking company going down the drain.

The China operations is/was a partnership that I'm not even sure we are still involved with, but if I remember correctly they have/had less them 100 mil invested.
 
On August 19, 2008, we completed the purchase of a 65% equity interest in Shanghai Jiayu Logistics Co., Ltd. (“Jiayu”), a Shanghai, China ground transportation company with a purchase price of $59.4 million . Through March 31, 2010, we accounted for our 65% ownership interest in Jiayu as an equity method investment as the rights of the minority shareholder were considered extensive and allowed for his ability to veto many business decisions. These rights were primarily provided as a part of the General Manager role held by the minority shareholder. Effective April, 1, 2010, the minority shareholder no longer had a role in managing the operations of the business which changed the conclusions from an accounting perspective regarding the relationship of this joint venture and required that we consolidate Jiayu in our financial statements effective April 1, 2010. The results of operations for Jiayu were included in our ‘Corporate and other’ reporting segment from April 1, 2010 to February 29, 2012. In an effort to focus on our core operations, we entered into an agreement in March 2012 to sell our 65% equity interest in Jiayu to the minority shareholder. The transaction closed during the fourth quarter of 2012. At the time the agreement was entered into, management control was passed to the minority shareholder and, as a result, we deconsolidated our interest in Jiayu during March 2012 and returned to accounting for our ownership interest as an equity method investment. Based on the March 2012 agreement, we recorded our equity method investment at its estimated fair value of $0 and wrote off a $12.0 million note receivable from Jiayu. After consideration of the non- controlling interest and other factors, we recognized a loss of $4.2 million upon the deconsolidation of our investment during 2012 . Additionally, the noncontrolling interest was allocated a $4.2 million gain on this transaction


Hope this helps, Wrench97.
 
cocostar said:
Talking to the two of you is like talking to the moon. I could wonder just exactly where your position is. I never said a word about equipment as collateral, you did! MONEY is what I'm talking about!
Yellow does not own real estate, it leases real estate. Is that what you wanted me to tell you?
And what about the China extravaganza?
I'm talking about money laundering and cooking two sets of Books. How are you successful enough to buy 5 successful companies at a time and not capable of profit yourself? How do you restructure and sell off all the secessful companies assets you accumulated through purchass, cut half your work force, asked for and get 3 billion in concession from your faithful and hard working employees that barly average a living wage, attempt to buy and liqudate another company, then come back and play failure to the IRS and the employees after 4 years in the mist of an economic boom? Good stinking lies going on somewhere.
Every board member in this company needs to go to prison with a number of past and present CEO's. The IRS needs to do a 10 year audit of this whole corporation and some corporate laws need to change!
Its amazing how our military industrial government ever let greedy corporation get this far.
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I think someone forgot to take their medications. China extravaganza, hahaha! Read above. It's on page 59 of the 2012 annual report.
 
I thought I remembered reading they sold the interest they had in China but but second guessed myself after running across JHJ International which looks to be a different company and seeing the YRC Logistics banner on their wed site, It appears JHJ is connected to MIQ Logistics(Do we still own part of that?*).

Looks like we sold most or all of YRC Logistics in 2010> YRC Logistics Rebranded as MIQ Logistics | Transport Topics Online | Trucking, Freight Transportation and Logistics News

Links
YRC sells stake in Shanghai Jiayu Logistics Co. Ltd > YRC dumps holding in Chinese trucker joint venture – DC Velocity
Shanghai Jiayu Logistics Co. Ltd> Welcome to Shanghai Jiayu Logistics Co., Ltd.(
JHJ Logistics> JHJ| JHJ History
MIQ Logistics> About MIQ Logistics
 
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