Yellow | Is it just a matter of time?
- Thread starter runawaytrain
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runawaytrain
Wear their scorn with pride.
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Fair enough. I'm out.
Well every 3 months this pig posts more losses. yrc couldnt make a nickel if they were hauling truckloads of quarters
bigtruk_us
TB Legend
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Good news.Walmart named yrc freight one of 12 best carriers
mysticobra
Over Here Now.
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Sorta like a blue light special.
. Whoop dedoo.
clydesdale
TB Veteran
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It looks like to me that YRCW corporation is taking a play right out of Conway,CF hand book....You build up your regional carriers with the best accounts and highest paying freight.Then when you are sure the national carrier(yrc freight)is weak and cant survive ,You spin them off to die taking most of the debt with it.Then you go back in with your regioanls and pick up as much of that left over freight as possible .Conway use to be 4 separate regional carriers before it just became Conway. then maybe UPS comes in and buys a little to debt free company. Just like when XPO bought Conway. UPS only made 1,6 billion in the 1st qt of 2017 Regional freight is a myth used to control companies,workers and drivers!
So runaway, do you have some inside information on YRC or do you just enjoy talking smack on the YRC thread? Maybe someone would like to go to the Saia thread or you're former employer Central Transportation and talk s**t.
For maybe the 6th time. Yrcw cannot, spin off, or have the debt just suddenly go away and operate the regionals because the entire debt is tied to all 4 companies operating under the YRCW flag...
mysticobra
Over Here Now.
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Just tell em it's all or nothing.
I understand what your saying.
Whatever can be tied can be untied.
runawaytrain
Wear their scorn with pride.
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I'm just asking simple questions. I'm not talking :
: !! There is absolutely no reason to become defensive. I realize now this is a touchy topic so I have agreed to step away. Please let me do so. BTW I never worked for Central Transport. I worked for Vitran and once the buyout took place I was out of that hell hole.
runawaytrain
Wear their scorn with pride.
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OD sales people and drivers here been going around telling customers it could be any day for you guys to go out of business and do they want their freight caught up in the closure when it happens? Anything to get a skid on our trucks. I won't play that game.
FedEx did it too, back in 09 and 10. I recall OD may have practiced as well, then.
Apparently no one listens to them.
"YRC Freight tonnage rose 3.4% and shipments per day increased 2.1%"
I see that Overtime Deprived sales people are just as slimy as their management
Canadian Flyer
They Call Me CF, Eh
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Well, I can only speak for Holland, but I don't think the ship is sinking as fast as everyone thinks it is.
I hauled a 535-series Holland trailer with almost 44,000lbs of drums on board today. For being over a decade old, the trailer was in better shape than anything I pulled at FedEx dating back that far. It took the load well, didn't complain or break down. It just kept on rolling from beginning to end.
Holland pushes enough freight volume to sustain things. And despite the aging equipment, it's not as poor as it looks. In fact, the only Holland trailers that I don't like are the 48' Wabash logistic post vans handed down from Yellow.
I hauled a 535-series Holland trailer with almost 44,000lbs of drums on board today. For being over a decade old, the trailer was in better shape than anything I pulled at FedEx dating back that far. It took the load well, didn't complain or break down. It just kept on rolling from beginning to end.
Holland pushes enough freight volume to sustain things. And despite the aging equipment, it's not as poor as it looks. In fact, the only Holland trailers that I don't like are the 48' Wabash logistic post vans handed down from Yellow.
Our sales people can't even sell used cars unless they're wearing a short skirt.
Snark Monkey
TB Veteran
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Was just listening to two friends from 211 talk about Drivers getting written up for going on the sick board even if they had sick time available to use. YRC would rather fight with their employees then move freight. Its just that simple.
No one wants to work in a hostile environment and certainly not for the lowest paid LTL company. I hear a few Guys are over due for termination, but the company won't fire them because the Company does not have anybody to replace them with. And yet Management still would rather pick fights.
Can you imagine going to work every day with that level of stress at your work?! Thanks but no Thanks!
Pitchfork_Smith
TB Lurker
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There's a lot I don't get about this company. Revenue and tonnage seems to be steady if not rising and I keep getting offered overtime, so somebody is making money somewhere. Nobody moves freight just to move freight.
In 2015 the company posted $700k (lol) in profit, the first year in the black since restructuring. In 2016, it was something like $21.5 million. (http://www.kansascity.com/news/business/article131084564.html) They also paid $70 million down on the debt, which seems like a lot until you remember that YRCW (not Freight, not regionals, but the holding/parent company) still has about $997 million (!!!) in total debt. (http://marketrealist.com/2017/02/how-is-yrc-worldwides-debt-stacked-among-peers-after-4q16/)
Overall, staying in debt seems like a great way to permanently plead poverty. The union has gone from adversary to a cost control mechanism--the IBT is so desperate to maintain a foothold in freight that the top brass will sacrifice over a decade of making any gains for members just to keep dues payers in the industry. Of course, this also prevents us from organizing any of the non-union, since they can just say "why would we want to be like YRC?" Not that I think the union is that committed or competent in freight organizing anyway (that's for another post).
Is YRCW planning on shutting the doors if there's any real pushback in 2019, more than another "vote until you get it right" scenario? What do the people who are still benefitting from its operation (banks? investors?) lose or gain if the doors close or if bankruptcy is declared?
What do we have to gain by keeping the doors open at YRCW at any cost? CDL jobs are everywhere. Non-union companies to be organized are everywhere. We are not saving CSPF by keeping YRCW open, considering they are barely even paying into it. And if the "Cadillac Tax" from Obamacare (and preserved in Trumpcare) hits, our healthcare is screwed anyway too.
I don't have any definitive answers, but I do know that there really isn't much to preserve by just extending the concessions yet again.
In 2015 the company posted $700k (lol) in profit, the first year in the black since restructuring. In 2016, it was something like $21.5 million. (http://www.kansascity.com/news/business/article131084564.html) They also paid $70 million down on the debt, which seems like a lot until you remember that YRCW (not Freight, not regionals, but the holding/parent company) still has about $997 million (!!!) in total debt. (http://marketrealist.com/2017/02/how-is-yrc-worldwides-debt-stacked-among-peers-after-4q16/)
Overall, staying in debt seems like a great way to permanently plead poverty. The union has gone from adversary to a cost control mechanism--the IBT is so desperate to maintain a foothold in freight that the top brass will sacrifice over a decade of making any gains for members just to keep dues payers in the industry. Of course, this also prevents us from organizing any of the non-union, since they can just say "why would we want to be like YRC?" Not that I think the union is that committed or competent in freight organizing anyway (that's for another post).
Is YRCW planning on shutting the doors if there's any real pushback in 2019, more than another "vote until you get it right" scenario? What do the people who are still benefitting from its operation (banks? investors?) lose or gain if the doors close or if bankruptcy is declared?
What do we have to gain by keeping the doors open at YRCW at any cost? CDL jobs are everywhere. Non-union companies to be organized are everywhere. We are not saving CSPF by keeping YRCW open, considering they are barely even paying into it. And if the "Cadillac Tax" from Obamacare (and preserved in Trumpcare) hits, our healthcare is screwed anyway too.
I don't have any definitive answers, but I do know that there really isn't much to preserve by just extending the concessions yet again.