Discussion in 'YRC Freight' started by demastus, Nov 11, 2013.
Is There Any Hope Left for YRC Worldwide? - DailyFinance
Quote from Daily Finance
"So can YRC be saved?
How to drive YRC out of the ditch
Actually ... maybe ... yes. It's a bit of a Hail Mary, but I see at least one scenario in which the company could actually make it out of this financial highway pileup, and emerge intact on the other side.
Consider: According to YRC, the $150.9 million it currently pays in annual interest exceeds the $92.6 million in interest obligations paid by "all [of its] competitors combined." Con-Way , for example, sports a debt load about half of YRC's, yet pays only about one-third as much in interest on that debt. Old Dominion Freight has 12% the debt of YRC, but only 7% of the interest expense.
If YRC can renegotiate its debt reduce the overall size of the debt, and/or to obtain interest rates similar to what its competitors pay, it might save as much as $60 million in interest payments annually. That alone would suffice to turn the company's projected $50 million fiscal 2013 loss into a small profit."
This is why we need to give the company and union, at least a chance, to negotiate!
This would require voting "yes" on the consensus vote.
If you don't like what comes from the negotiations, you can always, vote "No" then.
If the current management is in place,No .It's like pissing in to the wind.Nuff said.
The consensus vote is more for the Banks edification.
They are more likely to approve lower interest rates, if, they see we are willing to, at least, negotiate.
You mean bend over and take it like a good Teamster? This company is so ****ed up and pisses away money faster than a drunk sailor. Until they admit they are the problem and give some guarantees about give backs and wasteful spending they can pound sand. They absenteeism thing is a joke. If you ask my we should get every bank holiday off.
But, the only way for that to happen is a yes vote on the consensus, then, the negotiations can take place.
I, for one, would insist on no more executive bonuses, until, we are profitable again!
309 YRC Chicago
-15% less hope .
I don't buy this lets vote yes then see what we get mentality. To use a line from the great move Goodfellas "**** you, Pay me". I don't like being led around by the nose and them saying vote yes then we will talk is bull. Talk then we will vote. If they couldn't see at least two months ago the were heading off the rails then they are not fit to run a five dollar ***** house. Now a few days before the banks need to know we are calling emergency meeting and there is hand ringing and gnashing of teeth. They can blow it out their ass. We should have been negotiating instead they waited till the eleventh hour to see if we would blink first.
They knew they would have to refinance when the second vote took place. They have been shoving sunshine up our arses for years now telling us how we are turning it around. They can go pound sand.
As a former drunken sailor I take offense. I stopped spending when the money was gone. And I didn't beg the navy for more money so I could continue to spend.
This proves that even a drunken sailor has more sense than YRCs management.
God bless you brother, that is how we did in the army. When we ran out of pay, we begged a lift back to the post.
Kinda sounds like Pelosi, We have to approve the bill to find out what's in it! LOL