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Yellow | Lawyer's on the move already ??

Does anyone remember when the giveback s--- started and the original MOU was implemented (10% giveback), we all got YRC stock as a trade off?

Then the stock "tanked" and they reverse split it and our "shares" became worthless? How many Shares did we each get? It should be within the time frame on the claim form, it is a actual YRC stock claim, it was fraud and should have some value to it, right?

I don't see why we all can't claim it, we just need more details (dates, number of stocks, stock value at that time, time frame of issue and split etc.)
 
the Dime said:
Does anyone remember when the giveback s--- started and the original MOU was implemented (10% giveback), we all got YRC stock as a trade off?

Then the stock "tanked" and they reverse split it and our "shares" became worthless? How many Shares did we each get? It should be within the time frame on the claim form, it is a actual YRC stock claim, it was fraud and should have some value to it, right?

I don't see why we all can't claim it, we just need more details (dates, number of stocks, stock value at that time, time frame of issue and split etc.)
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How is any of that fraud? Dumb business decision to borrow funds to over pay for the purchase of other companies just before an economic downturn. Dumb doesn't equate to fraud.

PS - Reverse split didn't change the value of your holdings. It just allowed the share price to maintain a minimum level required for exchange listing.
 
It sure looked like they knew what they were doing, handing out stock that they knew would dilute the stock price then taking action to remove the dilution of stock. The stock we got was not on the market, it was new issue that could be erased with the reverse split. They didnt buy that stock we received, they just made it up out of nothing.
 
If a couple hundred of us put in a claim for the same thing, maybe the lawyers would dig deeper into this claim and find out something we missed.

Maybe it is, maybe it isn't why not get some experts on our side and see if something comes of it?
 
the Dime said:
It sure looked like they knew what they were doing, handing out stock that they knew would dilute the stock price then taking action to remove the dilution of stock. The stock we got was not on the market, it was new issue that could be erased with the reverse split. They didnt buy that stock we received, they just made it up out of nothing.
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Any time a corporation issues new shares, that action has the effect of diluting the value of shares already issued. That's well known by anyone with minimal knowledge of finance. You say they then took action to remove that dilution. Would you care to explain how you come to that conclusion? Also the value of any newly issued shares were not erased by the reverse split. The value of anyone's holdings are absolutely not affected by a split. If you had 10 one dollar bills in your hand the total value is ten dollars. If you exchanged those ten singles for a single ten dollar bill you still have a value of ten dollars.
 
The shares are only worth what they are worth. But sure, try suing them for fraud. It'll tangle them up in court, cost them a bunch of money, they will still win, and they will have another excuse to keep the pay down because "those uncooperative Teamsters" cost them a bunch in legal fees.

Why are so many people so intent on burying YRCW? You're finally getting new equipment, the company is legitimately getting financially healthier, and all some of you seem to be thinking is that now is the time to get out the knife and gut them because "I want my money first." I suppose your 12+ year old equipment with it's high maintenance costs and the threat of the DOT pulling the plates off everything isn't important since you want your money now.

Maybe let them patch the leaky boat instead of making new holes? You may not agree with everything they do, but your benefits package is the best in the business even if your take home pay isn't.

The Titanic, as doomed as it was, stayed afloat longer than it was supposed to because the underpaid men working down below worked their asses off to try and save the ship. The death toll would have been much higher had they all followed orders and abandoned ship. They were told Titanic would sink, by her designer. The engineers stood defiantly against the Atlantic Ocean for an hour longer than expected...and the last lifeboats left the ship just minutes before it went down. The flooding of the ship was actually under control until just minutes before it went under...the result of a watertight bulkhead collapsing, flooding a dry part of the ship.

YRC is not nearly in as poor condition as Titanic. YRC can be saved, along with several thousand union jobs. But a big financial hit runs the risk of setting back ten years of slow progress. By all means, be upset about the circumstances you're working under...but don't sabotage it now. Because sure, you can find another job easily...and the take home pay might even be better...but it's highly unlikely that it will be a union job with benefits like what you have. Dr. Winteroff can't help you at Old Dominion or FedEx. You can't grieve the loss of a run to shiny wheels. You have to build and break your sets, and fuel your truck. Even put your trailers away. You're expected to work the dock. And when your knees finally give up, you'll be on the hook for part of the surgery.

Think long and hard before you take aim at YRC. There's a lot of feet, including your own, in the way. They're not the greatest company in the world...but you don't work at Central Transport, either. The mighty have fallen, but that doesn't mean you can't help. Yellow and Roadway were great because of the rank and file doing a damn good job in spite of management mistakes.
 
They’ve had 10 years. And you know what I think sticks in everyone’s craw? It’s that they have taken really good care of themselves during this time. Top execs get huge bonuses for losing less money than they were predicted to lose. Lower level management got all their vacation time back and they got raises too. People might be more receptive to a “lesser offer” if there was at least the perception that “their side” was sacrificing as much as the union members were.
 
Canadian Flyer said:
The shares are only worth what they are worth. But sure, try suing them for fraud. It'll tangle them up in court, cost them a bunch of money, they will still win, and they will have another excuse to keep the pay down because "those uncooperative Teamsters" cost them a bunch in legal fees.

Why are so many people so intent on burying YRCW? You're finally getting new equipment, the company is legitimately getting financially healthier, and all some of you seem to be thinking is that now is the time to get out the knife and gut them because "I want my money first." I suppose your 12+ year old equipment with it's high maintenance costs and the threat of the DOT pulling the plates off everything isn't important since you want your money now.

Maybe let them patch the leaky boat instead of making new holes? You may not agree with everything they do, but your benefits package is the best in the business even if your take home pay isn't.

The Titanic, as doomed as it was, stayed afloat longer than it was supposed to because the underpaid men working down below worked their asses off to try and save the ship. The death toll would have been much higher had they all followed orders and abandoned ship. They were told Titanic would sink, by her designer. The engineers stood defiantly against the Atlantic Ocean for an hour longer than expected...and the last lifeboats left the ship just minutes before it went down. The flooding of the ship was actually under control until just minutes before it went under...the result of a watertight bulkhead collapsing, flooding a dry part of the ship.

YRC is not nearly in as poor condition as Titanic. YRC can be saved, along with several thousand union jobs. But a big financial hit runs the risk of setting back ten years of slow progress. By all means, be upset about the circumstances you're working under...but don't sabotage it now. Because sure, you can find another job easily...and the take home pay might even be better...but it's highly unlikely that it will be a union job with benefits like what you have. Dr. Winteroff can't help you at Old Dominion or FedEx. You can't grieve the loss of a run to shiny wheels. You have to build and break your sets, and fuel your truck. Even put your trailers away. You're expected to work the dock. And when your knees finally give up, you'll be on the hook for part of the surgery.

Think long and hard before you take aim at YRC. There's a lot of feet, including your own, in the way. They're not the greatest company in the world...but you don't work at Central Transport, either. The mighty have fallen, but that doesn't mean you can't help. Yellow and Roadway were great because of the rank and file doing a damn good job in spite of management mistakes.
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Very intelligent, very well stated post. :1036316054:
 
Canadian Flyer said:
The shares are only worth what they are worth. But sure, try suing them for fraud. It'll tangle them up in court, cost them a bunch of money, they will still win, and they will have another excuse to keep the pay down because "those uncooperative Teamsters" cost them a bunch in legal fees.

Why are so many people so intent on burying YRCW? You're finally getting new equipment, the company is legitimately getting financially healthier, and all some of you seem to be thinking is that now is the time to get out the knife and gut them because "I want my money first." I suppose your 12+ year old equipment with it's high maintenance costs and the threat of the DOT pulling the plates off everything isn't important since you want your money now.

Maybe let them patch the leaky boat instead of making new holes? You may not agree with everything they do, but your benefits package is the best in the business even if your take home pay isn't.

The Titanic, as doomed as it was, stayed afloat longer than it was supposed to because the underpaid men working down below worked their asses off to try and save the ship. The death toll would have been much higher had they all followed orders and abandoned ship. They were told Titanic would sink, by her designer. The engineers stood defiantly against the Atlantic Ocean for an hour longer than expected...and the last lifeboats left the ship just minutes before it went down. The flooding of the ship was actually under control until just minutes before it went under...the result of a watertight bulkhead collapsing, flooding a dry part of the ship.

YRC is not nearly in as poor condition as Titanic. YRC can be saved, along with several thousand union jobs. But a big financial hit runs the risk of setting back ten years of slow progress. By all means, be upset about the circumstances you're working under...but don't sabotage it now. Because sure, you can find another job easily...and the take home pay might even be better...but it's highly unlikely that it will be a union job with benefits like what you have. Dr. Winteroff can't help you at Old Dominion or FedEx. You can't grieve the loss of a run to shiny wheels. You have to build and break your sets, and fuel your truck. Even put your trailers away. You're expected to work the dock. And when your knees finally give up, you'll be on the hook for part of the surgery.

Think long and hard before you take aim at YRC. There's a lot of feet, including your own, in the way. They're not the greatest company in the world...but you don't work at Central Transport, either. The mighty have fallen, but that doesn't mean you can't help. Yellow and Roadway were great because of the rank and file doing a damn good job in spite of management mistakes.
Click to expand...
great post CF
 
Canadian Flyer said:
The shares are only worth what they are worth. But sure, try suing them for fraud. It'll tangle them up in court, cost them a bunch of money, they will still win, and they will have another excuse to keep the pay down because "those uncooperative Teamsters" cost them a bunch in legal fees.

Why are so many people so intent on burying YRCW? You're finally getting new equipment, the company is legitimately getting financially healthier, and all some of you seem to be thinking is that now is the time to get out the knife and gut them because "I want my money first." I suppose your 12+ year old equipment with it's high maintenance costs and the threat of the DOT pulling the plates off everything isn't important since you want your money now.

Maybe let them patch the leaky boat instead of making new holes? You may not agree with everything they do, but your benefits package is the best in the business even if your take home pay isn't.

The Titanic, as doomed as it was, stayed afloat longer than it was supposed to because the underpaid men working down below worked their asses off to try and save the ship. The death toll would have been much higher had they all followed orders and abandoned ship. They were told Titanic would sink, by her designer. The engineers stood defiantly against the Atlantic Ocean for an hour longer than expected...and the last lifeboats left the ship just minutes before it went down. The flooding of the ship was actually under control until just minutes before it went under...the result of a watertight bulkhead collapsing, flooding a dry part of the ship.

YRC is not nearly in as poor condition as Titanic. YRC can be saved, along with several thousand union jobs. But a big financial hit runs the risk of setting back ten years of slow progress. By all means, be upset about the circumstances you're working under...but don't sabotage it now. Because sure, you can find another job easily...and the take home pay might even be better...but it's highly unlikely that it will be a union job with benefits like what you have. Dr. Winteroff can't help you at Old Dominion or FedEx. You can't grieve the loss of a run to shiny wheels. You have to build and break your sets, and fuel your truck. Even put your trailers away. You're expected to work the dock. And when your knees finally give up, you'll be on the hook for part of the surgery.

Think long and hard before you take aim at YRC. There's a lot of feet, including your own, in the way. They're not the greatest company in the world...but you don't work at Central Transport, either. The mighty have fallen, but that doesn't mean you can't help. Yellow and Roadway were great because of the rank and file doing a damn good job in spite of management mistakes.
Click to expand...
Not for nothing but 10+ years to "Right the boat" seems a tad bit too long! Seeing how management got their raises, Vacation, Stock bonuses and such.
It's a little bit one sided and thats what the main bitch is about.
 
who wants to work for a company that calls you racial slurs....and tell you to put your withdrawal card in when you tell your business agent about it....not i

do the right thing and make the best of your choices, unfortunately there are poor decision makers still remaining and should be replaced or have a long talk with about workplace rules like no racism....being called a white " " word is not a good workplace environment

at my new job none of what went on at yrc happens, no racial slurs, a breath of fresh wind, maybe it was for the best, good luck repacing your talent
 
bankersruntheworld said:
who wants to work for a company that calls you racial slurs....and tell you to put your withdrawal card in when you tell your business agent about it....not i

do the right thing and make the best of your choices, unfortunately there are poor decision makers still remaining and should be replaced or have a long talk with about workplace rules like no racism....being called a white " " word is not a good workplace environment

at my new job none of what went on at yrc happens, no racial slurs, a breath of fresh wind, maybe it was for the best, good luck repacing your talent
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Union doesn't want to discuss how much affirmative action and these frivolous discrimination lawsuits consent decrees hurt the company everything is whitey's fault.
 
LEHIGH vALLEY said:
Not for nothing but 10+ years to "Right the boat" seems a tad bit too long! Seeing how management got their raises, Vacation, Stock bonuses and such.
It's a little bit one sided and thats what the main bitch is about.
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I don't disagree. But burying the company ain't the way to get that money. You guys have earned a raise...I don't know if the union will back you up to get it, but you do deserve it.

Nobody is saying you shouldn't be pissed about the way things have gone. But there's a huge difference between being pissed and active sabotage of what progress has been made. 10 years is a long time for the progress they've made...but it'd be a much bigger loss if they fell now. They should have done better...but frankly they're the only carrier that has ever even come close to righting the ship after being almost bankrupt.
 
Canadian Flyer said:
. They should have done better...but frankly they're the only carrier that has ever even come close to righting the ship after being almost bankrupt.
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YRC accounting. Sorry, I shouldn't mention Preston again, but I've seen how Yellow works. They bought us so they could have our subsidy SAIA. They assigned the debt to us, and told us we could do a declining givebacks, and return to full scale. We agreed to 7%, then 5%, then 3%, and then fullscale. After 7, and 5, ExYellow VP/ then promoted to Preston Pres Leo Suggs came and told us "boys, this just wont work. We need a wage freeze". We took it, and got two more years of work. They declared us debt free (coincidentally, after the giveback equaled what YFC gave for Preston!) And, 14 months later, closed us down.

Frankly, I have no idea how YRC kept the doors open any of the past 10 years....
 
jimmy g said:
YRC accounting. Sorry, I shouldn't mention Preston again, but I've seen how Yellow works. They bought us so they could have our subsidy SAIA. They assigned the debt to us, and told us we could do a declining givebacks, and return to full scale. We agreed to 7%, then 5%, then 3%, and then fullscale. After 7, and 5, ExYellow VP/ then promoted to Preston Pres Leo Suggs came and told us "boys, this just wont work. We need a wage freeze". We took it, and got two more years of work. They declared us debt free (coincidentally, after the giveback equaled what YFC gave for Preston!) And, 14 months later, closed us down.

Frankly, I have no idea how YRC kept the doors open any of the past 10 years....
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Academy, Tony and Grammy; Best Played Shellgame.
 
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