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New Penn | merger termination letter Fax 08/22/09

Jeff

Jeff

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Telling you the reality that banks demand full compliance or their deal to furnish funding to YRC is null and void is not a threat, its call informing the uninformed.A no vote leaves YRC no option other than to fold NP into YRC to obtain the financing.I dont like it anymore than you but I live in the real world and sometimes that means accepting the hard truth.
 
lucky7 said:
Telling you the reality that banks demand full compliance or their deal to furnish funding to YRC is null and void is not a threat, its call informing the uninformed.A no vote leaves YRC no option other than to fold NP into YRC to obtain the financing.I dont like it anymore than you but I live in the real world and sometimes that means accepting the hard truth.
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Then you should post the hard truth. I want someone to show me ANY letter from the banks demanding full participation!
Everyone seems to know what the banks are saying, Well where is it?
 
lucky7 said:
Telling you the reality that banks demand full compliance or their deal to furnish funding to YRC is null and void is not a threat, its call informing the uninformed.A no vote leaves YRC no option other than to fold NP into YRC to obtain the financing.I dont like it anymore than you but I live in the real world and sometimes that means accepting the hard truth.
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I quote: Plan can be terminated if "Funds representing 90% of the employers' collective monthly contributions to the Funds do not enter into a non-permanent pension contribution termination period arrangement with the employers"
Now, don't you think there was a reason they wanted 90% and not 100%? Maybe just incase everyone did not ratify the MOU.
don't tell me the banks pull the plug if its not 100%
 
lucky7 said:
Telling you the reality that banks demand full compliance or their deal to furnish funding to YRC is null and void is not a threat, its call informing the uninformed.A no vote leaves YRC no option other than to fold NP into YRC to obtain the financing.I dont like it anymore than you but I live in the real world and sometimes that means accepting the hard truth.
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Why do the banks care,they can just get a little more bailout money.:biglaugh::biglaugh:I don`t believe it was us the rank and file that put us in this mess.Who gave YRCW the money to buy, the banks not us.Now they want thier behinds saved at who`s expense,ours not thiers.When will this bullshit end!
 
NewPenn107 What I quoted was from Pres.H."The banks are sitting on 200 million dollars of operating capital until this gets settled".You were there you heard it,your starting to loose credability.
 
lucky7 said:
NewPenn107 What I quoted was from Pres.H."The banks are sitting on 200 million dollars of operating capital until this gets settled".You were there you heard it,your starting to loose credability.
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Credibility? You are the one Quoting people. Then when you are asked about it. You say you are paraphrasing.
The banks are sitting on all of YRC's finances. Thats not the question. The question was.. Where is any letter or offical statement that the banks want 100% participation or they will pull the plug on yrc?
Let me give you this quote from pres H. since you like quoting him. "There have been no offers to buy newpenn, (how would he know?)The banks won't let YRC sell newpenn since its the only viable asset for YRC" thats what he said when asked about buyers for newpenn. Yet we also get told that the banks will pull the plug if newpenn doesn't get the vote correct. So who do we believe anymore?? Too many lies from all sides, YRC, IBT, NEWPENN
 
Rule 3. Do not resort to childish name calling if someone has a view you do not agree with, attack the subject of a post, not the one who posted it.
:popcorn:
 
Im sorry Benny, I dont see any name calling going on by myself or NP107. To say someone is losing credability is a statement of fact not name calling.
 
No problem, just throwing it out there just in case. This is a very serious subject for you guys to discuss/debate and I only want to insure that everybody keeps it some what civil, that's all. Carry on you guys are doing great, thank you.
 
lucky7 said:
Im sorry Benny, I dont see any name calling going on by myself or NP107. To say someone is losing credability is a statement of fact not name calling.
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Benny, If I thought Lucky7 was really an :eck13: I would stand on the bench at work and tell him to his face. Then I would :nutkick:

:biglaugh: :biglaugh: Sometimes I crack myself up!!!
 
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