New Penn For Sale???

Discussion in 'New Penn' started by ella, Nov 11, 2008.

  1. ella

    ella Member

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    Anyone else "hear" anything?
     
  2. ctroadrunner

    ctroadrunner Member

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    Please enough with the bs.
     
  3. Slingshot

    Slingshot New Member

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    It may be bs, but it would be the best thing that could happen to New Penn. Go back to the way it was.
     
  4. Quietman

    Quietman New Member

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    Everything is always for sale you just have to have the right amount of money to get someone to part with what they have. As for going back to the way it was that will never happen realize that. A sale could give us a new and longer life but a new owner would want us to run their way.
     
  5. ella

    ella Member

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    TY for your response. I do indeed see the possible benefits as well as the drawbacks. All things change. To become complacent is ignorance. Ty again
     
  6. dumpman

    dumpman Member

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    new penn will keep treading water until cut loose by the "mother ship" times have changed in the ltl frt industry. no more loyalty we lost that in 2001 when arnold sold out to roadway corp.
     
  7. dumpman

    dumpman Member

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    new penn will keep treading water until spun off or taken down by the mother ship. times have changed since the arnolds sold out to roadway corp.
     
  8. eddielionhead

    eddielionhead New Member

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    yellow needs money

    salesman from ups freight said this week one of yrc company is going to be sold. I hope it,s new penn. yellow is to far deep in depth, plus a real bad economy:d6625240:
     
  9. imported_fathertrucker

    imported_fathertrucker Member

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    Salesman know very little about what is actually going on. I would be very careful with what they tell you. They hear so much BS on the street that they can't even remember where they heard half their nonsense.

    YRCW will sell NPME if they can. They would sell all the regionals if they could. But with the stock under $4 they won't get enough money for it compensate them for losing the cash contribution they make.
     
  10. ctroadrunner

    ctroadrunner Member

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    And your expert opinion is based on what ?
     
  11. rugrunner

    rugrunner Member

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    ABF said they are looking to possible make a purchase of a company that has the right fit.
     
  12. owlpuss

    owlpuss Member

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    maybe dhl will buy. no they are going out in the usa . your better with the abf purchase.
     
  13. owlpuss

    owlpuss Member

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    plus abf will save a lot of money on paint green and orange never matched,
     
  14. eddielionhead

    eddielionhead New Member

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    dockmen know little about company,s for sale but six months before roadway purchase new penn .they knew about the deal and that my freind,s is fact.
     
  15. MONTANANY

    MONTANANY Member

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    So the Dockmen knew?! Man am I talking to the wrong people!!

    There is an element of truth in all rumors...........figuring out that truth is the tough thing. ABF having interest in New Penn would make sense: both teamster, both underfunded pensions......then in X # of years, they could go "Big Brown"!!
     
  16. 2631

    2631 Member

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    What pension funds are not underfunded? It's my understanding that all pension funds, union, non union, multi employer & single employer, have taken a big hit in the past couple of months. I heard from our pension administrator that the single employer pension funds are in far worse shape than the MEPFs.
     
  17. MONTANANY

    MONTANANY Member

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    What I am speaking of it the Central States Pension fund that is the majority holder (or administrator - please correct me if my working is incorrect) for the Teamsters. This is what UPS bought out of so they are their own pension group and I believe their own bargaining group. This ends up as a large liability for the carrier. Now this does really stink for those that have put in 20-30 years and may have a risk of not getting out what they are due.
     
  18. 2631

    2631 Member

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    I don't know the exact amount, but I don't think that very many New Penn Teamsters are even in the Central States Fund
     
  19. Skeeter

    Skeeter Well-Known Member

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    Working for UPSF myself if a salesman said that it's got to be true. :hysterical:
     
  20. Skeeter

    Skeeter Well-Known Member

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    Hopefully it's UPSF (Overnite) :popcorn:
     

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