Discussion in 'New Penn' started by ella, Nov 11, 2008.
Anyone else "hear" anything?
Please enough with the bs.
It may be bs, but it would be the best thing that could happen to New Penn. Go back to the way it was.
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.
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
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.
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.
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:
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.
And your expert opinion is based on what ?
ABF said they are looking to possible make a purchase of a company that has the right fit.
maybe dhl will buy. no they are going out in the usa . your better with the abf purchase.
plus abf will save a lot of money on paint green and orange never matched,
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.
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"!!
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.
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.
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
Working for UPSF myself if a salesman said that it's got to be true.
Hopefully it's UPSF (Overnite)