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FedEx Freight | Questions & Comments for STC newsletter.

ol' man said:
I'm not sure what this means, whether a false hope or not, but between the end of the 1st quarter and last Friday, my 401 went up 13%.
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ol' man :clap:

You know everyone has an opinion.
Especially in the stock market,
you need a seller and a buyer.
Many think that we may just be seeing
a correction from an oversold situation like we had
on March 9th on a closing basis. Even though we had a
lower intraday low on March 6th.
There are many that think, or are looking for the market to retest that low
of March 9 and hold (not go any lower).
While these folks are waiting for this retest to commit fresh new money
the market may just keep climbing the proverbial "wall of worry".
On the other hand many would be happy to at least see the S&P
get down to the 750 range, before resuming a new cyclical bull.
Only time will tell.

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River17 said:
DayliteDean :clap:

I think what everyone is failing to see is that Obama is helping YRC via the back door. While YRC is asking for 1 billion dollars of TARP money thru the front door to help YRC pay the pension liabilities, Obama "owns" the banks (like JP Morgan Chase) that just yesterday "withdrew" that 45 million profit that YRC had to show this second quarter to stay within their covenants.
In other words Obama has leverage over the banks, (many that were FORCED)
to take TARP money and now they are being TOLD what businesses they are going to call the loans on. So if JP Morgan probably would like to liquidate YRC, they are not allowed to do so.
Just a thought, or a coincidence.

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I'd like to put YRC(and the rest of the LTL segment of our industry)into perspective as it relates sizewize to the US economy,and why I dont think the government is going to bail YRC(or any other freight hauler)out,and this is my opinion only;Our industry generated revenues of 35 billion dollars in 2007(using figures for'07 revenues fell slightly in'08)sound like a lot of money??Insurance,finance giant AIG lost 63 billion dollars last year,the fianance and leasing division of General Electric lost close to 40 billion.A division of GE lost more money than our entire industry generated!In fact EACH of the top 25 public corporations generat
ed more revenues than our entire industry!Exxon Mobil made more in profits than we had in total revenue.Dont get me wrong here,we're an important part of the economy,but motor freight is a cog in the machinery of our economy.
Political Influence;We don't have that much,our corporate offices are widely dispersed throughout the nation,as are the assets and employees of our companies,if a freight company closes its not like a auto plant with 5 to10,000 employees,plus the employees of the suppliers and vendors of that plant closing,local congressmen and senators are just not going to get terribly excited about a freight terminal with 25 to 200 employees closing,Even a breakbulk with 500 to 1000 employees closing might catch the attention of the congressman whose district its located in,The two senators of the state its in might not notice,YRC has 35,000 employees but they are'nt concentrated in one geographic location you lose a lot of influence as a result.These are just a couple of the reasons I don't think Washington is not going to come to YRC's(or any other freight companies)rescue.Riv17 thanks for this thread and all you for this forum:thumbsup:
 
sparky26 said:
The constitution is White House ::shit:: paper
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Is civics,or American gov't not taught in high school anymore?Other than guaranteeing free and unencumbered trade between states there is very little economic policy spelled out in our constitution! What people think is or isn't covered in the constitution is a constant source of amazement(and sometimes amusement)to me.If you're going to make remarks about such an important document,try reading it first.
 
Where is my Internet??

Sorry folks, but my Internet cable modem was broke down on the side of the road Friday night. The STC newsletter will be up ASAP Saturday morning, now that my Internet decided to fix itself.

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Did Obama target Chrysler dealers who contributed to the GOP ...

RED ALERT: Did anti-Obama campaign contributions dictate which ...
To quickly review the situation, I took all dealer owners whose names appeared more than once in the list. And, of those who contributed to political campaigns, every single one had donated almost exclusively to GOP candidates. While this isn't an exhaustive review, it does have some ominous implications if it can be verified.
RED ALERT: Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

Hmmm: Chrysler dealers shut down in Obama bankruptcy are mostly Republican?
I’m skeptical that this is as bad as it looks — it’d be politically suicidal, for no benefit greater than petty revenge — but consider it your must-read of the day. Don’t stop before the updates either or you’ll miss profitable dealers scratching their heads trying to figure out what mysterious sin they could have committed to warrant termination.
Hot Air » Blog Archive » Hmmm: Chrysler dealers shut down in Obama bankruptcy are mostly Republican?

Chrysler dealers that did not contribute to Obama - Google Search

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After looking at the list ...and the amt donated ...seems the dealers are (were) making money ...to put that kind of money out


Hmmmmmmm ......
 
slackdragon said:
After looking at the list ...and the amt donated ...seems the dealers are (were) making money ...to put that kind of money out


Hmmmmmmm ......
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slackdragon :clap:

There is more to the story, and they probably have not gotten to the bottom of it yet.
I heard one radio show yesterday that talked about this subject for over an hour, and had one dealer from Oroville, CA., called in, and said that they were getting shut down by "Chrysler" and did not donate to either party.
This dealer was saying that Chrysler wanted to get all dealers left to conform to certain standards by getting rid of the mom and pop smaller dealers.
No doubt we will be hearing more about this later.

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Did I read correctly .... fedex saying that buying Kinkos and national was a ... I'm going to have to re-read, but I think I understood what it was saying. Maybe I'll get a different view next time
 
slackdragon said:
Did I read correctly .... fedex saying that buying Kinkos and national was a ... I'm going to have to re-read, but I think I understood what it was saying. Maybe I'll get a different view next time
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slackdragon :clap:

I think that maybe the author of the article did think that FedEx overpaid for Kinko"s and now they have to take these write downs because the franchise value has come down. It is all part of this new accounting that they have to do to stay within the FASB rules. Same reason the big banks had to write down their net worth to ZERO, because of the toxic assets that they hold.
The 1.2 billion write down is all on paper and not an actual loss of money or revenue. It probably helps out on the taxes owed to Uncle Sam.

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Vitran added to STC index.

Werner (WERN) is being dropped from the 12 trucking companies index to add Vitran (VTNC) an LTL carrier.
About Vitran
Thomson Financial Business Description:
The Group's principal activities are to provide freight services and distribution solutions to a wide variety of companies and industries. The Group operates through three segments: Less-than-truckload, Truckload and Logistics. Less-than-truckload services are provided throughout Canada and the United States utilizing the infrastructure and exclusive partners. Truckload services include premium same-day and next-day truckload services in the United States Midwest. The Logistics provides distribution solutions that range from inventory consolidation to responsibility for the complete distribution function as well as highway and rail brokerage. It operates and in Canada and 29 states in the eastern, central, southwestern and western United States.

Vitran Corporation Inc. (Vitran) is a provider of freight surface transportation and related logistics services in Canada and in 29 states in the eastern, central, southwestern and western United States. The Company’s business consists of less-than-truckload services (LTL), logistics services and truckload services. These services are provided by stand-alone business units within their respective regions. The Company operates in three segments: LTL Services, Logistics and Truckload. Vitran’s business is carried on through its subsidiaries. The Company’s wholly owned subsidiaries as of December 31, 2008, include Vitran Express Canada Inc., Can-Am Logistics Inc., Vitran Logistics Ltd., Expéditeur T.W. Ltee, Vitran Corporation, Vitran Express Inc., R.A. Christopher Inc., Frontier Transport Corporation, Vitran Logistics Corp., Vitran Logistics Inc., Vitran Express West Inc., PJAX, Inc., and Las Vegas/L.A. Express, Inc

BTW: I could not even pull up the company's website.
So I hope they are still in business :biglaugh:

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More about Vitan

Since we can't follow privately owned carriers like Estes and many other LTLs left, we have to follow publicly traded carriers like Vitran (VTNC) to see how a smaller upstart carrier is doing amongst its peers.
finally got their website to work today :biglaugh:
Vitran

Vitran Express Home

Press

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Bankruptcy Can Result in Lower Pension Benefit

Bankruptcy Can Result in Lower Pension Benefit
The article on the protections afforded to pension benefits in bankruptcy was technically correct, but ... in many cases, the bankruptcy of an employer results in substantial reductions of pension benefits payable to retirees and to current employees when they retire. The reduction can occur if a defined-benefit plan is underfunded (as many are) and the plan is terminated during the course of the bankruptcy.
Our column last week, which looked at resources for retirees seeking traditional, defined-benefit pension payments from companies in bankruptcy, prompted an informative letter from Mr. Dichter, former senior bankruptcy partner at Cadwalader, Wickersham & Taft, a law firm in New York. Mr. Dichter also was involved in the Enron and Northwest Airlines bankruptcy cases.
Bankruptcy Can Lower Pension Benefit - WSJ.com

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Credit KK for finding this story.
 
River 17 :1036316054:

This is my 1,000 post ...and your newsletter gets it ..thanks

Reading that YRC is wanting to raid or stop the pension plans I remember when sun oil did that to JONES TRUCK LINES ...it was one of the last things they did ..after they sold off all the assets ... then raided the pension plan ... they folded
 
slackdragon said:
River 17 :1036316054:

This is my 1,000 post ...and your newsletter gets it ..thanks

Reading that YRC is wanting to raid or stop the pension plans I remember when sun oil did that to JONES TRUCK LINES ...it was one of the last things they did ..after they sold off all the assets ... then raided the pension plan ... they folded
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slackdragon :clap:

Thanks for your 1000th post and your support.
The STC Newsletter is averaging between 70 and 90 daily visitors and readers.
As for YRC, they have stopped sending their contributions to the different pension plans for 3 months now, to conserve enough cash flow to just make payroll and to buy fuel for their trucks.
I don't see how they will ever have enough profit leftover to make up the amount of money they are behind with the pensions.
Right now they are looking for the government to figure out how to pay the pensions for the folks that never even worked for YRC.
Time will tell what solution they find.

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WEEKEND EDITION

How Safeway Is Cutting Health-Care Costs
Market-based solutions can reduce the national health-care bill by 40%.
Unless you were hiding under a rock today, or you were stuck behind a desk, you probably heard about this story on AM Radio, XM Radio or TV from a least 5 or 6 different programs..
At Safeway we believe that well-designed health-care reform, utilizing market-based solutions, can ultimately reduce our nation's health-care bill by 40%. The key to achieving these savings is health-care plans that reward healthy behavior. As a self-insured employer, Safeway designed just such a plan in 2005 and has made continuous improvements each year. The results have been remarkable. During this four-year period, we have kept our per capita health-care costs flat (that includes both the employee and the employer portion), while most American companies' costs have increased 38% over the same four years.
How Safeway Is Cutting Health-Care Costs - WSJ.com

Steve Burd, Safeway CEO, was a guest on the Huckabee Show on Fox News Channel today, and will re-air again Sunday. Mr Burd talked about the plan that Safeway instituted in 2005 for about ten minutes, from 35 minutes after the hour till 45 minutes after the hour.

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Short These Truckers!

Truckingboards.com Mentioned in this Article.
Short These Truckers!
“Keep on Truckin’...” A noble sentiment and a great song............
It’s way better as a song than an investment, however. Especially now. If manufacturing is down, construction is down, and consumers are saving more and buying less (see last paragraph) what happens to the trucking business? That’s what truckers do, after all – move manufacturing, construction, food and retail goods around the country. Well, there’s still food anyway…
Con-Way is 32 today, up from its March 9 low of 13.20. That’s up 242% in 3 months. I say it’s also ripe for a fall. I’ve looked at TruckingBoards.com (yes, there really is such a website) to see if there is any chatter among the drivers as to why either of these should be up like this. Nada. Zilch. Bupkus.
Short These Truckers! -- Seeking Alpha

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FedEx posts bigger loss, issues gloomy outlook

FedEx posts bigger loss, issues gloomy outlook
FedEx sees "extremely difficult" quarters ahead, after posting bigger 4th-quarter loss
NEW YORK (AP) -- FedEx Corp. on Wednesday warned it expects earnings well below analysts' views in the next quarter, after it posted a bigger fiscal fourth-quarter loss due to hefty one-time charges.
"The operating environment for our first two quarters in fiscal 2010 is expected to be extremely difficult," executive vice president and chief financial officer Alan B. Graf Jr. said.
Graf said that still-sluggish manufacturing activity and another run-up in fuel prices will hinder earnings in the near future. But he also expects that FedEx's performance will begin to improve in the last two fiscal quarters of 2010 as cost-cutting measures start to "gain traction."
FedEx posts bigger loss, issues gloomy outlook - Yahoo! Finance

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