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Reddaway | Reddaway for sale?

truckskillet said:
IS REDDAWAY FOR SALE? IF SO WHO'S BUYING US?:shift:
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It is publicly acknowledged by YRC that the regionals are for sale, but after you gut a Corvette and take every part out of it (effectively destroying it), is the fiberglass shell really worth a fraction of what is was once worthshit?

Yes, a microscopic fraction
 
The former President of Reddaway is trying to put together a group of investors to buy us. However, I've heard through management that at least one offer was made by a large Trucking company earlier this year, and rejected by YRC. Remember when Yellow bought us for 100 mil in cash, and 1.4 bil in stock valued at 48 dollars a share. In todays stock values thats 100 mil in cash and 40 mil in stock for all the USF companies. Wow, what a deal they got. Well now YRC only wants cash, not stock in the transaction. The Cowards that ran YRC accepted a stock purchase quickly worked out over a weekend when they were afraid UPS would buy us and not offer them any seats on the UPS board. Because 1.5 bil would not buy a seat at the table of a 70 bil dollar company like UPS. But big USF stock holders could get a seat next to Zollars at the new YRC. The only good thing that has come out of this, is that those Cowards who ran begging to Zollars to be rescued 3 years ago have lost over 1.3 billion dollars collectively. Sorry for carrying on, I hope we are for sale, and that their is a smart buyer with a good long term plan, after 20 years here, I dont want to start over.
 
newpenn107 said:
I'll take the shell that can be rebuilt instead of letting them put it in the crusher
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good point; seems like no one else is interested in that.
Steaker said:
The former President of Reddaway is trying to put together a group of investors to buy us. However, I've heard through management that at least one offer was made by a large Trucking company earlier this year, and rejected by YRC. Remember when Yellow bought us for 100 mil in cash, and 1.4 bil in stock valued at 48 dollars a share. In todays stock values thats 100 mil in cash and 40 mil in stock for all the USF companies. Wow, what a deal they got. Well now YRC only wants cash, not stock in the transaction. The Cowards that ran YRC accepted a stock purchase quickly worked out over a weekend when they were afraid UPS would buy us and not offer them any seats on the UPS board. Because 1.5 bil would not buy a seat at the table of a 70 bil dollar company like UPS. But big USF stock holders could get a seat next to Zollars at the new YRC. The only good thing that has come out of this, is that those Cowards who ran begging to Zollars to be rescued 3 years ago have lost over 1.3 billion dollars collectively. Sorry for carrying on, I hope we are for sale, and that their is a smart buyer with a good long term plan, after 20 years here, I dont want to start over.
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There are a few former presidents, do you speak of Ed F.?
 
Yes the last one, who left the day of the merge. I was on the Bestway side, so I did not know him, however I heard he was fair, and a good business man well respected in the industry.
 
Here you go it's in black and white. Look toward the bottom on the right side: USF Reddaway - As you know by now, YRC has put Reddaway up for sale in an effort to save Yellow and Roadway...

Jeff said:
Heres the FAX


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Thanks for posting the articles. There it is in black and white. We are for sale.
 
Steaker said:
Yes the last one, who left the day of the merge. I was on the Bestway side, so I did not know him, however I heard he was fair, and a good business man well respected in the industry.
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Yes, big time............
And he took his severance pay and started a forwarding co. to forward Redd's freight to AK.
He's still makin money off us.............
 
steaker said:
the former president of reddaway is trying to put together a group of investors to buy us. However, i've heard through management that at least one offer was made by a large trucking company earlier this year, and rejected by yrc. Remember when yellow bought us for 100 mil in cash, and 1.4 bil in stock valued at 48 dollars a share. In todays stock values thats 100 mil in cash and 40 mil in stock for all the usf companies. Wow, what a deal they got. Well now yrc only wants cash, not stock in the transaction. The cowards that ran yrc accepted a stock purchase quickly worked out over a weekend when they were afraid ups would buy us and not offer them any seats on the ups board. Because 1.5 bil would not buy a seat at the table of a 70 bil dollar company like ups. But big usf stock holders could get a seat next to zollars at the new yrc. The only good thing that has come out of this, is that those cowards who ran begging to zollars to be rescued 3 years ago have lost over 1.3 billion dollars collectively. Sorry for carrying on, i hope we are for sale, and that their is a smart buyer with a good long term plan, after 20 years here, i dont want to start over.
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amen on that one!!!
 
Really?

Where is it public knowledege that the USF's are for sale? Make my day and tell me that Yellowbellysapsucker will sell us :clap:
 
WHY!! would yrcw sell us, that would be more competition for them to fight against, never will happen,they will close the doors first i'm guessing, thats Holland i'm talking about not sure about Reddaway.:TR10driving03:
 
cracker said:
WHY!! would yrcw sell us, that would be more competition for them to fight against, never will happen,they will close the doors first i'm guessing, thats Holland i'm talking about not sure about Reddaway.:TR10driving03:
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boston25 said:
I can say without hesitation that along with reddaway that newpenn is also for sale with an report of a solid offer being made as late as last monday or tuesday. I have this from a very good source out of yrc in K.C. The thoughts are to raise enough capital to help keep holland afloat and to pump some money into the nationals by selling th two profitable regionals. YRC would be able to keep 75% of the proceeds from the transactions.
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There are many different opinions out there.
 
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