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TForce | Rumor or YRC's Demise????

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1Rivierra

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Did anyone else hear the rumor last night about the sudden end of YRC if they don't come up with over 1 billion dollars to pay back a loan taken out to buy Roadway? Is this true or not? I posted a thread on YRC's board to ask some of those guys and all I got was a bunch of smart a** answers instead of just answering the question. Is this the mentallity of the average YRC driver?
 
I never heard that rumor. Until the absolute facts come out, it's just going to be rumor.
Let's not feed on YRC rumors in here and bash our brothers.

I wouldn't say it's YRC's demise either.
It seems they are just restructuring and with restructuring comes downsizing, pulling back, shrinking and refocusing on their core market.
The collateral damage will be many job losses. This is part of their stated plan to keep alive.

"Yellow and Roadway don't have the same regional footprint, the same next-day service that the regionals can provide," said Satish Jindel, president of SJ Consulting Group Inc., a transportation consulting firm. "Yes, YRC needed to do this because they have issues with pricing, and they need to cut down on some of their losses. But this approach could lead to reduced business from customers who want to deal with one carrier in all parts of the country."
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The quote above is what makes me believe we will try to obtain part of the +-30% market share YRC has. All LTL eyes have their targets on the opportunity to gain more market share. The ones who manage this growth slowly will be the ones who succeed. Take on too much and you hurt your core customers.

I also believe customers in this day in age are looking for one stop shopping. This might be why we are currently accepting applications.

I hope YRC never dies and that they are able to restructure and learn from these buyouts.
 
It's an old article but the news than still holds true now. They are still in the midst of restructuring.
I just don't understand why it's taking them so long.
 
im pretty sure its not a billion dollars. i think its more like 150 million by march 15. so if one of there lifers wins the lottery there ok for awile.
 
It is my hope that YRC, which is actually doing something to improve its cost structure, will make it through these hard times. They are consolidating terminals, all over the country, which is cutting costs and showing the banks that they have a plan for success. In a short time they will have cut there lease of space costs in half.
 
Thanks for all the "good" thoughts guys. We're all out there on the roads together, different companies, equipment, runs, locations, but we are still professionals that work day in day out, night after night as safely as we can and I am proud to share the road with y'all..
 
Now is Holland being absorbed into YRC or is it just Yellow/Roadway? I haven't seen any of the new decals on Holland tractors, but have seen some possibly new/rebranded YRC pups on the interstate...I'd hate to see YRC go under, Yellow has had a big presence in the city I've lived at for many years. I originally tried to get on the dock with them a few years back, but ended up going to the company with the red trucks/grey trailers based in Cookeville, TN.
 
YRC consists of Yellow and Roadway. YRCW consists of Yellow, Roadway, Holland, New Penn, Reimer, YRC Logistics, USF Glenn Moore, USF Reddaway, Meridian (if they still exists), etc... It is very complicated (and I try my best to keep up with all of this crap), I don't know why YRC consists of Yellow and Roadway as a entity of its own and 1 company yet they are still selling each brand seperately and we are still getting differently branded equipment. The Chinese company may be under YRCW as well.
 
Appreciate it BIGRNTN, thats what I thought YRC was just Yellow/Roadway. I didn't see any of the YRC decals on the Holland equipment at some of my stops.
 
1Rivierra said:
Did anyone else hear the rumor last night about the sudden end of YRC if they don't come up with over 1 billion dollars to pay back a loan taken out to buy Roadway? Is this true or not? I posted a thread on YRC's board to ask some of those guys and all I got was a bunch of smart a** answers instead of just answering the question. Is this the mentallity of the average YRC driver?
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Try being a bit more sensitive. I heard a "rumor" last night that you are going to lose your job. Understand my point. Most everyone in the LtL sector is well aware of the YRC problems. Rumors are not the solution.
 
?

laid off 90% said:
im pretty sure its not a billion dollars. i think its more like 150 million by march 15. so if one of there lifers wins the lottery there ok for awile.
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I thought it was 250 million by February 16(banking deadline supposebly). On 1-30-09 they completed phase one of the sale & leaseback of some of their properties.YRC netted 101 million for phase 1. Phase 2 is supposed to be following shortly. They are supposed to get another 50 million for that phase. That would seem to be about 100 million short for their creditors to me. Maybe their trying to work something out with their bank or lender?????? We'll see! Even if they work something out it's just a matter of time for them I believe. Their whole model does'nt seem to be cost effective @ all.
 
It's more like a little over $500 million. The company had an offer of 250 mill on the table up till Dec 24 for the banks to bite. Didn't happen they were offering 47 cents on the dollar. Jan 16 they got a 30 day waiver from the bank. Last I saw had a credit line of $400 million sold some terminals at a total off $200 million. But company needs operating cash too Feb 16 could be dooms day for most LTL teamsters. CF shut down on Labor day YRCW could fold on Presidents day. Just go to Yahoo finance read YRCW lead lines it's all on there
 
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