SAIA | Saia still linked to YRC ???

Vwaggs

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Heard a strange rumor from a steward yesterday. Said that a Yellow driver heard from a Saia driver that you guys were going to have Utility Drivers and were supposed to haul Roadway freight. The story also said your system was able to accept Roadway pro numbers. Any truth to any of it?
Saia employee informed responses please. I'm simply trying to find truth, not further speculation.
 
Heard a strange rumor from a steward yesterday. Said that a Yellow driver heard from a Saia driver that you guys were going to have Utility Drivers and were supposed to haul Roadway freight. The story also said your system was able to accept Roadway pro numbers. Any truth to any of it?
Saia employee informed responses please. I'm simply trying to find truth, not further speculation.

First question, are you referring to road drivers as utility drivers?. If so, there are drivers who have bid runs and those who are system drivers(unassigned) who have no set hours or runs.

At my home terminal there are city utility drivers who are assigned a start time on a daily basis. All others have bid assigned start times.

As for the other, hmmmmm........that would make an interesting can of worms, huh?
 
i cannot comment on the specifics you asked b/c i do not know. give me a Roadway pro # and i will see what happens though. if possible, give me either the originating terminal or the destination just so i can make sure the system isn't thinking it's a saia pro.

it's my understanding that when YRC sold us, the shareholders of YRC were given a fraction of a share of Saia stock in the split. i'm not sure what that fraction is. if someone had enough YRC stock, they would have a large interest in Saia with all those fractions adding up. there are some things that happen around here that make me wonder though.
 
The first thing I did of course was go to Yahoo finance and pull up SAIA. The majority stockholder is an investment firm that SEEMS to indicate on its site that it could potentially be FRONTING, for companies wishing to have their investments anonymous. I haven't tried to track it from the YRC end yet, because that will be harder or impossible.

I'm a Reduced Overhead Expense at the moment. Don't have access to Yellow PRO numbers currently.
 
Yellow sold Saia and Jevic before it bought or merged with Roadway. Saia and Jevis became SCS Transportation. Then Saia sold Jevic. When Yellow and Roadway merged it formed a holding company YRC. When YRC bought USF and a couple of Chinese companies, it changed their name to YRCW. So the answer to the question is NO, YRCW does not own Saia.
 
My lawyer friends tell me that if there was no actual selloff of Saia, and Yellow did the "spinoff", we are still in fact owned by Yellow. So far the only times they have lied to me was when the took the last beer out of the fridge. :hysterical:
 
My lawyer friends tell me that if there was no actual selloff of Saia, and Yellow did the "spinoff", we are still in fact owned by Yellow. So far the only times they have lied to me was when the took the last beer out of the fridge. :hysterical:
BINGO...Saia was indeed spun-off to the Yellow shareholders. Don't know if the same shareholders still own the stock, but that is what happened.
 
BINGO...Saia was indeed spun-off to the Yellow shareholders. Don't know if the same shareholders still own the stock, but that is what happened.

On a spinoff, a separate entity, in this instance, SCST is created. SCST was the holding company that owned Saia and Jevic.

Those Yellow Corp shareholders of record received shares of SCST stock proportionally based on the amount of stock held in the original company.

Those shares of SCST stock represented the value of the spun off company as it related to its part of the original company(Yellow Corp). This was determined by the Yellow board of directors. Example: Yellow Freight stock=$50. SCST portion of that stock valued @ $20. Shareholders would get shares or fractional shared based on the number of shares of stock held.

Additionally, SCST shares were listed on the NASDAQ, making SCST a publicly traded company. This enabled the company to raise money(capital) on the open market.

One would suspect that the deal was structured so to allow Yellow to regain the value of the spun off company once it was placed on the open market. How? By selling its shares held by the company(Yellow).
 
I'm not a lawyer, but when you go to the YRC website and it lists all the companies they own, is Saia listed?

The question is tough to answer. This would follow under the "Piercing the Corporate Veil" ideoolgy as I recollect.
1. YRC could own them through their investment in a management investment firm.
2. A management investment firm could own them and YRC.
3. Some other combo.

Having a management investment firm as the middleman allows one company to run and own another without any outward appearance of ownership. This was why I asked my original question in such a restricted way. I was looking for insider info, not speculation.
 
I can tell you that internally we treat our sister companies very different from all of our other carriers. Roadway, Yellow, USF's, Reimer and New Penn are all treated with kids gloves. Saia is treated like all the others, and honestly they are looked at with a lot more hostilitay by most than others.

I wasn't around the company back when the SAIA stuff happened, so I can't say for sure, but I can say that internally there sure are no signs that SAIA is in anyway related.
 
Give me a break!

you all must be teamsters because these answers and questions are insane

I can tell you without a doubt, at my terminal WE DO NOT HANDLE, TOUCH, OR SHIP ANY YELLOW, USF, OR ROADWAY FREIGHT!

How would it get into our system? Mistaken pick up? Your saying those other companies would rather use Saia to move there freight? What, they are so busy they don't have the trucks available?

Think about it people.....:hysterical:
 
It is more incestuis look at the Saia board William F. Martin, Jr.,retired from Yellow Corporation He had been senior vice president of legal,
general counsel and corporate secretary.
 
I can tell you without a doubt, at my terminal WE DO NOT HANDLE, TOUCH, OR SHIP ANY YELLOW, USF, OR ROADWAY FREIGHT!

How would it get into our system? Mistaken pick up? Your saying those other companies would rather use Saia to move there freight? What, they are so busy they don't have the trucks available?

Think about it people.....:hysterical:

This is not what the original question was about. The original question was whether YRC maintained a controlling interest in SAIA after the sell off, via the investment firm that holds significant interest in SAIA now.
The question was posed, based on information I was given that SAIA utilized a PRO scanning system compatible with that used at YRC and a related conversation that SAIA was restructuring some of their runs in a format similar to YRC.
 
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