Lets hope Walmart doesn't decide to get into the LTL business to run freight in their trucks on the way back to the DC's......................
Yellow | Stock dropping
- Thread starter anotherdayanother85cents
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Lets hope Walmart doesn't decide to get into the LTL business to run freight in their trucks on the way back to the DC's......................
Fact:
CEO states before vote - Filing bankruptcy & liquidating assets is an option if this is voted down.
Stock goes to bargain basement pricing.
After everyone votes to live to fight another day.
CEO states after vote - we believe we have everything in place to turn this company around & make a profit.
Stock skyrockets out of basement & board sells off their shares.
But that's not manipulating.
You're kidding right? We looked to be headed for a Ch.11 filing before the MOU was approved because we did not have the cash to pay the notes that were coming due. That's a fact verified by outside auditors including those used by the IBT. When the MOU was approved and we were able to refinance our debt we were given a reprieve. We were able to continue operating and potentially turn things around. Before the MOU approval investors sold off (and drove the price down) because they believed we might be facing a CH. 11 filing. After the news came out that the MOU was approved and the threat of imminent bankruptcy was removed investors bought in (driving the price up) thinking we may yet survive and return to profitability one day. It's not rocket science and it's not some deep, dark underhanded plan on anyone's part. It's just what happens with any company facing bad news and then surviving the bad news with a better outlook.
If you didn't have the money to make a balloon payment on a loan for your new Corvette and the bank was going to repossess the car your future would be pretty gloomy. If you were able to refinance the loan under better terms and keep the car your future would be a little brighter - even though you still had to continue to pay the car off. Kind of like the same situation with YRCW if you really think about it.
I'm not doubting what you state here but the fact is they profited from their scare tactic statements & then painted a glorious scene after that. Everything was great all of a sudden to make bigger swings in the price.
The board didn't have to go public in the big way they did to promote fear the way they did but it suited their plan on both ends, the workers & the investors.
I don't see that they used scare tactics, just bluntly stated the real situation we were in. That's just my take on it but we all see it differently obviously. They cashed in part of their options when they were able to and it was at a good price. I would have done the same if I had the opportunity. That's what being in stocks is all about - selling for more than you paid.
They used scare tactics every time they asked for concessions... It is something they do very well.. They rewarded themselves for beating down the troops so well..Let me ask you another question,"bonuses" Do you believe they were entitled to them??? Do you believe the guy that the IBT put on the board deserved a bonus??? How about the local city driver that gets a few extra bills,shouldn't he be entitled to a bonus??
Abosolutly not! He was told to only pick up what he was told. A letter is waiting at the terminal for insubordination! <joking> Sad but true.
That's what I am saying..These executives were hired to do a job.. They knew exactly what the job was.. If it was to get the refinancing in place then they did their job.. If not show them the door.If it was to turn the company around then the same applies.. They did their job.. .
"Forward looking statements"
Is it a backward looking statement if you look over your shoulder?
No, just another WC claim for neck strain.