Discussion in 'The Drivers Lounge' started by T800DRIVER, Dec 10, 2013.
UPDATE 4-Sysco to buy US Foods from private equity, shares leap | Reuters
there go any pay raises for several years...
taking on debt..as well....??
i hope they can survive, if not......oh well.
That how it works when you buy another company.
that's why i said, "no pay raises" and "i hope they can survive"....
and that was a very large amount of debt. maybe a "normal" amount these days..??
So if we don't survive, oh well I lose my job? Nice Bro.
that's about the gist of my comment..
first to go probably will be many members of management. next, if a Sysco and US Foods is in the same industrial park, like where i work at, expect the repair garages to merge, maybe cutting staff there as well.
if US Foods and Sysco deliver to the same exact stores...well....how many trucks/drivers need to go there..??
it's a fact of corporate life. buy out, to eliminate the competition, hope to survive, make huge cuts in personnel, pile up more work on the "left overs", and if the company bit off more than they can chew..???
buh-bye......and i'm sure the stockholders will NOT care, as long as they get thier cut of the "left over" monies....
i do believe, and this is IF my memory serves me correctly, when ABF bought out Carolina, (way back when) there was "talk" that ABF bit off more than they could "chew". ABF may be doing better now, but also, again, IF memory serves me, the Carolina drivers and ABF drivers (or all union workers in general..??), were "dove-tailed" into senority, and some ABF guys did not exactly warm up to this scenario, since after all, ABF bought out Carolina, but any ABF driver...(ABF'er) will know more about this, had something to do with the purchase back then..???
another "buy out" of epic proportions, was when Mr. James Cochran (founder and CEO of Overnite), sold his 51% of Overnite to the railroad for a mere $1.5 Billion dollars (it was a leverage buy out). later, a few short years later, the railroad, wanted to sell Overnite for a mere $450 million dollars, as they "couldn't make a go of it"...of course UPS bought out Overnite many years ago as we all know. clearly, a HUGE LOSS in money....
(i worked for Mr. Cochran when he started up.."Highway Express", 5 years after he sold out Overnite, and he has/had a newspaper laminated in his office, of the "big sale")
so...any company can "buy out" the competition to eliminate such, but can they make a go of it...?
some do...some don't.....
get your resume` updated....just in case....