It really doesn't make much sense to spend about 1.5 billion buying something just to shut it down.
Holland | The Axe Is Starting To Come Down
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slowhand48
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i agree but you can see the writting on the wall. why would you close the terminals they closed. i was at mobile for 11 years 10 never loss money till yellow changed our numbers to show a loss. we always op. at 90 to 93. overnight we went to 139.they took`all our good freight first. thing is they wont be`able to keep it. there poor svc and so many people dislike yollow/roadway.
was it not for our name recognition and #1 in next day service that yrc bought us in the first place? It seems to me that all they have done is setpolicy's that have harmed our over all performance , and continually made the #'s reflect loss's. if city and dock is continualy working 10-13hrs a day thier is no reason not to bring back some guy's on layoff
Northern Flash
Today's Democrats are similar to Commies.
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I agree Toby. It wasn't that long ago that we were on TOP of the service charts. Now, service is just a small part of the plan. It seems that if it is going to be inconvienient for the delivery, we just wait until the next day. No questions asked. They just hope the customers don't call and ask why they didn't get it on schedule. Every day we have trailers setting in the yard that don't get touched because they get to us too late. Often, we could break them and get most of it on the back of our trailers, but our mgt. don't even try. Why? They must have the OK to not service the customer as long as it is linehauls fault. So they make no extra effort. As for the lay-offs.....our o/t has gone through the roof, and our service is suffering. If they brought back the laid-off, both would be cured. Oh, wait......that might bring down the GOLDEN BOYS income. Forget it. To heck with the sevice. Just keep them happy. What was I thinking.was it not for our name recognition and #1 in next day service that yrc bought us in the first place? It seems to me that all they have done is setpolicy's that have harmed our over all performance , and continually made the #'s reflect loss's. if city and dock is continualy working 10-13hrs a day thier is no reason not to bring back some guy's on layoff
grimreaper
caddy
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in corporate america ..... it happens all the time
good luck to all ... it wouldnt surprise me at all if yellow folded up completely .. it is possible
stldude44 - It might not make much sense to us but corporate america looks at things a little different than we do.If it adds to the bottom line for the present than they will worry about the future when it comes. Example , bank home loans -arms are biting them in the butt now but look at the money they made up front.
To the outsider it looks like the USF guys are just typical gloom and doom crybabies.But from the inside we see pratices that made this company a leader in timley shorthaul changed to conform with YRCW thinking and fail miserably. YRCW is all about the numbers and constantly using internal audits.USF was all about customer service. High and tight and load average was not heard until YRCW came into the picture.
I cannot see Holland staying in business with the way that YRCW is trying to operate us and in the longhaul picture I have doubts that YRCW will be able to survive without sucking the life out of acquisitions (ie, preston sia redstar dugan bestway etc)
and trying it on their own.
These are just the opinions that I have formed from seeing what has transpired over the last two to three years and only time will tell.:smilie_132:
To the outsider it looks like the USF guys are just typical gloom and doom crybabies.But from the inside we see pratices that made this company a leader in timley shorthaul changed to conform with YRCW thinking and fail miserably. YRCW is all about the numbers and constantly using internal audits.USF was all about customer service. High and tight and load average was not heard until YRCW came into the picture.
I cannot see Holland staying in business with the way that YRCW is trying to operate us and in the longhaul picture I have doubts that YRCW will be able to survive without sucking the life out of acquisitions (ie, preston sia redstar dugan bestway etc)
and trying it on their own.
These are just the opinions that I have formed from seeing what has transpired over the last two to three years and only time will tell.:smilie_132:
Northern Flash
Today's Democrats are similar to Commies.
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As a city driver, I see what their changes have done to a solid service company. If they are making cost cutting changes for efficiency, I'm all for it. But, every change that they have made seems to help the numbers for today, but hurts for the future. I just feel that all of the changes for "today" have come full circle, and now the future is here and it is hurting us.stldude44 - It might not make much sense to us but corporate america looks at things a little different than we do.If it adds to the bottom line for the present than they will worry about the future when it comes. Example , bank home loans -arms are biting them in the butt now but look at the money they made up front.
To the outsider it looks like the USF guys are just typical gloom and doom crybabies.But from the inside we see pratices that made this company a leader in timley shorthaul changed to conform with YRCW thinking and fail miserably. YRCW is all about the numbers and constantly using internal audits.USF was all about customer service. High and tight and load average was not heard until YRCW came into the picture.
[/I cannot see Holland staying in business with the way that YRCW is trying to operate us and in the longhaul picture I have doubts that YRCW will be able to survive without sucking the life out of acquisitions (ie, preston sia redstar dugan bestway etc)
and trying it on their own.
These are just the opinions that I have formed from seeing what has transpired over the last two to three years and only time will tell.]:smilie_132:
usfIndy,
Nobody is denying that Yellow messed up by tampering with Holland....not even at the top levels. What has been leaked is that they now realize they paid way too much for the USF group and the hoped for synergies aren't developing as planned. For the life of me I can't understand how they put a Roadway man in charge of the Regional operation at first since Roadway, or Yellow for that matter, don't exactly specialize in short haul. Now you've got Keith L. in charge but they just made another Roadway man 2nd in command from what I hear.
What's happening now is a last push for the 1st quarter to save so much on H&W that somehow the numbers look better to the shareholders. Hopefully we can all get back to business after that.
Nobody is denying that Yellow messed up by tampering with Holland....not even at the top levels. What has been leaked is that they now realize they paid way too much for the USF group and the hoped for synergies aren't developing as planned. For the life of me I can't understand how they put a Roadway man in charge of the Regional operation at first since Roadway, or Yellow for that matter, don't exactly specialize in short haul. Now you've got Keith L. in charge but they just made another Roadway man 2nd in command from what I hear.
What's happening now is a last push for the 1st quarter to save so much on H&W that somehow the numbers look better to the shareholders. Hopefully we can all get back to business after that.
You're right. We definitely will need the the economy to bounce up in the 2nd quarter as well as maybe some of the short haul freight the contract is designed to generate.I hope we have business to get back to.
I do not think Yellow messed up at all. I think they are doing exactly what they planned on doing from the start.
Buy a company... Learn how they operate... Suck every penny that you can out of them. Close the doors.
These guys are not dummies... YRC. Corperate lawyers and Investors all did not make a mistake and now find out they have gave to much for us.
Just my oppinion.
Overboard,
Not in a million years. They paid what....1.4 billion to buy this knowledge? They could have just paid the CEO and whoever ran Holland a few million to learn that. Like any corporation YRCW is in business to make money and I personally seriously doubt it's good business to blow 1.4 billion like that.....especially since they borrowed the money to start with. Just my opinion.
Not in a million years. They paid what....1.4 billion to buy this knowledge? They could have just paid the CEO and whoever ran Holland a few million to learn that. Like any corporation YRCW is in business to make money and I personally seriously doubt it's good business to blow 1.4 billion like that.....especially since they borrowed the money to start with. Just my opinion.
stldude44, When you answer it like that it does make it sound a little dumb.
The way I see it. YRC can acquire a lot of equipment, supplies, accounts and what ever else at the expence of Holland.
Shut the doors..Write it off... They have new tractors and trailers now at a discounted price.
Hey, im just a dumb old truckdriver. I do not know how it all works. But, I bet I am close.
The way I see it. YRC can acquire a lot of equipment, supplies, accounts and what ever else at the expence of Holland.
Shut the doors..Write it off... They have new tractors and trailers now at a discounted price.
Hey, im just a dumb old truckdriver. I do not know how it all works. But, I bet I am close.
O,
Trust me, I'm not schooled in the ways of corporate America....you may be right. I just can't imagine how they can write off a large debt like that or somehow turn a profit by closing a longtime very good carrier. Maybe some accountant would know that it can be done....I don't know.
Trust me, I'm not schooled in the ways of corporate America....you may be right. I just can't imagine how they can write off a large debt like that or somehow turn a profit by closing a longtime very good carrier. Maybe some accountant would know that it can be done....I don't know.
They already wrote off $782 million of the purchase price on loss of value of the Holland and Reddaway names in the marketplace. Value lost thru mismanagement as almost admitted by Zollars in the discussion with transportation analysts in late January. A write off against profit like that gives great tax benefits when the "profits" for the year are taxed. When you add in the real value of terminals, tractors and trailers....net gain for YRCW in the billion dollar plus purchase of the USF companies.
That may be true. Like I said, I have no idea. Somehow they'll have to pay off the 1.4B.