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Yellow | The Big Shell Game

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dokman

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Going through the list of “Creditors “ on Epiq website it’s very interesting to see that all of the subsidiary companies and Yellow its self are not only “Debtors “ they are also “Creditors “ to each other, example Yellow owes Holland 324 million dollars, Yellow owes Red Star 87 million dollars.Yellow owes YRC Enterprises 171 million. Long list. Surprisingly they lasted as long as they did. The blue collar workers will probably never see a dime.
 
The day they bought Roadway. They stole everything from New Penn. Forklifts, Tractors , Good paying freight, All the Profits, They didn’t buy new equipment for years. Sold all the good properties and leased them back. And then had the balls to bitch that New Penn OR went up. Blamed it on Roadway. That doesn’t include the $22,000 to $25,000 in concessions from each man. Dollar Bill and Jamie Pierson should be in Prison. I don’t care if they had contracts . They gave themselves bonuses in some form or another every year and never turned a decent profit or none at all.
 
dokman said:
Going through the list of “Creditors “ on Epiq website it’s very interesting to see that all of the subsidiary companies and Yellow its self are not only “Debtors “ they are also “Creditors “ to each other, example Yellow owes Holland 324 million dollars, Yellow owes Red Star 87 million dollars.Yellow owes YRC Enterprises 171 million. Long list. Surprisingly they lasted as long as they did. The blue collar workers will probably never see a dime.
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Yellow owes Mr. Wongway $150,000.00 for my years of paying Yellow Step-Child Support !!! Because they was a clause in contract back then that if they ever went Bankrupt we would go back to our regular pay rate and get our -15% back !! Sad part is we all drank the :heykoolaid:
 
dokman said:
Not a fan of how the union handled things at all. The company kept robbing Peter to pay Paul for years, the slowing economy and rising interest rates as well as extremely poor management practices were the final nails in the coffin.
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Yes Plenty of blame to go around. But this was predictable for decades. Jack Welsh in his best days could not successfully manage a teamster LTL carrier.
It is a bad business model that always collapses. For various reasons but the end result is always the same.
With the same interest rates and economy competitors operated in the 70's and in ODFL"s case for one quarter they operated at a 69. While offering a much better service product....
Yet scores of former YRC Managers work at ODFL???
 
Puff Driver said:
Yes Plenty of blame to go around. But this was predictable for decades. Jack Welsh in his best days could not successfully manage a teamster LTL carrier.
It is a bad business model that always collapses. For various reasons but the end result is always the same.
With the same interest rates and economy competitors operated in the 70's and in ODFL"s case for one quarter they operated at a 69. While offering a much better service product....
Yet scores of former YRC Managers work at ODFL???
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Last time I checked OD didn't borrow over 2 billion to buy competitors.....
 
chevy driver said:
The day they bought Roadway. They stole everything from New Penn. Forklifts, Tractors , Good paying freight, All the Profits, They didn’t buy new equipment for years. Sold all the good properties and leased them back. And then had the balls to bitch that New Penn OR went up. Blamed it on Roadway. That doesn’t include the $22,000 to $25,000 in concessions from each man. Dollar Bill and Jamie Pierson should be in Prison. I don’t care if they had contracts . They gave themselves bonuses in some form or another every year and never turned a decent profit or none at all.
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let's not forget to mention the hasty exits of the very solid management & sales staff New Penn had. the smart ones told Yellow to FCK OFF, ASAP. the others were eventually shown the door. to his credit, a Yellow TM by the name of P. Dooley was shown the door after he outright refused to fire a few supervisors at my terminal. i was shocked, as were most when he walked out of Yellow & into Duie Pyle as their TM in the Bronx. let me see someone try to blame the union here
 
wongway said:
Yellow owes Mr. Wongway $150,000.00 for my years of paying Yellow Step-Child Support !!! Because they was a clause in contract back then that if they ever went Bankrupt we would go back to our regular pay rate and get our -15% back !! Sad part is we all drank the :heykoolaid:
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Hey partner. You still take the 15 percent off your taxes though, claiming loss of income, Form 46. Line 5. So you should reclaim what you lost in about 30 more years,
 
Maybe when Yellow pays back Holland the 324 million they will pay the pension obligations that are due for Holland employees. That was cash on hand when they bought Holland so I guess the Holland employees earned it.
 
BIG R GUY said:
Hey partner. You still take the 15 percent off your taxes though, claiming loss of income, Form 46. Line 5. So you should reclaim what you lost in about 30 more years,
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Yes correct I still deduct the -15% Loss and my new tax lady "Becky" says she's doing the best she can for me and that "Jamie" trained her on how to do Truck Driver's taxes too !!
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OnPoint44 said:
let's not forget to mention the hasty exits of the very solid management & sales staff New Penn had. the smart ones told Yellow to FCK OFF, ASAP. the others were eventually shown the door. to his credit, a Yellow TM by the name of P. Dooley was shown the door after he outright refused to fire a few supervisors at my terminal. i was shocked, as were most when he walked out of Yellow & into Duie Pyle as their TM in the Bronx. let me see someone try to blame the union here
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Paul IS a good person, The writing was on the wall long before they got rid of him. It was only a matter fo time
 
dokman said:
Not a fan of how the union handled things at all. The company kept robbing Peter to pay Paul for years, the slowing economy and rising interest rates as well as extremely poor management practices were the final nails in the coffin.
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Maybe not yet. It seems somebody may be massaging or servicing people in congress for one last attempt.
 
steercrazee said:
Maybe not yet. It seems somebody may be massaging or servicing people in congress for one last attempt.
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Ask yourself, if your were a customer would you put freight on a Yellow truck?
If you had a job would you leave it and go to Yellow?
If you were 30 years old and wanted to get into the union and LTL would you go to Yellow.
If ABF bought them and dovetailed seniority maybe they would get some help.
Yellow wants to be in trucking business. They just don’t want trucks and drivers.
 
dokman said:
Ask yourself, if your were a customer would you put freight on a Yellow truck?
If you had a job would you leave it and go to Yellow?
If you were 30 years old and wanted to get into the union and LTL would you go to Yellow.
If ABF bought them and dovetailed seniority maybe they would get some help.
Yellow wants to be in trucking business. They just don’t want trucks and drivers.
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People don't care. If they picked Yellow, they were looking for the best price. That won't change. Build it and those cheap SOB's will be back in droves.
 
dokman said:
Ask yourself, if your were a customer would you put freight on a Yellow truck?
If you had a job would you leave it and go to Yellow?
If you were 30 years old and wanted to get into the union and LTL would you go to Yellow.
If ABF bought them and dovetailed seniority maybe they would get some help.
Yellow wants to be in trucking business. They just don’t want trucks and drivers.
Click to expand...
I would not, but we live in a backwards upside down world right now where a lot dont make sense to the point where anything could happen even though it shouldnt.
 
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