Yellow | Vote No FOR PLAN B Too!

Sure they would have had to have financing in place to pull that off, however just like $Bill did they would have used ABF's property and equipment as the collateral since we have nothing left to use.

What does buying ABF have to do with this vote?

About as much as:

1) Teamsters rolling over in their graves
2) Piles of cash hidden in the Cayman Islands
3) All the secret worldwide companies owned by YRC
4) All the management plants hiding here on TB
 
Hey, financial genius that you are you should be running things. You don't get it, do you. That banks would loan money to a "failing company?". Do some research, in a bk tractors are worth $5000 each and trailers $500 each, that's all. There isn't near enough collateral to finance a buy, this company is cooking the books, you are being lied to. Welch tried to secretly buy ABF while the IBT was negotiating a new contract with ABF. YRCW is losing money but they can get banks to loan them more? This company deserves to go down. The last thing they should be doing is asking for more sacrifices from me and my family. What Yellow borrowed, genius, if they liquidated Roadway's properties and equipment, will not come near to satisfying the debt Yellow took on to buy Roadway. I'm only voting yes because IBT threw us under the bus but if this company goes down life will go on, maybe for the best, you can't keep threatening us with our jobs, it's extortion.....3times is too much
 
Hey, financial genius that you are you should be running things. You don't get it, do you. That banks would loan money to a "failing company?". Do some research, in a bk tractors are worth $5000 each and trailers $500 each, that's all. There isn't near enough collateral to finance a buy, this company is cooking the books, you are being lied to. Welch tried to secretly buy ABF while the IBT was negotiating a new contract with ABF. YRCW is losing money but they can get banks to loan them more? This company deserves to go down. The last thing they should be doing is asking for more sacrifices from me and my family. What Yellow borrowed, genius, if they liquidated Roadway's properties and equipment, will not come near to satisfying the debt Yellow took on to buy Roadway. I'm only voting yes because IBT threw us under the bus but if this company goes down life will go on, maybe for the best, you can't keep threatening us with our jobs, it's extortion.....3times is too much
So you've been kicked whilst on the ground how many times by the Co. and now Tyson? Good grief man, pull up your nutsack and hold your head high!
 
Hey, financial genius that you are you should be running things. You don't get it, do you. That banks would loan money to a "failing company?". Do some research, in a bk tractors are worth $5000 each and trailers $500 each, that's all. There isn't near enough collateral to finance a buy, this company is cooking the books, you are being lied to. Welch tried to secretly buy ABF while the IBT was negotiating a new contract with ABF. YRCW is losing money but they can get banks to loan them more? This company deserves to go down. The last thing they should be doing is asking for more sacrifices from me and my family. What Yellow borrowed, genius, if they liquidated Roadway's properties and equipment, will not come near to satisfying the debt Yellow took on to buy Roadway. I'm only voting yes because IBT threw us under the bus but if this company goes down life will go on, maybe for the best, you can't keep threatening us with our jobs, it's extortion.....3times is too much

The banks are not loaning any additional money to the company. They are being asked to renegotiate the terms of the current loans to give the company some breathing room. Do a little real research and you may better understand what's going on. Or, just keep ranting, your choice.
 
Hey, financial genius that you are you should be running things. You don't get it, do you. That banks would loan money to a "failing company?". Do some research, in a bk tractors are worth $5000 each and trailers $500 each, that's all. There isn't near enough collateral to finance a buy, this company is cooking the books, you are being lied to. Welch tried to secretly buy ABF while the IBT was negotiating a new contract with ABF. YRCW is losing money but they can get banks to loan them more? This company deserves to go down. The last thing they should be doing is asking for more sacrifices from me and my family. What Yellow borrowed, genius, if they liquidated Roadway's properties and equipment, will not come near to satisfying the debt Yellow took on to buy Roadway. I'm only voting yes because IBT threw us under the bus but if this company goes down life will go on, maybe for the best, you can't keep threatening us with our jobs, it's extortion.....3times is too much

What do think happened the last 2 times?
The company with lower credit score was allowed to borrow the money to buy the better companies, the financial institutions do this all the time, I keep thinking they hope the good habits will rub off on the purchaser but in trucking it doesn't seem to work................

The only way according to the IBT, TDU, independent advisers and the company is vote this through and hope the company uses the next 5 years wisely, the economy improving would also be a big help but so far it appears to be tanking again.
 
The banks are not loaning any additional money to the company. They are being asked to renegotiate the terms of the current loans to give the company some breathing room. Do a little real research and you may better understand what's going on. Or, just keep ranting, your choice.
I was referring to a previous post about YRCW trying to buy ABF not the current refinance bid. Read the last few posts. I get that the banks want to refinance a failing company. That shouldn't surprise anyone with a brain....
 
I was referring to a previous post about YRCW trying to buy ABF not the current refinance bid. Read the last few posts. I get that the banks want to refinance a failing company. That shouldn't surprise anyone with a brain....

OK on the particular previous post. When you didn't include the post you were responding to it was hard to know who you were responding to.

PS - Figuring out who has a brain when reading some posts on here can be difficult to do sometimes, just saying. :smile:
 
why dont they do with the banks the same as they do with every other contract they have .say screw them dont pay .there ya go debt free .god know they have no intention of paying it off anyways .
 
AND... Who's to say the Co. hasn't plans to sell off Holland or NP or Redd or YRC? Why would any Teamster want to seal their 10 year pay freeze and 30%+ ponzy Pension cut?

Where were these "YESSERS" 6 years ago when Brothers were uprooting families and moving 100 to 2000 miles on the promis that "THIS IS IT" and "YOUR JOB IS SAFE" and "THIS WILL PUT YRCW AHEAD OF ALL OTHER CARRIERS"?

I say that the 'YESSERS' are cowards in the sense that they think that the possible end of the YRCW scheme is the end of their lives.

AND; what evidence has been provided that proves YRCW is in such a bad state? New tractors new trailers new tow motors? How can YRCW be in such a bad state but all other carriers aren't? This YRCW scheme has been a BANKSTER bonanza just like the foreclosure fraud has been a BANKSTER bonanza. The BANKSTERS are making bank on every gain AND loss and they are laughing at us workers all they way.

They enjoy throwing another "terrorist" (bankruptacy) at us just to watch us cower. I'm tired of being spit and crapped on. If these doors close I'll find a way to open another, I won't go hungry and begging Obama and the rest of the BS'ers for a handout.

I give enough of my life to this Company and Country and not enough to my life. F the BANKSTERS and the bs POLITICIANS and the bs CEO's...

Information gathering to understand something ------> How is it that in one post a person says YRC has only old junk equipment... and in this post MydogREX seems to think there are all new trucks and equipment?

MydogREX - you seem a little angry... I get it, but I have not given this company my heart and life. Only my time for a paycheck.... :)
 
why dont they do with the banks the same as they do with every other contract they have .say screw them dont pay .there ya go debt free .god know they have no intention of paying it off anyways .

Really - are you serious? I would guess it's because the banks would come and take all of the things that were used to leverage the funds in the first place....
 
ok so all these guys that contracted to work here for a honest days pay and a 100% pension and yrc has not done there contracted part you all should just grab a truck and load of freight and take it home with you .:9529:
 
Look, Welch is no better than Zollars. He is a liar. His name is appropriate. He is going back on a promise his firm made to us. We have a contract. This bastard tried to buy ABF last Spring. He tried to blame everything on prior management and Jeff Rogers. He is a liar. He, like Zollars, and Mike Wickham, wanted to buy other companies on our backs. He tried to buy ABF which means this POS must have had financing in place. Now this dirtbag has his hand out asking US for money! I get the members that want to vote no. I'm only voting yes because I believe the Teamsters are done with us and this bs company. We are all screwed, both by the union and lying management. The shareholders should fire Welch for putting this corporation in this position. I hope they do. I hate Welch, the IBT for not stepping up earlier and I wish all of you the best


Thank you - it just hit me... someone was asking "Why the waited so long to come to the members with the MOU"... That's it! If they could have purchased ABF they would have been able to use the purchase to refinance the existing debts and the newly acquired debt and there would probably have been a possibility of not needing to ask for more concessions. But without a new company to buy and find financing for the current notes, they were left with fewer options. HA!!! I'll bet that's it... this is all complete speculation mind you and I'm going to prepare for the backlash.. but I'll bet that's the answer.

Thanks again for your words!! :):hide:
 
hope you are joking because as long as they can get a yes they will be back for more .
i have a dog and love her to death but some times i might be watching or reading something and she just keeps insisting i pay attention to her instead . most times a no means no but sometimes you just got to swat them on the nose and be firm until they get the idea
 
All you are doing with those 15% pay cuts and so on for another 5 yrs. is fill up the CEO< COO< CFO< CREDITORS, STOCK HOLDERS, ETC. Pockets, so they can prepare for their plan C, which will be Empty Parking lots, and a fire sale at YRC. Don't you Union guys get it? I was in the union for 9yrs. with local 830 in Philadelphia, Pa. And one day we had a meeting that we were being sold, which we were in 2 months, to a much Larger company. They even told us to not worry about our jobs, well 260 workers later, we were all out of a job. The company did not care or take any of us. I made out, I had the whole summer off with pay, and landed a better job as a supervisor. Then got tired of the Drama & Bull-hit, and became a driver. Good Luck! I would make plans now for yourself, if this fails. now
 
hope you are joking because as long as they can get a yes they will be back for more .
i have a dog and love her to death but some times i might be watching or reading something and she just keeps insisting i pay attention to her instead . most times a no means no but sometimes you just got to swat them on the nose and be firm until they get the idea

So shall I run up to KC and swat Welch on the nose or do you want to?
 
Chicago YRC. I don`t live in a double wide and my taxes on my house ar $10,000. I have a 12 year old girl who will be forced to leave her school and friends she grew up with if YRC closes. You think that`s funny? Your bravado game will cause hardships on thousands of Teamsters trying to hang on to their homes and keep their kids lives from being turned upside down. I have struggled for 3 1/2 years trying to make ends meet. Even if I am one of the lucky ones that gets on with ABF or UPS I still lose my house because $18 per hour wont cut it. Wish I had 25 or 30 years in so I could collect some pension money to help me out but I only have 20 years. YRC is unfortunate that it has so many old idiots with so many vested that they dont give a **** about the rest of their younger brothers and sisters that NEED a job. :(

adding that the old idiots are to stupid to just quit on their own, They need to do it like Lemmings. :(
It sounds to me like you overspent.
 
why dont they do with the banks the same as they do with every other contract they have .say screw them dont pay .there ya go debt free .god know they have no intention of paying it off anyways .

They didn't screw us, they came and asked and we voted. What part of that don't all of you understand?
 
Thank you - it just hit me... someone was asking "Why the waited so long to come to the members with the MOU"... That's it! If they could have purchased ABF they would have been able to use the purchase to refinance the existing debts and the newly acquired debt and there would probably have been a possibility of not needing to ask for more concessions. But without a new company to buy and find financing for the current notes, they were left with fewer options. HA!!! I'll bet that's it... this is all complete speculation mind you and I'm going to prepare for the backlash.. but I'll bet that's the answer.

Thanks again for your words!! :):hide:

I think you nailed it, SinC. The ABF acquisition would have given the company the freight, the employees and the collateral they needed to refi the debt. Many of those whining about it never tried to see the big picture. Heck, the raises would have probably kicked in and the pension contributions could have been dealt with. We wouldn't be talking about a new contract.

That's why the executives get the big bucks. I wish some of these disgruntled ex-employees would just let them do their job in peace.
 
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