What an imbaresment

Discussion in 'New Penn' started by newpenn22, Nov 7, 2015.

  1. newpenn22

    newpenn22 Active Member

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    Pay up
     
  2. newpenn22

    newpenn22 Active Member

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  3. joes bar and grill

    joes bar and grill Well-Known Member

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    Not to be confused with embarrassment.
     
  4. allnightrain44

    allnightrain44 Active Member

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    100,000 a month to rent our or what was our fully paid for terminal.and we also get to pay for the up keep. what a deal YRC got for us. roughly 21.6 million in rent to pyle plus our added upkeep. wonder how many times we will have bought it back in 18 years.thats a big hole to dig yourself out of beginning of each month add in cost of parts to keep junk in maspeth running, no easy task trying to run maspeth. when we were at oue best before YRC, o/r would be 99 one day 101 next in that general area. can only imagin how bad it is now on daily bases.
     
  5. ESP

    ESP Well-Known Member

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    Where did it say that the lease was a $100,000 per month? That is a very big terminal or That is a huge lease. I hope it is a catch up number to continue the lease. Good luck and I understand your :ranting2:
     
  6. Keepingon

    Keepingon Well-Known Member

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    I was told awhile ago the rate on all the leaseback deals YRC did was about $2000 per door each month.
     
  7. allnightrain44

    allnightrain44 Active Member

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    it didnt i assumed npme payin 100,000.00 to pyle was for a missed payment or late payment and that caught npme up to date. why else would they give pyle 100 grand. also i was told that boston payments were 66,000.00 a month to lease that terminal back.based on that and location in billerica 100grand wouldnt be out of line for prime nyc property. maspeth has what 72 doors at least so based on keepingon: take on lease backs that would put monthly payment higher at 144 grand. either way it was speculation on my part. maybe 100 grand was lattas yearly dues at west chester country club.hes good to go for another year thanks to YRC and NPME.
     
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  8. ESP

    ESP Well-Known Member

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    That just goes to show you, how out of touch I am. I just cannot imagine rent at 100 grand a month. Thanks for the info. Of course I first brand new car was 1900 bucks. A 65 chevy supersport loaded, with all options and a V8. My payment was 72 bucks a month. I made $3.16 an hour on the dock. LIfe was good, still is. :bgroovy:
     
  9. Keepingon

    Keepingon Well-Known Member

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    Am I nuts or would they have been better off borrowing from the mob? They would have got a better rate and a competitor would not have had anything over them. Just saying...
    I understand YRC needed the cash fast, the competitors holding the notes I just can't understand. I am also wondering if the $100 grand was paid to cover Pyles legal fees and such involved with all the legal proceeds that took place.
     
  10. Snark Monkey

    Snark Monkey Well-Known Member

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    YRC sold as many assets as a strategy to raise capital and prevent a take over by a wallstreet vulture investment company. a take over similar to what happened to Wonder Bread.
     
  11. allnightrain44

    allnightrain44 Active Member

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    YRC sold 3 of our terminals in a package deal of 7 for a price that they should have got for maspeth alone. with that kind of business sense maybe a vulture wallstreet investment company should have taken them over. and if that firm really wanted them they would have got them, YRC, that is. pyle after seeing that yrc wasnt going into bankrupty and couldnt get our balt. terminal that they really wanted, sold it off to another investment group for what they paid YRC for whole 7 terminal deal. pyle made a ton of money on YRC stupidity.
     
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  12. newpenn22

    newpenn22 Active Member

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    Long day oops
     
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  13. wongway

    wongway -15% Pay & Broke Pension Fund

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    Yep , YRCW sold close to all of the barns and even office's too , and now are doing a lease back & paying big money for them ??? and leasing trucks & trailers too !!
     
  14. BIG R GUY

    BIG R GUY Part time Coop Dispatch driver

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    Thisisan mbearassmint!!!!!
     
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  15. Canadian Flyer

    Canadian Flyer Speedy Freightshaker #411

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    Of course they don't actually own anything. They'd sell the names on the doors if they thought it'd help!
     
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