Wow. That sucks. In effect, you are all tied to the mast of a sinking ship while the Captain and his officers have their "life boat" waiting for them.
Holland | What's going on with the company ?
- Thread starter wongway
- Start date
They aren't going to tell you if they did or did not until later when required to list all assets when or IF a bankruptcy occurs.
When JTL closed back in the 90's, that's when WE found out about their leased equipment and properties. None of that could be included in the auctions ordered by the bankruptcy court since those leasing companies were considered vendors, not part of the company.
It's a sad thing. It's just corporate legalized robbery. Nowadays they've probably perfected it a lot more to prevent anyone finding the truth. One would think that the IBT, with their hundreds of legal experts on the payroll (all paid for by the membership), they would be on top of what is going on to protect the members' interests. But, no, nothing. I guess they are all busy enough just trying to find ways to keep Hoffa, Ken Hall, Bill Lichtenwald and now Rome Aloise out of prison. No time for handling membership matters or crooked companies.
They can close & sell off the scrap trucks & trailer's and walk away from the leases and the union and take the money and run and not a thing anybody can do about it , been there done that with other loser companies like the greedy yellow pig ! just look at the History of past union ones gone by the wayside !! r.i.p. by 2019 or sooner , with the DYSFUNCTIONAL way its being ran lately !
I hope you are right about Holland NOT closing. They are being dragged down by parent company YRCW and their lousey management and business practices. Correct me if I'm wrong - but Yellow has had a history of buying out competitors that they didn't know how to compete with. Preston, Roadway and Holland are just three of them (I'm sure there are many more, if someone goes back and checks). They are what I think used to be called a "corporate raider" and it's happened to other companies, not just freight. In the case of trucking companies (and airlines)hey get the money from "others" to buy out competing companies that have a lot of liquid assets that are mostly free and clear of debt. Then after the sale, they immediately start selling off property and equipment to pay back the lenders, at least in part. Then, instead of having outright ownership of land, terminals, office buildings, rolling stock (tractors / trailers / forklifts / etc.), they simply lease it. The older "rolling stock" without much value, they keep, while any new or nearly new rolling stock is all leased. Leasing companies don't lease old worn out stuff - it's either brand new or recently repossessed almost new stuff - but still leased and NOT listed as company assets that can be included in any bankruptcy actions that might occur.
I suggest you do your own investigating on ownership of equipment. Most of the trailers and tractors (especially the new ones) have the registration papers somewhere on the unit. Start checking those papers (including the VIN numbers) to see who the registered owner really is. If you have trusted friends in the shop, ask them to look it up. Maybe some of you have other contacts in or out of the company to cross-check actual ownership of unit with that VIN number or licence number. The info IS out there - it's just a matter of finding access to it through computer or paper records. If the owner is listed as a holding company or leasing company, YRCW don't own it. Same goes for terminals and other property, but those records may be harder to track down. It's all just a "shell game" to the parent companies.
When I was at JTL before they shut down in the early 90's, we didn't know those shiney new tractors we were driving were all leased until someone mistakenly left the leasing papers under the seat in one of the tractors. The registered owner was a leasing company based in Georgia. The company closed less than a year later after we voted NO (by 86%) on 2 different tries by JTL to get a giveback. Those new tractors/trailers were not a part of the bankruptcy sales. Only the old, beat-up equipment was auctioned off. It took 2 years to get any money that was owed to employees and vendors for tires/fuel/repair costs. Lucky for me, I was in town when the checks were handed out on a Friday. I went directly to the bank and cashed it. The company acct was closed shortly after that, same day. Those that waited to deposit checks on Sat were notified their checks had bounced. A friend of mine went on 2 weeks vacation on that Fri at a remote Canadian fly in lake. He took his checks with him, intending to make deposit when he got back 2 weeks later - big mistake. Three checks bounced, including the last week worked.+ 2 weeks earned vacation. He only got pennies on the dollar owed and THAT took 2 years to get. JTL was once a great company to work for when Harvey Jones owned it. He died. A group of corporate raiders bought it, drained it's assets, tried to get givebacks (didn't) then closed the doors. Is YRC headed for the same thing?
I hope not - but it sure looks like I've seen this "picture show" before. TNT-USF Holland was once a great company too. Good luck.
I hope you are right about Holland NOT closing. They are being dragged down by parent company YRCW and their lousey management and business practices. Correct me if I'm wrong - but Yellow has had a history of buying out competitors that they didn't know how to compete with. Preston, Roadway and Holland are just three of them (I'm sure there are many more, if someone goes back and checks). They are what I think used to be called a "corporate raider" and it's happened to other companies, not just freight. In the case of trucking companies (and airlines)hey get the money from "others" to buy out competing companies that have a lot of liquid assets that are mostly free and clear of debt. Then after the sale, they immediately start selling off property and equipment to pay back the lenders, at least in part. Then, instead of having outright ownership of land, terminals, office buildings, rolling stock (tractors / trailers / forklifts / etc.), they simply lease it. The older "rolling stock" without much value, they keep, while any new or nearly new rolling stock is all leased. Leasing companies don't lease old worn out stuff - it's either brand new or recently repossessed almost new stuff - but still leased and NOT listed as company assets that can be included in any bankruptcy actions that might occur.
I suggest you do your own investigating on ownership of equipment. Most of the trailers and tractors (especially the new ones) have the registration papers somewhere on the unit. Start checking those papers (including the VIN numbers) to see who the registered owner really is. If you have trusted friends in the shop, ask them to look it up. Maybe some of you have other contacts in or out of the company to cross-check actual ownership of unit with that VIN number or licence number. The info IS out there - it's just a matter of finding access to it through computer or paper records. If the owner is listed as a holding company or leasing company, YRCW don't own it. Same goes for terminals and other property, but those records may be harder to track down. It's all just a "shell game" to the parent companies.
When I was at JTL before they shut down in the early 90's, we didn't know those shiney new tractors we were driving were all leased until someone mistakenly left the leasing papers under the seat in one of the tractors. The registered owner was a leasing company based in Georgia. The company closed less than a year later after we voted
I still see old CF, PIE, Glendenning, HF, Lee Way, Preston, NW and Spector trailers and pups sitting around now being used just for storage in back lots. They all remind me of old men just waiting to tell the stories of "the old days", but nobody asks, and nobody cares.
I really don't care who owns the trucks, I do my job and I don't hate it and it pays pretty good with good health insurance, when these things change I will go and work for another trucking company. I like life to be simple, like my daddy always said "ninety percent of worrying is for nothing and the other ten percent you have no control over"
Holland has become a "BOTTOM FEEDER" company now when it comes to "HIRING" !! The people been hiring lately would have "NEVER EVER" gotten hired back in the day when it was just USF Holland , we are really hiring from the bottom of the barrel !! and even lucky to get them !! 
While it is most likely true that not ALL new hires are not ALL "bottom of the barrel" material, I do feel sorry for those that are being portrayed that way, that don't deserve it. Some are probably good, well qualified people that are just trying to get by and YRC is the only thing available for a couple years. They are being painted with the same brush as those that really ARE substandard applicants. At any rate, YRCW is running them all through with no questions, qualifications, thorough background checks or requirements that were just common procedure back before YRC (Yellow Fright) began their destruction of Holland. Yellow has not touched anything in my memory that they have not managed to either completely destroy or screw up beyond repair. It's just a shame that Holland (and a few other good companies) had to be caught up in the abysmal (mis)management at Yellow Freight. Management now seems to be using the remains of the company to pad the retirement packages of upper management people on their way to retirement as a last stop to bleed "just a bit more" out of the Teamster members.Holland has become a "BOTTOM FEEDER" company now when it comes to "HIRING" !! The people been hiring lately would have "NEVER EVER" gotten hired back in the day when it was just USF Holland , we are really hiring from the bottom of the barrel !! and even lucky to get them !!
Maybe so , but of the last ones we hired 3 can't drive forklift ?? and can't back up to a dock in less then 10 mins and stacked 1500 lbs skids on top of 300 lbs skid of crush-able boxes ? and have to take smoke breaks 4 times a hour ?
So what has changed ? They sound like the same new casuals I worked with at Roadway years go.
I have to admit it partner. We have guys with 25 years seniority that fit that description at my terminal....
25 years seniority guys was working good at our barn ,TILL YRCW took our -15% pay & weeks vacation & pension , then their give a s*** button broke , bottom line is you get what you pay for and if you beat down a dog, the dog will find a way to bite back !! which is what's happening daily now !
skullcramp
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They think a lot more into the future than a truck driver does. A lot of this is lipstick on a pig. The new equipment, and new (to us) technology along with the employee compensation recap, will help them next year when they need our help to stay in business. If, for some reason, we grow a set and it's an honest vote, they'll be perfectly happy going out of business. The back loaded money will be there for welch and the board. and the banks get a much needed write off.
When I say the comp recap, I said in a previous post, that will help sway a few on the fence voters into voting yes. They may not understand that fringe benefits are part of the package, and that all companies pay them.. I think they have plans for both. staying in business and BK.
skullcramp
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But henry, they told us to wait here. they said they'll be back for us. They wouldn't lie about that would they?
2019 is time for employee compensation recap indeed or SHUTTER DOWN !! time to stop coddling this subject and donating our -15% to Welch & is Greedy buddies !! Funny thing is YRCW always has money for Bonuses & free stock awards ,but none for the Driver's ?? Riddle me that ?
Like taking candy from babies. They must get a lot of laughs out of that at the Executive Board Meetings.2019 is time for employee compensation recap indeed or SHUTTER DOWN !! time to stop coddling this subject and donating our -15% to Welch & is Greedy buddies !! Funny thing is YRCW always has money for Bonuses & free stock awards ,but none for the Driver's ?? Riddle me that ?
Question.....do you think the fifteen percent still exists anywhere except in drivers memory? IMO anyone who thinks we are getting the fifteen percent back in 19 lives in a fantasy world....if you are waiting for that you might as well retire or switch companies or you are going to be very disappointed.....IMO.2019 is time for employee compensation recap indeed or SHUTTER DOWN !! time to stop coddling this subject and donating our -15% to Welch & is Greedy buddies !! Funny thing is YRCW always has money for Bonuses & free stock awards ,but none for the Driver's ?? Riddle me that ?