The good news is the Banks (YRC debt holders) still run YRC. YRC debt and liabilities are too high to be covered by their assets, never mind the interest (the profit from the loans...why the money men loan money: to make money). Is everyone still with me?
This means that bankruptcy is out of the equation. The money men would not even be able to cover their principle.
So, what to do? Keep payroll down...that cow gives pure cream.
If we all understood this concept than we wouldn't be afraid to talk about...
You are all over leveraged. House payment, 2 car payments. Living above your means. Its ironic that you would benefit the most from a beneficial contract and this time the money men will have to wait for their money instead of us being paid (and treated) like third class citizens.
The first offer (along with the 'take it or bankruptcy' letter coming in the mail) must be turned down, along with the second.
How about it? Can we start talking about the possibility of a strike?
The current money men you speak of have been getting 90 million per year interest for the last 5 or 6 years.
To think they will even consider allowing the company to lose a hundred million per quarter or more is asinine .
Comparing us to ABF is like comparing Birmingham with New York city.Deregulation is over..we are 2 different companies.
How anyone thinks we can't bankrupt after watching over 400 union lines go down in the last 20 years is just plain and simple non factual truck driver talk.