Yellow | Why not bargain with the owners of YRC?

[semidriver78]

:USA: Our BA is always telling us that YRC is now owned by about 18 or 19 banks. Wouldn't it be a lot easier to talk to JP Morgan about the financial status of YRC than to Zollars or Smid or who ever? At least this way you would get it straight what they need to keep YRC in business. No one then would have all these questions about whether or not we are being lied to. I would think that the IBT would want to deal directly with the banks because the givebacks from Jan. aren't working.

 

[Triplex]

:USA: Our BA is always telling us that YRC is now owned by about 18 or 19 banks. Wouldn't it be a lot easier to talk to JP Morgan about the financial status of YRC than to Zollars or Smid or who ever? At least this way you would get it straight what they need to keep YRC in business. No one then would have all these questions about whether or not we are being lied to. I would think that the IBT would want to deal directly with the banks because the givebacks from Jan. aren't working.

Anyone who owns shares of YRCW is an owner of the company. I own a few shares so I'm an owner so talk to me about givebacks!!

 

[cdlguy]

:USA: Our BA is always telling us that YRC is now owned by about 18 or 19 banks. Wouldn't it be a lot easier to talk to JP Morgan about the financial status of YRC than to Zollars or Smid or who ever? At least this way you would get it straight what they need to keep YRC in business. No one then would have all these questions about whether or not we are being lied to. I would think that the IBT would want to deal directly with the banks because the givebacks from Jan. aren't working.

Around here we keep hearing that it IS the banks that are driving all the layoffs. That they're going strictly by numbers on the paper, forget about all the loads late or lost, not enough drivers to deliver it. The managers around here seem to be stressed to the max because they don't have enough people.

 

[sirduckjr]

Anyone who owns shares of YRCW is an owner of the company. I own a few shares so I'm an owner so talk to me about givebacks!!

You and I are both holders of stock certificates that have no value, therefore we really don't own YRC. The point of the previous post was a really good one. The bankers are making the important decisions. The merger was mandated by the banking consortium.

Getting them to the table would be an important step in achieving a real solution long term. They must also compromise and have not done so yet.

Zollars knows the second they are directly involved, he will be shipped to Siberia.

 

[Bart]

"Zollars knows the second they are directly involved, he will be shipped to Siberia."
With a pocket full of YRC money!

 

[Triplex]

You and I are both holders of stock certificates that have no value, therefore we really don't own YRC. The point of the previous post was a really good one. The bankers are making the important decisions. The merger was mandated by the banking consortium.
<snip>

Not exactly. The certificates do give us partial ownership of the company, but the company just isn't highly valued right now. Obviously that's why the shares are trading at such a low price. The banks don't own the company (unless of course they also hold shares). They're creditors and they have the power to call in the loans which is something they would prefer not to do as that would probably cause a speedy shutdown.

 

[sirduckjr]

Not exactly. The certificates do give us partial ownership of the company, but the company just isn't highly valued right now. Obviously that's why the shares are trading at such a low price. The banks don't own the company (unless of course they also hold shares). They're creditors and they have the power to call in the loans which is something they would prefer not to do as that would probably cause a speedy shutdown.

Owners equity is the equivalent of stock. It is listed on the right side of the balance sheet with its liabilities. In YRC's case, its liabilities are roughly 1.5 billion and its market capitalization (total dollar amount of stock) is under 100 million. The banks are the owners of our liabilities and are the ones making the big decisions.

We must get the real decision makers in the room and it is without a doubt the bankers.

 

[semidriver78]

:USA:Since our elected leaders are suppose to work for us maybe it is about time we make it known to them that we don't want them dealing with people that we feel we can't trust. It was said in a earlier post it is business as usual screw the customer still worry about the numbers. It is the business leaving that will close us down. Tell the Int'l to deal with the banks. No more money for all the execs. Make them feel the pain.