What's new

Yellow’s credit ratings fall as negotiations with union continue

It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
 
Triplex said:
It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
Click to expand...
 
Triplex said:
It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
Click to expand...
I'm not happy about it 1 bit. IF Yellow does close it doors there'll be plenty of blame to go around from banks to the board to the CEO to the lower management. But I'm a realist and things don't look very good at all.
 
Toliet Paper said:
I'm not happy about it 1 bit. IF Yellow does close it doors there'll be plenty of blame to go around from banks to the board to the CEO to the lower management. But I'm a realist and things don't look very good at all.
Click to expand...
It's terrible economy for all of trucking. I never remember it this slow for this time of year except for the strike of 94. With that said, except for Yellow, all of the other LTL'S have a very sound balance sheet to weather this downturn. Our credit rating may be our Achilles heel
 
Triplex said:
It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
Click to expand...
Sorry but the cake is already baked. The negotiations are just white noise that are distracting from the real issue that the change of operation and consolidation of brands will be a colossal failure no matter what wages and changes are agreed to. We’ve seen this movie before and we all know the ending. As far as the future being bleak for teamster carriers I think you may have overlooked the fact that the other ones are managed real well-we certainly cannot say the same for Yellow. I work at a Holland terminal that was consolidated with a YRC terminal and within 6 months of consolidation the bill count was cut in half. Now 2 years later the bill count is down roughly 75% from premerger levels. Yellow-Roadway merger run back again.
 
Last edited:
victor93 said:
It's terrible economy for all of trucking. I never remember it this slow for this time of year except for the strike of 94. With that said, except for Yellow, all of the other LTL'S have a very sound balance sheet to weather this downturn. Our credit rating may be our Achilles heel
Click to expand...
The Achilles for this company is called,
$1.5 billion In debt.
 
Toliet Paper said:
I'm not happy about it 1 bit. IF Yellow does close it doors there'll be plenty of blame to go around from banks to the board to the CEO to the lower management. But I'm a realist and things don't look very good at all.
Click to expand...
How are the banks to blame? The company borrowed money at an agreed to interest rate.
 
Triplex said:
It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
Click to expand...
It's really sad to hear expressions such as shut this place down etc etc without considering coworkers whose family's members are suffering from cancer, child with disabilities etc etc... things are getting ugly so let's hope for the best outcome.
 
Toliet Paper said:
I'm not happy about it 1 bit. IF Yellow does close it doors there'll be plenty of blame to go around from banks to the board to the CEO to the lower management. But I'm a realist and things don't look very good at all.
Click to expand...
Brothers and sisters, it is time to invest in the YELL stock, as early next year, it is at least ten fold or more.
This movie is called " Yellow did it again"
Yellow Freight is getting most of the key changes to succeed on the COO, employees are getting a good bump on wages, a special pension program and more benefits.
Be patient, government personnel is involved on these negotiations, IBT and company are working reciprocally with respect and in good faith to get it done.
Five billion in revenue a year is a serious business, they are getting all the pieces right in place and everyone is happy.
Company debt is being crafted for a good plan to pay it down. Refinancing part of it and other payment structures.
I put all teamsters employees the big winners this time, morality is high and the company will succeed for a good long time.

:couch: :kicking::kicking::kicking:
 
Triplex said:
It amazes me at all the "glee" being expressed by some who can't wait for Yellow to shut down and put 20,000 Teamsters out of a job. It sucks to be getting paid less and to be getting reduced pension credits, but I'm sure there are many that for some reason need this job and would be hurting if they closed. Nobody likes the current situation, but who in their right mind really thinks shutting them down is better? This isn't the 1970's when there were dozens of Teamster jobs around to go to if one closed. Wake up, there no longer are all those backup Teamster jobs to go to. There has got to be some kind of compromise to keep them going IMHO or else the future for any Teamster job in LTL is bleak. My opinion, fire away.
Click to expand...
First off, I don't want to see a whole huge number of drivers displaced either. As to whether or not Teamster Inc loses a bunch of dues paying members, I couldn't care less. You're drivers first and it's your CDL and experience that gets you a job, not your union card.
 
Last edited:
no one has glee at the prospect of yellow's failure. yellow could not run a hot dog stand, and they only know how to cut the wages and benefits, and sell real estate, as survival tools. union membership is a strike against you in my region when looking for a job, as is age. woke is the new hiring method nearly everywhere. WE AINT GIVING NO MORE REGARDLESS. Yellow wants its fantasy network, the key to monster cash flow according to visiting veeps, then pay up. furthermore, yellow freezes all the contractual flexibilities given them, or even local practices, because they cant manage issues like seniority, and execution of any personal grudge is more important than customer service, claims, getting freight out on the street, etc.
Locally, this is run like a kingdom, not a business.
 
You must log in or register to reply here.
Top