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Yellow | YELLOW To Make A Comeback?!

bingee3 said:
Estes owns most of our terminals , on lease back deals , as well as our equipment
Estes the new Yellow on titles and deeds
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Estes owns quite a few of the leased terminals, but Yellow owns 165 of them. Estes did tender a bid to buy them all. As for the equipment, I've never heard that Estes had any security interest in our equipment. Where is your information from?
 
wongway said:
So Darren never got fired for running company into bankruptcy and they have did a lot of rabbit-hat tricks in past & Patel said with Chapter 11 they have options & Cayman Banks & Jamie & Gov Loans are still in the hat for tricks , don't be surprised to see a non-union HNRY LTL Trucking with 63 mph trucks backing in next to you at docks next year !! :stirthepot:
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With HRNY contract drivers?
 
wongway said:
Yes , but Drivers have to be born in Iowa and over the age of 21 and no moving violations over 62 mph !
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Personal or Company vehicle?
Because the governor won’t let you go over 61 in a company issue unless you going downhill with a tailwind
 
bridgejump said:
Don't be surprised 😨 sell terminals they own plus some tractors and forklifts and trailers pay off debt keep leased terminals and there you have it one yellow with no union 😭
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Bridgejump: How do they keep the leased terminals with no cash? To me it looks like they haven't been paying the leases since the filing and I'd imagine the owners are looking for other tenants. Am I missing something?
 
USF Holland & NewPenn will be purchased independently from Yellow and continue to operate as a Regional carrier after the CBA expires in March or absorbed into another unionized carrier (TForce,Arcbest, UPS, etc). The rest of Yellow will be purchased by the highest bidder and debt paid off in exchange for the rest of the real estate. I foresee a deal in the making between two entities to split up the Yellow Holland assets for mutually beneficial different purposes.
 
RumRunner1 said:
USF Holland & NewPenn will be purchased independently from Yellow and continue to operate as a Regional carrier after the CBA expires in March or absorbed into another unionized carrier (TForce,Arcbest, UPS, etc). The rest of Yellow will be purchased by the highest bidder and debt paid off in exchange for the rest of the real estate. I foresee a deal in the making between two entities to split up the Yellow Holland assets for mutually beneficial different purposes.
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You've had too many rumrunner's. It's over...
 
I think the basic way to look at this is that all the leases are "returned", whether it be trucks or property. At least that will be the net end on those - not sure if they are assets or liabilities. I lean toward liabilities because there's unpaid rent. So those can be taken out of the entire equation. The main assets are property and the newer trucks purchased with CARES act funds. The problem is that the trucks are probably just sitting there and depreciating.
But the property, they have a lot of property in a lot of locations and the value keeps getting better because a lot of it is located on some pretty prime land. Land, that if you wanted to make it into a terminal today, would be almost impossible. So there's a lot of value. This is why Apollo kept this nonsense afloat. Now it appears that their debt has been covered and they're out. That's some pretty smart money people.
So now what happens? It's a tough one - the max value is selling it piece by piece, but that could take years ("and cost millions of lives") and I think the DIP financing won't last. So you have the less profitable piece - selling it all to the highest bidder. I think the Judge will approve anything that covers the CARES act and (formerly) Apollo debt and the DIP financing. Then you have to look at all the creditors. I actually think there will be some shareholder money at the end and MFN will profit.
All on the backs of 30k employees, very few of whom will see the end of the line payday. While I think I've got a (slight) grasp of how this may go down, this is absolutely terrible. It reminds me of the 'mafia' part in Goodfellas where they maxed out the restaurant debt then torched it for the insurance. Same basic business principle.
 
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