What's new

Yellow | YRC’s Zollars says freight downturn won’t end soon

Kennesaw Kid

Kennesaw Kid

TB Legend
Super Moderator
PREMIUM
Credits
537
YRC’s Zollars says freight downturn won’t end soon............

YRC Worldwide Inc. said the downturn in freight volumes afflicting it and the entire transportation sector does not appear to be ending anytime soon.

“It looks like more of the same,” said YRC Chairman and Chief Executive Officer Bill Zollars. “We don’t see it getting much better, and we don’t see it getting much worse.”.....

www.kansascity.com | 07/27/2007 | YRC’s Zollars says freight downturn won’t end soon
 
Kennesaw Kid said:
YRC’s Zollars says freight downturn won’t end soon............

YRC Worldwide Inc. said the downturn in freight volumes afflicting it and the entire transportation sector does not appear to be ending anytime soon.

“It looks like more of the same,” said YRC Chairman and Chief Executive Officer Bill Zollars. “We don’t see it getting much better, and we don’t see it getting much worse.”.....
Click to expand...

Nope. The economy is in the tank, so until that looks rosy again=Less freight.
 
Of course the level of freight has declined. The American consumer is tapped out. They have borrowed until they are on the verge of bankruptcy and now their houses are declining in value.

The governments around the world are printing new money like never before and inflation is much higher then what is being reported. So as prices inflate, wages stagnate and consumers buy less.

History demonstrates that after a period of excessive liquidity [low interest rates and easily borrowed money], hard times follow. Considering that we are just now ending the longest period with the lowest interest rates and more money borrowed in the history of the world. I would say we are in for a period of economic contraction. Depression maybe?
 
Of course the level of freight has declined. The American consumer is tapped out. They have borrowed until they are on the verge of bankruptcy and now their houses are declining in value.
Click to expand...

If people would have just bought a house they could afford they would have been fine
 
Jeff said:
If people would have just bought a house they could afford they would have been fine
Click to expand...

True: But with all those sub prime loans being called we all are in trouble. 60 minutes did a documentary on the people in Cleveland who are losing their homes left and right because of these loans. You have to ask yourself did any off those people even read their loan contracts? Why do the rest of us have to suffer because some people bit off more then they can afford. Now the rest of us must pay higher rates because of this. The Fed needs to look into these mortgage companies who took advantage of these people, and I am sorry but some of these people were living in homes that really no one could afford. Point is if these people would have took the time to hire a real estate lawyer to read the contract for them they would have not been in the situation they are in now.

Maybe we all should listen to Clark Howard, and Bruce Williams, and don't forget Dave Ramsey. This would be some what of a financial education for us all.
 
DETrob said:
True: But with all those sub prime loans being called we all are in trouble. 60 minutes did a documentary on the people in Cleveland who are losing their homes left and right because of these loans. You have to ask yourself did any off those people even read their loan contracts? Why do the rest of us have to suffer because some people bit off more then they can afford. Now the rest of us must pay higher rates because of this. The Fed needs to look into these mortgage companies who took advantage of these people, and I am sorry but some of these people were living in homes that really no one could afford. Point is if these people would have took the time to hire a real estate lawyer to read the contract for them they would have not been in the situation they are in now.

Maybe we all should listen to Clark Howard, and Bruce Williams, and don't forget Dave Ramsey. This would be some what of a financial education for us all.
Click to expand...

credit is too easy, and the only way to be debt free is spend less than you make.

It does someone no good to make 100k a year and spend 120

I am proud to be debt free except my mortgage and my utilities... it feels great, I have a very short bid run, my wife does not have to work and I own 2 cars both paid for with less than 25k on them

I don't have to work but 8 hours a day and do just fine.
The only credit card I own pays for the Truckingboards server a month but is paid off every month in full.

I make alot less than many people on Truckingboards but I am totally happy :1036316054:
 
That is the problem today....People will not act their wage!......as for the LTL business....I would be willing to bet that after April 1, 2008, it will go gang busters and everyone will be *****in' about not being able to take their time off from work...(That is the starting date of the new NMFA 2008 - 2013).....KK
 
Kennesaw Kid said:
That is the problem today....People will not act their wage!......as for the LTL business....I would be willing to bet that after April 1, 2008, it will go gang busters and everyone will be *****in' about not being able to take their time off from work...(That is the starting date of the new NMFA 2008 - 2013).....KK
Click to expand...

Happens every contract time.
 
I sure hope you're right! This will be my 1st time with a union company,YRCW,during contract time. Alot of the guys who've been thru this before are telling me to stock up on 50# bags of beans and rice and to sock as much money away as possible...just in case. I sure hope it doesn't get to that!!
 
Mr2x4,
It's not bad advice really but it won't be necessary. Those of us who have been in the Teamsters for many years all pretty much agree that there will never be another freight strike. The reason? Both sides have too much to lose for either to rock the boat very much. Don't listen to the " the sky is falling" crowd. Lots of people just love to dwell on the most negative possibilities but I think they're dead wrong on this one. It will be a meet in the middle type negotiation process where neither side loses or gains anything major.
 
stldude44,
Thanks what you say does make alot of sense. Never having been thru it before you don't know which side to listen to, and the doom & gloom crowd always seems to feed into your worst paranoid fears . But my question now is...what'll I do with all this beans & rice???? I know I'll have a fiesta, ole'!!!
 
Mr2xfour said:
stldude44,
Thanks what you say does make alot of sense. Never having been thru it before you don't know which side to listen to, and the doom & gloom crowd always seems to feed into your worst paranoid fears . But my question now is...what'll I do with all this beans & rice???? I know I'll have a fiesta, ole'!!!
Click to expand...
Charlie Daniels had a song called Sweet Louisiana that went like this....

Well I thought I'd go out to Tulsa,
And ride in the rodeo,
But red beans and rice sure would be nice,
Back where the Mississippi River flows.

Cook em' up....I'll bring the beano!
 
I'd rather be old and broke and have enjoyed my life than have a a bizillion dollars in the bank. Once you go to the nursing home they start taking your lifes savings. I've seen it happen to quite a few I know. I've listened to Dave Ramsey and the others, screaming,
I'm dept free and all that. When you get old and in the nursing home getting your diaper changed twice a day. I'll be there too getting the same care with a zero bank account.
 
xcornflake said:
Of course the level of freight has declined. The American consumer is tapped out. They have borrowed until they are on the verge of bankruptcy and now their houses are declining in value.

The governments around the world are printing new money like never before and inflation is much higher then what is being reported. So as prices inflate, wages stagnate and consumers buy less.

History demonstrates that after a period of excessive liquidity [low interest rates and easily borrowed money], hard times follow. Considering that we are just now ending the longest period with the lowest interest rates and more money borrowed in the history of the world. I would say we are in for a period of economic contraction. Depression maybe?
Click to expand...
YUp, I agree, there WILL be another Great Depression! Communist Swine China OWNS the U.S., Commie China is the next superpower, unfortunately. This is NOT paranoia, look it up. Amerika is in serious PERIL, done by design!!
 
You must log in or register to reply here.
Top