yrc buys masterlock

Discussion in 'YRC Freight' started by werbankrupt, Nov 21, 2013.

  1. werbankrupt

    werbankrupt Active Member

    Messages:
    477
    Likes Received:
    113
    in anticipation of the new concessions failing to pass, yrc has purchased masterlock company, to ease its costs for locking up all its empty properties during foreclosure.
     
  2. Fr8holler

    Fr8holler Member

    Messages:
    544
    Likes Received:
    10
    lmao , right.
     
  3. TJ Yellow

    TJ Yellow Member

    Messages:
    116
    Likes Received:
    0
    funny ... I hope someone on here lets us know before the company closes I need to get my locker out before the lock is installed
     
  4. Truck drivin' man

    Truck drivin' man New Member

    Messages:
    10
    Likes Received:
    0
    That fine and dandy, but what property does YRC actually own ?? Everything is leased, and everything is old and out dated. EXACTLY why they voted themselves bonuses and pay raises in April. Here they thought Zollars was a no good bum...They took for themselves exactly what Zollars did !!!
     
  5. tutone710

    tutone710 Your Retirement Canceled

    Messages:
    3,218
    Likes Received:
    1,247
    309

    Funny... :LMAO:
     
  6. phatom 49

    phatom 49 Member

    Messages:
    55
    Likes Received:
    0
    not really funny but Lol.:clapping:
     
  7. Stimpy

    Stimpy Wingnut

    Messages:
    4,505
    Likes Received:
    4,669
    At CF there was no warning of closure. .... it was a rumor going around for some time. All I can say is be prepared for the worst and hope for the best.
     
  8. mack365

    mack365 New Member

    Messages:
    2
    Likes Received:
    0
    They warned us at CF it was Labor Day and they called us with a tape recorded message.The message said it was the hardest thing the CEO has ever had to do and I TOTALLY believe him as he jumped with his golden parachute.
     
  9. Rifraf

    Rifraf Member

    Messages:
    131
    Likes Received:
    4
    Buys Master lock? Is that what everyone voted yes to?
     
  10. Gideon129

    Gideon129 Active Member

    Messages:
    320
    Likes Received:
    41
    don't they legally need to give 30 days notice of any closure through the federal WARN act ?
     
  11. fartknocker

    fartknocker Well-Known Member

    Messages:
    1,974
    Likes Received:
    32
    I don't think publicly traded companies ever give notice.
     
  12. longblade

    longblade im here to make you uncomfortable

    Messages:
    4,473
    Likes Received:
    557
    just like a bunch from yrc wasting money on locks when you have dozens hanging on the back of city trailers that are never used .
     
  13. Hoosierky

    Hoosierky Enjoying Life Everyday!

    Messages:
    1,576
    Likes Received:
    417
    Yes, they have to give notice. When the COO was announced, YRC sent notices to Ohio, Tenn and Mo unemployment boards that they would be laying off. They were compling with the WARN Act.
     
  14. longblade

    longblade im here to make you uncomfortable

    Messages:
    4,473
    Likes Received:
    557
    Hoosierky I have no proof of any kind but just to say I think you are wrong .If they were to close the doors you would get NO notice .if you are lucky maybe a robo call before you waste gas going into work. if not when you get there the gates will be chained and some rent a cop will be at the gate .
     
  15. Gateway

    Gateway Member

    Messages:
    74
    Likes Received:
    13
    They do not legally have to notify you of an impending closing. The WARN act is suppose to be a deterrent to sudden closure. If the company doesn't notify you thirty days in advance of closing than all employees are added to the list of creditors to be paid when the court filings are settled. i.e.: any earned vacation or unused vacation time and any back wages. Preston and CF employees both received the WARN act payments. It was a couple years later and for some it was pennies on the dollar of what their original claim was.
     
  16. Hoosierky

    Hoosierky Enjoying Life Everyday!

    Messages:
    1,576
    Likes Received:
    417
    I was at CF when they locked the gates. My wife also had the same thing happen with a different company. Both times
    we got our WARN Act $$. They can chose not to give notice, but it comes at a heft price for the
    creditors.
     
  17. clydesdale

    clydesdale Well-Known Member

    Messages:
    652
    Likes Received:
    289
    if I went to work today ,and there was a lock on the gate it would not surprise me..
     
  18. jimmy g

    jimmy g Kook

    Messages:
    20,069
    Likes Received:
    13,372
    Preston gave the customers 2 days notice- us employees none. I got Full WARN act plus all my vacation- 18 months later. My unused sick days were forfeited....
     
  19. fartknocker

    fartknocker Well-Known Member

    Messages:
    1,974
    Likes Received:
    32
    How does giving notice effect stock trading though? I always thought public traded companies didn't give notice because it would lead to insider trading? I guess it wouldn't beings insider trading if it was announced publicly. Maybe I'm thinking of mergers and acquisitions. ....
     
  20. jimmy g

    jimmy g Kook

    Messages:
    20,069
    Likes Received:
    13,372
    Freight companies don't give notice to prevent destruction to freight and property. WARN Act payouts are cheaper than having a terminal burned (Preston's Detroit one was).
     

Share This Page