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ABF | YRC Mc Reynolds Lie

iam4us

iam4us

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Hello Fellow Teamsters ABFers, My first time on this forum, as we all know this lies and mis representations are flying around, however the YRC acquiring ABF never flew with me, I read and read, asked questions, looked into. Found this article.

Report: YRC made bid to acquire ABF Freight (Updated) | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas

It states neither YRC nor ABF filed any documents with SEC stating YRC made an offer to buy ABF. I also searched the SEC and ABF website which has to be made public and neither contains any documents containing a report or filing of an offer or takeover bid. ABF's last SEC 10Q report to SEC was dated March 31st 2013, no mention..

The YRC buyout thing is a union busting tactic between Welch and McReynolds,, a Wall Street man and WalMart woman,,,,, who better to dupe old school lazy, bide your time leadership Teamster negotiators who don't know numbers and fell for the oldest trick in the books!! paying attention to Numbers!!!

How do we vote for a Company who Lies to us? AND She really can be brought under investigation for lying to any ABF stockholders for stating she reported this buyout offer to SEC...
 
Although YRC typically generates more than double the annual revenue of Arkansas Best, YRC is leveraged to the teeth. It’s Standard & Poor's credit rating as of March 31, 2013, was a dismal “CCC.” YRC carries about $1.36 billion in debt.

“We have a considerable amount of indebtedness, a substantial portion of which will mature in late 2014 or early 2015,” the company noted in its recent 10-Q filing. “The refinancing of these debt obligations is outside of our control and there can be no assurance that such transaction will occur, or if it does occur, on what terms
 
Go to Yrc forum and read Here is sec filing on Yrc takeover. There is a filing and they will get the money from investors if they want it ,remember the board looks after there vested interest and if they can make a buck.. The investors see a chance also and will jump on this in the blink of an eye. We are all just numbers to them we (employees) are considered a liability not an asset we are disposable there money is not.
 
Seamus20 said:
Although YRC typically generates more than double the annual revenue of Arkansas Best, YRC is leveraged to the teeth. It’s Standard & Poor's credit rating as of March 31, 2013, was a dismal “CCC.” YRC carries about $1.36 billion in debt.

“We have a considerable amount of indebtedness, a substantial portion of which will mature in late 2014 or early 2015,” the company noted in its recent 10-Q filing. “The refinancing of these debt obligations is outside of our control and there can be no assurance that such transaction will occur, or if it does occur, on what terms
Click to expand...

The following link was taken from YRCW 8-k issued on Feb. 8 of this year.


Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as “will,” “expect,” “intend,” “anticipate,” “believe,” “project,” “forecast,” “propose,” “plan,” “designed,” “enable,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond our control. Our future financial condition and results could differ materially from those predicted in such forward-looking statements because of a number of factors, including (without limitation) our ability to generate sufficient cash flows and liquidity to fund operations and satisfy our cash needs and future cash commitments, including (without limitation) our obligations related to our substantial indebtedness and lease and pension funding requirements; the pace of recovery in the overall economy, including (without limitation) customer demand in the retail and manufacturing sectors; the success of our management team in implementing its strategic plan and operational and productivity improvements, including (without limitation) our continued ability to meet high on-time and quality delivery performance standards, and the impact of those improvements to meet our future liquidity and profitability; our ability to finance the maintenance, acquisition and replacement of revenue equipment and other necessary capital expenditures; potential increase in our operating lease obligations resulting from our decision to defer the purchase of new revenue equipment; changes in equity and debt markets; inclement weather; price and availability of fuel; sudden changes in the cost of fuel or the index upon which we base our fuel surcharge and the effectiveness of our fuel surcharge program in protecting us against fuel price volatility; competition and competitive pressure on service and pricing; expense volatility, including (without limitation) volatility due to changes in rail service or pricing for rail service; our ability to comply and the cost of compliance with federal, state, local and foreign laws and regulations, including (without limitation) laws and regulations for the protection of employee safety and health and the environment; terrorist attack; labor relations, including (without limitation) the continued support of our union employees with respect to our strategic plan, the impact of work rules, work stoppages, strikes or other disruptions, our obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction; the impact of claims and litigation to which we are or may become exposed; and other risks and contingencies, including (without limitation) the risk factors that are included in our reports filed with the SEC, including those described under “Risk Factors” in our annual report on Form 10-K and quarterly reports on Form 10-Q.

From this statement, or laundry list the company is spelling out what it needs to "survive and prosper" in the current LTL market. Do you see the logic in YRCW management acquiring ABF simply to replace its aging fleet of old tractors and trailers and of course don't forget about all the real estate. Do you see the money savings YRCW gets by not having to invest or borrow to purchase brand new tractors?
 
iam4us said:
Hello Fellow Teamsters ABFers, My first time on this forum, as we all know this lies and mis representations are flying around, however the YRC acquiring ABF never flew with me, I read and read, asked questions, looked into. Found this article.

Report: YRC made bid to acquire ABF Freight (Updated) | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas

It states neither YRC nor ABF filed any documents with SEC stating YRC made an offer to buy ABF. I also searched the SEC and ABF website which has to be made public and neither contains any documents containing a report or filing of an offer or takeover bid. ABF's last SEC 10Q report to SEC was dated March 31st 2013, no mention..

The YRC buyout thing is a union busting tactic between Welch and McReynolds,, a Wall Street man and WalMart woman,,,,, who better to dupe old school lazy, bide your time leadership Teamster negotiators who don't know numbers and fell for the oldest trick in the books!! paying attention to Numbers!!!

How do we vote for a Company who Lies to us? AND She really can be brought under investigation for lying to any ABF stockholders for stating she reported this buyout offer to SEC...
Click to expand...

of course its a lie and a scam!!!!!!!!!
ive been telling these retar......ummm.. my brothers this for a week.
now, knowing its a scam, THEYLL STILL VOTE FOR IT!!!!!!!!!!!!!!!!!!!!!!!!!
 
No Reason to worry about YRCW right now, If YRCW is going to buy ABF then it will happen whether if this contract is passed or not.

FEAR IS YOUR WORST ENEMY AND THE ONLY THING THAT CAN HURT YOU. WORRY ABOUT THIS CONTRACT FIRST, NOT YRC
 
slabpyle said:
of course its a lie and a scam!!!!!!!!!
ive been telling these retar......ummm.. my brothers this for a week.
now, knowing its a scam, THEYLL STILL VOTE FOR IT!!!!!!!!!!!!!!!!!!!!!!!!!
Click to expand...

All these people are trying to do is install FEAR, Why worry about something that hasn't even happened
 
iam4us said:
Hello Fellow Teamsters ABFers, My first time on this forum, as we all know this lies and mis representations are flying around, however the YRC acquiring ABF never flew with me, I read and read, asked questions, looked into. Found this article.

Report: YRC made bid to acquire ABF Freight (Updated) | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas

It states neither YRC nor ABF filed any documents with SEC stating YRC made an offer to buy ABF. I also searched the SEC and ABF website which has to be made public and neither contains any documents containing a report or filing of an offer or takeover bid. ABF's last SEC 10Q report to SEC was dated March 31st 2013, no mention..

The YRC buyout thing is a union busting tactic between Welch and McReynolds,, a Wall Street man and WalMart woman,,,,, who better to dupe old school lazy, bide your time leadership Teamster negotiators who don't know numbers and fell for the oldest trick in the books!! paying attention to Numbers!!!

How do we vote for a Company who Lies to us? AND She really can be brought under investigation for lying to any ABF stockholders for stating she reported this buyout offer to SEC...
Click to expand...

As Elwood Blues put it. She took the liberty of bull****ing you. It wasn't lies just bull****!
 
nothumbleenough said:
The following link was taken from YRCW 8-k issued on Feb. 8 of this year.


Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Words such as “will,” “expect,” “intend,” “anticipate,” “believe,” “project,” “forecast,” “propose,” “plan,” “designed,” “enable,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain and are subject to significant business, economic, competitive, regulatory and other risks, uncertainties and contingencies, known and unknown, many of which are beyond our control. Our future financial condition and results could differ materially from those predicted in such forward-looking statements because of a number of factors, including (without limitation) our ability to generate sufficient cash flows and liquidity to fund operations and satisfy our cash needs and future cash commitments, including (without limitation) our obligations related to our substantial indebtedness and lease and pension funding requirements; the pace of recovery in the overall economy, including (without limitation) customer demand in the retail and manufacturing sectors; the success of our management team in implementing its strategic plan and operational and productivity improvements, including (without limitation) our continued ability to meet high on-time and quality delivery performance standards, and the impact of those improvements to meet our future liquidity and profitability; our ability to finance the maintenance, acquisition and replacement of revenue equipment and other necessary capital expenditures; potential increase in our operating lease obligations resulting from our decision to defer the purchase of new revenue equipment; changes in equity and debt markets; inclement weather; price and availability of fuel; sudden changes in the cost of fuel or the index upon which we base our fuel surcharge and the effectiveness of our fuel surcharge program in protecting us against fuel price volatility; competition and competitive pressure on service and pricing; expense volatility, including (without limitation) volatility due to changes in rail service or pricing for rail service; our ability to comply and the cost of compliance with federal, state, local and foreign laws and regulations, including (without limitation) laws and regulations for the protection of employee safety and health and the environment; terrorist attack; labor relations, including (without limitation) the continued support of our union employees with respect to our strategic plan, the impact of work rules, work stoppages, strikes or other disruptions, our obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction; the impact of claims and litigation to which we are or may become exposed; and other risks and contingencies, including (without limitation) the risk factors that are included in our reports filed with the SEC, including those described under “Risk Factors” in our annual report on Form 10-K and quarterly reports on Form 10-Q.

From this statement, or laundry list the company is spelling out what it needs to "survive and prosper" in the current LTL market. Do you see the logic in YRCW management acquiring ABF simply to replace its aging fleet of old tractors and trailers and of course don't forget about all the real estate. Do you see the money savings YRCW gets by not having to invest or borrow to purchase brand new tractors?
Click to expand...
Where does the money that they already don't have for their own needs comes to purchase ABF ?? "THE INVESTORS" is all I've seen written but not one credible financial advisor seems to agree that they have the resources to do it
 
Seamus20 said:
Where does the money that they already don't have for their own needs comes to purchase ABF ?? "THE INVESTORS" is all I've seen written but not one credible financial advisor seems to agree that they have the resources to do it
Click to expand...

They didn't have the resources for the last ones. But they happened!
 
Seamus20 said:
Where does the money that they already don't have for their own needs comes to purchase ABF ?? "THE INVESTORS" is all I've seen written but not one credible financial advisor seems to agree that they have the resources to do it
Click to expand...

I no longer challenge how they have kept their doors open. They have broken every rule of finance and capitalism and still don't make a profit. If Welch, who is a decent and honest man says he has the financing in a public statement then you can bank on it being true. The forward looking statement issued in Feb. by YRCW says they will have to finance the monies to replace revenue equipment. Management is executing its plan. If the vote fails do you think maybe the core of our customer base seeks other freight companies? How low do you think the stock price will fall in such a scenario. YRCW will be able to purchase the company at a much lower price.
 
iam4us said:
Hello Fellow Teamsters ABFers, My first time on this forum, as we all know this lies and mis representations are flying around, however the YRC acquiring ABF never flew with me, I read and read, asked questions, looked into. Found this article.

Report: YRC made bid to acquire ABF Freight (Updated) | Business, Political, and Cultural News in Fort Smith and Northwest Arkansas

It states neither YRC nor ABF filed any documents with SEC stating YRC made an offer to buy ABF. I also searched the SEC and ABF website which has to be made public and neither contains any documents containing a report or filing of an offer or takeover bid. ABF's last SEC 10Q report to SEC was dated March 31st 2013, no mention..

The YRC buyout thing is a union busting tactic between Welch and McReynolds,, a Wall Street man and WalMart woman,,,,, who better to dupe old school lazy, bide your time leadership Teamster negotiators who don't know numbers and fell for the oldest trick in the books!! paying attention to Numbers!!!

How do we vote for a Company who Lies to us? AND She really can be brought under investigation for lying to any ABF stockholders for stating she reported this buyout offer to SEC...
Click to expand...
Here is a link to the SEC filing for ABF...
http://www.sec.gov/Archives/edgar/d...9697318524.1&__hssc=253031638.1.1369697318525
Seems to me they did make a filing with the SEC...
You are right when you say lies and misrepresentations are rampant around here now (on both sides of the argument)... Everyone needs to do their own research and not take as gospel anything they see posted on a chat thread... Many people are stirring things up here that have an agenda that is good only for themselves and not for us...
 
YRC has operating income from operations. They don't need to borrow for it. Let's not forgot they are a $4B dollar company so who pays cash for equipment? Who pays cash for aquisitions? Acquiring ABF at a low price is the goal. JP Morgan will back the buyout. They made millions in fees from the YRC acquisitions. Bb
 
100 miles drom home said:
YRC has operating income from operations. They don't need to borrow for it. Let's not forgot they are a $4B dollar company so who pays cash for equipment? Who pays cash for aquisitions? Acquiring ABF at a low price is the goal. JP Morgan will back the buyout. They made millions in fees from the YRC acquisitions. Bb
Click to expand...
Maybe you should take your managment views back to the yrc board, you still have not answered my question who you work for & what your position is?
 
100 miles drom home said:
YRC has operating income from operations. They don't need to borrow for it. Let's not forgot they are a $4B dollar company so who pays cash for equipment? Who pays cash for aquisitions? Acquiring ABF at a low price is the goal. JP Morgan will back the buyout. They made millions in fees from the YRC acquisitions. Bb
Click to expand...

With a 1.4 Billion dollar debt, A CCC Credit rating & No Collateral & STILL LOSING MONEY
 
heres an illustration that may help with understanding how YRC could buy us:
Say you go to a car dealer and you want to buy a vette. the price is 40k. he says "you know what? GM makes me mad anymore and I dont want this car on my lot. Ill sell it to you for 15k." Believe me, no bank in the world would deny you that 15k cuz they know if you default they would sell the car for 30 or 35 and STILL double their money. That being said:

If you read various filings and postings you can come up with an average value for abf at around 30 to 35 a share. the contract gets rejected and the stock tanks to 6. Welch works his magic and gets the money, getting the company at 70% LESS than its book value. The bank would be fools not to approve this deal! He then gets: valuable real estate, newer tractors, trained personnel, etc etc etc which the bank knows could be sold off at any time to get their money back and more. Plus he can grow the company in one deal thats a win win for him and a big loser for us.
 
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