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ABF | YRC rebuffed in move to acquire ABF, ABF's parent says

Looks like another BLOG and maybe a scare tactic by ABFS. I am unmoved and unimpressed.
 
ABFer said:
Looks like another BLOG and maybe a scare tactic by ABFS. I am unmoved and unimpressed.
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They filed a similar statement with the SEC about this as well. Ill post it when it's available on the SEC website.
 
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If I thought it was bull crap or a blog I wouldn't of posted it. I found this very interesting and thought you guys might find it interesting as well.
 
Judy E-Mailed management employees about the meeting this evening. So I would think this was true. The only thing that scares me is the phrasing "at this time"
 
Flim-Flam Going On Here?

Maybe it's time for the SEC to step in and investigate what sounds like some possible "flim-flam" to me?! Aren't these some "strange bedfellows" when you got the CEO of defendant YRCW visiting the CEO of plantiff ABFS during NMFA contract negotiations with the other defendant IBT?! Come on!

:wtflol:
 
Freightmaster1 said:
Maybe it's time for the SEC to step in and investigate what sounds like some possible "flim-flam" to me?! Aren't these some "strange bedfellows" when you got the CEO of defendant YRCW visiting the CEO of plantiff ABFS during NMFA contract negotiations with the other defendant IBT?! Come on!

:wtflol:
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Investigate what? A company approaching another company?
 
Freightmaster1 said:
Maybe it's time for the SEC to step in and investigate what sounds like some possible "flim-flam" to me?! Aren't these some "strange bedfellows" when you got the CEO of defendant YRCW visiting the CEO of plantiff ABFS during NMFA contract negotiations with the other defendant IBT?! Come on!

:wtflol:
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"menage a troi" ?? sorry if not spelled right. it doesn't look like it. I used to call them threesomes !! I hate the damm frenchies anyway. LOL
 
It is common knowledge that Hoffa wanted ABF to buy YRC at one time. I don't know how YRC could finance another acquisition.
 
Seems to me this would have been a win win for Judy and YRC. The losers would have been us ABF employees. If they (ABF) had played hardball in the negotiations and offered us the same deal YRC has, the union would not have wasted their time presenting it to us.Then with no agreement likely the contract would have expired March 31st. YRC then swoops in on April 1st and buys ABF from ABC. At that time with no contract to worry about, YRC just closes the doors at ABF. The deal then is all about real estate and equipment. The banks probably could have been convinced that ABF had enough valuable terminals (to sell) and equipment (to replace some of their junk) to make economic sense. For Judy, the large influx of cash could have paid off all their debt and financed a major expansion of Panther. We would have been left out in the cold. With no protection from our contract, the only valid contract would be YRC's. The most we could hope for would be a job offer starting at the bottom at YRC... Not sure if I am right about what could have happened, but it still scares me...
 
It's a old fashion scare tactic duh... Do you drones actually believe this is true? Think about it. I yellow is just helping abf negotiations because they don't want us @26.00 a hr when there contract is up..
Freightmaster1 said:
Maybe it's time for the SEC to step in and investigate what sounds like some possible "flim-flam" to me?! Aren't these some "strange bedfellows" when you got the CEO of defendant YRCW visiting the CEO of plantiff ABFS during NMFA contract negotiations with the other defendant IBT?! Come on!

:wtflol:
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hoffa said:
It's a old fashion scare tactic duh... Do you drones actually believe this is true? Think about it. I yellow is just helping abf negotiations because they don't want us @26.00 a hr when there contract is up..
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Time will tell if it is real or not. If they notify the SEC of the meeting and the offer then it happened whether you believe it or not.
 
DCM_Doc said:
It is common knowledge that Hoffa wanted ABF to buy YRC at one time. I don't know how YRC could finance another acquisition.
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They can't even pay top pay scale, not to mention the pension fund, they should be worried about 2015....
 
Here's a link to ABFS' financial stats. Book value is at nearly $18.00 per share and the price is a little over $15. Book value has remained steady throughout the negotiations but the price was way down to $6.43. Still someone could theoretically buy ABFS and piece it out for almost $3.00 per share profit. This model was demonstrated in the movie 'Wall Street' many years ago. The last I heard (not necessarily the case today) was that controlling interest in the company was held by one family or entity to prevent such a yard sale.

Arkansas Best Corp Key Statistics ABFS | DailyFinance
 
What a slap in the face to yrc employees, they have no money to pay full rate or pay 100% into the pension but they have enough to buy another company? Its nice to see everything that was given up was used towards paying off debt. Maybe its time the union stepped up & asks for something back....
 
GO40 said:
What a slap in the face to yrc employees, they have no money to pay full rate or pay 100% into the pension but they have enough to buy another company? Its nice to see everything that was given up was used towards paying off debt. Maybe its time the union stepped up & asks for something back....
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I was just thinking, look what you can buy when you steal 15% from employees by pleading poverty
 
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