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

with the concessions that YRC employees are given back they should be able to buy UPS or FedEx and ABF and I told you that!!!
 
I have no doubt that they met.. That's one CEO scratching the back of another... I'm saying they could never pull it off and they know it,. I it's called a Vail threat.. It works on some.. Can't blame them..
 
hoffa said:
I have no doubt that they met.. That's one CEO scratching the back of another... I'm saying they could never pull it off and they know it,. I it's called a Vail threat.. It works on some.. Can't blame them..
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Could be leverage to sign the contract. Could have something to do with the lawsuit disappearing in exchange for that press release?
 
Scare tactics they want the ABF employees to get scared and think that there is a possibility that yrc could buy them we know that is not going to happen there still 1.4 billion in the hole with the banks and if I wasn't for the 15 percent give back they would still be posting a loss they want you to say yes to a contract I say vote no I am tired of paying for other people's mistakes these companies make me sick we take a pay cut and they get a bigger bonus
 
Thats what conway did when they took there money 401 company pen they never got it back then to slap the employs in the face they bought contract freighters!!!!!
 
Yrc dont need liquid cash to buy ABF, we got a line of credit several billion strong..welcome to the YRC family we're glad your aboard...sent from a current yrc employee...the only thing you guys need to worry about now is how many senority spots you fall from the dovetail....truck on brothers !!!!!!
 
GO40, would you trade a $750 million dollar lawsuit for a press release? No, you would not and ABFS didn't either.
 
Bubba you are correct. One of the big reasons why YRCW exists today is because of the concessions all employees made to keep YRCW on life support. Not just union employees. Otherwise, they probably would not exist today. You are also correct Yellow has significant debt and the meter is running at about $84 million in interest expense per year, if I remember correctly. ABFS debt is under control. YRCW is very capable of merging with ABFS through various different means of finance. In fact, if all of the parties agreed to deal you could be working for YRCW before you sat down for Thanksgiving dinner. Yellow is in survival mode and have been for some time. Like every company they have a 5 year plan of execution and probably a ten year plan as well. In that 5 year plan they have projections of salary costs, health care costs, pension costs, capital expenditure costs as well as revenue projections. They will look at trends in the industry and how the industry is changing along the lines of customer service, technology and on and on. James Welch is a good leader for Yellow. He understands trucking. Trading Hollywood Zollars for Welch was like trading a punter for Tom Brady or Peyton Manning. Over the next 5 years Welch is probably looking at very little revenue growth except for inflation. He is looking at a company that has very little left in the tank that can be cut. He will be facing an increase in labor at the next union contract. So, if he can make the company marginally profit he still can't pay back the debt and the increase in the cost of doing business (if he can't pass those costs along to the consumer) will eventually consume the company. Welch needs a partner. He needs a lifeline. Why not ABFS? They are union with very little debt. ABF has there own profitability issues with union trucking. Welch can combine the two companies, eliminate what he doesn't need through synergies and have a combined company that will produce several hundred million dollars in profit. Yellow will survive if he can find a dance partner. How many jobs were lost form 2008 until today at Yellow because of the acquisitions of Roadway and USF? Acquisitions eliminate jobs but create profit if they are done correctly. Zollars just didn't know how to do it. It doesn't appear ABFS wants to be the dance partner. It appears they would rather try to resolve their own cost structure problems with the union and operation over capacity. That is a good thing for you and every other employee at ABFS. Here is something else for you to think about. Would YRCW want the entire company in an acquisition or just ABF. What do you think a trucking company is worth that is losing money and uncompetitive with non union truckers?
 
Yes they met March 22nd.
No back scratching going on here.
Yes, they can pull it off. Investors will line up.
There is no threat. It is the business of trying to survive in the world of union trucking.
 
go4gold said:
Bubba you are correct. One of the big reasons why YRCW exists today is because of the concessions all employees made to keep YRCW on life support. Not just union employees. Otherwise, they probably would not exist today. You are also correct Yellow has significant debt and the meter is running at about $84 million in interest expense per year, if I remember correctly. ABFS debt is under control. YRCW is very capable of merging with ABFS through various different means of finance. In fact, if all of the parties agreed to deal you could be working for YRCW before you sat down for Thanksgiving dinner. Yellow is in survival mode and have been for some time. Like every company they have a 5 year plan of execution and probably a ten year plan as well. In that 5 year plan they have projections of salary costs, health care costs, pension costs, capital expenditure costs as well as revenue projections. They will look at trends in the industry and how the industry is changing along the lines of customer service, technology and on and on. James Welch is a good leader for Yellow. He understands trucking. Trading Hollywood Zollars for Welch was like trading a punter for Tom Brady or Peyton Manning. Over the next 5 years Welch is probably looking at very little revenue growth except for inflation. He is looking at a company that has very little left in the tank that can be cut. He will be facing an increase in labor at the next union contract. So, if he can make the company marginally profit he still can't pay back the debt and the increase in the cost of doing business (if he can't pass those costs along to the consumer) will eventually consume the company. Welch needs a partner. He needs a lifeline. Why not ABFS? They are union with very little debt. ABF has there own profitability issues with union trucking. Welch can combine the two companies, eliminate what he doesn't need through synergies and have a combined company that will produce several hundred million dollars in profit. Yellow will survive if he can find a dance partner. How many jobs were lost form 2008 until today at Yellow because of the acquisitions of Roadway and USF? Acquisitions eliminate jobs but create profit if they are done correctly. Zollars just didn't know how to do it. It doesn't appear ABFS wants to be the dance partner. It appears they would rather try to resolve their own cost structure problems with the union and operation over capacity. That is a good thing for you and every other employee at ABFS. Here is something else for you to think about. Would YRCW want the entire company in an acquisition or just ABF. What do you think a trucking company is worth that is losing money and uncompetitive with non union truckers?
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I see your management , let me guess for yrc...
 
Self employed. Never worked for a trucking company. Lawsuit still active. Check out the latest press release. YRCW still interested in talks with ABFS.
 
go4gold said:
Self employed. Never worked for a trucking company. Lawsuit still active. Check out the latest press release. YRCW still interested in talks with ABFS.
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So what's your interest? If they merge it will be one more union co. Down the drain & my last driving gig...
 
GO40, is that a Tennessee Titan Logo? Are you from Tennessee? Eastern Tennessee is absolutely beautiful. Anyway, I hope ABFS is able to hold out, not merge and stay independent. It is better for jobs. The last two companies Yellow acquired cost 23,000 jobs. I agree that unions help preserve a balance of power between management and labor. When balance is out of balance all kinds of stuff happens. Congratulations, to the union for signing a great benefits contract 5 years ago. That contract is now out of balance with mainstream trucking in America. Times change, things happen. Unfortunately that doesn't help when you have bills to pay and mouths to feed. The loss of another major union trucking company makes it harder and harder for teamsters to keep a balance of power. McReynolds doesn't want to lose her job in a merger but she also has a responsibility to do what is in the best interest of her company. It will be interesting to see how this plays out. Read, learn and listen to everything you can to make informed decisions. Well, I better get going. Mr. Hoffa will be on the board soon to tell me to go away. Thanks for the conversation G040. Good luck to you!
 
go4gold said:
GO40, is that a Tennessee Titan Logo? Are you from Tennessee? Eastern Tennessee is absolutely beautiful. Anyway, I hope ABFS is able to hold out, not merge and stay independent. It is better for jobs. The last two companies Yellow acquired cost 23,000 jobs. I agree that unions help preserve a balance of power between management and labor. When balance is out of balance all kinds of stuff happens. Congratulations, to the union for signing a great benefits contract 5 years ago. That contract is now out of balance with mainstream trucking in America. Times change, things happen. Unfortunately that doesn't help when you have bills to pay and mouths to feed. The loss of another major union trucking company makes it harder and harder for teamsters to keep a balance of power. McReynolds doesn't want to lose her job in a merger but she also has a responsibility to do what is in the best interest of her company. It will be interesting to see how this plays out. Read, learn and listen to everything you can to make informed decisions. Well, I better get going. Mr. Hoffa will be on the board soon to tell me to go away. Thanks for the conversation G040. Good luck to you!
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In from northeast pa. & yes luck is something were going to need I'd a merger takes place....
 
One of the best ways to prevent a YRC acquisition is if the ABFS stock continues to rise and stays up. Of course this will only happen with a ratification of the contract that was previously announced. But according to the board, most of you guys don't want to take any pay cut or pay for any medical....welcome to the real world. Been losing pay for last 3 years and paying higher medical costs and probably like many will also lose a job if the acquisition occurs.

Go big or go home...sounds like it's in your hands.

Sincerely, a lowly non-union regular joe employee.
 
I'm curious to see what the IBT has to say. Dead silence from them so far. You'd think they would have a position about returning funding to the pensions if their line of credit was that good. Of course, they never said anything when Yellow bought the other companies. If I was an IBT official, I'd be raising a point about failure to negotiate in good faith, hiding facts that could affect contract negotiations...a complete lack of respect for the contract negotiation process. But....as Go4Gold puts it, people asking for a fair wage are out of touch with mainstream America. This is business,...and people are to be ground underneath the heel and discarded if their paltry wants and needs get in the way of profit.
 
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