What's new

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

we all keep looking at YRC and ABF as the ones who are slapping us all in the face, and to a lesser extent, the IBT. however, what role are the banks playing in all of this ? they are the TRUE owners of YRCW. clearly, YRCW cant do a thing without the bank's support and approval. i believe this is where we should have our ire aimed at. Jr. went down to challenge those on Wall St. previously, i think its time he take another stroll into NYC and demand answers.
 
ziper said:
Mr Welch mite want to read the 5 year give back agreement I no he didn't work at yrc when they signed it, but there is wording in the agreement saying you can't buy another truck line with the money you saved in the agreement and if you do snap backs to full wages and benefits kick in.check it for yourself.
Click to expand...
I think the language reads that they can't by a non-union truck line with the money saved...And either way they could flip a few shells and viola the money comes from somewhere else.
 
Boilerpeddle said:
A few years ago a whole bunch of smart money people would have bet that YRCW would not be around right now.
Click to expand...
You are absolutely right, Brother. Which leads one to the conclusion that the so-called "smart money people" ain't so smart.......Or......there's wheels within wheels, and the Money People are keeping YRCW afloat...by artificial means.....for some ulterior motive. Destruction of the NMFA, perhaps? Elimination of any sort of wage standard in trucking.....so it could be "every man..or company...for themselves" as far as compensation goes? We all know wages are going to go up. Non-Union carriers are begging for drivers,....look in any newspaper....25 truckdriving jobs at $45,000 to $70,000 a year,............and one minimum wage dishwashing job. SO.....the only questions are: Where's the starting point where wages start to rise from?' ....If you can eliminate the NMFA....the wage baseline, as it were,......then wages may start to rise from a distinctly lower point than where they are at now........................And that, My Friend, is what they're trying to do......they know a wage rise is inevitable,....they just want to keep it lower, by having it start at a lower point. How's that for a paranoid , conspiritorial conjecture?
 
canaryinthemine said:
You are absolutely right, Brother. Which leads one to the conclusion that the so-called "smart money people" ain't so smart.......Or......there's wheels within wheels, and the Money People are keeping YRCW afloat...by artificial means.....for some ulterior motive. Destruction of the NMFA, perhaps? Elimination of any sort of wage standard in trucking.....so it could be "every man..or company...for themselves" as far as compensation goes? We all know wages are going to go up. Non-Union carriers are begging for drivers,....look in any newspaper....25 truckdriving jobs at $45,000 to $70,000 a year,............and one minimum wage dishwashing job. SO.....the only questions are: Where's the starting point where wages start to rise from?' ....If you can eliminate the NMFA....the wage baseline, as it were,......then wages may start to rise from a distinctly lower point than where they are at now........................And that, My Friend, is what they're trying to do......they know a wage rise is inevitable,....they just want to keep it lower, by having it start at a lower point. How's that for a paranoid , conspiritorial conjecture?
Click to expand...
I think they or at least some of them are very smart and are playing on a level that I don't even begin to understand. The deals that were made for YRCW to stay alive were astounding. Some investors voluntarily gave up millions of dollars instead of letting it fail and making more money. At the time the only thing I could come up with was that they didn't want any more of the general public's scrutiny on their "system" . Better to go along with it that potentially have legislation passed to prevent an investor from letting a company go down when they bet against it. Now I don't know. And the only reason I can come up with for yrcw to offer to buy us without really wanting to is to keep wages down for their negotiations in two years.
Except I just came up with another:
Jeff orchestrated the whole thing to get more activity on the forums:)
 
You must log in or register to reply here.
Top