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

Your right a lot of family were put thru a lot of stress because of these so called good for the shareholder buy outs, now they want to close terminals and at the same time try to acquire another trucking company that does exactly what were all ready doing, MR welch I heard good things about you from the yellow legacy people and I want believe your for real but damn this is a huge slap in the face
 
Kingfishcafe said:
Your right a lot of family were put thru a lot of stress because of these so called good for the shareholder buy outs, now they want to close terminals and at the same time try to acquire another trucking company that does exactly what were all ready doing, MR welch I heard good things about you from the yellow legacy people and I want believe your for real but damn this is a huge slap in the face
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Like someone else said, YRC can't even buy newer equipment except those new fancy team trucks, but have money to try to buy ABF? I also notice they have money to change the name from YRC Inc. to YRC Freight, those 3M decals aren't cheap, but while they're having an identity crisis you guys are driving old horses with concessions. I don't get it!

I've been away from the LTL freight industry since 2007. I went into hauling medical trailers thinking that would have been a decent gig, but I find myself tapping into savings just to survive living in "Crook County", IL. So, it was another wrong move. I lost track of how many bad choices in my life. I think it all started when I wanted to be a truck driver in the early 1970s. When I finally started in 1985, the "good old days" of trucking was starting to go downhill. That was after the great deregulation blunder of 1980.
 
Found that on DC VELOCITY I can't get it to copy and paste a link so if you want to read the most up to date info visit the site
 
Beermug

I agree the days of trucking as an honorable profession are on a decline, the only thing you were wrong about was the team trucks, there all leased .
 
Kingfishcafe said:
Beermug

I agree the days of trucking as an honorable profession are on a decline, the only thing you were wrong about was the team trucks, there all leased .
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Yes, I meant to say that about the lease trucks. I know I see a couple of dozen of the old YRC team trucks sitting in the back of the yard at Penske. Half of them are "Roadway dark blue" and the others there are "Yellow orange" that can be seen as you go by southbound on I-294 through Hickory Hills, IL.
 
I know, we won't have a pension, after the pension reform is passed in 2014 it will be over! Look what Hoffa did to the mechanics, that was Teamster doing, if 705 didn't step in and say the refused to cross a picket line they would of been out of a job! Hoffa has to be doing flips by now rolling in his grave was over years ago! I guess this is how Jr is getting even for his daddy's death!
 
well its true if they offer abf shareholders more money then what stock is the shareholders would. benefit and maybe ABC corp would let abf go realizing the union ltl wont survive long term so get out know..............

.also people calm the hell down its not yrc buying cause they have no money.(reminder 1.336 billion in debt)...........a third party has the money to do it and you say why .............. well the third party they must think they can sell a lot of the property that overlap terminals wise to make there money back yrc would get some of abfs good paying freight which abf, they don't haul cheap freight like us................ everyone would be on giveback essentially............yrc doesn't have money to buy equipment , abf has almost all new equipment they have purchased over the last year or two and if the don't owe on it is huge.....there computer system maybe light years ahead of are computers etc. could be money saver, and ????do they lease there trucks or are they paid for............... abf guys answer plz ................................... cause if tractors are leased do you really need many mechanics etc, plus it would eliminate more union and non union employees more savings
 
This whole offer baffles me. I don't see how they can buy ABF while they're in the financial shape they are in and it is a big slap in the face to all of you who have sacrificed. Nothing that Yellow has ever touched has turned to gold and I see this as the beginning of my last chapter in the freight industry. Not necessarily a bad thing but I don't like the uncertainty. To my knowledge ABF buys all of their trucks and trailers but some of it may be mortgaged. Our city tractors are 700,000 mile road units. Real estate is a mixed bag of owned and leased properties.

So...am I allowed to start trashing this company now, or do I have to wait?
 
ABFer no your not allowed its standard practice for the yellow legacy folks to trash and pin blame on all company's yellow buys, how dare you try and upset the apple cart. As for it being a good deal it was said before the roadway buy out, hey roadway is property rich and owns most of there assets and there debt load is only 140 million from the new penn purchase which is being paid off so WHAT COULD GO WRONG???????
 
Wiseup said:
What is really sad here is either way, how can the TEAMSTERS allow this to happen unless its to bust the "Trucking Union" is all I can say! put us all together and knock us off one by one!
is all I can think!
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The Teamsters cannot stop a company from buying another company...They can only "watch and observe the situation and make sure that ALL member;s interests are protected".what most of you have not yet grasped, is that a 3rd party INVESTOR would be buying....YRC's money is closely watched by these investors and they know THEY would have to front the money to buy ABF, or any other company to add to the YRCW system....THE INVESTORS would be floating the money, not James Welch.....it is their money (THE INVESTORS) and they will buy whomever they wish....had it not been for them, we ALL would have been outside the trailer looking in by now........KK
 
ABFer said:
This whole offer baffles me. I don't see how they can buy ABF while they're in the financial shape they are in and it is a big slap in the face to all of you who have sacrificed. Nothing that Yellow has ever touched has turned to gold and I see this as the beginning of my last chapter in the freight industry. Not necessarily a bad thing but I don't like the uncertainty. To my knowledge ABF buys all of their trucks and trailers but some of it may be mortgaged. Our city tractors are 700,000 mile road units. Real estate is a mixed bag of owned and leased properties.

So...am I allowed to start trashing this company now, or do I have to wait?
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As long as you trash em all,go ahead. You wanted to start with Yellow& thats fine but lets have a go at ABF from the Carolina guys, lets see Roadway spun itself off ala CF. And Viking, coles express come to mind,oh can't forget RPS now can we? lots of blame to spread around these outfits.lets hope ABF see's potential for profit down the road and don't fall prey to this trap.
 
Oh I think we all understand theres outside investors but welch is the captain of this ship and he can steer around icebergs if he so chooses,
 
Kennesaw Kid said:
The Teamsters cannot stop a company from buying another company...They can only "watch and observe the situation and make sure that ALL member;s interests are protected".what most of you have not yet grasped, is that a 3rd party INVESTOR would be buying....YRC's money is closely watched by these investors and they know THEY would have to front the money to buy ABF, or any other company to add to the YRCW system....THE INVESTORS would be floating the money, not James Welch.....it is their money (THE INVESTORS) and they will buy whomever they wish....had it not been for them, we ALL would have been outside the trailer looking in by now........KK
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Wait a minute! I remember clearly reading no more buying companies under the give back! Did that change or expire?
 
The release states that board of directors sees this as a good move. That would be Welch and company. I'd like to hear what the Teamsters' folks on that board have to say, they seem to despise the rank and file.
 
First of all yrc has no money, to buy anything, is can hardly pay its employees now. We have a bunch bozos running yrc, and this bozos dont know what they are doing, as you can tell. They have not been able to turn yrc to profitbilty. Yet. As for abf people you still have it made compared to us at yrc, i used to work for roadway, when yellow took us over they killed roadway, here is an example, in our roadway district of about 25 terminal we were between top 5 in profits. As soon as yellow took us over, in less than 2 years we were closed down. Today we are lucky to get 25 shipments on most days. Yesterday we only got about 15 shipments. We have a worhtless salesman, they should just let him stay home and mail him his check. One thing i will tell you, share holders at yrc, need to get rid of the people running yrc. Because they are no good. No one at yrc has been able to turn yrc around yet. There are so many blind people running yrc. Here is another example, they have corporate accounts where they purchase things that are needed for daily operations, and it pay more with this accounts than if they bought at a noncoporate account,
 
I think we are all assuming that we know the whole story.As far as YRCW's financial status.We only see what we are allowed to see.Plus the required financial numbers required by law to be filed with the SEC.Accounting is always a shady profession.
 
However,I think its a compelling story that DC Velocity wrote up.Fact or fiction,who knows for sure?The mention of the "the third party"might be true per SEC filing by ABF.Words are words but action is another thing in this situation.I wouldn't be too concerned.On the other hand if all is true.And words actually do come to action.I could see an extremely large lawsuit against all parties in this concern.Can we say fraud and possibly fraud in the essence?This overture purported to happen at ABF's HQ is just another way to psychologically bend the union's arm on accepting the proposed contract with ABF.I wouldn't put too much faith in the DC Velocity story.YRCW and ABF management already work with each other
 
Well here is my thought! I believe it could be the government, hear me out before you start yelling LOL!!! Right now as we speak they are discussing Pensions reform, the goverment is like our pension its a multi-pension!! Back before all this started Zollars went to Congress about the multi-pension, 2 months after this they asked for 10%! YRC purchases a china based company and sells is right after the last MOU was voted in! How can you reform the government Multi-Pension, when the Teamsters hold the biggest Multi-Pension there is! Well the only one left is ABF and they are not claiming being to be broke they are just complaining "if YRC can do it so can we" the employees aren't going to care about that! So buy it and force them to be like YRC!
 
cellblock309 said:
things that make you go uuuuummmm whaaaaatttttttttttt :TR10driving03: lets see 1.336 billion in debt how would you buy them anyone anyone lol federal reserve print them some money or give them some of or stock to purchase lol wow well rogers did say they had plans in the works .............what other then sadly eliminate more teamster jobs????????does abf do thoses sleepers or Canada maybe the only real diffrence............................ what would buying or partnering with abf gain................. they do the same thing
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Did you pay cash when you bought your house? Do you understand the concept of borrowing to buy something of value (a house, a business) if you expect the value of that thing to rise over time as you pay back the loan? You make a number of comments about finance but don't seem to really understand all that much.
 
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