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Yellow | YRC says downgrade forces collateralization moves

Thats why yellow bought rdwy we were debt free and owned our property now they can sell it and lease it back and pad yellers pockets some more.
 
everybody can make jokes about this, but right now WE ARE ALL IN DIRE STRAITS....it's not good when YRC must put all assets up as collateral ( valued at 1.5 billion) to cover it's debt, and the debt way exceeds what everything is worth lock, stock and barrel.....you can only borrow from Peter to pay Paul for just so long....it truly is the beginning of the end....
 
I've overheard the local bigmouths saying the goverment would never let Yellow shut down. Too much freight, it would cripple the country. I blew out the lights at CF. The country did'nt grind to a halt without CF. The goverment could care less about LTL freight. At this point, someone will haul it, cheaper. Hoping I don't have to blow out the lights on this dinosaur too. Got my 20 years in. So at least I can collect whatever is left of a pension. I'll keep answering the phone till I hear
"Your services are no longer needed". Like at CF.
I've been in freight over 20 years. Never been this slow. But after slow times, freight has always rebounded. Janurary will be dead. About the 2nd or 3rd week of Feb there are usually signs of life. But this year, I dunno. I'm riding this til the end. This reminds me of the 10 years I spent at CF. Always money problems, debt, blah
blah blah. It will get better, at least from my past experiances. If not, been there, done that .
 
I am truly concerned for you guys...

I have been sparring in other threads, and just being a *******. But I have friends who drive for YRC, and would never want to see that come to pass. At FXFE, we have had to take steps to reduce costs..ie..parking equipment not being used and the like. But it seems like most other guys I talk to from other companies are all taking a wait and see attitude. Nobody likes to start over, but there will plenty of opportunities at other carriers for casualties of this, if it indeed happens. God Bless you all, I will be praying for you and yours.:console::console::console:
 
"Eaton said YRC's market capitalization stands at $98 million, and the New York Stock Exchange can de-list a company if it doesn't have $100 million figure for 30 days.

"The analysts fail to analyze it... They don't pick it up anymore, and you're right, it's out of sight, out of mind at that point," said Eaton."

I copied this from the Kansas City Fox News report. Another nail in the coffin?
 
Redeye1620 said:
"Eaton said YRC's market capitalization stands at $98 million, and the New York Stock Exchange can de-list a company if it doesn't have $100 million figure for 30 days.

"The analysts fail to analyze it... They don't pick it up anymore, and you're right, it's out of sight, out of mind at that point," said Eaton."

I copied this from the Kansas City Fox News report. Another nail in the coffin?
Click to expand...

YRCW is on the NASDAQ, not NYSE.
 
Redeye1620 said:
"Eaton said YRC's market capitalization stands at $98 million, and the New York Stock Exchange can de-list a company if it doesn't have $100 million figure for 30 days.

"The analysts fail to analyze it... They don't pick it up anymore, and you're right, it's out of sight, out of mind at that point," said Eaton."

I copied this from the Kansas City Fox News report. Another nail in the coffin?
Click to expand...

i have never read that anywhere.......but i do know if yrcw trades below 1 dollar for one month in the nasdq then it will be delisted from the nasdq and become a penny stock.....that would not be healthy at all for the company......anyway have a Happy Thanksgiving everyone and lets pray that this ship doesnt take on anymore water.........:1036316054:
 
The way it was explained to me, the stock has dropped low enough, the lenders are requiring additional collateral for the loans. Stock was used for the current collateral. Now everything YRC owns is collateral. YRC is not in default on any loans, and are currently on time on all payments, according to my source.
 
yrc will be done when the next pension payment to the union is due, period , end of story. then you will hear about yrc and teamster leaders flying their jets to DC to beg for money.
 
FTEbubbaArmy said:
yrc will be done when the next pension payment to the union is due, period , end of story. then you will hear about yrc and teamster leaders flying their jets to DC to beg for money.
Click to expand...

Arent the pension payments taken out each pay period and sent to the IBT? Now I can see problems when we get a raise in April...
 
Same here

jimd5555 said:
Commercial Lovelace is another example of this. They sold their assets and then leased them back before going out of business.
Click to expand...

Same here!!! Duff truck lines and O.K. trucking and Wintz freightways did the same thing. All three had the same answer when they sold or went out of business, that there is no money to divide up. as all equipment and property was leased, there is no money for us to go after and that is what central states will run into when they try to collect their billions owed to them. I bought in at $1.56 and sold at $ 2.30. I had 1600 shares. I pretended I had went to vegas and played, This is the only time I have won. :biglaugh::biglaugh::biglaugh:
 
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