Yellow | YRC starts debt buyback dependent on union wage reduction
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truckinokie
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Is Million Dollar Bill going to give some back?
Is it everyone? Seems not to be fair if it isnt.They just keep saying union wage reduction.
I like how they set us up for the blame if we vote it down and the whole company goes under. Headlines don't tell you that this never works, they don't tell you that we were not the ones who made the decision to buy USF. All they will tell you is that the Teamsters would not vote for a pay cut so they closed the company down.
redhawkflhtcu
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The press never tells it all just what the powers that be want to be released to the public. Those darn uncaring union workers made the whole company go under, dollar zollars never had a hand in it he just takes his overpaid salary and even more insane bonuses and blames it all on poor little me and the rest of my brothers that have no hearts and are greedy.
All good points and of course there we are. Zollars borrowed money first to buy Roadway then the USF deal which from day one the stock market watchers said he paid way to much for.
He wanted to be the king of trucking and now it's us peons who will be the ultimate losers if this goes through...........
When the times were good he didn't offer a 10 -20 % wage increase to us......
He wanted to be the king of trucking and now it's us peons who will be the ultimate losers if this goes through...........
When the times were good he didn't offer a 10 -20 % wage increase to us......
The Teamsters have a chance here to make the national spotlight highlighting CEO incompetence by setting the condition for any give back on Zollars resignation.
Its hard not to assign blame, but its too late for that. We have to decide if we can afford to take the give back to keep our jobs. Our BA came to see us yesterday morning, he said that the Union wants across the board give backs, Management and Union. If thats the case, it makes the give back easier to accept.
Northern Flash
Today's Democrats are similar to Commies.
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Excellent point! Hoffa should be using this on the National stage. Hoffa should stand up for us, and make Zollars look like the fool that he is.
Step Back and Look At Yellow as a Business
How many companies in this country have left the US and opened businesses in other countries? This article tells you what Yellows plans are.
YRC Worldwide acquires Shanghai Jiayu Logistics
YRC Worldwide, a provider of less-than-truckload transportation services, has announced that its wholly owned subsidiary YRC Logistics has successfully closed its acquisition of Shanghai Jiayu Logistics, a provider of truckload and less-than-truckload ground transportation services in China.
With over 30,000 customers, 1,800 employees, 200 locations and a network of more than 3,000 vehicles, Jiayu is expected to provide an ideal platform for YRC Worldwide to support the needs of both local Chinese customers and large multinational companies with transportation requirements in China.
YRC Logistics acquired 65% of the stock of Jiayu for $44.7 million. YRC Logistics expects to purchase the remaining 35% interest in 2010, for an amount not to exceed $39 million, as determined by the level of Jiayu's 2008-09 financial performance.
Datamonitor - YRC Worldwide acquires Shanghai Jiayu Logistics - News
They own 65% of Shanghi Jiayu as of Aug08. (Look what our stock has done since Aug 08) They plan on purchasing the other 35% in 2010. Would it make sense to have a business in the US eating up the profit after going to the trouble of relocating to China? If they can gather up all the trucking companies that are union and close them or at least make them less of expense,(i.e.concessions) then come back and open up a (non union) or a more profitable union company (i.e. concessions)to work hand in hand with their company in China, they've made a good BUSINESS choice. Businesses have to make choices that are good for Business. Period.
Not only that,but look into the back ground of the people Yellow has recently hired.What companies have they come from and how will yellow use them as an asset.in China.and the US.
Yellow is going to move ahead with or without you. Nothing personal, just cold hard business. Just IMHO.
How many companies in this country have left the US and opened businesses in other countries? This article tells you what Yellows plans are.
YRC Worldwide acquires Shanghai Jiayu Logistics
YRC Worldwide, a provider of less-than-truckload transportation services, has announced that its wholly owned subsidiary YRC Logistics has successfully closed its acquisition of Shanghai Jiayu Logistics, a provider of truckload and less-than-truckload ground transportation services in China.
With over 30,000 customers, 1,800 employees, 200 locations and a network of more than 3,000 vehicles, Jiayu is expected to provide an ideal platform for YRC Worldwide to support the needs of both local Chinese customers and large multinational companies with transportation requirements in China.
YRC Logistics acquired 65% of the stock of Jiayu for $44.7 million. YRC Logistics expects to purchase the remaining 35% interest in 2010, for an amount not to exceed $39 million, as determined by the level of Jiayu's 2008-09 financial performance.
Datamonitor - YRC Worldwide acquires Shanghai Jiayu Logistics - News
They own 65% of Shanghi Jiayu as of Aug08. (Look what our stock has done since Aug 08) They plan on purchasing the other 35% in 2010. Would it make sense to have a business in the US eating up the profit after going to the trouble of relocating to China? If they can gather up all the trucking companies that are union and close them or at least make them less of expense,(i.e.concessions) then come back and open up a (non union) or a more profitable union company (i.e. concessions)to work hand in hand with their company in China, they've made a good BUSINESS choice. Businesses have to make choices that are good for Business. Period.
Not only that,but look into the back ground of the people Yellow has recently hired.What companies have they come from and how will yellow use them as an asset.in China.and the US.
Yellow is going to move ahead with or without you. Nothing personal, just cold hard business. Just IMHO.
The consummation of the tender offer is not conditioned upon any minimum amount of Notes being tendered, but is conditioned upon the satisfaction or waiver of the conditions set forth in the Offer to Purchase. One such condition is that the employees of subsidiaries of the company represented by the International Brotherhood of Teamsters who are subject to the National Master Freight Agreement, effective April 1, 2008 through March 31, 2013, shall have ratified an amendment to that agreement regarding a wage reduction. The company is currently discussing with the International Brotherhood of Teamsters a proposal to enter into such an amendment. They have us between a rock and very hard place....