Holland | YRC to Record Up to $800M Charge in Q4 (AP via Yahoo! Finance)
In this article it states;
The company, which also offers logistics services, said the impairment charges mainly relate to a drop in the estimated value of the former USF Corp. companies that YRC Worldwide purchased in May 2005. Those companies now make up YRC's regional transportation business division.
The rest of the charges come from a reduction in the value of the trade names of USF and Roadway, which YRC Worldwide acquired in 2003.
In another article posted here on the boards states;
YRC Worldwide said the charges mainly relate to a drop in the estimated value of the former USF Corp. companies that YRC Worldwide purchased in 2005. Those companies now make up YRC's regional transportation business division.
Well ya it isn’t worth as much as when they bought it!!! When you closed down half of it the value of it will probably cut in half. They forced down our throats this thing call synergies, I do not see where we have benefited from any of it. We used to get new trucks at 750,000 miles now I haven’t seen a new one in quite a while now. It isn’t because we aren’t pulling our weight either; I know that in our area we are moving more freight than the other YRC companies.:smilie_132:
The company, which also offers logistics services, said the impairment charges mainly relate to a drop in the estimated value of the former USF Corp. companies that YRC Worldwide purchased in May 2005. Those companies now make up YRC's regional transportation business division.
The rest of the charges come from a reduction in the value of the trade names of USF and Roadway, which YRC Worldwide acquired in 2003.
In another article posted here on the boards states;
YRC Worldwide said the charges mainly relate to a drop in the estimated value of the former USF Corp. companies that YRC Worldwide purchased in 2005. Those companies now make up YRC's regional transportation business division.
Well ya it isn’t worth as much as when they bought it!!! When you closed down half of it the value of it will probably cut in half. They forced down our throats this thing call synergies, I do not see where we have benefited from any of it. We used to get new trucks at 750,000 miles now I haven’t seen a new one in quite a while now. It isn’t because we aren’t pulling our weight either; I know that in our area we are moving more freight than the other YRC companies.:smilie_132:
jimmyjoe (jj)
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All I can say it is a "SHAME". A once proud Union Carrier operating right around 90 for years is now supposed to operating over a "buck". And all it took was just a few hard years after being purchased by Yellow Corp. to achieve this.
I just sit and wonder what is in store for us next!! I can hardly wait!:Violin:
I just sit and wonder what is in store for us next!! I can hardly wait!:Violin:
imported_axman0929
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keep in mind, usf holland pays yrc $800k a week to use the usf holland name and merchandising materials. that adds up pretty quick and can drag the numbers down.
imported_axman0929
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where in sam hell did you come up with that?that's so far out there i can't respond
overheard it on a conference call, until you can prove me wrong, i would appreciate it if you were not so undermining. i think that some of you forget that those of us here are all working towards the same goal
axlethedriver
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how much blood can you get out of a turnip?
i'm not the one with the 800k figure you are why should i prove you wrong maybe you can come up with more than overheard it to prove your figure. 800k a WEEK is about 45million a year. just sounds awfully high to me. just to do what again? what goal are we working towards with that post?
grimreaper
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good post axman .... some guys think they live in a perfect world and they are in denial ..
and they know more than othersgood post axman .... some guys think they live in a perfect world and they are in denial ..
HUH?????????
I take exception to that remark. You wanna yell about Yellow have at it but you left R in the YRC :tongue0002: Man we're in the same boat since the purchase.:annoyed: I to wish for the day after Yellow. :BS:IMO you are correct. Everyone knows that Holland was a very successful money making union carrier.... I don't know too much about the nonunion Dugan...I do know that in 1987 TNT Ltd of Sydney Australia bought Red Star Express Lines which at the time was a very successful family owned union trucking company. A few years later, TNT Ltd. took their 5 profitable U.S. trucking companies, Holland, Dugan, Bestway, Reddaway & Red Star and successfully formed the publicly traded TNT Freightways. They later changed the name from TNT to USF.
When TNT bought Red Star, one of the 1st things they did was to shut down our biggest moneymaker, the highly profitable Canadian operation....TNT/USF ran Red Star into the ground ruining it. Kind of like what YRC is doing to USF/ New Penn right now.
2631 i work at red star at long island form 1988 til there sudden closing ,as i quess u did , just seems when a company makes money u leave them a lone soo they keep making it, soo why mess with it as tnt new .just hope usf companies survive,the yellow years, working at abf now was
at 219 am now at out west still at abf great company just miss the redstar days.
at 219 am now at out west still at abf great company just miss the redstar days.
Nice 2631. Thats a new angle to the RS disaster. I've been with Holland since the blue shoe was in our trailers and never heard this theory. How did Opie miss this. GRIZZ
rrider1971
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guess everyone forgot what yellow did to all the guys at preston bought them up took away all their good paying accounts then asked for if I remember correctly 10yrs of reduced wages to get the company (preston)back on its feet and 9yrs later shut them down
I don't get your point. What new angle? What are you trying to imply? Before TNT Ltd. bought Red Star we were operating in the mid 80's. TNT Ltd owned Overland up in Canada. They bought their competitor & shut them down, thats a fact. They took away our most profitable business.
As to the forming of TNT Freightways, thats also a fact. I remember how they boasted about their 5 profitable U.S. trucking companies & their synergy plans.
Grizz, I don't even know what a blue shoe is & what I posted is not a theory. They are the facts! TNT/USF bought a well run highly profitable union carrier & ran them into the ground. They owned Red Star & had every right to run them any way they wanted to, & they did.... Kind of like what YRC is doing to you guys.