Well they better hurry, banks need an answer by Friday. More proof this is bullcrap!
That is funny! We need an answer by Friday: LMAO:
All involved have only known this since August 8, 2013.
Well they better hurry, banks need an answer by Friday. More proof this is bullcrap!
That is funny! We need an answer by Friday: LMAO:
All involved have only known this since August 8, 2013.
That is funny! We need an answer by Friday: LMAO:
All involved have only known this since August 8, 2013.
Welch has known about the debt payment due dates since he took over in July, 2011.
To be fair, so have we. I remember reading when the last concessions were approved and thinking, "Thank God, 2-3 more years" - which is why this doesn't surprise me in the least. The economy hasn't picked up enough to have generated the cash flow that YRC needs to meet those payments. And once again, I hate to say it, but there is no doubt in my mind that I'm willing to go back to the table again to try to get another 5 years.
I refuse to believe there are massive sums of money that management has siphoned off to the Caymans or wherever. The banks and the teamsters own this company outright. It's their responsibility as owners to demand transparency and accountability from management. All of these banks have had their own accountants go over YRC's books which is the only reason there is a glimmer of hope for refinancing.
Welch has known about the debt payment due dates since he took over in July, 2011.
I was thinking about a post on TDU's website which mentioned the banks on August 8, requesting another lengthy extension.
I, myself, assumed, rather then paying off any debt at all, YRC would re-finance over and over and over.
All you small head NO FOLKS. take what you can when WHEN you can. Live to fight another day. Im not here to insult anyone. Just tired of people ready to give up. Were all ******. Dealt bad hand but if we can hold on better than alternative. In another life'been there done that' and you wont like it.
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You all can still work and stay at the same level as now.
Sell off USF.
Can not you all see when you need cash you sell off something and the big one is USF.
Yes you are mostly right BIG R GUY.
That is why I say sell off USF and then you will lower the principle with a hope of recovery.
Why does no one else see that?
Stop thinking like short turn.
I bet Welch already figured that out and that is why he is putting all the new equipment (TRACTORS) into USF for California to meet pollution standards and to have something to sell.
Think about it after the contract is signed with the union then sell USF off and he wins 4 times (4X) contract with teamsters and gets rid of USF and lowers principle and company goes on for awhile and dumps the lease on all the lease equipment to USF also or takes all the equipment with him and puts it back in YRC leaving who ever buys USF with no equipment.
Welch is NO FOOL and he is thinking way, way ahead.
Just my opinion, but He is looking at his options, I would bet and plus he will come out the big hero for saving YRC.
Does this not sound like something the banks would be up to also?