Yellow | YRC Worldwide asks creditors for more wiggle room

[zigzag1149]

Unless you're one of the banks lending them money, why are you getting yourself all in a snit over all of that? Folks in the financial sector have facts and information that we don't.

Do you get paid for every day/hour that you work? Do your pay checks get cashed or your direct deposit get credited properly? That should be your concern. And so far, as far as I know, there haven't been any issues there so why not chill about the things that we have no control over. There are enough things in life to worry about without adding things we can't control.

Considering how many people had to move to keep a YRC job and how many more are being lead to believe the company will make it instead of pounding on doors looking for something new it's perfectly reasonable to ask questions. The only people who wouldn't ask question are people who believe there is no life outside of YRC.

Lots of people like to plan their future and don't see living paycheck to paycheck and hoping they have a job the next week as the way to live. They like to be proactive to look out for themselves, not reactive and waiting until they are in a bind and hard up.

So what are the savings going to amount to from the COO ? Will it be large enough to at least swing YRC-F's operating ratio into the black ? How many dock workers lost hours or jobs and how many linehaul workers lost miles or jobs ?

The union has somebody on the board of directors and is withholding the information, why ? If it was going to amount to real savings the lenders wouldn't have YRCW on it's knee's begging for mercy. The lenders would have already said good job and be bending over backwards to cut YRCW some slack.

 

[Triplex]

Considering how many people had to move to keep a YRC job and how many more are being lead to believe the company will make it instead of pounding on doors looking for something new it's perfectly reasonable to ask questions. The only people who wouldn't ask question are people who believe there is no life outside of YRC.

Don't misunderstand my earlier comments. I absolutely agree with you about having knowledge about what's going on with the company and asking questions to get that knowledge. It's just my opinion that some of that financial information may or may not be helpful to any of us. It's greatest usefulness is to the lenders and financial people and not necessarily to us.

Lots of people like to plan their future and don't see living paycheck to paycheck and hoping they have a job the next week as the way to live. They like to be proactive to look out for themselves, not reactive and waiting until they are in a bind and hard up.

I agree with you again. It's each person's decision to make as to deciding whether to ride it out at YRC or to look elsewhere. I learned a long time ago that there is no such thing as long term job security. I feel that my own security lies solely in my own abilities and experiences and not in any particular employer. The days when you could rely on that are gone in my opinion.

So what are the savings going to amount to from the COO ? Will it be large enough to at least swing YRC-F's operating ratio into the black ? How many dock workers lost hours or jobs and how many linehaul workers lost miles or jobs ?

The union has somebody on the board of directors and is withholding the information, why ? If it was going to amount to real savings the lenders wouldn't have YRCW on it's knee's begging for mercy. The lenders would have already said good job and be bending over backwards to cut YRCW some slack.

Isn't that exactly what YRC is asking for right now, the lenders cutting them some slack? That's my take on it for what it's worth.

 

[Sgt. Schultz]

It is true job security in today`s environment isn`t what it was back in the 50s and 60s where a person got a job and chances were good they could work there all their working life. In some companies,the children of workers followed their parents and spent their career working for the same company. Those of us who could spend 30 or 35 years working for yellow or roadway or any other union freight outfit in this day and time are truly lucky in this economy. I saw an article that stated, the average college graduate graduating this year, would have 7 jobs in his or her working career. It`s understandable that YRC employees would keep all their options open and think twice about moving around the country in order to keep a job with company that`s having financial problems. The problem today is,there aren`t that many options available.

 

[slim66]

Don't misunderstand my earlier comments. I absolutely agree with you about having knowledge about what's going on with the company and asking questions to get that knowledge. It's just my opinion that some of that financial information may or may not be helpful to any of us. It's greatest usefulness is to the lenders and financial people and not necessarily to us.



I agree with you again. It's each person's decision to make as to deciding whether to ride it out at YRC or to look elsewhere. I learned a long time ago that there is no such thing as long term job security. I feel that my own security lies solely in my own abilities and experiences and not in any particular employer. The days when you could rely on that are gone in my opinion.



Isn't that exactly what YRC is asking for right now, the lenders cutting them some slack? That's my take on it for what it's worth.

You're right. Why would an employee be concerned with the financial shenanigans of their. Best be like you and keep your head in the sand and azz in the air.

 

[COLKID]

Unless you're one of the banks lending them money, why are you getting yourself all in a snit over all of that? Folks in the financial sector have facts and information that we don't.

Do you get paid for every day/hour that you work? Do your pay checks get cashed or your direct deposit get credited properly? That should be your concern. And so far, as far as I know, there haven't been any issues there so why not chill about the things that we have no control over. There are enough things in life to worry about without adding things we can't control.

I felt like you do until they had to come begging union workers for concessions and then continued to act & treat us with the same arrogance they had before.So if you need my money to stay open, that gives me the right to say whatever I feel is needed to let these arrogant idiots realize they would not have a job if not for our decision to give up so much. I think you may be mistaking frustration for anger in many of the things discussed here.

 

[unionjoe]

Yea but someone told me that it doesn't hang very far!

(PS - I think it might have been unionjoe and you know he's right on the money on everything!)

Just wondering....what do you do do with those dogs after you get off the computer??? I think you know what I mean!!!

 

[unionjoe]

I started working for Roadway back in the 70s and there was always talk about the company closing,our terminal shutting down,big layoffs,and operational changes.Many people were afraid to buy a house,buy a new car,or do anything basically. Drivers and dockworkers were always talking about quitting and find another job before the next shoe drops. I guess that`s the nature of the freight business. While the financial position of YRC is worse now than it was back then the rhetoric is still the same. Maybe worse. Maybe YRC will go bankrupt or even shut down,but there isn`t anything anyone on truckingboards can do to change that. I have to wonder how many people at Yellow or Roadway spent their 30 plus year career worrying about about when the next shoe was going to drop instead of enjoying the present and the good living that these companies provided. I`ll bet they look back at those 30 years and wish they did things differently. For now the best thing to do is go to work everyday as long as the paycheck is there,if another opportunity comes along in the meantime,jump on it if it means more job security to you. Ya gotta live for today instead of worrying for the next 30 years. No one knows for sure,but YRC may be around for the next 30 years.

Are sgt. shultz and kennesaw kid the same person????

 

[unionjoe]

I have no idea if you really do or not, but judging by your constant negativity I don't get the feeling you're trying too hard to help them survive. I could be wrong though.

You WRONG not A chance in h-ll Triplex,you are the man!! Unless in case your wife says no.

 

[superstar]

> Are sgt. shultz and kennesaw kid the same person????<
You're a big guy on that keyboard-huh? Big on conspiracies huh? Yeah I guess you're right man-we dont want any positive thinkers on here. We don't need any union officials livin' in condo's tellin' us the truth about ourselves. YEAH-YEAH-BRING IT MAN_ BRING IT ON!
I'm with you thou bud. When that breakroom speaks or that CB is talkin' to me I listen.
But then the voice of GOD talks to me- THE INTERNET. "I dun dare reds it on the internet. i--- r ---a --trukdrivar" How about this BILLYBLOW-"MY naybur across the street use to worx the dock at Yellow ( he's on comp now from a bad back ) But he dunce tell me that thays goins to ax me fours another's 5% ''
"EYes will talk big on keyboard and rip people thats want 2's work a new 1"
Listen up clowns-the covenants ARE -( hear that man---the word ARE ) . One more time --ARE going to be renegotiated. This was all known before the end of the year by people in upper mgmt. If by the middle of 2014 this isn't going in the right direction then you can start to worry. Its this simple --the old board of directors hired that clown "the crook Zollars" and he ruined it. Just like he had a hand in ruining KODAK through poor decisions. The IBT, the new BOD and Welch and Rogers are trying to fix it. WTF are you idiots expecting? Instant turn around???? They just got seated you fools. I am not sticking up for the banks but what do you think they want? They want us to make it. What do they get if they liquidate??? Nothing. Pennies on the buck. A spent worthless fleet and used up old aging facilities. Will you idiots wake up.
They are within a hair of making it. Look at the size of the revenues. What they have lost is small compared to the revenue. Time will tell. You think ABF want's us to succeed? Get real. Do you remember their redirect ads? I do. F--- ABF and the container they rode in on. The head legal counsel for Hoffa told me that YRC came crawling through the front door on thier hands and knees begging for help. He also said that ABF comes in asking for the same deal but refused to show them their books. What were they supposed to do?
I wish I could have the conversation recorded where I have an ABF driver telling me- "I can hardly wait for the ax to fall on you guys". I'm looking at the guy thinking "Is he for real?" I drive down the streets waving to ABF guys and they just look at you. Not all of them but it happens enough. WTF - did I do something to these guys? You can stick this brotherhood crap right where the sun don't shine. Oh Yeah about KK here.
I don't know this guy from Adam. Don't know what he looks like. So I'm asking my BA - "Hey did you run into that KK guy down there?" Yeah is that those guys from Georgia. Yeah I saw him. Him and his local are always standing up yelling all the time." Guys please quit listening to the ******s on here. When these guys are out on the street scratching their ass wondering where the next handouts coming from don't feel sorry for them.

 

[slim66]

> Are sgt. shultz and kennesaw kid the same person????<
You're a big guy on that keyboard-huh? Big on conspiracies huh? Yeah I guess you're right man-we dont want any positive thinkers on here. We don't need any union officials livin' in condo's tellin' us the truth about ourselves. YEAH-YEAH-BRING IT MAN_ BRING IT ON!
I'm with you thou bud. When that breakroom speaks or that CB is talkin' to me I listen.
But then the voice of GOD talks to me- THE INTERNET. "I dun dare reds it on the internet. i--- r ---a --trukdrivar" How about this BILLYBLOW-"MY naybur across the street use to worx the dock at Yellow ( he's on comp now from a bad back ) But he dunce tell me that thays goins to ax me fours another's 5% ''
"EYes will talk big on keyboard and rip people thats want 2's work a new 1"
Listen up clowns-the covenants ARE -( hear that man---the word ARE ) . One more time --ARE going to be renegotiated. This was all known before the end of the year by people in upper mgmt. If by the middle of 2014 this isn't going in the right direction then you can start to worry. Its this simple --the old board of directors hired that clown "the crook Zollars" and he ruined it. Just like he had a hand in ruining KODAK through poor decisions. The IBT, the new BOD and Welch and Rogers are trying to fix it. WTF are you idiots expecting? Instant turn around???? They just got seated you fools. I am not sticking up for the banks but what do you think they want? They want us to make it. What do they get if they liquidate??? Nothing. Pennies on the buck. A spent worthless fleet and used up old aging facilities. Will you idiots wake up.
They are within a hair of making it. Look at the size of the revenues. What they have lost is small compared to the revenue. Time will tell. You think ABF want's us to succeed? Get real. Do you remember their redirect ads? I do. F--- ABF and the container they rode in on. The head legal counsel for Hoffa told me that YRC came crawling through the front door on thier hands and knees begging for help. He also said that ABF comes in asking for the same deal but refused to show them their books. What were they supposed to do?
I wish I could have the conversation recorded where I have an ABF driver telling me- "I can hardly wait for the ax to fall on you guys". I'm looking at the guy thinking "Is he for real?" I drive down the streets waving to ABF guys and they just look at you. Not all of them but it happens enough. WTF - did I do something to these guys? You can stick this brotherhood crap right where the sun don't shine. Oh Yeah about KK here.
I don't know this guy from Adam. Don't know what he looks like. So I'm asking my BA - "Hey did you run into that KK guy down there?" Yeah is that those guys from Georgia. Yeah I saw him. Him and his local are always standing up yelling all the time." Guys please quit listening to the ******s on here. When these guys are out on the street scratching their ass wondering where the next handouts coming from don't feel sorry for them.

Switch to sugar-free koolaid. You're gonna become a diabetic.

 

[Triplex]

Switch to sugar-free koolaid. You're gonna become a diabetic.

Typical of your crap posts - attacking the poster and not the post. (You're consistent anyway.)

 

[Hoodock]

Kansas-based YRC Worldwide Inc., the trucking conglomerate with a significant midstate presence, has asked its lenders to amend credit agreements to give the company more wiggle room to meet financial requirements.


YRC is seeking amendments to the credit deals that would reduce compliance thresholds on three key metrics, saying that since October it has exceeded its forecasts and continues to make progress in the company's financial turnaround, according to a filing today with the U.S. Securities and Exchange Commission.

The reduced requirement requests include:

Reducing the threshold for consolidated earnings before interest, taxes, depreciation and amortization, or EBITDA, by between 25 and 35 percent.
Reducing the interest coverage ratio threshold by between 30 and 40 percent.
Cutting total leverage ratio requirements by between 35 and 55 percent.................

YRC Worldwide asks creditors for more wiggle room | Central Penn Business Journal

Again it`s the same old song,just a different singer!!

 

[Yellow who]

How does anyone out here know if it's just smoke and mirros to try and give the investors another snow job or not ? If there is no real savings involved and their only plan is hoping the economy becomes good to YRC so they can increase revenue and hope to make a profit the membership of the union should be told the truth along with investors. What are the numbers ? It's a publicly traded company so investor info comes with being listed on a stock exchange.

How about the sale price of the 61 terminals they sold and the china operation and glen moore ?

what are they hiding ?

They probably dont know what was made on the sale of the terminals since alot of those terminals were put up for collateral, with that being said we all know that when those terminals went away the bank was standing right there with their hands out getting what was rightfully theirs..

 

[unionjoe]

> Are sgt. shultz and kennesaw kid the same person????<
You're a big guy on that keyboard-huh? Big on conspiracies huh? Yeah I guess you're right man-we dont want any positive thinkers on here. We don't need any union officials livin' in condo's tellin' us the truth about ourselves. YEAH-YEAH-BRING IT MAN_ BRING IT ON!
I'm with you thou bud. When that breakroom speaks or that CB is talkin' to me I listen.
But then the voice of GOD talks to me- THE INTERNET. "I dun dare reds it on the internet. i--- r ---a --trukdrivar" How about this BILLYBLOW-"MY naybur across the street use to worx the dock at Yellow ( he's on comp now from a bad back ) But he dunce tell me that thays goins to ax me fours another's 5% ''
"EYes will talk big on keyboard and rip people thats want 2's work a new 1"
Listen up clowns-the covenants ARE -( hear that man---the word ARE ) . One more time --ARE going to be renegotiated. This was all known before the end of the year by people in upper mgmt. If by the middle of 2014 this isn't going in the right direction then you can start to worry. Its this simple --the old board of directors hired that clown "the crook Zollars" and he ruined it. Just like he had a hand in ruining KODAK through poor decisions. The IBT, the new BOD and Welch and Rogers are trying to fix it. WTF are you idiots expecting? Instant turn around???? They just got seated you fools. I am not sticking up for the banks but what do you think they want? They want us to make it. What do they get if they liquidate??? Nothing. Pennies on the buck. A spent worthless fleet and used up old aging facilities. Will you idiots wake up.
They are within a hair of making it. Look at the size of the revenues. What they have lost is small compared to the revenue. Time will tell. You think ABF want's us to succeed? Get real. Do you remember their redirect ads? I do. F--- ABF and the container they rode in on. The head legal counsel for Hoffa told me that YRC came crawling through the front door on thier hands and knees begging for help. He also said that ABF comes in asking for the same deal but refused to show them their books. What were they supposed to do?
I wish I could have the conversation recorded where I have an ABF driver telling me- "I can hardly wait for the ax to fall on you guys". I'm looking at the guy thinking "Is he for real?" I drive down the streets waving to ABF guys and they just look at you. Not all of them but it happens enough. WTF - did I do something to these guys? You can stick this brotherhood crap right where the sun don't shine. Oh Yeah about KK here.
I don't know this guy from Adam. Don't know what he looks like. So I'm asking my BA - "Hey did you run into that KK guy down there?" Yeah is that those guys from Georgia. Yeah I saw him. Him and his local are always standing up yelling all the time." Guys please quit listening to the ******s on here. When these guys are out on the street scratching their ass wondering where the next handouts coming from don't feel sorry for them.

Superstar???? I don't know what kind of medication your supposed to be taking,but I think you need another hit on it! What the hell difference does it make if we negotiate this thing 12 more times???? It does'nt change the fact that we still owe 1.3 billion (hear that man---the word BILLION)one more time BILLION is'nt going to be forgiven!!!! People just like the ones who hired Zollars are now hiring this retread Welch! WTF are YOU idiots expecting?? That somehow people like me and other real teamsters would be happy about how we've been treated???? They did'nt just get seated either,he's been here over 9 months plus he's supposedly ran A truckline before so I'd say the honeymoon period is well over!! Nobody said they did'nt want the company to make it,but the truth is A bunch of bankers who know nothing about trucking now make the final decisions at yrc because they own 70% of the company! What do they get if they liquidate? I would guess they would save millions A quarter by not having to finance this debacle!