YRC Worldwide closes the $38.7M sale of its logistics business

Discussion in 'YRC Freight' started by Jeff, Aug 17, 2010.

  1. Jeff

    Jeff Highly Trained Staff

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  2. billyzollars

    billyzollars Member

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    Finally picked up some pocket change for mommas new shoe collection. I'm starting a Hedge fund if anybody is interested in donating some money.
     
  3. clydesdale

    clydesdale Well-Known Member

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    they stole yrc logistics they should of got more like 380 million
     
  4. bootleg707

    bootleg707 Member

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    I think they only got a small part of logistics. Remember Stull he has a part of the venture co. YRC kept the 2 China Co's and is in cahoots with the ventue co. Bye Bye more pension money!
     
  5. clydesdale

    clydesdale Well-Known Member

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    Stull has another logistics company but i fogget the name its not miq
     
  6. Vwaggs

    Vwaggs Active Member

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    The question is whether this was a sale or the manipulation of business to a non related SBU.
     
  7. SoCalkid

    SoCalkid Banned

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    This money lasted how long???
     
  8. aaronkeif

    aaronkeif Member

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    YRC (Nasdaq: YRCW), an Overland Park-based trucker, said Monday that it received the initial proceeds of $33.6 million, with an additional $5.1 million placed in escrow to cover transferring ownership of foreign subsidiaries and for indemnification purposes.

    YRC said the sale was designed to streamline its operations and raise much-needed cash. However, it also expects to pay as much as $11 million in charges to close down some services tied to the division.

    The company said it will retain its two China-based joint ventures and will continue to offer logistics services to its customers through a partnership with Austin Ventures.



    Read more: YRC Worldwide closes the $38.7M sale of its logistics business - Kansas City Business Journal

    Doesn't sound like a company ready to shut it's doors!!!
     
  9. Vwaggs

    Vwaggs Active Member

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    I love where they sold it, however will continue giving them business.
     
  10. longblade

    longblade im here to make you uncomfortable

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    yes they will give them our work but the money made has already been turned into what they use in china for cash
     
  11. dgenr8

    dgenr8 Member

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    Do you have a link? I will post it in the breakroom....thanks in advance
     

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