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Yellow | YRC Worldwide Provides Quarter-To-Date Operating Data for First Quarter 2018

I'm just a blue collar man.
As are most here.
Can someone in simple language and not being smart about it because it's a simple question. I know I'll get flak. Let's try not to. OK Please.
After 8-9 years with no profit why are the doors still open?
They say all kinds of stuff like in the above article but that means nothing to me.
Is it because the banks and stockholders are making enough?
Why?
If a company is not making a profit why do they still operate?
I saw an article about Old Dominion. They were operating like at an 83 or 84.
We. We are above 100. We pay to move freight.....or stay open.
Makes no sense.
 
See our -15% making a difference :greedy dollars: and Just keep drinking that Kool Aid :duh:
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mysticobra said:
I'm just a blue collar man.
As are most here.
Can someone in simple language and not being smart about it because it's a simple question. I know I'll get flak. Let's try not to. OK Please.
After 8-9 years with no profit why are the doors still open?
They say all kinds of stuff like in the above article but that means nothing to me.
Is it because the banks and stockholders are making enough?
Why?
If a company is not making a profit why do they still operate?
I saw an article about Old Dominion. They were operating like at an 83 or 84.
We. We are above 100. We pay to move freight.....or stay open.
Makes no sense.
Click to expand...

We have made profit since the MOU....not a lot but have also paid off over 100 million in debt in the last year and a half , bought new equipment, and pay 90 million in interest each year.
The potential is there with 4 billion in revenue and I think that is what entices the lenders and investors.
The O.D drivers I talk to work 13 or 14 hours daily most of the year at straight pay.
They are on 70 in 8 in the city and recognize the 34 hour reset.A driver told me he works 65 to 67 hours per week Monday through Friday in the summer.Their insurance doesn’t compare to ours ...not even close.They are better managed terminals to terminal and their employees absolutely don’t steal time at a fraction of what ours do.
Kinda hard to compete with all of that.
 
falconfan said:
We have made profit since the MOU....not a lot but have also paid off over 100 million in debt in the last year and a half , bought new equipment, and pay 90 million in interest each year.
The potential is there with 4 billion in revenue and I think that is what entices the lenders and investors.
The O.D drivers I talk to work 13 or 14 hours daily most of the year at straight pay.
They are on 70 in 8 in the city and recognize the 34 hour reset.A driver told me he works 65 to 67 hours per week Monday through Friday in the summer.Their insurance doesn’t compare to ours ...not even close.They are better managed terminals to terminal and their employees absolutely don’t steal time at a fraction of what ours do.
Kinda hard to compete with all of that.
Click to expand...
Thank you.
 
falconfan said:
We have made profit since the MOU....not a lot but have also paid off over 100 million in debt in the last year and a half , bought new equipment, and pay 90 million in interest each year.
The potential is there with 4 billion in revenue and I think that is what entices the lenders and investors.
The O.D drivers I talk to work 13 or 14 hours daily most of the year at straight pay.
They are on 70 in 8 in the city and recognize the 34 hour reset.A driver told me he works 65 to 67 hours per week Monday through Friday in the summer.Their insurance doesn’t compare to ours ...not even close.They are better managed terminals to terminal and their employees absolutely don’t steal time at a fraction of what ours do.
Kinda hard to compete with all of that.
Click to expand...

In addition, most residential and distant service areas are farmed out to contract carriers.
 
falconfan said:
All of that means zero without an operating ratio.It doesn't matter how much we haul or how much we increased pricing if we aren't making a profit.
Click to expand...
What they are saying is, they are seeing positive revenue on the better paying freight, and decreasing the amount,of less profitable freight they handle. Kind of a report card, mid quarter,to calm the speculation of the market?
 
mysticobra said:
I'm just a blue collar man.
As are most here.
Can someone in simple language and not being smart about it because it's a simple question. I know I'll get flak. Let's try not to. OK Please.
After 8-9 years with no profit why are the doors still open?
They say all kinds of stuff like in the above article but that means nothing to me.
Is it because the banks and stockholders are making enough?
Why?
If a company is not making a profit why do they still operate?
I saw an article about Old Dominion. They were operating like at an 83 or 84.
We. We are above 100. We pay to move freight.....or stay open.
Makes no sense.
Click to expand...

You have a valid question, and financial reports can be very confusing. They news was liked by investors our stock went up.
As regards to staying open with continual losses. Companies of all sizes from the mechanic down the street to YRCW can use tools to show losses on paper, the bigger the company the more losses they can generate. When companies start to make money they can pay taxes on it, or invest back into the company with capital expendutries (equipment) or hire more people to make even more money. The bigger the company the harder it is to keep track of wasteful spending,
something YRCW is very good at (wasting). They can depreciate equipment out and show a loss against profit. Lets say they buy a new tractor for $125.000 and depreciate it over 7 years( several options for term) that is almost 18,000 per year off profit,lease tractor will not get depreciation, but the lease payment is deductible. (buying back tractor at end of lease is another topic)
Several years back I had a article that showed YRCW had changed how they depreciated tires, and were able to show a 2 million dollar loss in preceding year.
The point is the better your accountant is the more you can show as a loss. Big companies have CPA'S and Lawyers that know rules inside and out and take full advantage of them.The big problem with that is they get so hung up on what looks good on paper they forget the fundamentals of being efficient.
Another advantage they have is YRCW being holding company.
There are some things to look at that we and the union are letting slide by. We have become so top heavy with upper management that it is killing us.
I have something I am working on and putting together that puts things in perspective to last statement.
 
BIG R GUY said:
What they are saying is, they are seeing positive revenue on the better paying freight, and decreasing the amount,of less profitable freight they handle. Kind of a report card, mid quarter,to calm the speculation of the market?
Click to expand...

I agree it sounds good, but we may still have lost a million bucks in the process.
 
mysticobra said:
I'm just a blue collar man.
As are most here.
Can someone in simple language and not being smart about it because it's a simple question. I know I'll get flak. Let's try not to. OK Please.
After 8-9 years with no profit why are the doors still open?
They say all kinds of stuff like in the above article but that means nothing to me.
Is it because the banks and stockholders are making enough?
Why?
If a company is not making a profit why do they still operate?
I saw an article about Old Dominion. They were operating like at an 83 or 84.
We. We are above 100. We pay to move freight.....or stay open.
Makes no sense.
Click to expand...
One of the most logical posts here.

Answers
YRCW has survived by employee concessions and the amount of interest paid to the banks. Since 2009 YRCW has paid over $1,300,000,000 to the banks in interest. They pay 3x the interest that ODFL pays.
You’re correct ODFL operated at 83.9 last year. The just gave tonnage guidance 2 weeks ago and ther February tonnage is up 19%, compared to negative numbers at YRC Freight and flat tonnage at the regionals for February.
YRCW has also stayed in business due to their lowering prices on the 3PLs. Their new COO came from a 3PL and about 55% of their revenue comes from being the lowest priced 3PL carrier.
They also have not treated their employees fairly and don’t value them. Spills over to bad service and poor quality.
I have been in the business since 1977 and have never seen a more favorable environment for the carriers to raise rates due to market conditions overwhelming favoring the carriers.
 
Thank you.
I've been here 31 years.
Mostly dock. Switching. Couple years of p&d in the beginning.
I've seen the evolution of treatment and value of employees over this period.
In the beginning it was ok. They didn't treat people great but they knew we had value.
And of course over the years we gained knowledge of how things work. And they used that by listening to us and using suggestions. And it worked.
I didn't love going to work the first two decades plus. But I didn't mind going in and working.
Now. Like alot of others. They've made it worse. They haven't really changed how they do things. Just employ anyone. I do mean anyone. That will take a supervisory position. Or. Anyone with a cdl. Does anyone remember their casual time?
If you didn't bust your ass you didn't get called back. Period.
Now. It's just total disregard of any suggestions. Ones that would work.
Anyways I think they are too busy plugging too many holes to do anything else but plug holes.
This is just my opinion. My view. I have spent half my life there. What's disappointing is I have nothing to look forward to. Something they will never make up for.
In the end they should. And offer new employees a good wage and a future with a good retirement. We had that 30 years ago. Something to work for and motivate most to do a decent job. If they don't have that. They won't survive in my opinion. It's just common sense. They may be able to keep chuggin for another decade. Maybe. But what happens after that.
I know times change.
Companies change.
People change.
That's life. I accept and adjust.
I know my post is a little scattered.
Sorry.
It's 80 degrees and beautiful outside so that's where I'm going. Out.
:17142:
 
In my opinion management has lost health insurance and like the work force wages and pension the good ones have moved on the ones they hire are green or ineffective cast offs from other trucking companies. They are still trying to run as a top down management structure and it does not work never has never will.
Go back to the old way of making the TM the man in charge pay him well(bonus tied to local goals/profit) and let him make decisions based on his local profit, put him in control of his local operation, sales team, maintenance, let the relays dispatch the way they need to.
As it stands now the downward spiral continues and will until the end.
 
When I started as a casual with Roadway Express in 1981, there was no parent company or other companies, just Roadway Express. At shift meetings we were told at the time Roadway Express had $350,000,000. in profits in the bank, or wherever, and they were obligated to their share holders to start investing this money. The parent company Roadway Services was formed, then the buying of other trunklines started and RPS was born. One of my proudest days came in 1982 when Roadway was forced by the Teamsters Union to hire me full time. Lots of Roadway discipline back then but I was use to it. When Yellow Corporation bought Roadway Corporation, the Roush family that owned Roadway Corporation said they were obligated to take the $980,000,000.00 offer for the benefit of the shareholders. I retired six months after the merger. If not for the buyout, who knows where Roadway Express would be today?
 
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mud said:
When I started as a casual with Roadway Express in 1981, there was no parent company or other companies, just Roadway Express. At shift meetings we were told at the time Roadway Express had $350,000,000. in profits in the bank, or wherever, and they were obligated to their share holders to start investing this money. The parent company Roadway Services was formed, then the buying of other trunklines started and RPS was born. One of my proudest days came in 1982 when Roadway was forced by the Teamsters Union to hire me full time. Lots of Roadway discipline back then but I was use to it. When Yellow Corporation bought Roadway Corporation, the Roush family that owned Roadway Corporation said they were obligated to take the $980,000,000.00 offer for the benefit of the shareholders. I retired six months after the merger. If not for the buyout, who knows where Roadway Express would be today?
Click to expand...

"Who knows where they would be, had you not retired?"
 
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