Yellow | YRC Worldwide's (YRCW) CEO James Welch on Q1 2015 Results - Earnings Call Transcript
- Thread starter Freightmaster1
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Michigan Bill
Good luck!
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Well why do you think they bought the new equipment, to help offset that pesky profit they would have to show!!!
Freightmaster1
TB Legend
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That may be because e-mail moves as slow as the freight @ 511 ????
Michigan Bill
Good luck!
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I don't know. I just started here, and I have a friend who has worked here for a long time. after hearing about this for YEARS, I don't worry about the financials, as it seems like our employer is running a back alley 3 card Monte game with their money. did you honestly think they were going to SHARE their profits with you?
You don't know?
If every bargaining employee were driving brand new equipment, then just maybe I might believe it was all purchased with the intent of reducing profit margins to avoid profit sharing.
A few hundred tractors to replace a decrepit fleet; not so much.
Do I believe they will 'share' their profits, yes.
Do I believe the numbers required to achieve this 'profit sharing' are out of line?
Absolutely. The reward for which to strive is outlandish, but is achievable.
Reduce accidents, injuries and claims by 80 -90%
Given the enormous size and age of YRCF's capital stock (tractors & trailers), normal replacement costs are well beyond our means. Containing other costs which are manageable (cargo claims, W/C, fuel, tires, and accidents) is essential. The goals, as Elwood has pointed out, are achievable. But not without effort from all. 
Given the enormous size and age of YRCF's capital stock (tractors & trailers), normal replacement costs are well beyond our means. Containing other costs which are manageable (cargo claims, W/C, fuel, tires, and accidents) is essential. The goals, as Elwood has pointed out, are achievable. But not without effort from all.
You cannot be suggesting employees actively participate in cost reduction practices voluntarily?
That is preposterous!
The self preservation instincts are questionable for more than a few!
mysticobra
Over Here Now.
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That's funny. But true.
The is one thing YRC has down pat. Storing frt!
Just your job to do the best you can at what ever you do.II always here people say that they are doing 15% less work just answer this if we would have gone out of business and you got another job making what we are now would you do 15% less for that employer and how long do you think you would have that job if you did?
Elwood, Triplex, are you guys buying or recommending buying at YRCW shares at 14.09?Why is it dropping so much?
Perhaps you could write off your free advice as "charity" on next years taxes...Or maybe bill me an outlandish fee that doesn't get paid and claim a loss. Thanks.
Perhaps you could write off your free advice as "charity" on next years taxes...Or maybe bill me an outlandish fee that doesn't get paid and claim a loss. Thanks.
No comment other than do your own extensive research and be aware of 'forward looking statements.'
The company has failed to meet financial expectations and has neglected to fully address issues that might improve chances for greater success.
Just like the 15% wage reduction, I cannot 'write off' as a 'loss,' advice posted in a public forum.
I would never charge a brother or sister seeking advice on company matters to which I was privy or informed.
With all that said, I continue to shake my head at the choices made by fellow employees at all levels; my neck is more irritated and sore than it has ever been.
Michigan Bill
Good luck!
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ok, how bout this, I DO KNOW. why WOULDN'T they lie and bluff, to put themselves in a better position? and why not purchase the equipment after their PROFITABLE quarter, before the "profit sharing"? between the new equipment, the return of the 401k match for the NON union employee's, and their change in compensation for the guys running this sham, i'd say they are pretty good at hiding their money. if you are waiting for any "sharing" from yrcw, i'd pack a lot of dry toast, Elwood......
You say you just started here but you already profess to know all about how YRCW is "hiding" money?
Bill, we didn't meet the O.R. threshold to receive any profit. 2 quarters isn't going to get it done. Let's use ODFL as the yard stick. We have to buy and do everything they are able to do,....plus service a 1.1 BILLION DOLLAR debt load. There are only so many hands in a deck of cards.
I'm just curious, not trying to make you upset, but, why do you stay @ Holland ? You clearly are not happy with YRCW, you're young enough to go else where and build a Pension. Surely there are jobs in the Buffalo area. I don't want to see you leave, I just think you're not being realistic. We're in a tough situation, it's not going to get much better very soon.
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Guess if i'm going to comment, I'll have to footnote (#1 and the thread noted) on the snarky thread,???
(Edit- footnoted and done)
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What do you know? You are making assumptions without stating any facts.
The expenditures you mention are insignificant in the overall scope of things and are sound investments needed to improve the fleet and also maintain the skeleton management crew remaining.
The executive compensation packages, while exorbitant are in line with norms and most of that package includes stock options, not excessive salaries.
Show me evidence of 'hidden monies' and I may be swayed to take your position into consideration.
Refer again to the footnoted #1 of this thread on the snarky thread.