YRC Worldwide's (YRCW) CEO James Welch on Q4 2017 Results - Earnings Call Transcript

Discussion in 'YRC Freight' started by Freightmaster1, Feb 2, 2018.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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    YRC Worldwide's (YRCW) CEO James Welch on Q4 2017 Results - Earnings Call Transcript

    https://seekingalpha.com/article/41...-results-earnings-call-transcript?part=single

    Operator

    You’re next question comes from David Ross with Stifel. Please go ahead.

    David Ross

    Good afternoon everyone. Could you – I guess, with the employee hiring difficulties, does that mean that your headcount was down year-over-year and you’re missing some people? Or did you just not have the right people in the right places? So I guess another way to ask that question is, what was – what happened to the headcount year-over-year in both Freight and Regional in the fourth quarter?

    Darren Hawkins

    Yes, David. This is Darren. That would be down in both Regional and YRC Freight. Not large numbers, but to your point about location specific. When we did our network enhancement, we chose locations intentionally around our success of hiring there. So that’s certainly having a contribution to the network. But overall, we’re still a few hundred drivers short. And even in a downtime of the year, that’s crucial. We certainly went to the purchase transportation lever to make up for those shortfalls to continue providing a reliable service to our customers. But the focus that we’ve done and certainly I mentioned it a lot about that in the script this time, just because of the investments we’re making our hiring efforts across the entire organization focused around drivers.

    James Welch

    And certainly, that created more overtime than what we’d like to have, Dave, along with bad purchase transportation, which is that city local cartage. So T.J., you want to make any comments about the Regionals a little bit more than what Darren was talking about?

    T.J.O'Connor

    Well certainly, certainly, in certain geographies, David, we had continued driver demand that exceeded available – for the industry frankly. So certain markets were very negatively impacted by available job seekers and our ability to hire to the needs of the business, particularly in Q4.

    David Ross

    Are you able to adjust wages up high enough. I know that you’ve gotten some concessions from the NMFA previously for market-based hiring. And then, how quickly would you be able to pass that on through better yields or higher pricing?

    Darren Hawkins

    David, the ability we’ve got is to speed up the progression to top out pay. So in most locations, that is sufficient. And once you identify the applicant. The other piece is we’re still capable of attracting drivers from other modes as well just due to the quality of life around LTL. And our turnover’s not near what you see in other segments. So those things are working for us. The wage progression has been a help. But even some of the markets that TJ was just referring to, those are difficult regardless of what the wages are. And I think it was you that commented recently that there hasn’t been any new drivers invented since 1985. And we’re certainly trying to change the trend on that.

    James Welch

    David. This is Jim. I think it’s important to note that we’ve got that wage program in 61 different markets right now. So we’re just starting to have an effect. And certainly we’ll build on that on 2018.
    :bananapartyhat:


     
  2. wongway

    wongway -15% Pay , Never forget

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    Hiring problems when union pay is $5 to $7 bucks below non-union pay scale , gee who would have thought that !!!! and as the saying goes "SHOW ME THE MONEY" :6788:
     
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  3. falconfan

    falconfan Well-Known Member

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    Take the $385 .00 per week the company pays per week per employee,anniversary date and birthday paid,work rules and b's pension contributions we still have the best thing going in LTL Imo.Is there a non union line that anyone would rather work for?
     
  4. choppernut

    choppernut Active Member

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    If you notice not one word about the contract or mou they are riding it til the last possible minute
     
    Keepingon, Try'n Hard and wongway like this.
  5. mysticobra

    mysticobra Just here.

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    Waiting to the last minute to ask for concessions.
     
  6. seabreeze

    seabreeze Not Well Known Member, 60 Year Teamster Member

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    If I were young enough and had to go back to work tomorrow, with all the crap I read about and the concessions, ABF or YRC
    would still be the first two places I would apply for work, just to keep a card in my pocket.
    This two or three tier pay scale is total BS, we never had it when I worked, if I remember correctly, they paid casual and part time
    help a little more because they didn't have insurance, this may have been just in the Carolinas, I don't recall.
     
    troubleman84, albag, wongway and 2 others like this.
  7. Roadway spy

    Roadway spy Member

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    Central States is going broke less than 10 years so you will be paying your own insurance and all them other little perks will be disappearing too.
    There is no future with this company without Central States this company will be gone. If your just starting out or still young start somewhere with a future.
     
    jimmy g and wongway like this.
  8. Frootloop

    Frootloop Well-Known Member

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    A real head scratcher no doubt.
     
    wongway likes this.
  9. supertrucker72

    supertrucker72 Active Member

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    No disrespect but you need to use your insurance and go get a mental evaluation If you think that's the best place to be.
     
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  10. 00mustang

    00mustang NO LTL 4 ME CAR HAUL ONLY

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    Not the health and welfare part of CS, pension maybe not the health side
     
  11. holland68

    holland68 Who cares

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    Where do you come up with this :shit:
     
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  12. falconfan

    falconfan Well-Known Member

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    At least if I did I wouldn’t have to pay thousands out of pocket.

    I don’t have to worry about working 4 days a week whenever I’m told to.

    I don’t have to worry about working 10 to 20 hours of overtime at straight pay every week.

    I’ve never worked road but as for a city man I’ll stay Union.

    You look good with your black pants and have tamed down considerably since leaving, keep up the good work.
     
    Last edited: Feb 3, 2018
  13. wongway

    wongway -15% Pay , Never forget

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    mysticobra likes this.
  14. BIG R GUY

    BIG R GUY NTDC Boardwalk Navigator

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    aztec warrior and wongway like this.
  15. wongway

    wongway -15% Pay , Never forget

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    More $$$$$$$$$ Cool , plus we get a new truck that's turned up to run with the Big Dogs !!
     
  16. falconfan

    falconfan Well-Known Member

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    Every nickel of their revenue is accounted for and scrutinized by analysts and investors.
    It’s cool to vote no if you have the facts.The problem is that a lot of people vote that don’t have a clue and are actually persuaded by listening to non factual bullshi t.
     
  17. wongway

    wongway -15% Pay , Never forget

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    Fact's ??? In last -15% vote it seems only about 50% or less lazy driver's took time to vote ! and plus a GOOD accountant can make the number's look how every they want and to they are already setting up for the 2019 ponzi contract talks and saying we are so BROKE !!! and one more fact is they alway's have money for "BONUSES " ??? riddle me that ??
     
  18. falconfan

    falconfan Well-Known Member

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    You tell me how an accountant can make the numbers look differently than what is taken in and what is spent.The S.E.C. would throw them in prison for fraud.The analysts see every nickel on the balance sheet.There is way to much oversight at YRCW for that to be going on. As far as Ponzi, google the definition, our pension is surely set up identically like a Ponzi scheme but our contracts aren’t. As far as bonuses, 99% of the executives at the top of billion dollar companies get bonuses whether they perform or not.It doesn’t make it right but I bet you wouldn’t turn down a million dollar bonus if someone thought you were special enough to run a billion dollar company.If you look at the financial condition of our competitors and don’t see the uphill battle for survival we have then you choose to ignore facts.
     
  19. wongway

    wongway -15% Pay , Never forget

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    Fine , we are going to have to agree to disagree on this subject ,BUT one point here look at the number of new CFO's people there has been in past 10 years and also with Bonuses ,you are totally ok with Driver's giving back -15% & weeks vacation time and them only paying 25% into pension fund ,while they get BONUSES ?? point here is the Driver's are bleeding $$$$$$ to support their BONUSES , IN MY OPINION THAT IS JUST WRONG !!!!!!!!!!! SO AGAIN YOU THINK YOUR WAY AND MY NO VOTE WILL CANCEL YOUR YES VOTE IN 2019 , HAVE A NICE DAY !
     
  20. falconfan

    falconfan Well-Known Member

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    I never said it was right,it’s just the way it rolls.Would you turn down the bonuses?
    I haven’t seen a contract to vote yes or no on.I don’t automatically vote yes or no.
    I’m glad your mind is already made up.
     
    jimmy g, holland68 and Kennesaw Kid like this.

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