This site is obviously anti-YRC blogger, which is fine because I think all this is smoke an mirrors and some entity will make out just fine if YRC collapses. How, I don't have a clue because it seems like they are taking extremely low value stock and diluting it even further.
As far as assets, what about equipment? I know they sold their real estate to lease back, but I have to assume that the bond holders now own everything except the real estate correct? So YRC really doesn't have any assets for leverage correct? (And I'm sure their employees rate just about as highly with YRC management as we do with ours).
So if the bond holders say enough is enough, which wouldn't make any sense since they wiped out their loans for almost worthless stock, (which on the face of it seems childishly stupid), even if they close the doors, they will be making mere pennies on their dollar investment right? But would they make more this way than if YRC had simply declared bankruptcy? If the stock is worth 5 cents, I guess that would be better than getting a penny on the dollar.
And is it true that Estes holds the real estate?
I'm the first to admit I know next to nothing about high minded financial dealings.
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