YRC's Welch Is Done Talking About Arkansas Best Bid!

Discussion in 'ABF Freight System' started by Freightmaster1, May 23, 2013.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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  2. nothumbleenough

    nothumbleenough Member

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    I sure don't understand how you surmise that the sec, justice or labor departments would be even faintly interested in this possible merger. Welch disclosed he would like to buy abf at 18 a a share price. What is the controversy?
     
  3. Gpkutze

    Gpkutze New Member

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    Contract talks,inside information,high stock options activity and manipulation. Boards of directors Need more money for their foundations.
    Is this America? Pretty sad all around.
     
  4. albag

    albag Pray for peace!

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    In spite of what some here believe it was a business proposition. Nothing more, nothing less.
     
  5. Pulled Both Ways

    Pulled Both Ways New Member

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    Do you honestly think that ABC forced Welch to say what he said? Guess we need to call in Jessie McMahon to investigate the conspiracy.
     
  6. nothumbleenough

    nothumbleenough Member

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    Information is king. Most likely abf leaked the story to dc velocity in an added attempt to raise pressure on us to approve the contract. However as Albag essentially said, Judy didn't make Welch drive to ft. Smith and make an offer on abf. I much prefer having this information before voting on the contract rather hearing about such an important fact post-voting.

    The stock doubled in price because major institutional investors came in hard and fast. The option activities naturally increased because these same institutions were hedging their investments. This is common practice, not something suspect.

    Every teamster has full knowledge of likelihood of YRC acquiring us if our stock price falls due to us rejecting their contract . We may not know to the exact way YRC ownership would impact our futures as drivers but we do know something will change . No whining no matter how this whole thing plays out!
     
  7. TurnCoat

    TurnCoat Member

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    Cha, ching! Bingo!
     
  8. vongrimmenstein

    vongrimmenstein Well-Known Member

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    Investigate

    Who is Jessie McMahon?
     
  9. Gpkutze

    Gpkutze New Member

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    Unusual high options was 1 day before the tentative agreement was reached and announced. Looks like someone took advantage and traded on this.
    SEC can find out if they decide to investigate. Money made illegally usually haunts parties involved.
     
  10. 100 miles drom home

    100 miles drom home Banned

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    You never know what's coming down. Buyout info is usually a military secret so as not to inflate a stock price but one thing is for sure. And that is if YRC buys ABF the impact on ABF teamsters will not be a good thing
     
  11. GO40

    GO40 Banned

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    After reading several of you posts it seems you would be happy for a buy out / job lose of many, many teamsters....
     
  12. 100 miles drom home

    100 miles drom home Banned

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    You need to grow up. We're talking business. Job loss is inevitable one way or the other. I don't think there will be a buy out because I think the contract will be approved
     
  13. GO40

    GO40 Banned

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    What's your position at yrc? And it's not always about business , it's about people & their family's that's something you don't care to much about.....
     
  14. 100 miles drom home

    100 miles drom home Banned

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    Ya right. CEO's don't answer to families. Your family is your responsibility. A 'grow up drivers' thread was started. Why don't you join it and post some more kid stuff?
     
  15. GO40

    GO40 Banned

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    Better yet we can start a jealous entry level clerk thread..... Don't bump your head on the top of the desk sweetheart ....
     
  16. Hoodock

    Hoodock Well-Known Member

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    A buyout will be more likely after ratification! The question is who`s buying who`s selling???
     
  17. 100 miles drom home

    100 miles drom home Banned

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    A buy-out is already built into the ABF stock price. The ABF stock price will fall if the contract is rejected. If so a YRC takeover makes sense if they can have ABF at a low price for reducing capacity, competition and improving density. It would benefit both companies but nothing is more terrifying in the minds of ABF teamsters then that happening
     
  18. papajohn

    papajohn Banned

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    I think the management are more afraid of a ABF selling to YRCW whether thru a sell or a takeover. They will be the first to lose their jobs, It will also depend how YRCW would run ABF. The only winners would be upper management and stockholders. But to be honest with you I would not want to be a YRCW stockholder, as they have screwed and abused them since Yellow bought Roadway, and has only been worse to be a stockholder with YRCW stock in recent years. YRCW IS A PARASTITE AND WILL DESTROY ANYTHING THEY TOUCH.
     
  19. GO40

    GO40 Banned

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    Papa, dont waste your time. If this does happen we will have no problem getting a job. but low & mid level managment will be screwed especially the ones from yrc. They will keep abf side beacuse they make money no matter what they say. This may be a blessing 20 years in ltl I will walk away & find something better beacuse I will never go back to yrc....
     
  20. TurnCoat

    TurnCoat Member

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    I don't think anyone's AFRAID, but many are CONCERNED about losing their job...if a merger were to happen. Only the most senior union folks would have a chance to bump in, and with YRCW adding more debt, because it would require more debt, they would be grinding that interest out of labor....The day will come when YRC's notes will be called. Just paying the interest won't be enough. Those at the very top, are independently wealthy anyway, and will be ok....as long as all transactions were handled legally and properly, and the attorneys have made sure of that...I would like to see ABF get 5 more years personally
     

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