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

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

  1. papajohn

    papajohn Banned

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    Sorry Brother, Management is afraid and concerned, why do you think they are pushing so hard? I do agree with you about YRCW notes will be called in and that is why I personally don't think any kind of buy out will happen. Why would you throw good money on a bad horse that has proven that it will never pay off. YRCW won't be anything more then it is now, and will be lucky to survive. Just my opinion.......
     
  2. TurnCoat

    TurnCoat Member

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    Well, it's obvious from the team report that they are all in cahoots at the top. I've seen it before. This deal is going to get done or they are posting the FOR SALE sign...the investment community and the IBT have publicly been put on notice. ABC Corp. would become debt free minus a union trucking company. A small debt free Corp, with a Billion dollars in the bank can chug right along. And YRCW can always miraculously go deeper into debt, traditionally, a billion at the time. That always seems to be their credit card availability, just one more billion! The Union employees reject the contract, they work under the buyer's contract, the few that get to..The new Corp keeps the best and brightest management to start a new non-union venture..And YRC wears out the ABF stuff and sells off what it can...until the day of reckoning on that massive debt......this ain't no damn fairy tale boys...but ya'll do what you want....I'm gonna be fine, railroads are hiring here, and I can do some new equipment moves for a friend of mine, I promise you I ain't scared, but I don't think they are either...just sayin....I hate to see the day of reckoning come for YRC, but I'm on the other team now...may soon become a free agent :cool:
     
  3. 100 miles drom home

    100 miles drom home Banned

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    Senior ABF management would welcome a YRC buy-out. They are the major stockholders. How many shares of ABF stock has Ms McReynolds purchased lately? Shareholders would be paid a premium of up to $5.00 a share over what the stock price is and they bought it for a lot less then it is now. And they own tens of thousands of shares. McReynolds and Young will retire multimillionaires. Why would you not want to be a YRC share holder? It surpassed the ABF stock price by about $4.00.

    Getting back to how YRC will manage ABF. Think about it. ABF will be three quarters of the size they are now but more profitable. There will be no dovetailing into the YRC system just ABF since there will be no merge. It will be a family thing. ABF joining the YRC family. It's all about the families
     
  4. TurnCoat

    TurnCoat Member

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    They will be a little dovetailing, very precious little, ABF will have NO CONTRACT! You will work under BUYER"S contract and NETWORK.....how long you been in the Union son?
     
  5. truxforever

    truxforever Banned

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    Ther will be no ABC the buyout was for the whole thing ABF, Panther, Alberts and the other companies at $18.00 a share. ABC Crop would be no more. The Union would loose millions in dues due to less members. ABC made over 2 billion, now they are going to sell for 461 millions. ABC is worth more as a on going Corporation to the shareholders. All of top management would be looking for jobs just like us.

    Less-than-truckload (LTL) carrier YRC Worldwide Inc. said today it had made a preliminary proposal to acquire Arkansas Best Corp., a deal that ostensibly would include its unionized LTL division, ABF Freight System Inc.; its nonunion expedited transportation business; its truck brokerage operations; and other units. There would be no ABC left, YRCW would get it all not just ABF.

    YRC confirms bid to buy Arkansas Best | Teamsters for a Democratic Union
     
  6. truxforever

    truxforever Banned

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    A Billion dollars in the bank where are you coming up with this stuff please post a link. You couldn't have gotten all of this from that report. They are worth about 461 million market value. ABC would be gone not a small debt free Corp and for sure not with a billion dollars in the bank. The money would go to the shareholders for the stock they own. I am not saying a sale could not happen, it could happen but everyone has to vote for what is best for them in this contract. Everyone sees thing different, just get the facts think for yourself read everything and vote what you feel is right. But please just don't take the word of the company, now you can find anything on the web you just have to look.
     
    Last edited by a moderator: May 25, 2013
  7. 100 miles drom home

    100 miles drom home Banned

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    Okay so if that happens YRC scores a home run. My point was there will still be boo coo job loss at ABF but they can't dove tail into YRC because there will be no merge. ABF will run as a separate company aka New Penn/Holland
     
  8. truxforever

    truxforever Banned

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    If YRC wanted to buy them why wait for ABF to get a contract for the ABF Teamsters and a higher price tag in the end.
     
  9. TurnCoat

    TurnCoat Member

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    ABF doesn't have a contract, we are on an extension. If you don't get a contract, you are a free agent, and you will work on the terms of your buyer's contract! YRCW is going to sell the other assets, to a newly formed corporation, it may not be called ABC, but a new corporation will form that will buy back the non-union stuff, thus YRCW within 90 days will have the greatest portion of the loan returned. If we get a contract and the stock price stabilizes it should prevent this from being a good deal for YRCW. Was that a statement, or were you really wanting a logical answer?
     
    Last edited by a moderator: May 25, 2013
  10. Seamus20

    Seamus20 Active Member

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    Let's remember that YRC is continuing to LOSE money & are in very deep DEBT & are still Downsizing with no collateral & ANOTHER HUGE DEBT PAYMENT DUE THIS YEAR. You can say you want to buy a Ferrari, You can talk to the dealer,you can even test drive it, but If your in deep debt,bad credit & a huge mortage due let me know how the bank replies to your loan request. Any one can say they want to buy something but being truly able to do it is a totally different thing or else I'd have the 2nd house on the cape or own the sox
     
  11. truxforever

    truxforever Banned

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  12. TurnCoat

    TurnCoat Member

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    If they bought us now, a whole bunch of you NO voters would be changing your tune when the ballots hit the old mailbox.....I will agree, right now ABF is worth more as an ongoing concern....but a prolonged labor dispute...and that worth can change rather quickly in one or two days of trading....right now Judy has run that dog back under the porch, all it will take is a whistle and a "Here boy....sickum!" We gonna be bit on the A$$....
     
  13. truxforever

    truxforever Banned

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    Hey I have an idea lets give them the 7% right now. We can than buy YRCW will a market cap of about 161 million dollars. ABF can shut it down sell off all the terminals, trucks and trailers of YRC National use it to pay down 1.4 billion dollars of debt. We can keep New Penn and Holland plus the good freight from YRC national let go of all the junk freight. Abf could take New Penn and Holland merge them into our RPM network and control the regional market in a dream world. If this contract leaves us as the highest paid in the industry like they claim. ABF will still have the highest cost stucture what changed.
     
  14. 100 miles drom home

    100 miles drom home Banned

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    You would call for the extermination of 20,000 teamster jobs that took the cuts so that you would still remain the highest paid in the industry? Say it isn't so teamster brother
     
  15. TurnCoat

    TurnCoat Member

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    You are correct, my 9th grade math was a about $500 million off, the debt would need to be cleared up from the remaining assets, but it would look something like this.
    They say the companies assets are worth about 1.5B, if the share holders could be made whole for less than 500 million, where do you think the other billion is gonna go...up in smoke? YRC is going to SELL that stuff back to someone, except for the new tractors they want to keep and re-brand....they're in downsizing mode, they don't need all the other stuff, or many of the freaking drivers, actually NONE of them, though a few may get to go. They borrow $500 million, get the stuff they want, eliminate a competitor, and SELL the rest OFF for $500 Million, about 50 cents on the dollar of it's market value, they have paid off that debt, and a new non-union company is formed, for 50 cents on the dollar, that could easily lease or borrow the money for some new trucks, but YOUR crooked Union leaders would be gone, so in my view if our stock goes back down to around $10 and they pay the stockholders, $18, and ABF can re-open under a new name non-union in about 3 months, ya think some of them same stockholders might want to ride the same train if they can get it an IPO at 50 cents on the dollar....You folks better wake up and smell the coffee....Now that's all I'm going to say on the matter....I've stopped the email notifications, it really doesn't matter to me what happens....I'm gonna close my browser and wait for a ballot, my wife has told me that we're gonna be fine whatever happens, but if I don't get off this computer I'm going to have real problems at home :ranting2: :hide:.....Ya'll be safe out there, see ya on the other side of the vote! :cool:
     
  16. truxforever

    truxforever Banned

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