Yellow | Yrcw......6/15/2009

[Kennesaw Kid]

I did not write this.....just reporting it......KK


UPDATE 1-YRC may go bankrupt, other cos to gain: Morgan Keegan | Stocks | Reuters

 

[imported_usfwife]

More doom and gloom from another analyst. "They are viable today, but not so sure about the near future?????"

 

[riffraff]

More doom and gloom from another analyst. "They are viable today, but not so sure about the near future?????"

If its more doom and gloom ....at what point do you accept it??

 

[rv833]

I have very little doubt that THEY WILL file for bankruptcy. I am speaking of chapter 11

It's a win-win for YRC !! They get temporary relief from the creditors, and can open the union contracts. -- I truly believe, that by this time next year, we (those lucky enough to be working) will be making the same wages and benefits as the non-union companies. -- Yrc will be able to break away from the mulit-employer pension.-- If not do away with it totally. -- Again - at the expense of the union employee.
ABF and the other union freight companies are all for it for sure!

Another way to think of it is that YRC will be able to regulate trucking again. They will be able to price match anyone.

 

[riffraff]

I have very little doubt that THEY WILL file for bankruptcy. I am speaking of chapter 11

It's a win-win for YRC !! They get temporary relief from the creditors, and can open the union contracts. -- I truly believe, that by this time next year, we (those lucky enough to be working) will be making the same wages and benefits as the non-union companies. -- Yrc will be able to break away from the mulit-employer pension.-- If not do away with it totally. -- Again - at the expense of the union employee.
ABF and the other union freight companies are all for it for sure!

Another way to think of it is that YRC will be able to regulate trucking again. They will be able to price match anyone.

Thats one hellofa theory!! So what do they tell the customers they lost...I know.."if we cant pay our bills we cant pay for your freight we lost or damaged and as for being on time ..well... were out of fuel cause we lost our credit to all of our vendors so youll just have to wait...I like your theory though.

 

[Stimpy]

The way I see it the nons are making more than us now... wage wise... not benefit wise though.

 

[lucky7]

I believe about 6 mnths ago it was posted that due to the wage cut deal and dept covenants in the loan packages,that chapter 11 was not an option.If Yrcw was to declare bankruptcy it would go straight to chapter7 liquidation of all assets.Please correct me if I am wrong.

 

[riffraff]

The way I see it the nons are making more than us now... wage wise... not benefit wise though.

really? How much has been put in your pension in the last 3mos, cause my pension account has gotten the big goose egg so I think they got me beat right about now,,god I hate saying that!!!!!

 

[drag racer]

Big hoilday weekend coming up in a few weeks.:TR10driving03::TR10driving03:?????????? this company may have bled to death.

 

[kitkat36]

wages

If you think that the non union employees are making more than you think again. I've seen anywhere from 28 cents a mile to 40 if you are lucky. Some of them are paying more than $100 per week for their insurance. All you have to do is get on a few non union trucking companies websites and check out their pay.

 

[electraglideatl]

I believe about 6 mnths ago it was posted that due to the wage cut deal and dept covenants in the loan packages,that chapter 11 was not an option.If Yrcw was to declare bankruptcy it would go straight to chapter7 liquidation of all assets.Please correct me if I am wrong.

You are absolutely correct.......that is what CF did and we are no different........CHAPTER 7............so you guys with 40 years you better head to the penion gates or you will be too late...:TR10driving03::TR10driving03:

 

[cracker]

thats truckload cos. not ltl

 

[rv833]

I believe about 6 mnths ago it was posted that due to the wage cut deal and dept covenants in the loan packages,that chapter 11 was not an option.If Yrcw was to declare bankruptcy it would go straight to chapter7 liquidation of all assets.Please correct me if I am wrong.

How many times have the covenants ben changed ?

They creditors will charge them millions AGAIN to change the covenants, and Teamsters will do what ever it takes to keep the dues coming in.

Like it was said in another thread - $16 hr is better than $0 hr. -- But then again, I don't think we will be given a choice.

 

[Teamcujo]

I believe about 6 mnths ago it was posted that due to the wage cut deal and dept covenants in the loan packages,that chapter 11 was not an option.If Yrcw was to declare bankruptcy it would go straight to chapter7 liquidation of all assets.Please correct me if I am wrong.

Has any trucking company ever operated after bankruptcy?

 

[rv833]

I also think that giveback had a clause to the effect of ----

If YRC claims bankruptcy or sells any of the units covered by the deal,- all wages would be reset to what the current contract called for.
I don't see that happening either.


I am fairly sure of this But not 100%

 

[Vwaggs]

Has any trucking company ever operated after bankruptcy?

Yellow did successfully until it got a new management team and their strategy became to build the biggest trucking company in the world to justify and inflate their incomes.

 

[deadbeat]

Sounds like CFWY's , FREIGHT FLOW 2000, program.

 

[roadking]

yellow filed bankruptcy once before and came out of it even larger just check out their history.

 

[Stimpy]

really? How much has been put in your pension in the last 3mos, cause my pension account has gotten the big goose egg so I think they got me beat right about now,,god I hate saying that!!!!!

It has been six---( 6 )--- months since I have had any payments into my pension. And I haven't had any health insurance for six months either. I bet that you have health insurance that doesn't cost you anything. That is if you are still working. I am lucky that the state is providing some health insurance for my daughter. The cobra insurance is way too expensive when you are on unemployment. I am not mad or picking on you... it just stinks out there... jobs are not out there like they use to be.:smilie_132:

 

[doin life]

I was under the impression the ABF also filed bankruptcy in the past....is this true????