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Yellow | YRCW Employees Are Waiting For An Official Response From CEO James Welch!

Freightmaster1

Freightmaster1

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Isn't it time for James Welch to personally respond to the employees at YRC Freight, Holland, New Penn, Reddaway, and Reimer about the shenanigans involving ABFS this past week? Judy McReynolds and Roy Slagle responded to the news to their ABF Freight employees, so why not Welch? Maybe Mr. Welch could tell the YRCW Teamster employees whether the two Teamster appointed YRCW Board members Mr. Carty, and Mr. Wilson, were made aware of the potential acquisition of ABFS? Our esteemed Teamster President Jim Hoffa said he just found out about it when he learned of the magazine story?

Mr. Welch has a lot of explaining to do to his Teamster employees!

We're waiting Mr. Welch!

:busted:
 
he must be waiting for a new spin dr. to hook him up with a response
not that he would lie or anything like that .
 
I could write a response for him, it would go something like this.

Had you fooled didn't I? That's right, I'm no different than Zollars. Oh, and about that concession stuff, get used to it.
 
Why? There is nothing in the contract or the MOU that restricts the company from having any merger or buy out talks, in fact if the deal spins over time as most do and ABF ends up as the purchaser that may mean working under their contract...................................
 
Forgive me but everything I have read talks about purchase of a NON-UNION....would somebody please show me where it addresses the scenario of buying a UNION Carrier. Thanks. :confused:
 
Freightmaster1 said:
Isn't it time for James Welch to personally respond to the employees at YRC Freight, Holland, New Penn, Reddaway, and Reimer about the shenanigans involving ABFS this past week? Judy McReynolds and Roy Slagle responded to the news to their ABF Freight employees, so why not Welch? Maybe Mr. Welch could tell the YRCW Teamster employees whether the two Teamster appointed YRCW Board members Mr. Carty, and Mr. Wilson, were made aware of the potential acquisition of ABFS? Our esteemed Teamster President Jim Hoffa said he just found out about it when he learned of the magazine story?

Mr. Welch has a lot of explaining to do to his Teamster employees!

We're waiting Mr. Welch!

:busted:
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He is waiting for Hoffa to return his call,they need to be on the same page!!
 
wolf said:
Forgive me but everything I have read talks about purchase of a NON-UNION....would somebody please show me where it addresses the scenario of buying a UNION Carrier. Thanks. :confused:
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You need no forgivness your observation is correct. And there is not a thing that the Teamsters can do to stop it. Also there won't be any snap back either. YRCW doesn't have the money to buy ABF OR pay full scale. Investors would loan money for the purchase of ABF. But you can be secure in the certainty that there will be NO LOANS TO PAY FULL SCALE.
You guys crack me up. WTF "if they have money to buy ABF then they have money to pay full scale" that is too funny! YRCW has NO MONEY for any purchases, it will be with borrowed money.
 
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albag said:
You need no forgivness your observation is correct. And there is not a thing that the Teamsters can do to stop it. Also there won't be any snap back either. YRCW doesn't have the money to buy ABF OR pay full scale. Investors would loan money for the purchase of ABF. But you can be secure in the certainty that there will be NO LOANS TO PAY FULL SCALE.
You guys crack me up. WTF "if they have money to buy ABF then they have money to pay full scale" that is too funny! YRCW has NO MONEY for any purchases, it will be with borrowed money.
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Dang it Albag.....I was hoping somebody would tell me I was to stupid to see the Big Picture, NOT tell me what I'm already thinking. :nut_kick:
 
My understanding from all of the news reports I have read it is that YRC had an outside investor lined up to finance this. Kinda scary that YRC is credit worthy with it's balance sheet. I believe that Welch was only interested in the main ABF division, the other things that Arkansas Best Corp (the parent holding company) owns like Panther Expedited would of been sold off I believe to lower the cost of this acquisition, as well as sell off numerous terminal properties. There would of also been some cost savings in being able to avoid purchasing new tractors and trailers for YRC, as ABF's fleet is much newer and would of been integrated with older YRC equipment being written off. This acquisition was much more do-able when ABF stock was much lower last month and before ABF had an agreement (that hasn't been voted on yet) with the IBT.
 
rocketmancve said:
My understanding from all of the news reports I have read it is that YRC had an outside investor lined up to finance this. Kinda scary that YRC is credit worthy with it's balance sheet. I believe that Welch was only interested in the main ABF division, the other things that Arkansas Best Corp (the parent holding company) owns like Panther Expedited would of been sold off I believe to lower the cost of this acquisition, as well as sell off numerous terminal properties. There would of also been some cost savings in being able to avoid purchasing new tractors and trailers for YRC, as ABF's fleet is much newer and would of been integrated with older YRC equipment being written off. This acquisition was much more do-able when ABF stock was much lower last month and before ABF had an agreement (that hasn't been voted on yet) with the IBT.
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"My understanding from all of the news reports I have read it is that YRC had an outside investor lined up to finance this" ....I love it when a member of TB READS everything and see the facts as they are...It says we, as a forum, will still live on. You nailed it with your post....THANK YOU!.....KK
 
They also said in an article here they were going to offer 18 dolars a share. Or am I confusing it with a finance article on tje subject
 
pilot108 said:
They also said in an article here they were going to offer 18 dolars a share. Or am I confusing it with a finance article on tje subject
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Offer was for $18 per share. ABF book value is about $18 per share. Any Gordon Gecko could buy ABF, close it down, sell the assets and make money. I suspect if this was doable some Gordon Gecko would have given it a shot already, or has the wheels silently in motion as we type.
 
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