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Holland | YRCW Further Enhances Financial Position

"We are pleased that we finalized another significant component of our liquidity initiatives," stated Wicks. "It is common practice in our industry to lease facilities from other industry providers, and in fact, we presently lease other facilities from Estes and they lease from us. This is a continuation of that relationship. We continue to have additional opportunities in this area with other investors and recent improvements in this particular market have made them even more attractive."
The company's operating subsidiaries have previously entered into leases with Estes, as both landlord and tenant, and real estate sales contracts for the sale of excess properties. In addition, YRC Logistics uses Estes as a transportation service provider for its clients in the ordinary course of business.
 
TF our OR is what ever YRC wants to say it is. Holland has to "give" YRC between $800,00.00 to $1,000,000.00 per week, so if you figured that amount of money in to the Holland/YRC Regional OR, I'd say it would make quite a difference. I'm sure NP and Reddaway are also getting their arms twisted a little too.
 
Benny Hill said:
TF our OR is what ever YRC wants to say it is. Holland has to "give" YRC between $800,00.00 to $1,000,000.00 per week, so if you figured that amount of money in to the Holland/YRC Regional OR, I'd say it would make quite a difference. I'm sure NP and Reddaway are also getting their arms twisted a little too.
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Might be wrong But I believe YRC is also paying the piper, which I believe to be YRCW. We (YRC) are just another carrier under the YRCW umbrella. We YRC just happen to have the 1st (3) letters of the Corporation, but we don't have the "W". Man this "W" has been a real problem these past 8 years. NO it can't be, must be a coincidence.:duh:
 
newpenn pays 3.2 or 3.5 % right off the P&L (profit loss statement) then yrcw takes all the profits and gives back to newpenn what they want to for newpenn to operate!!!! its BS..
 
Every time we have asked the question about paying YRCW a million a week of superiors from the head of HR when he was touring to our regional VP now TM, to the president of Holland (yep he stopped in too and actually talked to the guys without any other superiors present ) they all said "I don't know the exact figure but that's probably about right".
To me that kills an OR. But they can take what they want, they own the company, they can do what they want with it. At least for now.
 
usmc2k1 said:
i would like to see some documentation that we pay YRC that much. Thats hard to believe...
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Ask your own TM for yourself, I'm sure you'll believe him. When you've been around here a little longer maybe you'll learn who knows what they're talking about and who doesn't for yourself.
 
Boilerpeddle said:
Every time we have asked the question about paying YRCW a million a week of superiors from the head of HR when he was touring to our regional VP now TM, to the president of Holland (yep he stopped in too and actually talked to the guys without any other superiors present ) they all said "I don't know the exact figure but that's probably about right".
To me that kills an OR. But they can take what they want, they own the company, they can do what they want with it. At least for now.
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That was my point exactly BP, it doesn't matter what YRC says the OR is, they can make it anything they want it to be, anytime they want.
 
newpenn107 said:
newpenn pays 3.2 or 3.5 % right off the P&L (profit loss statement) then yrcw takes all the profits and gives back to newpenn what they want to for newpenn to operate!!!! its BS..
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Thanks for the info NP107, its just not right. But like BP said, its their company and they can do as they like.
 
Just took time to read some of the SEC filings and noticed something I could not find on any other one so far.
Dated 2/20/09, it does state that property's from YRC, USF Reddaway and USF Holland have been sold under a lease-back agreement. Reading those filings is very hard on the eye, plus I don't understand much of the "legalese" wording either.
Finally, the credit agreements have YRCW borrowing from all corners of the earth, Asia, Taiwan, Japan, China, and many European countries as well. Truly a global company, at least as far as credit is concerned.
 
usmc2k1 said:
i would like to see some documentation that we pay YRC that much. That's hard to believe...
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The 800 thousand bucks per week that USF pays to YRCW is old news. When they closed down our administrative offices, to "streamline", they started the 800 thousand per week charge. It is documented, and has been verified.:1036316054:
 
basically it's to sell certain properties to estees and immediately lease them back as long as it is approved by the bank JPMC. And as you read further down the page, the credit agreement will cost more then when they first released the numbers.
 
flstc2000 said:
Just took time to read some of the SEC filings and noticed something I could not find on any other one so far.
Dated 2/20/09, it does state that property's from YRC, USF Reddaway and USF Holland have been sold under a lease-back agreement. Reading those filings is very hard on the eye, plus I don't understand much of the "legalese" wording either.
Finally, the credit agreements have YRCW borrowing from all corners of the earth, Asia, Taiwan, Japan, China, and many European countries as well. Truly a global company, at least as far as credit is concerned.
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basically it's to sell certain properties to estes and immediately lease them back as long as it is approved by the bank JPMC. And as you read further down the page, the credit agreement will cost more then when they first released the numbers.
__________________
 
Fbi

Northern Flash said:
The 800 thousand bucks per week that USF pays to YRCW is old news. When they closed down our administrative offices, to "streamline", they started the 800 thousand per week charge. It is documented, and has been verified.:1036316054:
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The FBI keeps our country secure, actually it should be more than 75M. IMO.
 
Sir Ocelot said:
The FBI keeps our country secure, actually it should be more than 75M. IMO.
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Everyone is entitled to their opinion. I am all for the proper funding of all departments. However, this is an economic stimulus package. Not a "grow the govt. package." When the country is in financial crisis, that is not the time to be spending unnecessary money. This is a time for the govt. to tighten their belt. And this pork package is a huge waste of money. These extra expenses, should be put off until we are out of this financial crisis, in my opinion. This stimulus package is advertised as "job creation". And I don't see the jobs being produced.
 
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