What's new

Yellow | YRCW To Cut $100M In Job Costs

Stan Smith said:
BINGO!!! Sort of like CF. You know these high rollers have friends in OTHER high places (other companies) and they can get filthy rich while running this purposely into the ground....:hide:
Click to expand...

Its a delicate business though. Run the stock to low and all of the sudden, the uninterested become very interested. It does seem that corporate crime is on the rise or too many people are starting to take notice. :nutkick:
 
Does anyone remember the promise that YRC made to the Union about not cutting jobs for five years? Ya had to see this coming.
 
UnionTrucka said:
can anyone be clear on who exactly is losing money ? i understand that all carriers, union or not, are slow right about now but is there anyone out there who can pin point who's fu*king up in the Regional dept. ?
Click to expand...
New Penn never did bad. Even after Big R bought them. Zollors had to do an end around on the share holders to by Usf. My understanding was Usf isn't the pollished pig that everone was led to believe. So in my opinion I would think Usf is the culprit :hide: Then again it could be mis-mangement by Yellow Corp.
 
I don't know about the rest of USF but Holland was a well run operation and they made lots of money. They used to operate in the 80's all the time. You'd think that the people running YRC would have left them pretty much alone to continue like that. I know that I would have. Why fix it if it isn't broken, right? But they put a bunch of Roadway and ex-CF Mgmt. in charge of them. Now they operate at 100 or 101 and the employees are getting to the point where they don't care anymore. Brilliant move YRC.
 
Stl a question that I really don't know the answer to. Did Hollands numbers look so good because they were using Red Star profits or Dugan to make it look good. I've seen this with Roadway and RPS (roadway services) and posibly Cf vs CCX did the same thing. Honest question that I've been wondering about.:smilie_132:
 
UnionTrucka said:
can anyone be clear on who exactly is losing money ? i understand that all carriers, union or not, are slow right about now but is there anyone out there who can pin point who's fu*king up in the Regional dept. ?
Click to expand...

New Penn is doing great.

USF Dugan was closed and the territory was moved mostly to USF Bestway. Bestway was weak to begin with, and the Dugan territory made it worse. Bestway was broken up into Holland and Reddaway. Once again, Holland and Reddaway are having a difficult time making it profitable.

Reddaway has a long history of running well. Holland was run well 10 years ago, but USF (prior to YRC purchase) put some ex-CF guys in charge. They tried to run it like a long haul carrier, and things went south. Late last year and all of this year, the weak economy hammered Holland. Holland is/was highly dependent on the US auto market.

My understanding is that both Reddaway and Holland are on the mend, but this will take time.

Other questions in this thread:
Meridian IQ = YRC Logistics
YRC National Transportation = Roadway + Yellow + Reimer
YRC Regional Transportation = USF Reddaway + USF Holland + USF Glen Moore + New Penn
YRC North American Transportation (new thing just announced) = Roadway + Yellow + Reimer + USF Reddaway + USF Holland + USF Glen Moore + New Penn
 
UnionTrucka said:
can anyone be clear on who exactly is losing money ? i understand that all carriers, union or not, are slow right about now but is there anyone out there who can pin point who's fu*king up in the Regional dept. ?
Click to expand...

New Penn is doing great.

USF Dugan was closed and the territory was moved mostly to USF Bestway. Bestway was weak to begin with, and the Dugan territory made it worse. Bestway was broken up into Holland and Reddaway. Once again, Holland and Reddaway are having a difficult time making it profitable.

Reddaway has a long history of running well. Holland was run well 10 years ago, but USF (prior to YRC purchase) put some ex-CF guys in charge. They tried to run it like a long haul carrier, and things went south. Late last year and all of this year, the weak economy hammered Holland. Holland is/was highly dependent on the US auto market.

My understanding is that both Reddaway and Holland are on the mend, but this will take time.

Other questions in this thread:
Meridian IQ = YRC Logistics
YRC National Transportation = Roadway + Yellow + Reimer
YRC Regional Transportation = USF Reddaway + USF Holland + USF Glen Moore + New Penn
YRC North American Transportation (new thing just announced) = Roadway + Yellow + Reimer + USF Reddaway + USF Holland + USF Glen Moore + New Penn

CorpOffice
 
If you look at the numbers just released,
YRC Worldwide- News Release
you will see YRC National, (Yellow, Roadway, & Reimer) is operating at a 94.7, not bad for the way the economy is. YRC Regional is at 100.2. No wonder with the closing of USF Bestway and all the changes in their operation. But look out for the cuts coming. :hide:
 
wolf said:
Stl a question that I really don't know the answer to. Did Hollands numbers look so good because they were using Red Star profits or Dugan to make it look good. I've seen this with Roadway and RPS (roadway services) and posibly Cf vs CCX did the same thing. Honest question that I've been wondering about.:smilie_132:
Click to expand...
I'm not sure how USF could have made Holland look good with a subsidiary's profits. Somebody might have to fill me in on that possibility. Maybe it's true. Holland was doing great well before the Red Star fiasco and back when Dugan was just a small player as I remember it.
 
stldude44 said:
I'm not sure how USF could have made Holland look good with a subsidiary's profits. Somebody might have to fill me in on that possibility. Maybe it's true. Holland was doing great well before the Red Star fiasco and back when Dugan was just a small player as I remember it.
Click to expand...
Thats the point I was trying to make. Without the other divisions to prop it up, maybe Hollands true numbers are coming out. :hide: Conspiracies run rampent in my world.:hysterical: Man did I get off topic with this one SORRY
 
Traveler said:
Was also wondering what co. That YRC owns is considered YRC National? This is the first time I've even heard the name YRC national. Does anyone know what co. they are or used to be?
Click to expand...

YRC National: Yellow and RoadWay

YRC Regional: USF Co's, and New Penn
 
wolf said:
Thats the point I was trying to make. Without the other divisions to prop it up, maybe Hollands true numbers are coming out. :hide: Conspiracies run rampent in my world.:hysterical: Man did I get off topic with this one SORRY
Click to expand...
No problem....in time many threads get off the topic. I could be wrong but it looks to me like YRC is mismanaging the Regional Division.......it's really something they know nothing about. Yellow and Roadway aren't geared up as short haul movers like Holland and New Penn are. It's been almost 5 years since they had to have PSE and they've pretty much failed at that.
 
stldude44 said:
No problem....in time many threads get off the topic. I could be wrong but it looks to me like YRC is mismanaging the Regional Division.......it's really something they know nothing about. Yellow and Roadway aren't geared up as short haul movers like Holland and New Penn are. It's been almost 5 years since they had to have PSE and they've pretty much failed at that.
Click to expand...


stldude44 :1036316054:

YRC Regional is lucky to have Keith Lovetro take over for Jim Staley.
Lovetro was the former CEO of FedEx Freight West, and if he can't get that operation turned around then there are deeper problems, and no fix will help.

:smilie_132:
 
River17 said:
stldude44

YRC Regional is lucky to have Keith Lovetro take over for Jim Staley.
Lovetro was the former CEO of FedEx Freight West, and if he can't get that operation turned around then there are deeper problems, and no fix will help.
Click to expand...
Is he also an ex CF man? It seems that I recall somebody (not here) saying that an ex CF man was running or getting ready to run Regional.
 
DHL Announces Appointment of Keith Lovetro as Executive Vice President of Marketing
Business Wire- 12/4/2006 9:41:00 AM EST


( BW)(FL-DHL)(.) DHL Announces Appointment of Keith Lovetro as Executive Vice President of Marketing
DHL Express today announced the appointment of Keith E. Lovetro, as Executive Vice President of Marketing for its U.S. operation. In his new role, Lovetro will be responsible for the company’s key marketing functions. Lovetro reports to Hans Hickler, Chief Executive Officer, DHL Express USA, and is a member of the Express U.S. Management Board.

“Keith is a seasoned industry veteran with the skills and in-depth knowledge of our industry that will be critical as we build on the momentum DHL Express has accomplished in the U.S.,” Hickler said. “Keith brings a strong track record of accomplishment to his new position and deep experience in development of sound go-to-market strategies that will serve us well in 2007 and beyond.”

Lovetro began working in the transportation industry in 1980 for C.F. Airfreight. He gained additional experience working at Emery Worldwide, Amdahl Computers and most recently spent 12 years in various positions of increasing responsibility at FedEx Freight West. Lovetro was most recently President and Chief Executive Officer of FedEx Freight West, based in San Jose, Calif. He received a Master of Business Administration degree from Santa Clara University and a Bachelor of Arts degree from the University of California at Davis.
 
stldude44 said:
Is he also an ex CF man? It seems that I recall somebody (not here) saying that an ex CF man was running or getting ready to run Regional.
Click to expand...

stldude44 :1036316054:

Yes he is an ex CF guy. But he worked at CF Air before they bought Emery Worldwide.
Lovetro was a marketing executive and probably had very little if any major assignments back when CF started to go south.
After leaving CF Air he joined the Roadway Regional Group which got Viking Freight to go nationwide when they combined Viking, Spartan, Coles and Central Freight back in 1996.
That nationwide operation had to shut down quickly because they probably had the same issues that is giving USF (YRC Regional) headaches integrating the different operations of Reddaway and Holland and the shutting down of Bestway.


:smilie_132:
 
Mr. L was hired to do what Mr. S couldn't do...combine what's left of the old USF Corp operating companies and make them profitable. Red Star was already gone when YRC bought them, then YRC had Mr. S. shut down Dugan, and fold Bestway into Reddway! It was more than even he, with 37 years experience could pull off! USF Holland was making money pulling the same next day lanes as Yellow Transportation until the auto industry freight started to tank, and the the housing market tanked, and now there isn't enought freight to go around. Now Yellow Transportation runs their next day lanes half empty, Holland is half empty, and the costs continue to skyrocket! Remember Dollar Bill has promised $100 million in savings over the next 6 months to investors. To pull this off, he's gonna have Mr. L do some serious head chopping. He will have Mr. S. do the same thing over at YRC North American too! It's gonna be a long winter!
 
stldude44 said:
I'm not sure how USF could have made Holland look good with a subsidiary's profits. Somebody might have to fill me in on that possibility. Maybe it's true. Holland was doing great well before the Red Star fiasco and back when Dugan was just a small player as I remember it.
Click to expand...

It was actually very simple to do guys and we saw it every single day.

First you had unfair splits. Eveyone knows it costs more to deliver freight as opposed to picking freight up. The splits are based soley on mileage, so lets say you have a shipment that generates $100 and it travels 100 miles.
It travels 75 miles from the pick up carrier and only 25 miles by the delivering carrier. The p/u carrier gets $75 and the delivering carrier gets $25.


Now since the northeast is much smaller area wise than the mid west most splits ended in HMES' favor. There is much more but I have to run
 
You must log in or register to reply here.
Top