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Yellow | YRCW will ask NASDAQ for an exception

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John/nyc

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This is from the 10Q (quarterly report) filed with the SEC.

http://secfilings.nasdaq.com/filing...;FormType=10-Q&RcvdDate=8/9/2010&pdf=

Our board of directors continues to evaluate the timing of a reverse stock split, and at this time, has not finalized a date. Assuming the closing price of our common stock price is not above $1.00 for ten consecutive business days by August 30, 2010, we expect to receive a delisting notice from NASDAQ. If we receive a delisting notice from NASDAQ, we would intend to request a hearing with NASDAQ to present a plan of compliance. The request for a hearing will stay the delisting of our common stock. We expect that a hearing would be scheduled 30 to 45 days after NASDAQ receives our request for a hearing. Although there is no assurance the exception would be granted which would extend the period to regain compliance with the NASDAQ marketplace rules, we believe its continued progress with all of its stakeholders would provide a solid basis for the exception.
 
how many people, banks and institutions does yrc expect to "bend" for them. they are just one more company on nasdaq. why should anyone/thing make exceptions for them? they just keep coming back and asking for more. i don't get it.
 
[quote author=druid09 link=topic=82907.msg857066#msg857066 date=1281439769]
how many people, banks and institutions does yrc expect to "bend" for them. they are just one more company on nasdaq. why should anyone/thing make exceptions for them? they just keep coming back and asking for more. i don't get it.
[/quote]

All those people, banks and institutions are stakeholders in YRC. If YRC fails those stakeholders lose, but if YRC succeeds then so do the stakeholders.
 
Well, looks like they got the tin cup out again. This is just a stalling tactic and what purpose it serves I have no idea. The possibility of the stock going back up to a dollar is 0 (ZERO) with the gazillion shares they tossed around like confetti. Why delay the inevitable. Why leave the uncertainty of an impending reverse split. To what purpose.
 
[quote author=DanSullivan link=topic=82907.msg857082#msg857082 date=1281444204]
Well, looks like they got the tin cup out again. This is just a stalling tactic and what purpose it serves I have no idea. The possibility of the stock going back up to a dollar is 0 (ZERO) with the gazillion shares they tossed around like confetti. Why delay the inevitable. Why leave the uncertainty of an impending reverse split. To what purpose.
[/quote]The purpose? Some how to get the employee options out of the equation is my guess. The minute these things go over $1 there is a risk of them getting cashed in. :popcorn:
 
you can see they are doing the same thing a satalite radio co did. This is nothing new,it would be nice to know when the reverse split was to take place though. :fart:
 
YRCW has had all of this time to make a move.....and they didn't. So why would/should NASDAQ give them one extra minute? I know that I wouldn't.
 
[quote author=Northern Flash link=topic=82907.msg857370#msg857370 date=1281491433]
YRCW has had all of this time to make a move.....and they didn't. So why would/should NASDAQ give them one extra minute? I know that I wouldn't.
[/quote]

I think NASDAQ will give them the extension because they're a high volume stock.

I also think that YRC will say, "We are in negotiations with our creditors and our employee's union and if those negotiations are successful our share price may improve enough to come into compliance."
 
[quote author=john/nyc link=topic=82907.msg857397#msg857397 date=1281496446]
I think NASDAQ will give them the extension because they're a high volume stock.

I also think that YRC will say, "We are in negotiations with our creditors and our employee's union and if those negotiations are successful our share price may improve enough to come into compliance."[/quote]And there is always that chance that hell could freeze over also.
 
[quote author=Northern Flash link=topic=82907.msg857433#msg857433 date=1281526839]
And there is always that chance that hell could freeze over also.
[/quote]

I'm not saying it will happen, I'm just saying that's what YRC will say to NASDAQ to try to get the exception.
 
Boo hoo hoo, we need a nasdaq extension. Boo hoo hoo, we need another pension deferral. Boo hoo hoo, need another paycut. Boo hoo hoo, we need a health benefit reduction. Boo hoo hoo, we need the banks to give us interest deferral again, and again and again. Boo hoo hoo, we need the bond holders to take it in the shorts or we'll take our toys and go home. Whats next, a trip down to the local dept. of social services for a welfare check and food stamps! This old song and dance is getting as old as fubo's that he pulled the economy back from the brink. The only reason this first class freight company needs an extension is so they can ram it in deeper before the bk.
 
[quote author=TurboJ link=topic=82907.msg857669#msg857669 date=1281568532]
Boo hoo hoo, we need a nasdaq extension. Boo hoo hoo, we need another pension deferral. Boo hoo hoo, need another paycut. Boo hoo hoo, we need a health benefit reduction. Boo hoo hoo, we need the banks to give us interest deferral again, and again and again. Boo hoo hoo, we need the bond holders to take it in the shorts or we'll take our toys and go home. Whats next, a trip down to the local dept. of social services for a welfare check and food stamps! This old song and dance is getting as old as fubo's that he pulled the economy back from the brink. The only reason this first class freight company needs an extension is so they can ram it in deeper before the bk.
[/quote]
What he said!
 
enough is enough already. Yrc needs to quit focusing on the stock exchange and put their energy into aquiring and moving more frieght. Is there anyone at Yrc management level that knows how to do that?
 
I'm just wondering here...if they reverse split the stock and raised the value above the so called "strike price" that was established when we were given shares as part of the givebacks, couldn't we cash those in (even though there would be less shares because of the reverse split) and the company would have to raise the cash to pay for that since they don't have any cash (so they say)? They could then blame us Teamster employees for sending them in bankruptcy!
 
[quote author=RocketManCVE link=topic=82907.msg858313#msg858313 date=1281709221]
I'm just wondering here...if they reverse split the stock and raised the value above the so called "strike price" that was established when we were given shares as part of the givebacks, couldn't we cash those in (even though there would be less shares because of the reverse split) and the company would have to raise the cash to pay for that since they don't have any cash (so they say)? They could then blame us Teamster employees for sending them in bankruptcy!
[/quote]The money was supposedly put off to the side to pay for it already I thought. Seemed it was one of the "charges" taken in one of the quarterly reports. Also I'm assuming in the reverse split the strike price will change accordingly. Basically the options will still be worthless right after the reverse split.
 
I thought we would just have less shares to cash in.....but I'm sure if there's some way to screw us out of that money, $$$Bill has already taken care of that, too.
 
This and this alone is the reason the " stock split " hasn't taken place yet .
Holder Shares % Out Value* Reported
BANK OF AMERICA CORPORATION 89,481,802 8.48 $48,320,173 Mar 31, 2010
JP MORGAN CHASE & COMPANY 49,030,425 4.65 $26,476,429 Mar 31, 2010
DEUTSCHE BANK AKTIENGESELLSCHAFT 42,788,906 4.06 $23,106,009 Mar 31, 2010
Alden Global Capital, a division of Smith Management, LLC 36,887,550 3.50 $19,919,277 Mar 31, 2010
SILVERBACK ASSET MANAGEMENT, LLC 36,399,999 3.45 $19,655,999 Mar 31, 2010
APPALOOSA MANAGEMENT L.P. 29,630,917 2.81 $16,000,695 Mar 31, 2010
PRIVATE MANAGEMENT GROUP, INC. 26,459,412 2.51 $14,288,082 Mar 31, 2010
BARCLAYS PLC 25,217,303 2.39 $13,617,343 Mar 31, 2010
BlackRock Fund Advisors 23,911,382 2.27 $12,912,146 Mar 31, 2010
Credit Suisse/ 119,867,473 11.36 $64,728,435 Mar 31, 2010

So let's say the split goes 5 for 1 new share all of these HOLDERS will lose millions of dollars because of this ! At 29 cents ( today's price ) and after the split the stock only goes to 1 dollar that means the Large shareholders would lose 45 cents on ever dollar 5 X .29 = $ 1.45 for ever new YRCW share worth $1.00 .
 
I am just a road driver but I believe @ 5 for 1 they get 1 share for each 5 lowering the available shares on the market. Price goes up accordingly at 30cents shares worth $1.50. Hopeing maybe shorts find some where else to play!
 
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