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Yellow | "YRCW Worthless" ...Says Credit Suisse

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imported_dejabo

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Credit Suisse analyst Christopher Ceraso this morning writes

It’s most likely YRC fails to consummate its proposed debt-for-equity swap, he believes. However, if two-thirds of the company’s secured lenders approve the exchange, and even a modest number of unsecured creditors buy in, a pre-packaged bankruptcy could be rushed through the courts. In the first scenario, YRC’s offer fails, the stock is worth at most 30 cents; in the case the swap succeeds, the stock is worth zero.
 
Where's the link to this great article you quote ? If your going to post such great news shouldn’t you back it up with a link ?
dejabo said:
Credit Suisse analyst Christopher Ceraso this morning writes

It’s most likely YRC fails to consummate its proposed debt-for-equity swap, he believes. However, if two-thirds of the company’s secured lenders approve the exchange, and even a modest number of unsecured creditors buy in, a pre-packaged bankruptcy could be rushed through the courts. In the first scenario, YRC’s offer fails, the stock is worth at most 30 cents; in the case the swap succeeds, the stock is worth zero.
Click to expand...
 
I noticed you forgot this part of the article"It is not a foregone conclusion that YRC’s assets will be liquidated if it does goes bankrupt, writes Ceraso. In fact, the company’s likely to keep its assets and keep operating right through a bankruptcy filing."
From the following LINK that you forgot to post I wonder WHY !!!!!
YRCW Worthless, Credit Suisse Says - Stocks To Watch Today - Barrons.com

dejabo said:
Credit Suisse analyst Christopher Ceraso this morning writes

It’s most likely YRC fails to consummate its proposed debt-for-equity swap, he believes. However, if two-thirds of the company’s secured lenders approve the exchange, and even a modest number of unsecured creditors buy in, a pre-packaged bankruptcy could be rushed through the courts. In the first scenario, YRC’s offer fails, the stock is worth at most 30 cents; in the case the swap succeeds, the stock is worth zero.
Click to expand...
 
WHY DID YOU LEAVE OUT THIS PART OF THE ARTICLE:Trucking group mentioned cautiously at Credit Suisse
Credit Suisse believes the market is reaching the wrong conclusion regarding YRC Worldwide (YRCW) potential bankruptcy and a liquidation. The firm believes a more likely outcome is that YRC Worldwide does a pre-packaged bankruptcy and continues to operate as normal during the process rather and could emerge from bankruptcy as quickly as 30 days. The analyst believes the sector could give back recent gains if this were to occur. :
 
Because I posted the LINK !
trucker999 said:
WHY DID YOU LEAVE OUT THIS PART OF THE ARTICLE:Trucking group mentioned cautiously at Credit Suisse
Credit Suisse believes the market is reaching the wrong conclusion regarding YRC Worldwide (YRCW) potential bankruptcy and a liquidation. The firm believes a more likely outcome is that YRC Worldwide does a pre-packaged bankruptcy and continues to operate as normal during the process rather and could emerge from bankruptcy as quickly as 30 days. The analyst believes the sector could give back recent gains if this were to occur. :
Click to expand...
 
regular342 said:
Wrong. Once we go to Bankruptcy all contracts become void and we get paid whatever the bankruptcy judge determines.
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I think the only thing fare would be if ALL the FINE FINE EX ROADWAY employees where brought up to 100% and given back there pensions, and that all the ex yellow employees have a 50% pay cut to absorbed the cost that would involve ! Plus all the ex yellow employees would have to bring coffee and donuts to all the dispatchers until such time as the GREAT GREAT ROADWAY drivers feel they desire a good run !
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Disclaimer
This is a JOKE ! and only meant for the one the only ----------- !
 
If JP Morgan finances YRC during the chapter 11 process YRC might be given more time to pay bondholders. As far as the wages non-union carriers and ABF and UPS are making more. I doubt if drivers will be asked to work for less then what they are making now. Good carriers and a good network must be worth something to somebody
 
R-14Driver said:
I think the only thing fare would be if ALL the FINE FINE EX ROADWAY employees where brought up to 100% and given back there pensions, and that all the ex yellow employees have a 50% pay cut to absorbed the cost that would involve ! Plus all the ex yellow employees would have to bring coffee and donuts to all the dispatchers until such time as the GREAT GREAT ROADWAY drivers feel they desire a good run !
______________________________________________________________________________________________
Disclaimer
This is a JOKE ! and only meant for the one the only ----------- !
Click to expand...


I'll second this. R14 :nutkick: the noodle
 
trucker999 said:
WHY DID YOU LEAVE OUT THIS PART OF THE ARTICLE:Trucking group mentioned cautiously at Credit Suisse
Credit Suisse believes the market is reaching the wrong conclusion regarding YRC Worldwide (YRCW) potential bankruptcy and a liquidation. The firm believes a more likely outcome is that YRC Worldwide does a pre-packaged bankruptcy and continues to operate as normal during the process rather and could emerge from bankruptcy as quickly as 30 days. The analyst believes the sector could give back recent gains if this were to occur. :
Click to expand...
Assuming you have a class a driver license, you're going to need it because YRC is done PERIOD!
 
I know this is overly simplistic, but last quarter YRCW paid 44M in debt service. They lost $158M in the quarter.

So even if in BK they get every last penny of their debt wiped clean they still need to shave $114M in losses. They aren't going to find that kind of scratch in the couch cushions.

The Credit Suisse analysis is interesting, but IMO, is wrong.
 
Elwood said:
I know this is overly simplistic, but last quarter YRCW paid 44M in debt service. They lost $158M in the quarter.

So even if in BK they get every last penny of their debt wiped clean they still need to shave $114M in losses. They aren't going to find that kind of scratch in the couch cushions.

The Credit Suisse analysis is interesting, but IMO, is wrong.
Click to expand...

How much of that loss was from yrc national? If there was no yrc national, how much would they need to make to break even, assuming the debt and stocks were wiped clean?
 
The non's better brace themselves for a big reduction in pay if YRC goes down. They still don't realize how there pay is structured to the Teamster wages
 
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