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Thread: Plan B ?

  1. #1
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    Plan B ?

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    We have witnessed corporate blunder after blunder. But yet no one in Higher Management stepped up to correctly adjust. Not a single so called major stock holder called foul. While Millions of dollars were wasted.
    Are these so called highly educated professionals that run our company really at under qualified? Or hasthis been the (quote plan b) all along to give YRC Freight a recipe for failure while building up the Regionals then throw out this garbage hoping it would be voted down.thus allowing the Stock Holders and Banks to pile the majority of the debt onto YRC Freight while reorganizing thru bankruptcy the Regionals?
    Is this Plausible? If so this has been in the making for a very long time. Just some food for thought!

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  3. #2
    herecomesruby is offline Senior Member
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    Really? I hope you understand that YRC Freight, Holland, New Penn, and Reddaway are all subsidiaries of YRC Worldwide. The courts don't let you just pile all the debt onto one company and let all the others get a free pass. The whole corporation would have to file for bankruptcy protection. Then, all shippers would avoid all of the corporation's subsidiaries like the plague. Then there would be a fire sale for all the equipment and properties to pay back all the note holders. There is no "but Holland is doing good we'll keep them operating." If the corporation goes into default, everyone sinks with the ship.......

  4. #3
    weiner is offline Senior Member
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    Bosses just stupid. We gotta bail them out.
    FreightHound likes this.

  5. #4
    badboybill is offline Senior Member
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    Sad but true
    FreightHound likes this.

  6. #5
    Sgt. Schultz is offline Senior Member
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    Quote Originally Posted by FreightHound View Post
    We have witnessed corporate blunder after blunder. But yet no one in Higher Management stepped up to correctly adjust. Not a single so called major stock holder called foul. While Millions of dollars were wasted.
    Are these so called highly educated professionals that run our company really at under qualified? Or hasthis been the (quote plan b) all along to give YRC Freight a recipe for failure while building up the Regionals then throw out this garbage hoping it would be voted down.thus allowing the Stock Holders and Banks to pile the majority of the debt onto YRC Freight while reorganizing thru bankruptcy the Regionals?
    Is this Plausible? If so this has been in the making for a very long time. Just some food for thought!
    I think you`re giving management too much credit. I don`t think they`re smart enough to figure all that out. Some of them that I`ve known throughout the years weren`t smart enough to wear the same color socks on their feet when they came to work and they still made it close to the top.
    FreightHound likes this.

  7. #6
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    Quote Originally Posted by herecomesruby View Post
    Really? I hope you understand that YRC Freight, Holland, New Penn, and Reddaway are all subsidiaries of YRC Worldwide. The courts don't let you just pile all the debt onto one company and let all the others get a free pass. The whole corporation would have to file for bankruptcy protection. Then, all shippers would avoid all of the corporation's subsidiaries like the plague. Then there would be a fire sale for all the equipment and properties to pay back all the note holders. There is no "but Holland is doing good we'll keep them operating." If the corporation goes into default, everyone sinks with the ship.......
    OK I didn't know how that worked. Thanks for clarify it for me. I guess we are run my a bunch of morons

  8. #7
    Elwood's Avatar
    Elwood is offline Question Authority
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    Just so I can wrap my head around this whole thing, what exactly is plan A?
    pilot87 likes this.

  9. #8
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    Quote Originally Posted by Elwood View Post
    Just so I can wrap my head around this whole thing, what exactly is plan A?
    Plan A. Vote yes and get screwed. lol
    tutone710 and yrc-atm like this.

  10. #9
    Yellow who is offline Senior Member
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    Quote Originally Posted by herecomesruby View Post
    Really? I hope you understand that YRC Freight, Holland, New Penn, and Reddaway are all subsidiaries of YRC Worldwide. The courts don't let you just pile all the debt onto one company and let all the others get a free pass. The whole corporation would have to file for bankruptcy protection. Then, all shippers would avoid all of the corporation's subsidiaries like the plague. Then there would be a fire sale for all the equipment and properties to pay back all the note holders. There is no "but Holland is doing good we'll keep them operating." If the corporation goes into default, everyone sinks with the ship.......
    Maybe the laws have changed, but when Roadway was booted out of Roadway Services in the early 90s, Services took all the debt and spun Roadway off debt free,, shortly there after, SPartan was gone, RPS was bought up by and eventually became part of Fed-Ex,, so never say never
    old and tired, ESP, ripper and 2 others like this.

  11. #10
    Elwood's Avatar
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    Quote Originally Posted by FreightHound View Post
    Plan A. Vote yes and get screwed. lol
    I was referring to the company plan.

    When we met with the district managers and district sales managers, etc.... I questioned, "What is your plan?"

    I did not receive a response.

    I asked about addressing freight claims, $285 million annually.

    No legitimate response.

    I inquired about resuming Smith System Training to help reduce accidents.

    No response.

    I inquired about resuming rewards programs for reduced accidents and injuries.

    No response.

    So, what I am confused about, is, what the heck is the company's plan A, if we agree to these additional concessions?

    Business as usual? Not sure that's working.


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