bigtruk_us
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wonders if zollars was involved in any of that insider trading?
Yellow | YRC almost sold
- Thread starter Irishman107
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wild deuce
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it is s a mystery
I wish I was a fly on the wall when Yellow and Roadway made the deal to buy whoever bought whoever. My belief is that Yellow and Roadway agreed to merge to put the Teamsters in a little basket. I don't know who approached who, but it is obvious to make the deal, Yellow had to agree to replace all the lower management and the operation with Roadway's managers and operation. It's hard to figure out why Zollars and most of Yellow's upper management remained in place unless Yellow had the bigger stake in the deal. Of course I don't know, it's all kind of confusing and alot of answers to our questions will never be answered.
J
Jay C
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there was too much capacity and overlap even back then before the buyout. Roadway top management Wickham and Staley and top shareholders retired multi-millionaires with the deal. It was a legit buyout. Zollars was top gun then and now. Things did not go as planned
They're down but not out but
as long as the fat broad don't sing the second half of 2010 will rock
They didn't have to go through all of this they could have just went bankrupt and ended it.
Not legally. They would need to have a shareholder vote on closing the company, which never would have gone through. The customers would have left enmass and the company would have lost money.
J
Jay C
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the pay scale and pension imploded after the merge..the Yellow-Roadway merge was a disaster. It wasn't a conspiracy. They knew it would be a disaster and only made worse by the recession. The IBT backed the pension and pay cuts and the IBT will have it restored if applicable.. by applicable I mean
1. they are profitable
2. the pension legislation has two aspects and has to pass..
a. one aspect would give funds more time to recover from the stock market collapse. This is widely supported by industry, labor and multi-employer pension plans.
b. another part of the bill could lead to taking retirees from companies that have gone out of business and separating them out from our union pension plans. The legislation would strengthen union pension plans by making the Pension Benefit Guaranty Corporation (PBGC) responsible for some of their pension fund liabilities..
if the funds fall into 'critical status' or 'endangered status' the trustees of the plan are required to adopt a rehabilitation plan..the New England fund is already classified 'critical status' imagine what it will be by the end of the year. If the plan falls into 'endangered status' orphans may take the hit
participants who leave covered employment before they are eligible to retire must wait until they are age 64 to draw their pension
1. they are profitable
2. the pension legislation has two aspects and has to pass..
a. one aspect would give funds more time to recover from the stock market collapse. This is widely supported by industry, labor and multi-employer pension plans.
b. another part of the bill could lead to taking retirees from companies that have gone out of business and separating them out from our union pension plans. The legislation would strengthen union pension plans by making the Pension Benefit Guaranty Corporation (PBGC) responsible for some of their pension fund liabilities..
if the funds fall into 'critical status' or 'endangered status' the trustees of the plan are required to adopt a rehabilitation plan..the New England fund is already classified 'critical status' imagine what it will be by the end of the year. If the plan falls into 'endangered status' orphans may take the hit
participants who leave covered employment before they are eligible to retire must wait until they are age 64 to draw their pension
Irishman107
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there was too much capacity and overlap even back then before the buyout. Roadway top management Wickham and Staley and top shareholders retired multi-millionaires with the deal. It was a legit buyout. Zollars was top gun then and now. Things did not go as plannedThey're down but not out butas long as the fat broad don't sing the second half of 2010 will rock
You been saying 2nd quarter, now it's SECOND HALF 0f 2010. Guess next week it will be 1st Half of 2011.
Starting to sound like a weatherman JOEY
J
Jay C
Guest
Zollars said they would have positive cash flow and no operating loss by the 2nd quarter is what I said then. Zollars said the economy will pick up a few notches in the second half. He's the economist..why would you doubt him
As opposed to all the people that bad mouth your company and union on a daily basis on these boards? If you you really are a member of the Team and the TEAMSTERS then STFU and get to work. I'll take THE JOE everyday over your sour arse!
All that was needed was to not pay bills and not negotiate alternatives. BK would have been forced.
J
Jay C
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#
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sell his Big Yellow Dog? no way!!!
#
sell his Big Yellow Dog? no way!!!
Italian Style
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He should of stuck with his own management and not with *******. YRC would have been better off.
Irishman107
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Well you can have Management Joe. Maybe he can put a good word in for you with Zollar... Speaking of getting to work you better turn it up a little there . The only reason Holland might be close to making a profit is because of the 11+ a hour we gave back. At least lil old New Penn always operated under 100 even with full rate and pension. So maybe you can give some Free time so Holland can get into the black, God knows you fell over each other to vote away everything else.
Holland didnt know what "red" was until Yellow started Friggin with us. We were always the men in black.
Holland never heard of a Loss until Yellow came along. Only reason we dont show a profit? YRC sucked it right off our bottom line!
J
Jay C
Guest
Well you can have Management Joe. Maybe he can put a good word in for you with Zollar... Speaking of getting to work you better turn it up a little there . The only reason Holland might be close to making a profit is because of the 11+ a hour we gave back. At least lil old New Penn always operated under 100 even with full rate and pension. So maybe you can give some Free time so Holland can get into the black, God knows you fell over each other to vote away everything else.
We need a trash compactor with you around..everything you say is cheap bs
HAmmer-Roadway
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Absolutly correct