Listen folks, I assume if your on this forum, DUH, you have computer....do a little research for yourself, and don't buy all this NO VOTER BS, some of these jokers put out here....this ain't no scare tactic, or threat, it just the way the market works
ABF | Don't do it
- Thread starter ABF Mike
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Not a scare tactic? Sure sounds like Judy has you scared!
Come on TurnCoat, everything is a conspiracy to keep the little guy down to these fellas.
Its been rather entertaining reading all the different threads on this one subject.
Everyone seems to be in the know, even though they know nothing.
D
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Maybe a scare tactic, maybe not. What we have here is a high stakes poker game and we need to figure out if it's a bluff or not. Some think it is, others think it is not and I doubt that anything will change each others' minds. Now it's time to see who blinks.
D
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Everyone, that is, except the stonehead, he knows all and sees all. Now I know that he and his friends are major ABF stockholders and that he has the full inside scoop. So great master, which way shall I go?
He started an entire thread titled yes mam. He keeps posting that if you don't vote this contract in, you will be merged with yrc a company he suppoedly gave up a top spot to leave.
1)Anyone can inquire about purchasing anything, doesn't mean you can obtain the funding to do so. 2) The LTL makes up 80% of ABC it doesn't not make any business sense what so ever to sell 80% of your entire business for a 1|3 of it's value even in a down market. 3) I do not care what the leaders of this company is compensated If they can make whatever they can good for them....However I DO care about my compensation and will not or see any reason I should give back anything that I have earned.
nothumbleenough
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Mutual funds and institutional investors own roughly 85 percent of Abf stock. I would assume mr. young does have preferred shares over common that does entitle the holder voting previlges for proxy issues like control of management.
It seems the real risk is for the stock to drop from something real newsworthy. YRC could pick up the assets of Abf for pennies on the dollar. I would bet that is why Welch made the public statements. Kind of shrewd on his part.
Doesn't mean he's scared.
D
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Selling off ABF would not be the way to go, U-Pack is worthless as a stand alone company and Panther is moving a bit of our freight but not enough to sustain our upper management. Welcher's offering price is what ABF is worth-book value, no real premium offered there. ABF could close up shop and liquidate and get the same result. Additionally I suspect that they own some property that has been on the books for quiet some time, which is reported at substantially less than its true value. ABF and any prospective butchers would know that as well, it's one of the things they look for. Realistically I'd expect a bidding war over the company before a flat out takeover by YRCW.
Thanks Stoney. Not scared....or stupid either....may find myself laid-off in the end, but that's ok, I took the risk, but I took my 4 weeks vacation, and walked. We gave up a lot to help that outfit survive, and we were disrespected for it. I have not been treated that way over here. Better managed, better equipment, better safety program, better technology, more innovation. Before I say HELL NO! I won't bend, remember money isn't everything a company compensates you with. Trust me, the bottom here beats the top there, so compare what they have and what ABF has agreed to...consider it carefully.....and decide which you want, because soon you shall have one or the other if you can hold a spot...until their next COO and no telling where you will go...I shall have ABF or nothing...I'll be out of the game if this crap goes down and I'll be moving on
truckerboy
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We need ups to buy us..not yrc
We are going to hopefully be given the opportunity to buy ourselves, We the ABF employees, willing to work with our management to bring this company back to profitability and out of the reach of the vultures.
ABFS is over 80% held by institutions. Their sole purpose is to grow their investors money. It's why they exist. You know, like we exist to drive trucks. It's nothing personal. If your company fails to perform, they sell you , and invest the gains (or losses) into another company they believe will return a profit on their investment. No sir, Mr. Young may have some input, but he no longer has controlling interest. Here's the link ABFS Major Holders | Arkansas Best Corporation Stock - Yahoo! FinanceYou can go back to your desk now. Nothing is is going to get gobbled up as long as Robert Young ows 51% of the stock. If your one of us (doubtful) you can quit peeing your pants.If your mgmt you can tell your boss nice try Ill keep on it.
Lurk on
Turncoat, you are correct in what you say. ABFS is over 80% owned by mutual funds and they want to make a profit. And ABFS revenue is growing. Management says the bottom line (profits) is not; but that could simply be an accounting error. Revenue grew by over 18% the first quarter of this year. That is very good growth considering last year ABFS revenue was at an all time high. Conway and OD did not grow at that rate. I still say vote no and send them back to the bargaining table!
You can go back to your desk now. Nothing is is going to get gobbled up as long as Robert Young ows 51% of the stock. If your one of us (doubtful) you can quit peeing your pants.If your mgmt you can tell your boss nice try Ill keep on it.
Lurk on
Yeah right. That's the kind of naive thought process that many Roadway employees had. Then Sarah Roush cashed in. NEVER BE SURPRISED!
Thank you, I will put my money on this horse when and if I get a chance, If enough want to keep gambling, we may get a little more, not worth the risk in my opinion, but, hey. I'm just along for the ride.