[quote author=vwaggs link=topic=79828.msg833597#msg833597 date=1275069888]
[quote author=roadway77 link=topic=79828.msg833586#msg833586 date=1275064383]
[quote author=vwaggs link=topic=79828.msg833572#msg833572 date=1275060147]
The best idea would be for our Brothers, in partnership w/the union, form an investment group and once financing is in place, do a tender offer to buyout. This would assure we obtain control.
Even if the union were only to coordinate the effort on behalf of its YRC members, making them front the funds before a tender offer is made, it might be workable.
a while ago when i was on my way to the hotel on a run, the fellow driving me there was talking to some other drivers , the guy seemed to have a good head on his shoulders and did not seem to talk out of his a$$ . he mentioned something like that , employed owned ?
The Big Picture is this...
There is only so much pie to go around.
Most of the pie has been eaten. We cannot change that. All we can do is fight for our share of the pie that is remaining and what is coming out of the ovens.
We are in competition for this with Banks, Shareholders, YRCW upper management, repair facilities and oil companies. If we become the Shareholders, we run YRCW upper management, pay off the banks (get back onto a non debt process), then all we need to deal with are repair facilities and oil companies.
That is simplifying things, however, all things being equal, we get more job security and continue to eat our pie.
Thats how it should have gone down in the first place, but they are greedy. They knew that they could screw over the bond holders and the Teamster owners. It would still be pretty cheap to buy it today. $368 million divided by 23,000 teamsters is only $1600. I got $1600? Maybe twice that if they pay off the remaining debt.