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Yellow | First wave of Yellow terminals will go for $1.9B; sale process ongoing

Impossible.. Yellow needs those terminals.. some flavour of the week white knight is going to save Yellow and 30000 people will be back just like the good old days. Just read every other post in this forum for proof. 🙄
 
truckerx said:
Impossible.. Yellow needs those terminals.. some flavour of the week white knight is going to save Yellow and 30000 people will be back just like the good old days. Just read every other post in this forum for proof. 🙄
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The fat lady hasn't sung yet, but she is warming up.
 
truckerx said:
Impossible.. Yellow needs those terminals.. some flavour of the week white knight is going to save Yellow and 30000 people will be back just like the good old days. Just read every other post in this forum for proof. 🙄
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They were the high bidders, that doesnt mean they will actually get the property it still has to be approved by the judge. This is a chapter 11 bankruptcy and the restructuring deal by Next Century is still in play. Everything has to go on as scheduled in case the going concern bid is not accepted or withdrawn but to my knowledge that has not happened yet so fingers crossed for the Dec 12th court decision to allow the going concern bid to restart the company as the best option going forward!
 
RumRunner1 said:
They were the high bidders, that doesnt mean they will actually get the property it still has to be approved by the judge. This is a chapter 11 bankruptcy and the restructuring deal by Next Century is still in play. Everything has to go on as scheduled in case the going concern bid is not accepted or withdrawn but to my knowledge that has not happened yet so fingers crossed for the Dec 12th court decision to allow the going concern bid to restart the company as the best option going forward!
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I'm afraid that's wishful thinking, Rum. Here's why-the bid for the already sold terminals is nearly equal to the Next Century bid for the going concern, AND there are 46 terminals still on the auction block, AND the rolling stock value still hasn't been realized, AND the Treasury says they can't extend the CARES load maturity date without an act of Congress. So the possibility of that "going concern" bid being accepted at this point is practically non-existent. It would make the difference between the unsecured creditors not seeing any money, and the unsecured creditors seeing at least a part of their money. I'm sure you can figure out where that's headed.
 
Real Teamster said:
I'm afraid that's wishful thinking, Rum. Here's why-the bid for the already sold terminals is nearly equal to the Next Century bid for the going concern, AND there are 46 terminals still on the auction block, AND the rolling stock value still hasn't been realized, AND the Treasury says they can't extend the CARES load maturity date without an act of Congress. So the possibility of that "going concern" bid being accepted at this point is practically non-existent. It would make the difference between the unsecured creditors not seeing any money, and the unsecured creditors seeing at least a part of their money. I'm sure you can figure out where that's headed.
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I get what you're saying and also the reasoning everybody is giving for thinking it is over. However, while the Treasury dept. said they didnt know for sure if they can defer the loan they also said it MAY be possible and initially said that DOJ probably had the authority to make an exception which was in the process of being requested. The other properties still up for auction are irrelevant since everything has to be approved so it's still business as usual as far as the auction is concerned for the reasons I previously mentioned, they are not going to just stop everything because of the going concern offer but that doesn't mean the high bidders will automatically get everything. Sure it's a longshot but thats what has been said all along, it's a longshot bid but not impossible. Yes I do believe miracles! :saturn:
 
RumRunner1 said:
I get what you're saying and also the reasoning everybody is giving for thinking it is over. However, while the Treasury dept. said they didnt know for sure if they can defer the loan they also said it MAY be possible and initially said that DOJ probably had the authority to make an exception which was in the process of being requested. The other properties still up for auction are irrelevant since everything has to be approved so it's still business as usual as far as the auction is concerned for the reasons I previously mentioned, they are not going to just stop everything because of the going concern offer but that doesn't mean the high bidders will automatically get everything. Sure it's a longshot but thats what has been said all along, it's a longshot bid but not impossible. Yes I do believe miracles! :saturn:
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And I hope that miracle comes of fruition. I really do!
 
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