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Reddaway | For sale?

crazy said:
The quarterly report said that the regionals were operating in the high 90's and that came right from Zollars .We were told that Newpenn operated in the mid 90's so I don't see where you get 1.20...I also think they will be forced to sell off the regionals as the thirst for cash grows on YRC
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Wow, very nice point.
 
allnightrain44 said:
not to burst your bubble there steaker, but yrcw won't let any of us alone, they are takeing every damn dime of profit ,they are selling yours and ours-npme- terminals and takeing all the cash they can get to fill there coffers to keep yrc alive. npme and reddaway have a good interline thing going and it makes money for both of us, ok. i see the revune. but the fact is your not reddaway, and were not npme, and holland ain't holland anymore but in name. truth is were all just big losers under the YRCW banner,even if our individual companys do turn a profit. it's all going to save yrc. npme has always paid for there equipment, yrcw forced us to take delivery of 50 tractors we didnt want, and said you will lease them. more monethly expense, they have sold 3 that we no of terminals,for millions,taken the cash, and now we lease them from our biggest competitor in the northeast. includeing our nyc terminal, more expenses for us ,more cash in there pockets, all to save yrc.in the end,they will liquidate reddaway npme and holland and sell everything they could possably get a dime for just to save yrc. 1st quarter results came out , not as regional or national but as YRCW and subsituarys lost 257 mil. were all one big family of losers to them, as they bleed all the cash from us they can get and put the expenses on our books. they posted final numbers with the SEC yesterday and signed off on them, said the regionals, came in at a 1.20$ o/r , said the regionals lost 74 million for the company in the 1st quarter. you won't be sold ,we won't be sold or holland either, it's just a pipe dream for all 3 of us.
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You are 100% right. I also found out that in Fontana RETL, YRC forces the terminal to pay $480,000 a month just for being able to operate under YRC. This is a monthly fee for 1 terminal. Ask your TM to see his O/R sheet. This payment is on there. If FON didn't have to pay this "FEE" we would be operating in the mid to low 80's. Check it out for yourself.
 
Aren't these payments great, and YRCW actually has the nerve to call them "management fees", they couldn't manage there way out of a paper bag. Was told we did 97 o/r for 1st quarter, but till YRCW took there 4 points, forced us into a 1.01 o/r. They took all the profit we made-how ever small it might have been- plus some more. They just sold 3 of our terminals, our costs will now go up to the tune of 205,000.00 a month, plus the quarterly management fee's. Plus they got the cash for the terminals they sold and then they said on these quarterly reports how the regionals are dragging the company down. Now we lease a new group of 50 new tractors, that we said we didn't want or need, I can only imagine what that added monthly expense comes to.
 
Yeah, I've heard the a rumor that ABF may buy Reddaway to gain regional LTL overnight service non the west coast. That's great. FYI to Reddaway employees who have mixed emotions about the union. If indeed they do buy you and incorporate you into ABF and you are non-union, you will all endtail behind the union workers at ABF. This is simply the truth. Just food for thought for you Reddaway guys, I have worked both sides of the fence (union and non) and I would never go back non. Don't listen to T.J. O'Connor's bullshit about why you shouldn't be union. Make the wise choice about what is best for you and your family.
 
chip63 said:
Yeah, I've heard the a rumor that ABF may buy Reddaway to gain regional LTL overnight service non the west coast. That's great. FYI to Reddaway employees who have mixed emotions about the union. If indeed they do buy you and incorporate you into ABF and you are non-union, you will all endtail behind the union workers at ABF. This is simply the truth. Just food for thought for you Reddaway guys, I have worked both sides of the fence (union and non) and I would never go back non. Don't listen to T.J. O'Connor's bullshit about why you shouldn't be union. Make the wise choice about what is best for you and your family.
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That's funny. I've never heard T.J. say either way about the union. In fact at Bestway, he was the one that gave us the neutrality/card check agreement. Plus, even if nonunion Reddaway employees end tail they've still got Reddaway runs merging with ABF runs. Don't get me wrong, I'd like to see all of Reddaway organized but right now it's about keeping your job. I think right now isn't the time to start the Union campaign. Not with the way things are right now. When things start picking up then they can start the process again.
 
Plus, even if nonunion Reddaway employees end tail they've still got Reddaway runs merging with ABF runs.
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Yeah, but if any union guys are on layoff with more seniority wouldn't they come back before the non-union guys can endtail. I would think the nons would be laid off and they laid off union guys would take those runs. I could be wrong but I just can't see the nons endtailing before the union laid off guys are back to work. At least the ones with more seniority. Which would probably be all of them.
 
USA TRKR said:
Yeah, but if any union guys are on layoff with more seniority wouldn't they come back before the non-union guys can endtail. I would think the nons would be laid off and they laid off union guys would take those runs. I could be wrong but I just can't see the nons endtailing before the union laid off guys are back to work. At least the ones with more seniority. Which would probably be all of them.
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I didn't think about the layoff deal but down here, I don't think they've got anyone on lay off. But that's a good point. However, do you really think that with the contract that Reddaway has that it's gonna make a difference against the Master Freight Contract that ABF has? I personally don't see it making a difference unless the ABF employees want it too. Whether Reddaway Terminals are union or not, it's up to the guys at ABF whether they want Reddaway employees to dove tail or not. Just my opinion but we'll never know until or unless it happens.
 
Turtle2464 said:
I didn't think about the layoff deal but down here, I don't think they've got anyone on lay off. But that's a good point. However, do you really think that with the contract that Reddaway has that it's gonna make a difference against the Master Freight Contract that ABF has? I personally don't see it making a difference unless the ABF employees want it too. Whether Reddaway Terminals are union or not, it's up to the guys at ABF whether they want Reddaway employees to dove tail or not. Just my opinion but we'll never know until or unless it happens.
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Even if they bought us, I dont think they would even consolidate the drivers, they would just leave us alone and let us operate the way yrc does...You know REDDAWAY a division of ABF 10-4?
 
Has anybody seen the ABF yard in Sac??? About 4 months ago they finished doubling the size of the dock, About 25 more doors than they need. Hummm????? If they purchase Reddaway, the first thing they would do is bring back the nine guys they have on layoff. I also herd a rumor that Reddaway is dumping Home Depot, there’s another 5 city drivers they don’t need. Now by my math that means they would need about 10 local drivers, line I can’t even make a guess and dock maybe two or three guys, if they hold a class A. Then on top of that there is the black list to take into consideration. A withdrawal card would be helpful, but even then yrc has over 100 layed off Teamsters and then there’s the fact that CF is the business agent at the local 150 for ABF and YRC and Reddaway oops did I say Reddaway. Well that desert really was the stupidest most insane moronic idiotic thing that anybody could have ever voted for. But don’t worry fellas Tomato season is coming.:pirate2:
 
Turtle2464 said:
I didn't think about the layoff deal but down here, I don't think they've got anyone on lay off. But that's a good point. However, do you really think that with the contract that Reddaway has that it's gonna make a difference against the Master Freight Contract that ABF has? I personally don't see it making a difference unless the ABF employees want it too. Whether Reddaway Terminals are union or not, it's up to the guys at ABF whether they want Reddaway employees to dove tail or not. Just my opinion but we'll never know until or unless it happens.
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That about sums it up. They will do what they want and that might not be good for the Reddaway guys.

Littlepuppet,

I don't think they will just let them continue they way they are. They would become union and that has its own set of rules. Judging by what we have seen in the past ABF will make all the decisions. I personally don't think they will buy them but who knows.
 
USA TRKR said:
That about sums it up. They will do what they want and that might not be good for the Reddaway guys.

Littlepuppet,

I don't think they will just let them continue they way they are. They would become union and that has its own set of rules. Judging by what we have seen in the past ABF will make all the decisions. I personally don't think they will buy them but who knows.
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I'm with you on that, why would they buy us when they LOST millions in the first Q, and they will lose more in Q#2? Nobody buying anybody rightnow:shift:
 
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