Yellow | Here's an interesting link related to our situation

Take it for what it's worth. I do believe that YRC is going to take as much as we would possibly give them. Hoffa says NO to concessions. YRC calls for a 2 man meeting for the members to put pressure on the IBT to negotiate with them....What? why would we beg to give more back for Another five long freaking years (read: Forever is the reality). I think we give too much back now. What have they done to make my sacrifice worthwhile? Well...nothing, but they say they are gonna start trying if we give even more back for five more years (forever). How much cash was saved on the bottom line from the five minutes of my break they so desperately needed? (nothing... they just knew we would agree to anything they wanted, so they took it). How many of our road drivers will lose their jobs with increased purchased transportation?I dunno, but I wont vote to knock my brother's out of their jobs. Increased sick leave enforcement? What the hell? we are an aging work force and there isn't a provision even allowing you to get your disability pension if you worked at YRC. Call the hall and ask. There is NO retirement. I was supposed to go in 2 years, 30 and out at 52 years old (3K a month), but NO.... now I have to work to 65 to get $2400. Our president told us Central States will be bankrupt in 2023. So I get nothing. Nothing Bro's... Teamsters didn't do this. Corporate greed did this. Nobody wanted to be bought by Yellow. I am from yellow and we didn't want them to buy another truck line, I promise you that! They screwed us all... And now they want us to give it all away by sending these scary propaganda materials to your house to scare your family right at the start of the Holidays. They didn't just realize there was a deficit in the checkbook. The CFO has people tabulating the figures and projecting the futures every day of the year. this is a calculated move on their part. Ask yourself.....what do they have to lose by asking for Everything they want? They are expecting us to bend over and take it. What happens if we don't? Its not the end of our contract. This is a free turn at bat. They have $170 million in cash. They can liquidate and dilute the stock. they do have options. Its just better for them if we eat the sacrifice....again.

Remember the last restructure? what did they do? Debt for equity. Whats that mean? instead of paying our creditor's they gave them majority equity in the company. YRC still owes them the money, it's just owed to the new owners. HMMM.... think about that. Not the crisis they portray is it? They do have a 3rd party bank they owe $600 million they borrowed during the merger when they were burning through cash. That's very real. But how much interest have they been paid? They probably paid more than the principle in interest. They wont be first in line to get paid in a bankruptcy either, leaving them out in the cold without their huge interest payments coming in.

What do I think? (if anybody is even still reading this). I think they are seeing just how much they can take from us. Then they will dilute the stock however much they need to, to get it done. In the meantime get ready for Doom and Gloom from the corporate office. If we don't vote yes for this takeback number 4, they still have another do over coming in our real contract expiration in a year and a half.

Read the article if you will. Get informed as you can. Make the right decision.



3 Roads Left for YRC Worldwide, Inc. and Each Looks Dangerous (YRCW)
 
I and family don"t need to eat pay MORTGAGE etc we will show them right bro. IT'S OVER BRO!. face facts more retired than working. P.S. longterm unemployment ends on Jan 1st . Obama care needs people like you! GOOD LUCK on the NO VOTE tough guy.
 
So lets put this in terms that everyone understands. They would rather take our money in the form of concessions before they dilute there own shares of stock. I hope everyone takes the time to read your post and educate them selves before it's to late. What they are asking for will only line there own pockets while taking what little we have left. VOTE NO !!!!
 
I am only stating my opinions. Maybe you would volunteer to go non union and work for ten bucks an hour if they say they need you to. I personally wont. But like you said... I'm a tough guy. And you are obviously not. Good luck and Happy Holidays!
 
So lets put this in terms that everyone understands. They would rather take our money in the form of concessions before they dilute there own shares of stock. I hope everyone takes the time to read your post and educate them selves before it's to late. What they are asking for will only line there own pockets while taking what little we have left. VOTE NO !!!!

You need to educate yourself about stock. Shareholders own the stock that's out in the open market. Those shares are not owned by the company and the company gets noting from them once they're in the market. So when you talk about them diluting their own shares what are you actually talking about?
 
i and family don"t need to eat pay mortgage etc we will show them right bro. It's over bro!. Face facts more retired than working. P.s. Longterm unemployment ends on jan 1st . Obama care needs people like you! Good luck on the no vote tough guy.

wtf!!!!!!!
 
I was referencing the post above about debt for equity and the shares the CEO and CFO have been paid in the last couple of years. We even supposedly got 25 percent of the shares put into our 401 ks all though I don't see how that added up with everyones 500 bucks lol. Read the post and try to understand.
 
they restructured the company with a debt for equity exchange. The people we owed and couldn't pay, received the equity in the company. Thereby, taking control and virtual ownership of YRC, they were given the preferred stock...not common. But that debt is still owed.... to themselves. Hence, debt for equity = new owners. That money is owed to the new owners. Would you call your own note if they couldn't pay it? Or rake in millions in interest? The bigger problem is the third party bank who loaned them 600 million when they were burning through cash during the merger. Remember that? Those guys did not take equity, they just loaned money.
The article states they can dilute the shares AGAIN and pay the debt, They don't want to, because they will lose money. So they want US to eat crow and work for less and pay off their mistakes. read up.....its out there, just waiting to be read. I posted one article that clearly gives them the option to pay that debt without anymore sacrifice of our pay or work rules. I know which makes more sense to me. You read it yourself and decide!
 
I was referencing the post above about debt for equity and the shares the CEO and CFO have been paid in the last couple of years. We even supposedly got 25 percent of the shares put into our 401 ks all though I don't see how that added up with everyones 500 bucks lol. Read the post and try to understand.

Sorry, my crystal ball isn't working today. Maybe if you used the "Reply With Quote" option the post you're responding to would be more obvious.
 
they restructured the company with a debt for equity exchange. The people we owed and couldn't pay, received the equity in the company. Thereby, taking control and virtual ownership of YRC, they were given the preferred stock...not common. But that debt is still owed.... to themselves. Hence, debt for equity = new owners. That money is owed to the new owners. Would you call your own note if they couldn't pay it? Or rake in millions in interest? The bigger problem is the third party bank who loaned them 600 million when they were burning through cash during the merger. Remember that? Those guys did not take equity, they just loaned money.
The article states they can dilute the shares AGAIN and pay the debt, They don't want to, because they will lose money. So they want US to eat crow and work for less and pay off their mistakes. read up.....its out there, just waiting to be read. I posted one article that clearly gives them the option to pay that debt without anymore sacrifice of our pay or work rules. I know which makes more sense to me. You read it yourself and decide!

While technically the debt for equity swap was for preferred shares, those preferred shares were automatically converted into common shares when the restructuring was approved. Also any issuance of additional shares dilutes the holdings of all the shareholders, not just executives who hold shares.
 
There are no good answers out there for this mess that YRC created. If YRC would close a lot of people will lose their jobs but that freight will still be out there and there already is a driver shortage so most would find work immediately. But would the pay and benefits be as good? Who knows. The work environment would probably be better and most likely the morale would be better than YRC. No one wants to lose what they have and know, but how long can YRC last? It`s obvious that management at YRC is sorely lacking and how many more bailouts will YRC come back for in the future. If the only way YRC can make money is by forcing concessions from employees, they`re not going to be around all that long. Just think about it, If YRC can get the employees to agree to concessions every time they come back to the well, why wouldn`t they keep coming back to the well again and again and again. Senior men with 25 or 30 years , most of them anyway will want to finish their career with YRC and get some kind of pension, but younger men may have a different point of view. Each employee will have to some soul searching and determine what`s going to work for them and vote accordingly.
 
I think they would have a much better chance if they led by example and sacrificed several of their millions for the cause. How can they ask others to take a cut while they're loading their own bank accounts?
 
Sorry, my crystal ball isn't working today. Maybe if you used the "Reply With Quote" option the post you're responding to would be more obvious.

Does your crystal ball ever work? With all your stock knowledge we could make a killing! Leme know if you get that thing fired up!
 
Does your crystal ball ever work? With all your stock knowledge we could make a killing! Leme know if you get that thing fired up!

Ha! Making a killing isn't too far removed from getting killed (in the investment sense of course). As long as my crystal ball works more times than it doesn't I guess it's OK. :biglaugh:
 
I and family don"t need to eat pay MORTGAGE etc we will show them right bro. IT'S OVER BRO!. face facts more retired than working. P.S. longterm unemployment ends on Jan 1st . Obama care needs people like you! GOOD LUCK on the NO VOTE tough guy.
So why is he a tough guy! Everything he said is dead on and is probably one of the best post I've read on here in a long time! I no longer work for YRC but I do have in interest as to what happens especially if this passes.What do you think ABF is going to want if this P.O.S.passes? How long are you going to let the school yard bully keep taking your lunch money before you say I had enough and knock his *** out? It's about time Teamsters start acting like Teamsters again or burn your union cards because if this passes you might as we'll be non-union!
 
I assume we all forget about our Fidelity accounts? YRC "awarded" us shares of company stock.
After 2 reverse splits, we all became owners of worthless stock!
If I remember correctly, wasn't the stock in return for the first 10% wage concession?
Now, we have current employees, whom are willing to believe AGAIN, the propaganda/lies/deceit, once again?:regretful:

What I really find odd, is that some fellow employees received all 6 types of propaganda, including the DVD, but I, myself, didn't receive a single postcard.
Is that the reason why 3 months ago, YRC requested a "current" mailing address from all employees?
Or did YRC assume I'm just a lost cause and unworthy of persuasion?
 
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YRC's sandwiched in between the lower cost of FedEx's and Old Dominion's non-union workers,


True of OD maybe but do you know if they have a pension or 401K,but i beg to differ about Fed-ex i hear they make more than YRC drivers and they get OT after 8.

But hey at 26 and change an hour who needs OT.
 
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