Yellow | IBT Vote Allows YRC Worldwide (YRCW) to Continue Capital Structure Plan

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YRC Worldwide Inc. (Nasdaq: YRCW) announced that it is continuing to execute on its plan to refinance its capital structure by successfully achieving yet another milestone. "The affirmative vote from local IBT leaders allows us to begin the ratification process by which the company is seeking to extend the current MOU [Memorandum of Understanding] to March 31, 2019, gain additional operating flexibilities in areas such as the increased use of purchased transportation and utility employees, among others, and allows us to move forward with our effort to refinance the company's balance sheet," stated YRC Worldwide CEO James Welch.
IBT Vote Allows YRC Worldwide (YRCW) to Continue Capital Structure Plan
 
Once again we haven't even voted yet, and, He sounds so sure that it will pass......I am surprised He didn't state by what percentage it was ratified by?
 
Once again we haven't even voted yet, and, He sounds so sure that it will pass......I am surprised He didn't state by what percentage it was ratified by?


That's why I posted it, Not trying to **** anyone off but it just appeared to me they were putting the cart in front of the horse...
 
IBT Puts A New Meaning On "Neutrality Agreement"!

I understand that.I said he "sounds so sure" it will pass
Of course he's sure it will pass. He spent big money on a P.R.firm to make it happen! He got a "neutrality agreement" from the IBT so they would remain "neutral" and not make any recommendations on how to vote. The Local Freight leaders looked to the IBT Freight Division leaders for guidance, and got NONE! Now Welch and his cronies will hammer YRCW Teamster employees with more robo-calls, conference calls, captive meetings at work, mailers, etc. etc...all the way through the Christmas Holidays. The IBT will sit back and say "do what's best for your families" and don't blame us if YRCW goes belly-up! And still no info from the lending institutions or Teamster appointed YRCW board members as to how much they are willing to negotiate?! It's not a good situation all the way around!

:argue:
 
"If we are unable to extend our existing union agreements, we may be unable to refinance or restructure the portions of our debt which
mature in 2014, which would have a material adverse effect on our business, financial condition and results of operations"

Why does the union not give a counter proposal?
Tell YRC we will agree to a 5 year extension, in order to, obtain the needed financing, but, nothing else.

The graphic they have on the YRC website is soooo insulting.
YRC_Route.jpg

Why not counter with a graphic, where, the Membership, is proposing an alternative, and management, is the one at the fork in the road?

This is all about "spin" why not turn it around?
 
"If we are unable to extend our existing union agreements, we may be unable to refinance or restructure the portions of our debt which
mature in 2014, which would have a material adverse effect on our business, financial condition and results of operations"

Why does the union not give a counter proposal?
Tell YRC we will agree to a 5 year extension, in order to, obtain the needed financing, but, nothing else.

The graphic they have on the YRC website is soooo insulting.
YRC_Route.jpg

Why not counter with a graphic, where, the Membership, is proposing an alternative, and management, is the one at the fork in the road?

This is all about "spin" why not turn it around?

Because we are part of a union that looks at technology like the internet as a cancer! Something to be feared and loathed.
You are right, IBT should be on TV expounding YRCW's tactics and calling :horse****: on this.

But they won't!!
 
Of course he's sure it will pass. He spent big money on a P.R.firm to make it happen! He got a "neutrality agreement" from the IBT so they would remain "neutral" and not make any recommendations on how to vote. The Local Freight leaders looked to the IBT Freight Division leaders for guidance, and got NONE! Now Welch and his cronies will hammer YRCW Teamster employees with more robo-calls, conference calls, captive meetings at work, mailers, etc. etc...all the way through the Christmas Holidays. The IBT will sit back and say "do what's best for your families" and don't blame us if YRCW goes belly-up! And still no info from the lending institutions or Teamster appointed YRCW board members as to how much they are willing to negotiate?! It's not a good situation all the way around!

:argue:

A lot of what is written on truckingboards reminds me of what is said when 10 drivers get together at a diner to discuss a proposal. All 10 will be against it and guarantee they`ll vote no and how much they hate the proposal, but when they get home,7 out of 10 will vote for it. Then, the next day, all 10 will swear they voted against it. While I may not agree with their votes, I understand why they voted as they did. Everyone has to vote in the best interest of themselves and their family. I think that is the reason the company is so sure of a ratification of their proposal. The union`s neutral position is also understandable. Their main focus is to keep the dues coming in and they don`t want to be blamed for the loss of road positions that will be lost with the introduction of "Purchased Transportation". I don`t mean to question anyone`s motives, but this is how it happens.
 
"If we are unable to extend our existing union agreements, we may be unable to refinance or restructure the portions of our debt which
mature in 2014, which would have a material adverse effect on our business, financial condition and results of operations"

Why does the union not give a counter proposal?
Tell YRC we will agree to a 5 year extension, in order to, obtain the needed financing, but, nothing else.

The graphic they have on the YRC website is soooo insulting.
YRC_Route.jpg

Why not counter with a graphic, where, the Membership, is proposing an alternative, and management, is the one at the fork in the road?

This is all about "spin" why not turn it around?
Yeah, that graphic IS insulting, but it works! Cartoons and graphics have always worked better than facts...the P.R. firms know that! That graphic is almost as insulting as that $750 dollar signing bonus!
 
Our long planned refinancing strategy ? Now it's time to stick it to the workers, don't give them time to ask questions, just threaten them with bk. Sorry mr welch, This time by your own statement I'm not buying the line. It was your change of ops that screwed many families and lost business. You want us to believe that j Rodgers just thought it up and did it on his own, without you and the b o d not having an idea what was going to happen? Now you not only want an extention but a change of work rules also? Sorry no. I read your sec filing and saw that you will be coming for more soon.
 
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You know what I think? I guess you have your "mind reading" side job all set in case they close then. Hello yourself ??

Yes I do. You want all YRC employees to continue working no matter the conditions or rate of pay, becuse it is in YOUR best interest. And the people I talked to are not worried about their next gig, they just want to see YRC out of business for good. It's a personnel war now. And most are trying thier best to help sink the ship everyday they come in. But YRC doesn't need any help they are doing a fine job all on thier own of sinking the ship. FYRC
 
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Yeah, that graphic IS insulting, but it works! Cartoons and graphics have always worked better than facts...the P.R. firms know that! That graphic is almost as insulting as that $750 dollar signing bonus!

I'm surprised they didn't put Welch out there in clown suit directing traffic being the fact is he's trying to direct our voting!:LMAO:
 
Yes I do. You want all YRC employees to continue working no matter the conditions or rate of pay, becuse it is in YOUR best interest.

Well you better find another side job because the one you have isn't working. You claim to know what I want - you're clueless.

What I'd like is to see is a large Teamster job (one of the last I might add) continue to exist for the benefit of all those Teamsters currently employed and for the benefit of the union movement in general. If taking a hit now is what it takes to keep them operating at least then there is something to push back at if and when their financial position strengthens. If they are forced to shut down then what's left of Teamster LTL? How do you fight back to regain what we temporarily gave up if there is nothing there to fight against. Nobody, myself included, would vote for givebacks in normal times, in normal union/company contract negotiations. In my opinion, this is a different situation. You obviously see it differently. No problem there, we all have our opinions on this.

Oh, by the way, go ahead and give me more negative reputation marks just because I don't agree with you.
 
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