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ODFL | Layoffs

BillyLo said:
Yo they will be gone too.,, but don’t worry we will be slow still bc we cost too much for the customers who use yrc
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You guys ary lucky, PIE tried to buy OD years ago when they were buying all those truck lines.
Had that come to pass, Billy would be doing my switching, cleaning my WS, I'd drop all the crappy runs on him.
Probably let him hook up my CB before each trip. 10-4 BillyBob?
 
seabreeze said:
You guys ary lucky, PIE tried to buy OD years ago when they were buying all those truck lines.
Had that come to pass, Billy would be doing my switching, cleaning my WS, I'd drop all the crappy runs on him.
Probably let him hook up my CB before each trip. 10-4 BillyBob?
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Easy, breeze. Billy gonna have you on blade sharpening duty all day this weekend....
 
1 Lone Ranger said:
YRC maybe but I don't really see XPO going upside down.JMO.As far as any potential freight from YRC my understanding is there isn't much we would want.But it would probably cause some capacity issues within the industry.

If YRC goes under what happens to the regional LTL carriers? Reddaway etc.They done too?
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The reason I said XPO is it was pretty clear that the guy that bought them isn't real sure what to do with them after he couldn't sell them off. He had them prepped for sale back in 17 but didn't receive any offers. Now he's making more purchases and then also buying back stock and the debt is adding stacking up, quick. Now this Amazon fiasco. I think it's a classic case of the head honcho who's plan didn't go as expected, so he's going to purposely put them into bankruptcy so he can liquidate and still walkaway with a stack of cash and s*** eating grin. Could be entirely wrong, but this is what I see when I string all the news stories on XPO together.

I agree if YRC fails it'll likely mean all entities going under. Bankruptcy for such a large company with clearly separate entities can be complicated. It may be possible for them to keep some entities if they are self sustained and profitable. More likely it all gets liquidated, or the smaller companies get sold off for cash to go towards the massive debts owed to creditors by YRC.
 
It's a damn shame that all these assholes do is buy up stuff to part it out and sell it.And make a profit.Sears been losing money for years.But hire a new CEO and he gets a golden parachute while working people get screwed.

The old Conway freight part of XPO is probably quite a big chunk of money if you wanted to buy it.But let it lose more money sell for a loss or part it out if that's possible. I never thought of it but it makes sense what you're saying.

Anyone think OD would buy any part of the YRC regional carriers? It's possible but their model now seems to be expand where you can or build in targeted locations where there are opportunities. I'm thinking maybe not but what do I know?
 
There is no way anyone in their right mind would buy any part of YRCW. You could wait for it to fail, and pick up the pieces for free.
That doesn’t mean however, that someone with more ego than sense wouldn’t try.
 
Knucklehead said:
Its not too bad up here at Billy's terminal for Linehaul. Guys staying somewhat busy on the wild board. When we do have guys sit a day a week, its messed up when you see a city guy going to Boise every weekend as if its his scheduled run. His normal city route then over 1000 miles on weekends, and the wild board isn't even offered it. If they are going to use him, send him on the shorter turn and offer the long run to wild linehaul, after all its their job
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Too bad you can't file grievance oh I forgot not Union!
 
1 Lone Ranger said:
It's a damn shame that all these assholes do is buy up stuff to part it out and sell it.And make a profit.Sears been losing money for years.But hire a new CEO and he gets a golden parachute while working people get screwed.

The old Conway freight part of XPO is probably quite a big chunk of money if you wanted to buy it.But let it lose more money sell for a loss or part it out if that's possible. I never thought of it but it makes sense what you're saying.

Anyone think OD would buy any part of the YRC regional carriers? It's possible but their model now seems to be expand where you can or build in targeted locations where there are opportunities. I'm thinking maybe not but what do I know?
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Probably not.OD would buy up property most likely like they have in the past dirt cheap
 
lhdrvr said:
The reason I said XPO is it was pretty clear that the guy that bought them isn't real sure what to do with them after he couldn't sell them off. He had them prepped for sale back in 17 but didn't receive any offers. Now he's making more purchases and then also buying back stock and the debt is adding stacking up, quick. Now this Amazon fiasco. I think it's a classic case of the head honcho who's plan didn't go as expected, so he's going to purposely put them into bankruptcy so he can liquidate and still walkaway with a stack of cash and s*** eating grin. Could be entirely wrong, but this is what I see when I string all the news stories on XPO together.

I agree if YRC fails it'll likely mean all entities going under. Bankruptcy for such a large company with clearly separate entities can be complicated. It may be possible for them to keep some entities if they are self sustained and profitable. More likely it all gets liquidated, or the smaller companies get sold off for cash to go towards the massive debts owed to creditors by YRC.
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All 4 of the yrcw companies are tied together as 1. The banks demanded that back when the rocket scientist, Zollars,made a complete fool of himself masquerading as a CEO. Not saying that some Eddy Lampert type guy couldn’t undue that. But as it stands now, you buy 1, you get them all.
 
BIG R GUY said:
All 4 of the yrcw companies are tied together as 1. The banks demanded that back when the rocket scientist, Zollars,made a complete fool of himself masquerading as a CEO. Not saying that some Eddy Lampert type guy couldn’t undue that. But as it stands now, you buy 1, you get them all.
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Thanks for clarifying. That Lambert guy is a real piece. I mean after taking a huge salary, for I think it's been over a decade running Sears Kmart into the ground, while running it from computers and video screens down on billionaire island, now his hedge fund buys it to finish running it into the ground, when there's no air left to suck out of it, he's got to be cashing in on the backend big-time somehow, it's disgusting. Sure seems like something similar is happening somewhere and YRC with it clinging to life now for going on 12 years with huge question marks of where all the money has gone.
 
lhdrvr said:
Thanks for clarifying. That Lambert guy is a real piece. I mean after taking a huge salary, for I think it's been over a decade running Sears Kmart into the ground, while running it from computers and video screens down on billionaire island, now his hedge fund buys it to finish running it into the ground, when there's no air left to suck out of it, he's got to be cashing in on the backend big-time somehow, it's disgusting. Sure seems like something similar is happening somewhere and YRC with it clinging to life now for going on 12 years with huge question marks of where all the money has gone.
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Money didn’t go anywhere. First a 10 percent cut to hourly wages. Then another 5 percent cut. Couple that with a loss of about 3-4 billion $$ in gross revenue over the span of 2008-2012, and paying out $60-70 million a year in interest on $2 billion in debt, and the rest is past history....
 
BIG R GUY said:
Money didn’t go anywhere. First a 10 percent cut to hourly wages. Then another 5 percent cut. Couple that with a loss of about 3-4 billion $$ in gross revenue over the span of 2008-2012, and paying out $60-70 million a year in interest on $2 billion in debt, and the rest is past history....
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That's what you say, look at Elwood's lavish life style in the Caymans!
 
lhdrvr said:
I said this something similar on another thread end of last year, that it felt like OD was staffed up and prepping for something. Sure looks like nothing at this point. But, I genuinely believe right now, if you read into what the stock market, fed and interest rates and even a little in the housing and auto markets ...lastly now the slowdown in freight, prior to election year ...may indicate we are officially entering an economic slowdown and dare I say, a possible recession starting by end of this year into all of next. I fear that could be the truth of what is on the horizon. But I hope, it prepping for something. I do think if we enter the next economic slowdown/recession we could finally see the demise of YRC, and even the demise of XPO.
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Something is bound to happen, I don't know what either, but for everyone to be this slow,
at this time of year says something.
All of the Large LTL's seemed to over play thier hand. I read a article about a month ago and it said that there's over three million vehicle loans that are over ninety days late.
Those big payments are not so easy to make
When you have to eat too!!
 
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trucknfool said:
Something is bound to happen, I don't know what either, but for everyone to be this slow,
at this time of year says something.
All of the Large LTL's seemed to over play thier hand. I read a article about a month ago and it said that there's over three million vehicle loans that are over ninety days late.
Those big payments are not so easy to make
When you have to eat too!!
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Also , as a country we are overdue for an economic downturn. We are ( statistically speaking ) at the end of the longest ( or 2nd longest ) economic expansion in history. Not a lot of attention paid to it but we're also in the midst of a trade war.

LTL is usually an indicator of bad economic headwinds.
 
Maybe Kenneth can confirm, I'm hearing word that GBO may have officially laid some off. Rumor is some p&d were offered dock and dock workers laid off.
 
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