Yellow | New Bidder Aims to Save Bankrupt Trucking Firm, if Creditors Go Along

[Freightmaster1]

New Bidder Aims to Save Bankrupt Trucking Firm, if Creditors Go Along

The plan would put Yellow back on the road with thousands of unionized drivers, but would force the government to wait longer for a loan repayment.

www.nytimes.com

 

[Sperg]

After giving 160Billion to Ukraine, they can wait!

 

[ScotchNeat]

I find myself wondering if the enthusiasm out there to revive Yellow would still exist if Yellow had been a union-free company.

 

[Triplex]

I find myself wondering if the enthusiasm out there to revive Yellow would still exist if Yellow had been a union-free company.

If Yellow had been union-free they probably could have made the changes they wanted and still be operating. Who knows for sure?

 

[ABF381]

If Yellow had been union-free they probably could have made the changes they wanted and still be operating. Who knows for sure?

You are likely right......along with a bigger pay cut, insurance copays, and no pension....but management wouldn't forgo the bonuses, I mean after all they would have "saved" the company...

 

[wongway]

Government wants some $$$$$$ back and if I remember right they got some worthless stock shares too and profits from a Toll bridge in Iowa too !! And why not give a new investor millions more after all we give millions to other peoples wars !! Plus Taxpayers got mo-money to give !!

 

[Triplex]

You are likely right......along with a bigger pay cut, insurance copays, and no pension....but management wouldn't forgo the bonuses, I mean after all they would have "saved" the company...

But no matter what, shouldn't the decision to accept or reject those conditions be made by the affected employees and not by some union official who still has his job? We do still live in a democratic (small "d") country don't we?

 

[OnPoint44]

Forgive my ignorance here but why was the bid submitted to Yellow Management and not to the bankruptcy judge ? Who is the current Yellow management, Hawkins & Co ?

 

[mufungo]

i smelll bonuses for the big boyz, and a prison **** for everybody else

 

[Triplex]

i smelll bonuses for the big boyz, and a prison **** for everybody else

I would suggest a good otolaryngologist.

 

[seabreeze]

I would suggest a good otolaryngologist.

Do they work on catalytic converters or condensers?

 

[ABF381]

But no matter what, shouldn't the decision to accept or reject those conditions be made by the affected employees and not by some union official who still has his job? We do still live in a democratic (small "d") country don't we?

I'm going to be totally honest here....I can see both sides....I definitely see your point, but I see O'Brien's stance...Yellow probably should have sat down to begin with, rather than submit a letter of agreement with no negotiations....if I remember right they submitted this letter a couple months before closure....they were burning cash, they should have started this process far sooner...

 

[Triplex]

I'm going to be totally honest here....I can see both sides....I definitely see your point, but I see O'Brien's stance...Yellow probably should have sat down to begin with, rather than submit a letter of agreement with no negotiations....if I remember right they submitted this letter a couple months before closure....they were burning cash, they should have started this process far sooner...

In the end O'Brien could have said "I don't approve of these changes" (or something similar) "but I'll let the Yellow employees decide for themselves." He saves face showing his disapproval but allows for a democratic decision by those directly affected. Just my own opinion, slam away.

 

[Triplex]

Do they work on catalytic converters or condensers?

Only if they pass the smell test.

 

[Real Teamster]

In the end O'Brien could have said "I don't approve of these changes" (or something similar) "but I'll let the Yellow employees decide for themselves." He saves face showing his disapproval but allows for a democratic decision by those directly affected. Just my own opinion, slam away.

As you are well aware from our previous discussions of this topic, that is a profound statement dripping with relevance and accuracy.

 

[ABF381]

In the end O'Brien could have said "I don't approve of these changes" (or something similar) "but I'll let the Yellow employees decide for themselves." He saves face showing his disapproval but allows for a democratic decision by those directly affected. Just my own opinion, slam away.

Brother, no slamming from me...I don't know that I totally agree with you, but you make valid points.....

 

[wongway]

But no matter what, shouldn't the decision to accept or reject those conditions be made by the affected employees and not by some union official who still has his job? We do still live in a democratic (small "d") country don't we?

49 States are , Iowa Identify as a INDEPENDENT SOVEREIGN MOLDOVA STATE , with lower Taxes and less Welfare !!

 

[Steward of the Rock]

But no matter what, shouldn't the decision to accept or reject those conditions be made by the affected employees and not by some union official who still has his job? We do still live in a democratic (small "d") country don't we?

The Phase 2 COO’s proposed by Hawkins violated the current contract.
Therefore, it could not be presented to the membership as proposed.
The correct procedures must be followed to prevent bringing reproach upon the Teamsters. O’Brien was simply following procedure.

 

[SuperCourse]

The Phase 2 COO’s proposed by Hawkins violated the current contract.
Therefore, it could not be presented to the membership as proposed.
The correct procedures must be followed to prevent bringing reproach upon the Teamsters. O’Brien was simply following procedure.

OH MY SWEET JEEBUS!

 

[Linehaul3Life]

Forgive my ignorance here but why was the bid submitted to Yellow Management and not to the bankruptcy judge ? Who is the current Yellow management, Hawkins & Co ?

The bankruptcy court controls everything now, no idea why it was submitted to Yellow directly. It's a waste of time, Financials on tbis would be buyer are too weak