ODFL | Old Dominion offers $1.5 billion for Yellow terminals

[Triplex]

Old Dominion Freight Line Bids $1.5 Billion for Yellow Terminals

Old Dominion Freight Line Bids $1.5 Billion for Yellow Terminals
Trucking company Old Dominion Freight Line Inc. has offered $1.5 billion to acquire Yellow Corp.’s portfolio of terminals out of bankruptcy, more than a previous offer from Estes Express Lines.

Old Dominion Freight Line Bids $1.5 Billion for Yellow Terminals

(Bloomberg) -- Trucking company Old Dominion Freight Line Inc. has offered $1.5 billion to acquire Yellow Corp.’s portfolio of terminals out of bankruptcy, more than a previous offer from Estes Express Lines.Most Read from BloombergChina Evergrande Group Files Chapter 15 Bankruptcy in New...

ca.finance.yahoo.com

 

[rugrunner]

Central freight put in a bid of 1.51 Billion and 1 year of free tolls across the Mackinac Bridge!

 

[Oddriverrr]

Does it come with overtime after 8 for OD drivers?

 

[Volnuck1]

Does it come with overtime after 8 for OD drivers?

Only if you have the intestinal fortitude to fight for it, like Yellow drivers did many years ago.

 

[Oddriverrr]

Only if you have the intestinal fortitude to fight for it, like Yellow drivers did many years ago.

Too bad it didn't work out for them.

 

[Volnuck1]

Too bad it didn't work out for them.

I agree sir. It’s hard watching 50 to 75 families have no paycheck, insurance (medical, dental, or vision) overnight. One of my buddies has oral cancer and just had major surgery on his tongue, mouth, and neck. Overnight the doors were closed and all of this good pay, wonderful insurance (paid 100% By the company) and retirement were gone. Yes the pension had been cut down 75% but many still wanted to keep their jobs. Very sad.

 

[DMT]

I agree sir. It’s hard watching 50 to 75 families have no paycheck, insurance (medical, dental, or vision) overnight. One of my buddies has oral cancer and just had major surgery on his tongue, mouth, and neck. Overnight the doors were closed and all of this good pay, wonderful insurance (paid 100% By the company) and retirement were gone. Yes the pension had been cut down 75% but many still wanted to keep their jobs. Very sad.

With this statement and with what you know (really know) did you expect this company to survive losing money every year for over a decade and with the company leadership and union membership not willing to have an HONEST conversation and the health of the company.

 

[Volnuck1]

With this statement and with what you know (really know) did you expect this company to survive losing money every year for over a decade and with the company leadership and union membership not willing to have an HONEST conversation and the health of the company.

I expected Yellow to go under in 2008 when Roadway & Yellow were forced to merge together in 3-months. It has been a ponzi scheme since then with the union (22000 dues paying members), the banks (getting millions in interest) and Yellow (staying in business). The new union president came in and wanted to play old union hardball with Yellow and they did not have the money to do that and the scheme was over.

 

[SuperCourse]

I expected Yellow to go under in 2008 when Roadway & Yellow were forced to merge together in 3-months. It has been a ponzi scheme since then with the union (22000 dues paying members), the banks (getting millions in interest) and Yellow (staying in business). The new union president came in and wanted to play old union hardball with Yellow and they did not have the money to do that and the scheme was over.

There's an old idiom, "you can't get blood from a turnip". The Boston Meat Head never heard that one I guess.

 

[rugrunner]

There's an old idiom, "you can't get blood from a turnip". The Boston Meat Head never heard that one I guess.

Upper Yellow management needed an scape goat. And they knew once Hoffa jr. was out of the picture as the yes man for them. The game was over. They could have consolidated these companies years ago to make there one yellow system.

 

[steercrazee]

Only if you have the intestinal fortitude to fight for it, like Yellow drivers did many years ago.

Not gonna happen at O.D ,Estes, X.P.O, Saii, or,A.A.A. Cooper ,Dayton Freight, or Southeastern freight, or Averitt. The union has been wounded and like a shot deer its just a matter of time before the wound becomes fatal.

 

[Volnuck1]

Not gonna happen at O.D ,Estes, X.P.O, Saii, or,A.A.A. Cooper ,Dayton Freight, or Southeastern freight, or Averitt. The union has been wounded and like a shot deer its just a matter of time before the wound becomes fatal.

The union in the freight industry is a dinosaur and nearing extinction as such. ABF & TForce are the only flag carrying carriers left. I am a different kind of Teamster. The Union was in Yellow when I was hired so I joined, paid my dues, and went to special meeting. In turn, The Union negotiated good wages, excellent insurance, and at the time, a good retirement plan. Many time the union rules protected the lazy worker (that is what made it extinct). Along with deregulation. I did my part and they did theirs and in the early years the union was rarely mentioned by Yellow employees. We did our job and Yellow was a very good place to work.

 

[steercrazee]

The union in the freight industry is a dinosaur and nearing extinction as such. ABF & TForce are the only flag carrying carriers left. I am a different kind of Teamster. The Union was in Yellow when I was hired so I joined, paid my dues, and went to special meeting. In turn, The Union negotiated good wages, excellent insurance, and at the time, a good retirement plan. Many time the union rules protected the lazy worker (that is what made it extinct). Along with deregulation. I did my part and they did theirs and in the early years the union was rarely mentioned by Yellow employees. We did our job and Yellow was a very good place to work.

The union helped out trucking no doubt. We live in a upside down backwards world at the moment and strange things happening is the new normal.