What's new

Holland | Pension Fund

I have a bad feeling the banks are going to tell YRC to go bankrupt to dump the pension liability just like Sears their CEO Lampert was also called a genius when he first merged Kmart and Sears just like Zollars Yellows roadway to success?
 
Jaloc said:
I have a bad feeling the banks are going to tell YRC to go bankrupt to dump the pension liability just like Sears their CEO Lampert was also called a genius when he first merged Kmart and Sears just like Zollars Yellows roadway to success?
Click to expand...

CEO at sears was a genius at real estate, he new that they both had property worth more being sold than open, he created a lot of money for investors but never tried to increase sales or the value of the brand.
YRC needs to realize Holland and New Penn know how to make money, they should eat there pride and let them run the show not YRC
 
You can call me a conspiracy theorist but I believe there is a good reason why Welch is now on the Board of Directors for Schneider they want to get into LTL and now know everything about YRC.
 
Jaloc said:
Orphans are from companies that went Bankrupt and the Union let UPS leave fund then squandering the 6 Billion it paid to get out of it.
Click to expand...
When the companies went bankrupt shouldn't the blame for them not paying their withdrawal obligations go to the federal bankruptcy laws? Didn't congress pass the laws that consider pension obligations as unsecured creditors and the banks get their money first? I believe it was Zollar who unfairly coined the term "pension orphans"............... I don't think the union could have legally stopped UPS from withdrawing from the fund. I don't think the union had anything to do with the "squandering" of the $6 billion
 
Jaloc said:
I have a bad feeling the banks are going to tell YRC to go bankrupt to dump the pension liability just like Sears their CEO Lampert was also called a genius when he first merged Kmart and Sears just like Zollars Yellows roadway to success?
Click to expand...

I sure hope this will not interfere with me living my lavish lifestyle.
 
Crystal said:
When the companies went bankrupt shouldn't the blame for them not paying their withdrawal obligations go to the federal bankruptcy laws? Didn't congress pass the laws that consider pension obligations as unsecured creditors and the banks get their money first? I believe it was Zollar who unfairly coined the term "pension orphans"............... I don't think the union could have legally stopped UPS from withdrawing from the fund. I don't think the union had anything to do with the "squandering" of the $6 billion
Click to expand...
They got the deal of a lifetime only paid around $150,000 per person around only 7yrs of full pension payments
 
Jaloc said:
I have a bad feeling the banks are going to tell YRC to go bankrupt to dump the pension liability just like Sears their CEO Lampert was also called a genius when he first merged Kmart and Sears just like Zollars Yellows roadway to success?
Click to expand...
As long as they are paying the interest I don't see it playing out that way.
 
You must log in or register to reply here.
Top