yankee clipper
Member
company going too far let the game begin.
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russian roulette
- Thread starter yankee clipper
- Start date
Company not calling the shots. Too Late; the Banks are calling our Bluff, and they have all the High Cards.
What do the banks get if they close us down??
If nothing else-- Resolvement of the issue. They appear to have not been paid for quite a few years. How patient can anyone actually be? Tax-Write-offs, trying to sell the worthless equipment (might be a good time to buy trailers for not much-- take them straight to the scrap-yard?)......Yellow and Roadway merging and buying Holland was meant to eventually save the Pension. With the Economy crashing at the same time though, it actually brought it down faster. Same as Soc Security. All Ponzi Schemes. Gotta keep replacing the payers so the payees can collect. Teamsters haven't replaced the payers since the early 70s. As companies keep closing, more and more retire until the fund is depleted.....
paininda
Active Member
Wrench97
Well-Known Member
I doubt they need the big write off currently.
The problem is they will not issue any more credit, since the shippers pay in 30- 60 days the freight delivered this week will not be payed for until late December early January. Since the banks are collecting the checks if they don't release any money then there is no payroll money for next week. How long are you going to work without a check...............hence the company shuts down the banks don't take the blame since they did not foreclose just held on to money already owed to them, without working capital to make payroll, buy fuel we're finished.
The problem is they will not issue any more credit, since the shippers pay in 30- 60 days the freight delivered this week will not be payed for until late December early January. Since the banks are collecting the checks if they don't release any money then there is no payroll money for next week. How long are you going to work without a check...............hence the company shuts down the banks don't take the blame since they did not foreclose just held on to money already owed to them, without working capital to make payroll, buy fuel we're finished.
yankee clipper
Member
By law they need money to make payroll then they can shutter down .