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Yellow | Sarah Amico withdraws bid to restart Yellow

R

Real Teamster

TB Veteran
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Well folks, the word came out this morning from the Wall Street Journal that the bid by Sarah Amico and her group to restart Yellow in limited form is officially "dead" I am not at all surprised by this, and hope you aren't either. Many, many people feel that this was nothing more than a "dog-and-pony" show trying to save face for the IBT. We're all entitled to our opinion on that.
Bottom line: the auctions will continue, the legal wrangling will continue, the lying, cheating and stealing will continue, and all of us who busted our tails trying to help this company thrive are left "holding the bag". Happy Tax Day!
 
Real Teamster said:
Well folks, the word came out this morning from the Wall Street Journal that the bid by Sarah Amico and her group to restart Yellow in limited form is officially "dead" I am not at all surprised by this, and hope you aren't either. Many, many people feel that this was nothing more than a "dog-and-pony" show trying to save face for the IBT. We're all entitled to our opinion on that.
Bottom line: the auctions will continue, the legal wrangling will continue, the lying, cheating and stealing will continue, and all of us who busted our tails trying to help this company thrive are left "holding the bag". Happy Tax Day!
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I think the original offer was real...why not, if you could purchase all the terminals and rolling stock for 2 billion....then you sell what you don't need, you could operate with little investment....although I did always believe it was a long shot...
 
I hate to say I told you so..
But I told you so...

This was nothing more than a headfake to distract attention from the colossal failure on the teamster leaderships part.

No surprise at all
 
Real Teamster said:
Did you get that from a Powerball salesman?
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Nope, just common sense....if Next Century had gotten everything for less than 2 billion total, sell the excess terminals for close to a billion....be all in with a national carrier for about a billion it would have happened....I doubted the offer would be accepted because Yellow was worth a lot more parting it out...
 
Yeah, it seems like every time a big business goes under there is always some company like this with big plans to save the day.

It never happens! 🤔
 
Real Teamster said:
Well folks, the word came out this morning from the Wall Street Journal that the bid by Sarah Amico and her group to restart Yellow in limited form is officially "dead" I am not at all surprised by this, and hope you aren't either. Many, many people feel that this was nothing more than a "dog-and-pony" show trying to save face for the IBT. We're all entitled to our opinion on that.
Bottom line: the auctions will continue, the legal wrangling will continue, the lying, cheating and stealing will continue, and all of us who busted our tails trying to help this company thrive are left "holding the bag". Happy Tax Day!
Click to expand...
Here is a link to the WSJ article.
 
ABF381 said:
Nope, just common sense....if Next Century had gotten everything for less than 2 billion total, sell the excess terminals for close to a billion....be all in with a national carrier for about a billion it would have happened....I doubted the offer would be accepted because Yellow was worth a lot more parting it out...
Click to expand...
Yellow's final job was to get as much for the property & equipment as possible not to offer a good deal to a fake company.
Amico had NO customers, not even a sales force to begin to gather up cheap freight most importantly they had no plan to fill a nationwide LTL network????
Any industry follower could see this was a scam to divert attention away from the failure of the teamsters
I feel bad for the people that bought into this scam who truly believed this could save them
Not sure why the unions would give these workers who just lost their jobs such false hope???
 
Puff Driver said:
Yellow's final job was to get as much for the property & equipment as possible not to offer a good deal to a fake company.
Amico had NO customers, not even a sales force to begin to gather up cheap freight most importantly they had no plan to fill a nationwide LTL network????
Any industry follower could see this was a scam to divert attention away from the failure of the teamsters
I feel bad for the people that bought into this scam who truly believed this could save them
Not sure why the unions would give these workers who just lost their jobs such false hope???
Click to expand...
Agreed about it being Yellow's duty to get the most, but I don't think it was a "fake" company....they put a lot of time and money to get financing in place and have a plan....you don't know if they had any plans, just a guess on your part....I think they must have had a plan since they did say they had financing arranged....why would Sarah care about diverting attention? Why would the Teamsters care about diverting attention away from a company that went under with more than a billion in debt, unable to pay the Cares Act Loan coming due, and not paying health insurance for their workers? How would this make anyone happy?
 
Puff Driver said:
I hate to say I told you so..
But I told you so...

This was nothing more than a headfake to distract attention from the colossal failure on the teamster leaderships part.

No surprise at all
Click to expand...
No, you don't hate to tell so.

The executives at yellow caused this collapse. The teamsters do not run the company . This started with mergers and acquisitions that yellow could not afford. The banks were happy to give them the money.
For 15 years yellow lingered on the verge of collapse. It would have happened sooner it the teamsters didn't take massive cuts to their salaries and benefits.
new penn, roadway and Holland would all still be in business if it wasn't for yellow freight executives.
 
Puff Driver said:
Yellow's final job was to get as much for the property & equipment as possible not to offer a good deal to a fake company.
Amico had NO customers, not even a sales force to begin to gather up cheap freight most importantly they had no plan to fill a nationwide LTL network????
Any industry follower could see this was a scam to divert attention away from the failure of the teamsters
I feel bad for the people that bought into this scam who truly believed this could save them
Not sure why the unions would give these workers who just lost their jobs such false hope???
Click to expand...
You must have misplaced your aluminum foil hat. I cannot think of any other reason you would post such PROFOUND BS. :duh: :732:
 
Puff Driver said:
Yellow's final job was to get as much for the property & equipment as possible not to offer a good deal to a fake company.
Amico had NO customers, not even a sales force to begin to gather up cheap freight most importantly they had no plan to fill a nationwide LTL network????
Any industry follower could see this was a scam to divert attention away from the failure of the teamsters
I feel bad for the people that bought into this scam who truly believed this could save them
Not sure why the unions would give these workers who just lost their jobs such false hope???
Click to expand...
If it was fake as you claim, why would they bother setting up a corporation as they did in Delaware? Whey spend the money on lawyers to do so? They could have just been a gas bag like……… well, you know who.
 
dokman said:
If it was fake as you claim, why would they bother setting up a corporation as they did in Delaware? Whey spend the money on lawyers to do so? They could have just been a gas bag like……… well, you know who.
Click to expand...
Exactly my thoughts....spend money and time on all this to help out an organization you don't like.....tin foil hats for anybody that believes that...
 
Triplex said:
It seems to me the selling off of Yellow piecemeal was bound to bring in more than Amico was offering. In the end I'm guessing that was the deciding factor.
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Unfortunately with the money some of the equipment is bringing not to mention the commissions that are being charged it makes you wonder. Remember Yellow has a history of poor decisions when it comes to finances. Far too often history repeats itself.
 
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