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YRC The Ltl "oligopoly" Drives On

Discussion in 'YRC Freight' started by Freightmaster1, Aug 15, 2019.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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  2. wongway

    wongway Cayman Island Bank 15% Xmas Club Director

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    If Old Dominion can make money while paying there driver's over $30 bucks a hour , why can't yrcw make money while paying us about $7 bucks hour less ?? Maybe we need new Synergy ways of moving freight ?? and maybe some better educated people making decisions ??
     
    tqrench52 likes this.
  3. Freightmaster1

    Freightmaster1 Well-Known Member

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    [​IMG]
    We hear you loud and clear wongway! Big changes coming soon! Stay tuned!

    As at any holding company, YRCW will be intentional in expanding revenue across the individual brands, but also in achieving the efficiencies available by having the companies work in closer coordination. We have identified approximately 25 service centers for consolidation by the end of December 2019, bringing our projected service centers to approximately 360 by the end of the year. And we believe this just scratches the surface. The disposition of these owned and leased properties in the near term are expected to generate additional cash proceeds of approximately $25 million by early 2020.

    As this opportunity is repeated throughout our network, we will build density by reducing miles, gain efficiencies with our equipment, while also reducing our burden on continued capital investment needs and improve our service to customers. The potential of rapidly benefiting from network, equipment and resource efficiencies, at the same time, we are expanding our customer value proposition is an exciting opportunity for YRCW.
    :chairshot:
     
  4. Wrench97

    Wrench97 Well-Known Member

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    In other words the only way they can make money is by selling off what they own ....again.........20m is sales will turn out to be a $100 gain...................
     
  5. Elwood

    Elwood Question Authority

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    The turnip appears severely dehydrated.
     
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  6. realityofitall

    realityofitall Well-Known Member

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    No business has ever cut there way to profit. It's all down hill from here. Look for a coo or mou as stated in these threads about yrc they need 40k shipments a day to make a go of it to pay for the raises. Yesterday's 800 point drop in the market is telling you the economy is on the decline. YRC has no options other than layoffs and terminal closings if things keep going south. No bank will give them a life line with financials in the toilet and being worth less than 90 million with the outstanding shares of stock.
     
  7. Jaloc

    Jaloc Well-Known Member

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    Whispers of a MOU on the health insurance you are going to have to pay for spouse and dependents ?
     
  8. realityofitall

    realityofitall Well-Known Member

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    It's a 30k a year policy for each person in upstate ny. Lots of $$$ Saia has insurance for $12 a week
     
  9. BIG R GUY

    BIG R GUY Volvo designated mirror technician

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  10. Wrench97

    Wrench97 Well-Known Member

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    Why a MOU? The contract specifies a set $ amount to the Teamsters H&W fund not who they cover or for what amounts.
     
  11. realityofitall

    realityofitall Well-Known Member

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    Apparently you can't read a financial statement. Near 30 million dollar loss in 2nd qtr and the consolidating of company terminals is a nice way of saying they are broke.
     
  12. Rodeo

    Rodeo Well-Known Member

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    He'll it's been doom and gloom for nearly 10 years am about use to it!
     
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  13. realityofitall

    realityofitall Well-Known Member

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    Glad you are because many of us have obligations and we are in a blackout with information on the consolidating of terminals. I hear that new penn will be gone as will Holland and it's all going to be yrc. New penn is already selling yrc out of our building.
     
    Jaloc likes this.

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