Yellow | This Company Is Not Going Out Of Business!!

Urging ratification, Tyson Johnson, director of the Teamsters’ National Freight Division, said the concessions were “difficult to accept,” but added “if this [contract] modification is rejected, there is no doubt this company will go out of business.” Johnson said the recession “continues to wreak havoc on the trucking industry and threatens our members’ jobs.”

Maybe it was Tyson?

And every analyst, news article and investor said the same thing.Its amazing they got financing the second time around.
Please check this old article out.I think you will be amazed at how close they were to closing .
https://www.counterpunch.org/2010/01/08/how-the-teamsters-beat-goldman-sachs/
 
5yrs ago they were on deaths doorstep, the company was telling everyone they were going out of business and we still pushed it to a second vote, theres been no talk of that, the companys bought thousands of tractors and trailers, theyre not going out of business on one no vote, the banks would never get they're money! Do you work for YRC?

Holland..The banks as you say or investors were getting 150 million per year in interest the first go round and were through..They were done with us.

They scrambled and found enough investors to loan them money to keep them in business for 90 million per year.

Our assets are over a billion ( I know it's shocking and our debt is 864 million .
What the lenders aren't going to do is watch this company bleed red ink and allow a bunch of disgruntled teamsters keep them from maximizing their profits.

These people would have these gates locked in a second without batting an eye.
Who are you going to listen to, the top executives at your union,
Or dock hands telling you the banks won't let them close b.s.
 
5yrs ago they were on deaths doorstep, the company was telling everyone they were going out of business and we still pushed it to a second vote, theres been no talk of that, the companys bought thousands of tractors and trailers, theyre not going out of business on one no vote, the banks would never get they're money! Do you work for YRC?
They just change the name on the Door to Reddaway,It’s that simple ,No bullshit here!!!!!!,They are not under Master freight,but they do offer a sub standard agreement.oh and did I mention the IBT will still get there dues money,Take a chance and roll the dice.
 
Per a recent comment made by a trusted trucking industry stock analyst...

"YRCW has $875M of debt. It is a mix of fixed interest rate and variable interest rate debt. It’s expensive. The floating rate debt is 11%, and the fixed rate debt is anywhere between 8.9%-17.1%, averaging closer to 13%-14%".

Per a recent comment made by a s**thouse trucking industry stock analyst on TB...

The banks will not let YRCW close...
They are a cash cow!

7152XeF.jpg



Who knows for sure when the banks will "pull the plug" ?!

:funky:
 
Per a recent comment made by a trusted trucking industry stock analyst...

"YRCW has $875M of debt. It is a mix of fixed interest rate and variable interest rate debt. It’s expensive. The floating rate debt is 11%, and the fixed rate debt is anywhere between 8.9%-17.1%, averaging closer to 13%-14%".

Per a recent comment made by a s**thouse trucking industry stock analyst on TB...

The banks will not let YRCW close...
They are a cash cow!

7152XeF.jpg



Who knows for sure when the banks will "pull the plug" ?!

:funky:
Please provide the link.
 
SUPPLEMENTAL INFORMATION: Total Debt
Debt Issue
As of December 31, 2018 Par Value Discount Costs Book Value
Term Loan $ 573.7 $ (7.8 ) $ (6.5 ) $ 559.4
ABL Facility - - - -
Secured Second A&R CDA 26.9 - (0.1 ) 26.8
Unsecured Second A&R CDA 46.7 - (0.2 ) 46.5
Lease financing obligations 242.7 - (0.5 ) 242.2
Total debt $ 890.0 $ (7.8 ) $ (7.3 ) $ 874.9

Debt Issue
As of December 31, 2017 Par Value Discount Costs Book Value
Term Loan $ 595.5 $ (10.4 ) $ (8.3 ) $ 576.8
ABL Facility - - - -
Secured Second A&R CDA 26.9 - (0.1 ) 26.8
Unsecured Second A&R CDA 48.2 - (0.3 ) 47.9
Lease financing obligations 255.5 - (0.9 ) 254.6
Total debt $ 926.1 $ (10.4 ) $ (9.6 ) $ 906.1

Our total leverage ratio for the four consecutive fiscal quarters ended December 31, 2018 was 2.64 to 1.00.

Our total leverage ratio for the four consecutive fiscal quarters ended December 31, 2017 was 3.38 to 1.00.
http://investors.yrcw.com/news-rele...eports-unaudited-fourth-quarter-and-full-year
 
And???? So several different investors split around 90 million per year in interest and they are going to allow the company to hemorrhage cash?

You think they will throw more money at a sinking ship?

I just don’t get the banks won’t let them close crap.Big business forcloses all the time.

Perfect example..400 union lines in the last 20 years.

When a business spends more than it makes they have no choice other than to cut costs and restructure.Some lenders run some take the risk..
None are in it to lose.
 
400 in 20 yrs. let's see the list.

I read it years ago but this should sum it up .
But then again total ignorance is still on full display .

For example, according to reports the union filed with the U.S. Department of Labor, from 2001 to 2002, the Teamsters lost more than 48,000 members.

Why do the Teamsters' union lose so many members? Very simply: Many of the companies the union has unionized cannot compete in a competitive market.

Take, for example, the trucking industry. In 1980, the United States Congress passed the Motor Carrier Act, which was signed into law by Democrat President Jimmy Carter.

The Motor Carrier Act deregulated interstate trucking. Government control of the trucking industry stopped and non-union competition increased. Price fixing went the way of the dinosaurs.

Deregulation of the trucking industry brought more competition because the costly process of government control of competition was eliminated. Most of the major union carriers in business prior to 1980 were not able to adapt to changes in the marketplace brought on by deregulation. Consequently, most major union carriers have gone out of business.

Below is a partial listing of Teamsters-represented companies that have gone out of business.
COMPANY
APPROX # OF
EMPLOYEES

1 P.I.E. Nationwide
17,593
2 Consolidated Freightways
15,500
3 McLean Trucking Co.
14,530
4 American Freight System
10,981
5 Spector Redball
7,610
6 Maislin Transport
6,375
7 Hall's Motor Transit
5,809
8 Interstate Motor Freight
5,536
9 Preston Trucking
5,500
10 Transcon Lines
4,817
11 Lee Way Motor Frt.
4,139
12 Wilson Freight Co.
3,754
13 Mason & Dixon Lines
3,627
14 IML Freight
3,624
15 Jones Motor Company
3,547
16 NationsWay Transport Service
3,500
17 T.I.M.E. - D.C.
3,303
18 Branch Motor Express
3,032
19 Pilot Freight Carriers
2,685
20 Johnson Motor Lines
2,515
21 Pacific Motor Trucking
2,470
22 Commercial Lovelace Mtr. Frt.
2,467
23 ICX (ILL.-Calif. Express)
2,373
24 Gordons Transports
2,163
25 ANR Advanced Transportation
2,000
26 C W Transport
1,990
27 System 99
1,962
28 Briggs Transportation
1,805
29 Motor Freight Express
1,802
30 A-P-A Transport
1,800
31 Campbell Sixty-Six
1,704
32 Murphy Motor Freight
1,578
33 Cooper Jarrett
1,532
34 Milne Truck Lines
1,497
35 Sante Fe Trails Trnptn Co.
1,483
36 Holmes Transportation
1,352
37 Jones Truck Lines
1,312
38 North Penn Transfer
1,272
39 Eazor Express
1,268
40 Hemingway Transport
1,268
41 Oneida Motor Freight
1,251
42 Chief Freight Lines
1,038
43 Boss Linco Lines
1,012
44 Midwest Emery Frt Sys
993
45 Mid-American Line
971
46 Clairmont Transfer Co
969
47 Mushroom Transportation
941
48 BN Transport, Inc.
919
49 R-W Service System
837
50 Tucker Freight
837
51 G M W (Glendenning)
828
52 B & L Motor Freight
826
53 Silver Wheel Frt Lines
818
54 Lyons Transportation Lines
813
55 United Trucking Service
796
56 AAA Trucking Corp
765
57 Salt Creek Freightways
698
58 Davidson Transfer & Stor.
697
59 Orscheln Bros. Truck Lines
660
60 Wycoff Co. (Express Co.)
650
61 Rio Grande Motor Way
648
62 Suburban Motor Freight
621
63 Brada Miller Freight
616
64 Tennessee Carolina Transport
595
65 Con-Way Eastern Express
549
66 Cleve Columbus & Cin Hwy
541
67 Central Truck Lines
502
68 Mercury Freight Lines
484
69 Tose-Fowler, Inc.
479
70 Courier-Newsom Express
475
71 Advance-United Expways
460
72 Bender & Loudon Motor Frt
450
73 Admiral Merchants Mtr Frt
445
74 Renner's Express
438
75 Steve D. Thompson Trkg.
400
76 Perkins Trucking Co.
399
77 Brown Express
386
78 Chippwa Motor Freight
382
79 Sterling Transit Co.
382
80 Wenham Transportation
380
81 Cook Motor Lines
357
82 Fowler and Williams
348
83 Express Freight Lines
344
84 GA FLA ALA Transportation Co.
338
85 Denver Midwest Mtr. Frt
320
86 Gross Common Carrier
299
87 Mercury Motor Express, Inc.
293
88 Manley Truck Line
285
89 Liberty Trucking Co
281
90 Fox and Gin, Inc.
278
91 Auclair Transportation Co.
270
92 Browning Freight Lines
265
93 Suwak Transportation
261
94 Virginia-Carolina Freight Lines
260
95 Allegheny Freight Lines
249
96 Tobler Transfer
248
97 Smith Transportation Co.
235
98 Highway Express, Inc.
228
99 Wooleyhan Transport
207
100 Dignan Trucking, Inc.
197
101 North Shore and Cent ILL Frt. Co.
195
102 Beacon Fast Freight Co.
192
103 Bowling Green Express
187
104 Peters Truck Lines
171
105 Dean Truck Line
158
106 Pulaski Highway Express
154
107 P. Callahan, Inc.
153
108 Sioux Transportation
151
109 Berman's Motor Express
148
110 Best Way Motor Freight
134
111 Nebraska-Iowa Xpress
133
112 Kains Motor Service
131
113 Graf Brothers
129
114 Maiers Motor Frt. Co.
129
115 Intercity Transportation Co.
127
116 Reinhardt Transfer Co.
119
117 Badger Freightways
105
118 William Hayes Line
105
119 Horn's Motor Express
104
120 Standard Motor Freight
102
121 American Freightways Co.
90
122 Williamson Transportation
90
123 Turner Trucking Co.
89
124 Griffith Motor Express
89
125 F & W Express
88
126 Jersey Coast Frt Lines
86
127 Sims Motor Transport
82
128 Evans Delivery Co.
59
129 Kenmore Transportation
56
130 Seaway Motor Express
55
131 C & E Trucking Corp.
50
132 R.D. Motor Express
50
133 Murfreesboro Freight Line
44
134 Red Ball, Inc.
44
135 Root's Express
44
136 Carpenters Mtr. Frt.
39
137 Waverly Transfer
34

(SOURCES INCLUDE: Information prepared by the International Brotherhood of Teamsters Economics Department Report written by Norman Weintraub, then Chief Economist of the IBT, articles from Transport Topics, and various newspaper reports.)
 
In 1980, the United States Congress passed the Motor Carrier Act, which was signed into law by Democrat President Jimmy Carter.

DEMOCRAT ruined Union trucking yet our Teamster leaders keep telling us to vote for them!
 
In 1980, the United States Congress passed the Motor Carrier Act, which was signed into law by Democrat President Jimmy Carter.

DEMOCRAT ruined Union trucking yet our Teamster leaders keep telling us to vote for them!
Motor carrier deregulation was a part of a sweeping reduction in price controls, entry controls, and collective vendor price setting in United States transportation, begun in 1970-71 with initiatives in the Richard Nixon Administration, carried out through the Gerald Ford and Jimmy Carter Administrations, and continued into the 1980s, collectively seen as a part of deregulation in the United States.

Since the passage of the Interstate Commerce Act of 1887, the federal government had regulated various transportation modes, starting with the railroad industry, and later the trucking and airline industries. Increasing public interest in deregulation led to a series of federal laws beginning in 1976 with the Railroad Revitalization and Regulatory Reform Act. The deregulation of the trucking industry began with the Motor Carrier Act of 1980, which was signed into law by President Carter on July 1, 1980.

Studies of the legislative process leading up to passage of the MCA indicate that the Act resulted from a concert of action by the Carter Administration, Congressional leaders, including Senator Ted Kennedy, an extensive coalition of "civil society" organizations which was a follow-on to coalitions created for rail and air transport regulatory reforms, and Interstate Commerce Commissioners appointed by Presidents Nixon and Carter who supported the pro-competition objectives of the legislative initiatives of 1971 to 1980 (notably A. Daniel O'Neal and Darius Gaskins).[citation needed]
 
Motor carrier deregulation was a part of a sweeping reduction in price controls, entry controls, and collective vendor price setting in United States transportation, begun in 1970-71 with initiatives in the Richard Nixon Administration, carried out through the Gerald Ford and Jimmy Carter Administrations, and continued into the 1980s, collectively seen as a part of deregulation in the United States.

Since the passage of the Interstate Commerce Act of 1887, the federal government had regulated various transportation modes, starting with the railroad industry, and later the trucking and airline industries. Increasing public interest in deregulation led to a series of federal laws beginning in 1976 with the Railroad Revitalization and Regulatory Reform Act. The deregulation of the trucking industry began with the Motor Carrier Act of 1980, which was signed into law by President Carter on July 1, 1980.

Studies of the legislative process leading up to passage of the MCA indicate that the Act resulted from a concert of action by the Carter Administration, Congressional leaders, including Senator Ted Kennedy, an extensive coalition of "civil society" organizations which was a follow-on to coalitions created for rail and air transport regulatory reforms, and Interstate Commerce Commissioners appointed by Presidents Nixon and Carter who supported the pro-competition objectives of the legislative initiatives of 1971 to 1980 (notably A. Daniel O'Neal and Darius Gaskins).[citation needed]
a lot of people getting schooled right now on this subject! You can bring a horse to water but?
 
I can’t trust the union and it’s accountants, when everyone across the board is getting contracts forced on the by threats or by political measures in a booming economic environment.

You know what is going on and what is at stake.If you still feel your convictions I respect it.
The strike of 1994 closed down 22 teamster lines.By 2003 it was the big 3.
For a minute until C.F. closed.
For me it's about keeping the doors open,realizing the health of the company and our ability to compete with non union and survive.
I must trust our leadership at the highest levels.I believe they want to keep these 30,000 families employed and are doing their best.
Rolling the dice on pure speculation could very well spell disaster for thousands of Teamsters .
 
And???? So several different investors split around 90 million per year in interest and they are going to allow the company to hemorrhage cash?

You think they will throw more money at a sinking ship?

I just don’t get the banks won’t let them close crap.Big business forcloses all the time.

Perfect example..400 union lines in the last 20 years.

When a business spends more than it makes they have no choice other than to cut costs and restructure.Some lenders run some take the risk..
None are in it to lose.
In 1980, the United States Congress passed the Motor Carrier Act, which was signed into law by Democrat President Jimmy Carter.

DEMOCRAT ruined Union trucking yet our Teamster leaders keep telling us to vote for them!
so ,what the bill was sponsored by a Kennedy,I guess it was a pay back,It’s water under the bridge,Stop crying and move on.Your boy,Hasn’t done ::shit:: for organized,labor,They court the working mans vote ,but do nothing to change legislation to help us
 
so ,what the bill was sponsored by a Kennedy,I guess it was a pay back,It’s water under the bridge,Stop crying and move on.Your boy,Hasn’t done :::shit::: for organized,labor,They court the working mans vote ,but do nothing to change legislation to help us

Why did you copy me in on this.
I've had nothing to do with that conversation.
 
And???? So several different investors split around 90 million per year in interest and they are going to allow the company to hemorrhage cash?

You think they will throw more money at a sinking ship?

I just don’t get the banks won’t let them close crap.Big business forcloses all the time.

Perfect example..400 union lines in the last 20 years.

When a business spends more than it makes they have no choice other than to cut costs and restructure.Some lenders run some take the risk..
None are in it to lose.

Lets go back 30 yrs, just to make sure I'm counted.
PIE closed in 1990, they also acquired Transcon before folding.
 
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