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YRC Usf

Discussion in 'YRC Freight' started by Bart, Nov 7, 2013.

  1. Bart

    Bart Well-Known Member AD-FREE USER

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    YRC paid $1.47bil for USF
    YRC owes $1.4bil to the banks
    So feel free to make an offer to spin off USF
    Put your money where your mouth is!
    YRC makes plenty of money we just have to give it all to the banks in interest
    No USF purchase no debt
     
  2. jackman12747

    jackman12747 Active Member

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    Wish they would!!
     
  3. albag

    albag Pray for peace! AD-FREE USER

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    Trouble is it wasn't worth $1.4 billion then and sure isn't now!
     
  4. jackman12747

    jackman12747 Active Member

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    Well some smart ceo thought it was?
     
  5. anotherdayanother85cents

    anotherdayanother85cents Member

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    all loans are owned by and paid for by YRCW from the profits of the companies they own.
    they do not come out of yrc
    operating cost.
    Yrc is not making a profit.
     
  6. EX396

    EX396 Well-Known Member

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    Its value was not in the assets, rather its ability to generate cash flow to support the loser....buying time.

    Buying time allowed the employees to continue to collect a paycheck. The IBT to collect dues. The BoD to collect their salaries. The banks to collect their interest.

    If they couldn't save the sinking ship in time, so be it. If they had enough time to turn it around, fantastic. USF employees were the only losers in that deal.
     
  7. Bart

    Bart Well-Known Member AD-FREE USER

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    I keep seeing all these posts about how profitable they are and we need to spin them off
    What do you think they are worth you know with all that profit they make?
     
  8. MuddleVanHeck

    MuddleVanHeck Active Member

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    I actually do hope they spin off Reddaway. When I read some of the hate and discontent from some of these irreplaceable, high-quality employees, I just want to separate so we can make a healthy go of it. BTW, Reddaway IS profitable.
     
  9. callboard lifer

    callboard lifer Active Member

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    Bingo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  10. team486

    team486 Well-Known Member

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    I been here 23 years and yrc couldn't give this dump away,trust me.
     
  11. ROADY

    ROADY Well-Known Member

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    I wouldn't say he was smart, maybe slick.:nutkick:
     
  12. albag

    albag Pray for peace! AD-FREE USER

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    What too many here won't accept is LEGACY. No one is buying into the unfunded liability. And as far as YRCF losing money it is clearly NOT the fault of its teamsters.
     
  13. roadway77

    roadway77 Well-Known Member

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    the usf purchase can be compared to the overheated housing market its not worth that for sure anymore
     
  14. Kingfishcafe

    Kingfishcafe Active Member

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    Hey at least they didn't merge you USf guys they did that to roadway and all they got for there troubles was a reduction in pay and a bunch of hostility from the working welfare constantly telling them its all there fault
     
  15. Elwood

    Elwood Question Authority

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    We got some bodaciously big shoulders!!
    We have karaoke and sing kumbaya!!!
     
  16. jimmy g

    jimmy g Kook AD-FREE USER

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    In this economy, and with their ties to the Pensions, about $1.98

    There are too many trucking companies in the USA right now. Accepting a company that has pension obligations, work rules, and older employees and old equipment- it would be cheaper to start from scratch. Not to mention all the debt, and the fact that every trucking company in the USA today is sitting, waiting on Washington to decide HealthCare, EPA Regs, Pensions, and a myriad of other Job-Killing rules.....
     
  17. jimmy g

    jimmy g Kook AD-FREE USER

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    You forgot Health insurance. Most of the guys calling for closing it up are older, many with healthcare needs (or their family does). Close it and have to pay COBRA to keep it. At a Much higher cost, if even available during ObamaCare regs..... Get dumped on the Exchanges- in twenty years, when they get the website running....
     
  18. Vbowers2624

    Vbowers2624 New Member

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    There is no way they aren't making a proffit,
     
  19. Rifraf

    Rifraf Active Member

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    How many of you guys remember the state of Reddaway when Roadway and Yellow merged. I seem to recall that they were losing so much money that nobody knew what to do with them. I guess the solution was to shift freight to them and exploit their non-union workers at the expense of Teamster jobs. Then it justifies buying them new equipment (look at the new equipment in the non-union yards and compare it to the Teamster barns) so we can still manipulate the books enough to come back to the IBT crying about not making money. Do some research and find out why they paid more than USF was really worth, see why Rogers looked like a genius there but not here, track down the accounts that Freight used to handle but the regionals now service. Gee fellas, how did the regionals start turning a profit? Reddaway is our Conway.
     
  20. blaze

    blaze Member

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    I Agree with you, Yellow overspent for USF. they should not have borrowed and paid 1.4 b for usf.
    But you will not find a single Holland employee who was happy about it.
    The employees did not want to be owned, or operated by Yellow. But that is something we had no control over, just try to make the best of the situation.
    Holland owned most of their terminals and equipment. But not no more.
    I watched yellow drivers come to our terminal and take New Holland tractors and they were re-labeled yrc or yellow.
    these tractors had 8000 miles on them.
    I could go on but wont. Not looking for a argument just stating what I've seen.
    Holland o.r. was approx. 87.0 b4 being bought. Now were at 97.0 approx.

    Point is Holland employees didn't ask for this.
    The same with Roadway,New penn, Reddaway, and the usf companies that were closed.
    The Yellow employees didn't ask for this either.

    So if they did ever separate the companies, who would survive and who would fail.
    I'm betting Holland would survive.
     

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