After thinking over the proposal, I have come to the following conclusion: YRCW is to die! Period. But how is Overland Park going to pull it off? They could declare bankruptcy, but that would put the blame squarely on YRCW. Or, they can blame the IBT, the greedy SOB's. Zoellars tried this before, and almost pulled it off. The last minute, Hoffa saved it. This is what Z did not want! After all, YRCW know they have no way to pay off the loans. But YRCW cannot blame themselves, and they sure aren't going to blame the banks. After all, they might need them in their future endeavors. Again, gotta blame the Teamsters.
We learned a few years ago that the insurance on the bad stock is worth is worth more than the stock itself. What Hoffa did was threaten the lenders with bad PR to quiet them. However, the lenders are getting restless again. IMHO, Hoffa is tired of having to save their sorry butts, and who can blame him. Hoffa is trying to make sure that the IBT doesn't get the bad rep that the Bakers got when Hostess closed up. (The similarities abound!)
So we get this sorry POS for an agreement. 100% one sided, with no recommendation either way from IBT. Remember that the IBT endorsed the UPS and ABF deals, and worked hard to get them passed.
Kudos to Welch!
He has said in the past that he hated the Z man. Well he has topped him. Welch will go back to Roadrunner an American hero. Pierson will get his $$, after all, in corporate BK's, they always get their bonuses. Hoffa will take the hit, but that will only last a few weeks. People and the press have short attention spans.
If this happens, the rank and file have nothing to hang their collective heads low about. We kept this company going way longer than YRCW wanted. It is meant to be!
We learned a few years ago that the insurance on the bad stock is worth is worth more than the stock itself. What Hoffa did was threaten the lenders with bad PR to quiet them. However, the lenders are getting restless again. IMHO, Hoffa is tired of having to save their sorry butts, and who can blame him. Hoffa is trying to make sure that the IBT doesn't get the bad rep that the Bakers got when Hostess closed up. (The similarities abound!)
So we get this sorry POS for an agreement. 100% one sided, with no recommendation either way from IBT. Remember that the IBT endorsed the UPS and ABF deals, and worked hard to get them passed.
Kudos to Welch!
He has said in the past that he hated the Z man. Well he has topped him. Welch will go back to Roadrunner an American hero. Pierson will get his $$, after all, in corporate BK's, they always get their bonuses. Hoffa will take the hit, but that will only last a few weeks. People and the press have short attention spans.
If this happens, the rank and file have nothing to hang their collective heads low about. We kept this company going way longer than YRCW wanted. It is meant to be!
