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Yellow | Woah, legal docket #1397 inadvertently released some critical info & early sales numbers tonight!

H

Hotboy Ice

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Terreno Dell LLC, the lessor/owner of a medium-sized Yellow Corporation freight terminal with roughly 70 shipping doors (located at 700 Dell Road, Carlstadt, New Jersey...just minutes away from MetLife Stadium), offered Yellow a $14.6 Million bid to purchase the Lease at this one location - amazing.

Given this much higher than expected offer, if the remaining 146 leased real estate locations throughout North America sell at auction (final day scheduled for tomorrow / Dec 19th) for an average of *just 45%* of this particular sales number...the combined profit that Yellow Corp will receive from this block of properties is over $973M! If the valuation trend holds true (on average), my numbers estimate in the original post below will have been MANY hundreds of $$ Millions too low. This development is exceedingly positive, we should know more soon.
 
Iceman25 said:
Terreno Dell LLC, the lessor/owner of a medium-sized Yellow Corporation freight terminal with roughly 70 shipping doors (located at 700 Dell Road, Carlstadt, New Jersey...just minutes away from MetLife Stadium), offered Yellow a $14.6 Million bid to purchase the Lease at this one location - amazing.

Given this much higher than expected offer, if the remaining 146 leased real estate locations throughout North America sell at auction (final day scheduled for tomorrow / Dec 19th) for an average of *just 45%* of this particular sales number...the combined profit that Yellow Corp will receive from this block of properties is over $973M! If the valuation trend holds true (on average), my numbers estimate in the original post below will have been MANY hundreds of $$ Millions too low. This development is exceedingly positive, we should know more soon.
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Exceedingly positive for who?
 
Iceman25 said:
Terreno Dell LLC, the lessor/owner of a medium-sized Yellow Corporation freight terminal with roughly 70 shipping doors (located at 700 Dell Road, Carlstadt, New Jersey...just minutes away from MetLife Stadium), offered Yellow a $14.6 Million bid to purchase the Lease at this one location - amazing.

Given this much higher than expected offer, if the remaining 146 leased real estate locations throughout North America sell at auction (final day scheduled for tomorrow / Dec 19th) for an average of *just 45%* of this particular sales number...the combined profit that Yellow Corp will receive from this block of properties is over $973M! If the valuation trend holds true (on average), my numbers estimate in the original post below will have been MANY hundreds of $$ Millions too low. This development is exceedingly positive, we should know more soon.
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Maybe the Giants and Jets are moving there?
 
victor93 said:
The Giants are being sued for impersonating a pro football team
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new york giants football GIF
 
Iceman25 said:
Terreno Dell LLC, the lessor/owner of a medium-sized Yellow Corporation freight terminal with roughly 70 shipping doors (located at 700 Dell Road, Carlstadt, New Jersey...just minutes away from MetLife Stadium), offered Yellow a $14.6 Million bid to purchase the Lease at this one location - amazing.

Given this much higher than expected offer, if the remaining 146 leased real estate locations throughout North America sell at auction (final day scheduled for tomorrow / Dec 19th) for an average of *just 45%* of this particular sales number...the combined profit that Yellow Corp will receive from this block of properties is over $973M! If the valuation trend holds true (on average), my numbers estimate in the original post below will have been MANY hundreds of $$ Millions too low. This development is exceedingly positive, we should know more soon.
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Ice, I read this docket. Fact is, Terreno Dell is OBJECTING to the sale format. Since they are the landlord, they are essentially canceling their own lease. There could be lots of reasons for this: 1) They are subject to a sublet clause that they don't like. 2) They may have another lessee in the wings on terms more favorable to them. 3) They may have a BUYER for the property in the wings. Hard to say for sure, but something is blowing in the wind on this.
 
Real Teamster said:
Ice, I read this docket. Fact is, Terreno Dell is OBJECTING to the sale format. Since they are the landlord, they are essentially canceling their own lease. There could be lots of reasons for this: 1) They are subject to a sublet clause that they don't like. 2) They may have another lessee in the wings on terms more favorable to them. 3) They may have a BUYER for the property in the wings. Hard to say for sure, but something is blowing in the wind on this.
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Or...they're worried that on the final day of the lease auction (Today), their current bid will be surpassed by other buyers. The auction has been going since 10am. Take notice how they're the ONLY company (of 147 up for sale) who has objected.
 
slavenomore said:
Exceedingly positive for who?
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The pension funds.....ones that Yellow owes money to for withdrawal....Yellow's lawyers argued they don't owe anything, but there are two problems with that...one, not all funds took money from Butch Lewis Act....two, for those funds that did take the money, the act clearly says that it wasn't passed to make it easier or cheaper to withdraw...I think the government should get back the withdrawal money from any company that can pay it
 
TC1 said:
This guy is trying to pump the stock. It's the only reason why he's here. On another forum he'll talk out the other side of his mouth 🤥. I give him an "A" for effort though.
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If getting the word out of Yellow's Chapter 11 proceedings/updates and it's (highly valued assets) investment opportunity are considered "pumping", then guilty as charged. As stated before, I'm an investor with much knowledge of LTL/freight companies. Former and current drivers aren't the only ones on these forums! This is a major national story, hence the constant discussion on here and in other places - even though logistics operations at Yellow Corporation ended almost 5 months ago.
 
ABF381 said:
The pension funds.....ones that Yellow owes money to for withdrawal....Yellow's lawyers argued they don't owe anything, but there are two problems with that...one, not all funds took money from Butch Lewis Act....two, for those funds that did take the money, the act clearly says that it wasn't passed to make it easier or cheaper to withdraw...I think the government should get back the withdrawal money from any company that can pay it
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In the end, the Central States Pension Fund will receive somewhere between $0 and $100 Million. The facts are there and Yellow's legal team has a strong case against a (laughable) "initial claim" of over $5B.
 
Iceman25 said:
In the end, the Central States Pension Fund will receive somewhere between $0 and $100 Million. The facts are there and Yellow's legal team has a strong case against a (laughable) "initial claim" of over $5B.
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They will get more than zero, a lot more....there are many funds Yellow will owe....i wrote about the Butch Lewis act a few months ago, as far as the companies not being able to walk away with no liability, I would dig it up and post it, but I'm a working man on lunch so I dont have time....
 
ABF381 said:
They will get more than zero, a lot more....there are many funds Yellow will owe....i wrote about the Butch Lewis act a few months ago, as far as the companies not being able to walk away with no liability, I would dig it up and post it, but I'm a working man on lunch so I dont have time....
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But if you skip lunch, and drive 70 mph, you can get done 3 minutes earlier today, not get caught in that crappy Rochester traffic, and eat dinner with your flower for a change.
 
Iceman25 said:
If getting the word out of Yellow's Chapter 11 proceedings/updates and it's (highly valued assets) investment opportunity are considered "pumping", then guilty as charged. As stated before, I'm an investor with much knowledge of LTL/freight companies. Former and current drivers aren't the only ones on these forums! This is a major national story, hence the constant discussion on here and in other places - even though logistics operations at Yellow Corporation ended almost 5 months ago.
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A major national story?
If you asked 100 random people about this story, you would be lucky if 1 has heard of yellow or its bankruptcy.
 
Iceman25 said:
In the end, the Central States Pension Fund will receive somewhere between $0 and $100 Million. The facts are there and Yellow's legal team has a strong case against a (laughable) "initial claim" of over $5B.
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Most of the following came directly from the PBGC. These are rules for withdrawal from any plan that got SFA (Butch Lewis funding)...PBGC adopted these rules to "ensure that SFA funds do not subsidize employer withdrawals."
The final rule places a new condition on SFA recipients, requiring phased recognition of SFA as a plan asset for purposes of withdrawal liability calculations. This condition requires that an additional portion of SFA be recognized each year until the full amount is recognized. All SFA will be fully recognized as a plan asset for withdrawal liability purposes within 10 years of the plan’s receipt of the SFA.

Settlement of Withdrawal Liability​

An additional condition related to withdrawal liability is under § 4262.16(h) and requires that any settlement of withdrawal liability during the SFA coverage period must be made only with PBGC approval if the present value of the liability settled is greater than $50 million (calculated as described under § 4262.16(h)(1)). Approval ensures that any negotiated settlements of material size are in the best interests of the participants in the plan and do not create an unreasonable risk of loss to PBGC. One commenter stated that requiring approval of transactions over $50 million is a reasonable application of PBGC's oversight authority. PBGC did not make any changes to this provision in the final rule.
So I have a feeling this might turn into a real battle for money since Yellow's value is higher than expected, and the law looks to be on the funds side.
 
Iceman25 said:
If getting the word out of Yellow's Chapter 11 proceedings/updates and it's (highly valued assets) investment opportunity are considered "pumping", then guilty as charged. As stated before, I'm an investor with much knowledge of LTL/freight companies. Former and current drivers aren't the only ones on these forums! This is a major national story, hence the constant discussion on here and in other places - even though logistics operations at Yellow Corporation ended almost 5 months ago.
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Oh...scavengers and humgry people who get rich without ever even knowing anything about trucks or skids or forklifts or docks or the hours and bullshit involved.
The ones who want nothing less than us all working 24/7/365 until we're 80, for nothing so they can by their 2nd vacation home.
The entitlement crowd .

So much more important than the people who live it.
 
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