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R-14Driver

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An industrial property at 2000 S.E. Rice Road is up for auction, according to an announcement made Monday.

Chicago-based NRC Realty & Capital Advisors, LLC, said in a news release that it had been retained to auction off the property by Overland Park-based YRC Worldwide Inc., a provider of transportation and global logistics services.

Shawnee County appraisal records list the property’s owner as Akron, Ohio-based Yellow Freight Systems and its value at $461,700.

Monday’s news release said the property includes a 22-door cross dock terminal and is located on a 10.76-acre site, with 1,750 square feet of office space and 9,030 square feet of dock area.

The Topeka property is part of a larger sale of 61 sites located primarily in the southeast and Midwest, according to Monday’s release.

It quoted Jamie Pierson, chief financial officer of YRC Worldwide, as saying: “Our vacant sites are currently a liability with substantial holding cost, maintenance and real estate taxes. We have chosen the auction process to monetize these properties and turn a liability into an asset which can be quickly reinvested in our business. Some of these sites have been on the market for over three years, and YRC Worldwide is marking them down to sell.”............................

Yellow Freight property up for auction | CJOnline.com
 
The 61 terminals YRCW has for sale. They throw away well more than a million $$$ in property taxes. This company hemorrhages more money than any company than I know.
 
R-14Driver said:
An industrial property at 2000 S.E. Rice Road is up for auction, according to an announcement made Monday.

Chicago-based NRC Realty & Capital Advisors, LLC, said in a news release that it had been retained to auction off the property by Overland Park-based YRC Worldwide Inc., a provider of transportation and global logistics services.

Shawnee County appraisal records list the property’s owner as Akron, Ohio-based Yellow Freight Systems and its value at $461,700.

Monday’s news release said the property includes a 22-door cross dock terminal and is located on a 10.76-acre site, with 1,750 square feet of office space and 9,030 square feet of dock area.

The Topeka property is part of a larger sale of 61 sites located primarily in the southeast and Midwest, according to Monday’s release.


Here is a map from the auctioneer's site that shows a balloon of each location that you can click on and get the address.

NRC Sale 1120
Click to expand...
 
how many of these properties were put up for collateral toward moneys owed to the union and our back pension?
 
longblade said:
how many of these properties were put up for collateral toward moneys owed to the union and our back pension?
Click to expand...
I had assumed that was a moot point now anyway.......We are paying that back ourselves at a rate of 25 % I thought.
 
the topeka property had a for sale sign on the fence within a couple a weeks after you guys shut down the topeka term early last year. its still used as a drop yard for your trailers.
 
The property as most of the trucks were held as collateral by the banks, with the last stock give away and agreements to defer any payments to 2015 all were released.
2015 is shaping up to be a bad year....................pension goes back to 100%, contract up, balloon payments due might as well start the rumors flying now..................
 
First of all they cannot sell a property that has a lean on it held by a bank or a pension fund without first satisfying that lean. How many of those properties are being auctioned off "absolutely", which means best offer with no reserve? That is the only way these places will be sold off. The tax bills are more than the properties are worth and YRC would be better off just letting the friggin' sheriff have them. At least unloading them would be some headway in the storm.
 
I'm going to show my age here a bit but when I saw the heading on this thread an old saying or whatever popped into my head,

Smarty Smarty(yrc)had a party(auction), nobody came,

Smarty Smarty had another party, nobody came!:biglaugh:
 
turboj said:
I'm going to show my age here a bit but when I saw the heading on this thread an old saying or whatever popped into my head,

Smarty Smarty(yrc)had a party(auction), nobody came,

Smarty Smarty had another party, nobody came!:biglaugh:
Click to expand...
Tsk tsk tsk, your realism has some people pissed.
 
ABFer said:
Tsk tsk tsk, your realism has some people pissed.
Click to expand...


Say its not so joe, I mean jay-c, i mean ilickit, I mean I can't keep track anymore!!!!!! Its like which COOs are we talking about!
 
R-14Driver said:
An industrial property at 2000 S.E. Rice Road is up for auction, according to an announcement made Monday.

Chicago-based NRC Realty & Capital Advisors, LLC, said in a news release that it had been retained to auction off the property by Overland Park-based YRC Worldwide Inc., a provider of transportation and global logistics services.

Shawnee County appraisal records list the property’s owner as Akron, Ohio-based Yellow Freight Systems and its value at $461,700.



It quoted Jamie Pierson, chief financial officer of YRC Worldwide, as saying: “Our vacant sites are currently a liability with substantial holding cost, maintenance and real estate taxes. We have chosen the auction process to monetize these properties and turn a liability into an asset which can be quickly reinvested in our business. Some of these sites have been on the market for over three years, and YRC Worldwide is marking them down to sell.”............................

Yellow Freight property up for auction
Click to expand...
So according to this article. Yellow freight systems still exist huh?
 
What does it matter?are you interested in buying the listed property?or is this thread trying to convey that we are being duped?I'm sure there has been property from Roadway and Yellow laying around all over the place unused.plus assets we don't even know about.
If I remember correctly.the terminal in Barstow Ca is still owned by yrcw.there is adjacent property that has Mcdonalds and a motel on it.both were or is on a long term lease deal.I'm not for sure.but I was told about it years ago
 
Wrench97 said:
The property as most of the trucks were held as collateral by the banks, with the last stock give away and agreements to defer any payments to 2015 all were released.
2015 is shaping up to be a bad year....................pension goes back to 100%, contract up, balloon payments due might as well start the rumors flying now..................
Click to expand...
please show me where the teamsters have released yrc from those moneys owed from the time they stopped paying until the mou went into affect. since thats what the leins for .
 
bigtruk_us said:
What does it matter?are you interested in buying the listed property?or is this thread trying to convey that we are being duped?I'm sure there has been property from Roadway and Yellow laying around all over the place unused.plus assets we don't even know about.
If I remember correctly.the terminal in Barstow Ca is still owned by yrcw.there is adjacent property that has Mcdonalds and a motel on it.both were or is on a long term lease deal.I'm not for sure.but I was told about it years ago
Click to expand...
I"m not sure if you were replying to my comment so forgive me in advance if I took it to be a reply to my comment. The reason I said that was to raise the question of hiding assets.And no I am NOT hoping, wishing, etc. for Yellow freight systems to still exist or re exist. Having hopefully made that clear. When I worked for CF. I watched them fully fund & form a little company known as Con-Way.(Con is a perfect name btw.). By the time it was all said & done Con-Way became the parent corporation & CF was spun off, laden with debt from the illegal business practices used. That was the reason for bringing it to the boards attention& hopefully someone with a lot more brains & means can do something about it. This is the time to act, not after they do it & the ink is dry & all the judges & lawyers & lawmakers have been paid off with OUR collateral & money.
 
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