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Yellow | Yellow Rivals Scoop Up Truck Terminals in Bankruptcy Auction

Sperg said:
I don't know where people get that we didn't make good money? We got paid around $37hr when you accounted for our health and welfare contributions. I know it's hard for most people to comprehend when they see $32 on a check stub per hour and then don't pay attention to the minus $260 a month or more for a family contribution, plus the minus amount for pretax 401k that could be worth nothing in 6 months . But yellow was far from the bottom of the barrel like most of these fellas work for! šŸ˜œ
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most don't................. but its a done deal now so we all have to live with it !
 
Sperg said:
These Teamster hating lowlifes in here are getting their wish, when all of the teamster companies are gone and they are back making $15 an hour because they are too ignorant to get a job in another field, that's what's really going to be funny!
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A lot of us don't hate the teamsters. We didn't do this Yellow did. I was hoping at least some kind of miracle so some of you would get your jobs back. Im sorry it didn't work out.
 
Is anyone going to acknowledge when doing a ā€œcomparisonā€ of compensation, that the non union workers do not pay for the total amount of their heath insurance with the amount they pay themselves? Is is so hard to understand that ALL of the companies pay a large portion of the premiums on their workers behalf if coverage is offered?
 
From the sale list, looks like only five terminals went to union companies of ABF and TForce. I may be wrong, but those two stand out.
 
RumRunner1 said:
its not a done deal yet, that will be decided on Dec 12, the judge and the company can decide to take the going concern bid as a priority, this is just the normal bid process playing out.
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Hmmm.... let's see, we can take 2 billion from Jack Cooper, or we can take 3 billion, from the rest of the assets.... you got another billion Jack? Didn't think so.. you get nothing, good day sir!
 
Supermac said:
Hmmm.... let's see, we can take 2 billion from Jack Cooper, or we can take 3 billion, from the rest of the assets.... you got another billion Jack? Didn't think so.. you get nothing, good day sir!
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Hmmm, lets see... what do we have here before us today in this Ch 11 restructuring proceeding, I see piece meal bids to liquidate a 100 year old unionized LTL company that employed 30,000 workers and was originally presented before this court as a debt ridden entity that would be lucky to barely have enough to pay off a government loan and therefore needs to be liquidated immediately to pay back its hedge fund creditors but low and behold it appears to be worth 3 times the initial claims and what's this over here.... a going concern bid to actually do what the chapter 11 bankruptcy filing intended and restructure the debt and continue the company operations. So my question to the creditors is why the rush to liquidation if you have an interested party looking to restructure and refinance the continued operation and save jobs? Why didnt you file Chapter 7 if the financial crises of this company was so dire that you had no belief that it could be salvaged? Were you acting in the interest of the stakeholders or a particular hedge fund? Were you instructed by any investment company such as Apollo Capital to liquidate so they could be repaid 1st in line? Why did MFN company come out of nowhere buy a 41% stake in Yellow stock when bankruptcy was announced and it tanked to .40 cents a share? Is there any relationship between MFN and any of the winning auction bidders such as XPO Logistics? Are you trying to make a mockery of my courtroom and take advantage of bankruptcy laws in order to put a union company out of business and aid non union competitors? Are you trying to use the bankruptcy court to steal millions of dollars from hard working Teamster employees while you enrich yourselves, hedge funds, bankers and lawyers while the blue collar workers are struggling to survive?

This court rules in favor of the going concern bid and I will refer the matter of potential insider trading, possible corrupt dealings between executives, board members and lenders, and fraudulently using the bankruptcy court for personal enrichment to the justice department.

SO IT IS ORDERED!
 
almost13ranch said:
Is anyone going to acknowledge when doing a ā€œcomparisonā€ of compensation, that the non union workers do not pay for the total amount of their heath insurance with the amount they pay themselves? Is is so hard to understand that ALL of the companies pay a large portion of the premiums on their workers behalf if coverage is offered?
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I have acknowledged it several times...non union companies pick up the lions share, but think about this....the companies send a check to Blue Cross \ Blue Shield, then they collect money from you to pay for a portion of it......they only do this as a way to take some of your compensation back...they give you a raise then they take some of it back claiming "insurance increases"....they never tell you how much they spend or how much the increases are....makes it very hard to compare companies....
 
Supermac said:
Hmmm.... let's see, we can take 2 billion from Jack Cooper, or we can take 3 billion, from the rest of the assets.... you got another billion Jack? Didn't think so.. you get nothing, good day sir!
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You are forgetting about the 700 million for the fed loan...throw that in there and the bid is closer than you are saying....
 
ABF381 said:
You are forgetting about the 700 million for the fed loan...throw that in there and the bid is closer than you are saying....
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There was only the $700 million govt loan and the $400 or $600? million Apollo Capital loan which was conveniently bought by Citadel after the bankruptcy filing. All of sudden Yellow has all kinds of credit and financing available even recently got a $100 million increase in their DIP loan ...eh...billions for the bankers debts for the people.
 
RumRunner1 said:
There was only the $700 million govt loan and the $400 or $600? million Apollo Capital loan which was conveniently bought by Citadel after the bankruptcy filing. All of sudden Yellow has all kinds of credit and financing available even recently got a $100 million increase in their DIP loan ...eh...billions for the bankers debts for the people.
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They also have a 5 billion pension liability debt.
 
ABF381 said:
I have acknowledged it several times...non union companies pick up the lions share, but think about this....the companies send a check to Blue Cross \ Blue Shield, then they collect money from you to pay for a portion of it......they only do this as a way to take some of your compensation back...they give you a raise then they take some of it back claiming "insurance increases"....they never tell you how much they spend or how much the increases are....makes it very hard to compare companies....
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Sorry to say this, your going to have to say it again.
 
ROLLBACK said:
They also have a 5 billion pension liability debt.
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liquidation will make no dent in that high of a debt, they would be better off having Cooper revive Yellow and start making full contributions for H&W / Pension for the 15,000 initial workers going forward and dropping the IBT lawsuit!
 
RumRunner1 said:
liquidation will make no dent in that high of a debt, they would be better off having Cooper revive Yellow and start making full contributions for H&W / Pension for the 15,000 initial workers going forward and dropping the IBT lawsuit!
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That lawsuit is against Oā€™Brien, keep the 5 billion in pension contributions out of it.
To be honest, weā€™re all orphans now, it wouldnā€™t make a difference at this point.
 
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