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Yellow | Yes voters please read

from page 43: • a cash bonus payable in 2013 in an amount not to exceed $250,000 if certain performance criteria
determined by the Compensation Committee were satisfied during 2012, the full amount of which
Mr. Welch received in 2013 based upon full achievement of the $233.4 million Adjusted EBITDA
target for 2012; and

I don't know what EBITDA is, but this sounds like if he screws us enough he gets an extra bonus?
 
From page 32:
Prior to our 2011 financial restructuring, to preserve liquidity and address uncertainties about our financial condition, our prior Compensation Committee undertook a series of measures to reduce compensation expense that effectively froze NEO compensation at 2010 levels and suspended long-term incentive and 401(k) matching opportunities for executive officers. We believe these decisions, though necessary, had a depressive effect on executive morale and performance.

Imagine that!! Cut pay and morale goes in the dumper! Even in the ivory tower. Who da thunk!
 
Last edited by a moderator:
Also notice on "Signing and Retention Bonus for Mr. Pierson:"

If Mr. Pierson is terminated without cause ,resigns for good reason dies or becomes disabled, or in the event of our bankruptcy, he or his estate or personal representative will receive the remaining amounts held in escrow

So Pierson gets his regardless, as well as Welch and Russell.
 
the5tolls said:
from page 43: • a cash bonus payable in 2013 in an amount not to exceed $250,000 if certain performance criteria
determined by the Compensation Committee were satisfied during 2012, the full amount of which
Mr. Welch received in 2013 based upon full achievement of the $233.4 million Adjusted EBITDA
target for 2012; and

I don't know what EBITDA is, but this sounds like if he screws us enough he gets an extra bonus?
Click to expand...
InvestorWords.com
 
Wow , Great Post of the facts , and yea if we are so broke ,BUT paying out that kind of money !!!!! they can take a -15% pay cut ???
 
crazy, doing away with auto allowance, then raising your pay to make it up, WOW!!!, also freezing others retirement pay and getting increases of at least a milliion dollars for themselves in some cases. It looks as if the Romans are raiding the treasury. If these pages are true, they should go to jail, with out passing go and collecting millions. I am just shocked, then again maybe I should not be shocked. I only pointed out some little stuff, there are major money giveaways there. In 2013, there looked to be a 25 million dollar pool, to pull from for bonus to the select few. Someone wake me up, I must be having a nitemare. Oh yes bfore someone tells me I should have went to school and became an executive, I do not beleive in being paid a bonus, when the company is failing , only when it is making a profit, not until. GOOD LORD, wake up america, we have 26000 families on the hook. not even counting all of the suppliers at the yrcf system.
 
With all the money there paying them to turn this co. around all they can come up with is ask the teamsters for consessions where are all the smart excutive at these days.
 
the5tolls said:
from page 43: • a cash bonus payable in 2013 in an amount not to exceed $250,000 if certain performance criteria
determined by the Compensation Committee were satisfied during 2012, the full amount of which
Mr. Welch received in 2013 based upon full achievement of the $233.4 million Adjusted EBITDA
target for 2012; and

I don't know what EBITDA is, but this sounds like if he screws us enough he gets an extra bonus?
Click to expand...
Earnings Before Insurance Taxes Depreciaiton, I forget what the A stands for,, should know this because thats all one of my old TMS ever talked about
 
These pages are directly from the YRCW site under the Investors Section, annual reports, 2013 Proxy Statement.
 
ceh said:
These pages are directly from the YRCW site under the Investors Section, annual reports, 2013 Proxy Statement.
Click to expand...

If these people are robbing the company of what could go to the bottom line ( bonus paid instead of going to run the company ) Then it makes you think they are doing this as a plan to keep yrcf from making money for a reason. AHAAAAAA!!!!!! could it be to bring all of the union companies down at onc? I do believe I said this the day yellow was able to buy Roadway. I think the one thing that troubles me more is the fact they did away with the auto expense and added it to their own permanent wage with to possibility of decrease by bod. This is a small thing, but WTF!Good Luck to all, from a fellow teamster, ( retired ). Annieo checked in last nite, everyone say hi to her and Happy thanksgiving.
 
Yes, please read this guys ! The executives of YRC are well paid beyond your wildest dreams and have severance pkgs. housing allowances, stock options etc... It looks to me like they all stand to benefit quite well financially if they get us to take concessions which will help them to meet certain performance goals necessary to achieve bonuses. Let em get it the old fashioned way - earn it through outstanding results, not off the backs of hard-working people.
 
the5tolls said:
from page 43: • a cash bonus payable in 2013 in an amount not to exceed $250,000 if certain performance criteria
determined by the Compensation Committee were satisfied during 2012, the full amount of which
Mr. Welch received in 2013 based upon full achievement of the $233.4 million Adjusted EBITDA
target for 2012; and

I don't know what EBITDA is, but this sounds like if he screws us enough he gets an extra bonus?
Click to expand...
It is a business term companies use to make it look on paper that they get an "atta boy", but when the dust clears, and the expenses are deducted, (like YRC"s 3rd quarter, where they first stated a 9.7 million dollar loss), but with the interest then fissured in, they lost 44 million. Read albags post below. It explains it very well.
 
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