Yellow | yrc buys masterlock

mufungo

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in anticipation of the new concessions failing to pass, yrc has purchased masterlock company, to ease its costs for locking up all its empty properties during foreclosure.
 
funny ... I hope someone on here lets us know before the company closes I need to get my locker out before the lock is installed
 
That fine and dandy, but what property does YRC actually own ?? Everything is leased, and everything is old and out dated. EXACTLY why they voted themselves bonuses and pay raises in April. Here they thought Zollars was a no good bum...They took for themselves exactly what Zollars did !!!
 
funny ... I hope someone on here lets us know before the company closes I need to get my locker out before the lock is installed

At CF there was no warning of closure. .... it was a rumor going around for some time. All I can say is be prepared for the worst and hope for the best.
 
They warned us at CF it was Labor Day and they called us with a tape recorded message.The message said it was the hardest thing the CEO has ever had to do and I TOTALLY believe him as he jumped with his golden parachute.
 
just like a bunch from yrc wasting money on locks when you have dozens hanging on the back of city trailers that are never used .
 
Yes, they have to give notice. When the COO was announced, YRC sent notices to Ohio, Tenn and Mo unemployment boards that they would be laying off. They were compling with the WARN Act.
 
Hoosierky I have no proof of any kind but just to say I think you are wrong .If they were to close the doors you would get NO notice .if you are lucky maybe a robo call before you waste gas going into work. if not when you get there the gates will be chained and some rent a cop will be at the gate .
 
They do not legally have to notify you of an impending closing. The WARN act is suppose to be a deterrent to sudden closure. If the company doesn't notify you thirty days in advance of closing than all employees are added to the list of creditors to be paid when the court filings are settled. i.e.: any earned vacation or unused vacation time and any back wages. Preston and CF employees both received the WARN act payments. It was a couple years later and for some it was pennies on the dollar of what their original claim was.
 
I was at CF when they locked the gates. My wife also had the same thing happen with a different company. Both times
we got our WARN Act $$. They can chose not to give notice, but it comes at a heft price for the
creditors.
 
Preston gave the customers 2 days notice- us employees none. I got Full WARN act plus all my vacation- 18 months later. My unused sick days were forfeited....
 
How does giving notice effect stock trading though? I always thought public traded companies didn't give notice because it would lead to insider trading? I guess it wouldn't beings insider trading if it was announced publicly. Maybe I'm thinking of mergers and acquisitions. ....
 
How does giving notice effect stock trading though? I always thought public traded companies didn't give notice because it would lead to insider trading? I guess it wouldn't beings insider trading if it was announced publicly. Maybe I'm thinking of mergers and acquisitions. ....

Freight companies don't give notice to prevent destruction to freight and property. WARN Act payouts are cheaper than having a terminal burned (Preston's Detroit one was).
 
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