Yellow | YRC charts course to recovery by end of 2010

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Leading trucker YRC Worldwide , which narrowly averted bankruptcy in December, expects to have a "global solution" to looming 2011 financial obligations within the next few months, the company's top executive said on Monday.The plan comes as improved business volumes are seen helping the still-struggling company post gains through the end of the year."We are not out of the woods yet. We've still got a lot of things to do, but ... we expect to be back on our feet by the end of the year," YRC Chairman and CEO William Zollars said at the Reuters Manufacturing and Transportation Summit in Chicago.Zollars and other executives with the Overland Park, Kansas-based company are to meet Tuesday with a new board of directors appointed after the debt-for-equity swap in December that kept the company afloat. The new board includes members with expertise in operational and capital restructuring, both high on the priority list for YRC.Zollars said the focus was on securing agreements with lenders and union leaders to trim deferred interest and pension benefits obligations that are set to hit YRC in 2011. Combined, those obligations amount to more than $100 million per quarter.

http://uk.reuters.com/article/idUSTRE64969620100510
 
Global solution? What the hell is that? Move the headquarters off shore so the the pension laws don't apply or just hire Immigrants for 4 dollars a day? Never a dull moment around here. :hyper:
 
YRC Charts course to recovery......blah blah blah. He's got to be kidding. There is no recovery, there is no plan. All his hope lies in the tin cup approach. He's a beggar with his tin cup out asking for mercy. What a pathetic piece of ::shit:: .
 
YRC Charts course to recovery......

with bill behind the wheel we will hit that ice burg, and we wont have enough lifeboats either because of cost cutting.......

when is his contract up? this year ?
 
Improved business volumes?? Revenue continues to decline? Shipments and tonnage were both down over 30% at the long haul division. Who in the world is Zollars kidding when he talks about improving volumes?
 
"The plan comes as improved business volumes are seen helping the still-struggling company post gains through the end of the year"................... Where oh where are these fantom volumes going to come from? Tonnage and bill count was down over 30% versus the year before and Revenue declined from 1.502 billion to 1.063 billion. The company is doing 439 million less in revenue! If not for a wink wink deal between Obama and Goldman Sachs and JP Morgan this company would be out of business. There is probably enough smoke and mirrors to carry this company thru to the end of the year but at some point this CEO has to level with people.
 
It’s called Chapter 11 Bankruptcy:
This Zollars clown should be selling Juicers on TV hell I would buy one;
He has more bullshit and total lies and stories that never materialize.
:thumbsup: :rant:
 
Its time for the Union to start standing their ground and quit giving in to every little thing Zollars wants. Enough is enough,the company either survives on what we have already given or they shutdown.
WE ARE NOW IN SUDDEN DEATH OVERTIME.
 
I'm surprised anybody pays attention to whatever that loser has to say. Must have been a slow news day so they called up $Bill by mistake instead of BK and asked for a Whopper to go.
 
[quote author=R-14Driver link=topic=80019.msg828685#msg828685 date=1273531578]
4578467297_cfe0607d8e_m.jpg


Leading trucker YRC Worldwide , which narrowly averted bankruptcy in December, expects to have a "global solution" to looming 2011 financial obligations within the next few months, the company's top executive said on Monday.The plan comes as improved business volumes are seen helping the still-struggling company post gains through the end of the year."We are not out of the woods yet. We've still got a lot of things to do, but ... we expect to be back on our feet by the end of the year," YRC Chairman and CEO William Zollars said at the Reuters Manufacturing and Transportation Summit in Chicago.Zollars and other executives with the Overland Park, Kansas-based company are to meet Tuesday with a new board of directors appointed after the debt-for-equity swap in December that kept the company afloat. The new board includes members with expertise in operational and capital restructuring, both high on the priority list for YRC.Zollars said the focus was on securing agreements with lenders and union leaders to trim deferred interest and pension benefits obligations that are set to hit YRC in 2011. Combined, those obligations amount to more than $100 million per quarter.

http://uk.reuters.com/article/idUSTRE64969620100510
[/quote]Every time he talks,it always gets worse.A couple of months for now he will have another line of bull ::shit::!!!
 
Every time we turn around he puts out another B.S. article about the improvements that we will see over the "next couple months". Well, several of these "next couple months" have came and went.........and we're still in the same mess.
 
[quote author=Northern Flash link=topic=80019.msg829717#msg829717 date=1273841206]
Every time we turn around he puts out another B.S. article about the improvements that we will see over the "next couple months". Well, several of these "next couple months" have came and went.........and we're still in the same mess.
[/quote]Maybe he is preparing and planning to ask the current employees for more money, again. There are plenty of people who are more than willing to give another 5%. Did you see how many Yes votes he got on the last concession? If I were him, I would try it again. YRC, the (Y)es (R)unning (C)rew doesn't know how to say or vote No, yet.
 
YRC is just like the Titanic.
They both had a course set for success and guess what?
The Captain F'd it up!
AHoy there $ Bill, iceberg ahead.
 
[quote author=rockford files link=topic=80019.msg829822#msg829822 date=1273869209]
YRC is just like the Titanic.
They both had a course set for success and guess what?
The Captain F'd it up!
AHoy there $ Bill, iceberg ahead.
[/quote]The technology and equipment that YRC uses is as old as the Titanic, maybe. The Captain can steer around the iceberg, but it is the jealous mates on the ship who refuse to obey his orders. Now if the Captain would had stuck with his original shippers' mates after the merger, (instead of the surviving Roadway management), and used the original Yellow Freight paperwork detail, YRC and the employees would have the correct coordinates, and wouldn't be rubbing up against any rocks, or put through any danger of thinking about jumping off. However, the ship is installed with life preservers and rafts/union to help anyone at anytime when a person is in need.
 
JUST A QUESTION? Has anyone still working really seen any improvements? I guess if you are still working then everything i working fine.
 
[quote author=truckchick1 link=topic=80019.msg829830#msg829830 date=1273871503]
JUST A QUESTION? Has anyone still working really seen any improvements? I guess if you are still working then everything i working fine.
[/quote]
I won't touch the "Dig" however I will give my perspective.

Yes, I have seen some significant improvements in the past few years system wide. Arguably, some has been at the expense of Teamster flexibility.

There has been a shift of work to terminals with higher productivity rates countrywide. This allows more work overall to be accomplished by less manpower.

Lower management has been culled. Those working find they are now dealing with a much higher percentage of capable staff, compared to two years ago.

Though Teamster moral is affected by wage and benefit cuts, those who are working seem to have a more positive "Get R Done" attitude.

To summarize, there seems to be a much greater sense of teamwork between management and workers, in a much higher percentage and things seem to operate more productively system wide.
 
The biggest change that we have seen recently here at Holland is that Corporate is finally letting them bring in more drivers to service the customers, instead of just letting the freight sit. That's our biggest change. :thumbsup:
 
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