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YRC Freight | YRC stacks its board with turnaround experts

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R-14Driver

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YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board while four current directors will remain.....

......The new board members, according to the filing, are:

• Eugene Davis, chairman and CEO of Pirinate Consulting Group LLC. He has experience with turning around businesses.

• Marnie Gordon, a director at investment adviser Angelo, Gordon & Co. She has experience with financially challenged companies.

• Beverly Goulet, vice president of corporate development and treasurer for AMR Corp., the parent company of American Airlines Inc. She has experience in debt and equity financing and out-of-court restructuring.

• Mark Holliday, president of investment firm Goshawk Capital Corp. and a partner in investment firm Camden Asset Management LP. He has experience in financial matters, such as capital restructuring.

• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

http://kansascity.bizjournals.com/kansascity/stories/2010/04/26/daily57.html
 
I hope these are people who care more about making a profit and less about beating down hard working Teamsters!!!
 
[quote author=spiracer link=topic=79718.msg825944#msg825944 date=1272677073]
I hope these are people who care more about making a profit and less about beating down hard working Teamsters!!!
[/quote]
Everyone is so Geriatric now with so many laid off. The only thing I can think of to motivate the troops would be a set of those electric paddles like the paramedics use. Maybe some bengay too?
 
[quote author=R-14Driver link=topic=79718.msg825936#msg825936 date=1272674778]
yrc.gif

YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board while four current directors will remain.....

......The new board members, according to the filing, are:

• Eugene Davis, chairman and CEO of Pirinate Consulting Group LLC. He has experience with turning around businesses.

• Marnie Gordon, a director at investment adviser Angelo, Gordon & Co. She has experience with financially challenged companies.

• Beverly Goulet, vice president of corporate development and treasurer for AMR Corp., the parent company of American Airlines Inc. She has experience in debt and equity financing and out-of-court restructuring.

• Mark Holliday, president of investment firm Goshawk Capital Corp. and a partner in investment firm Camden Asset Management LP. He has experience in financial matters, such as capital restructuring.

• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

http://kansascity.bizjournals.com/kansascity/stories/2010/04/26/daily57.html
[/quote]

And....not a damned one of them knows anything about a truck, let alone how to operate a trucking company!...Jimmy Welsh was the last trucker at KCGO...sad....KK
 
• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

This guy should be the most valuable to the company........He should really know how to give us employees the meat!
 
[quote author=Northern Flash link=topic=79718.msg826077#msg826077 date=1272719240]
• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

This guy should be the most valuable to the company........He should really know how to give us employees the meat!
[/quote]

"intergrated beef development'....is that code for knowing how to spread bull ::shit:: around and getting people to beleive the spin?....just wondering....KK
 
[quote author=Kennesaw Kid link=topic=79718.msg826079#msg826079 date=1272719725]
[quote author=Northern Flash link=topic=79718.msg826077#msg826077 date=1272719240]
• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

This guy should be the most valuable to the company........He should really know how to give us employees the meat!
[/quote]

"intergrated beef development'....is that code for knowing how to spread bull ::shit:: around and getting people to beleive the spin?....just wondering....KK
[/quote] Yep. That's just another corporate code word that we weren't supposed to figure out.
 
This is probably the best they could do .People aren't knocking down the doors to work here. :iamnotworthy:
 
[quote author=DanSullivan link=topic=79718.msg826144#msg826144 date=1272729822]
Why not put Hoffa on the board. He's a turnaround (and bend over) expert.
[/quote]

Ya, He's already destroyed the Teamsters and the NMFA. Why not let him finish off YRC??
 
[quote author=Johnnyr33 link=topic=79718.msg826174#msg826174 date=1272737131]
[quote author=DanSullivan link=topic=79718.msg826144#msg826144 date=1272729822]
Why not put Hoffa on the board. He's a turnaround (and bend over) expert.
[/quote]

Ya, He's already destroyed the Teamsters and the NMFA. Why not let him finish off YRC??
[/quote] Zollars needs no help with that!!!!
 
[quote author=truckinusa link=topic=79718.msg825953#msg825953 date=1272679797]
[quote author=spiracer link=topic=79718.msg825944#msg825944 date=1272677073]
I hope these are people who care more about making a profit and less about beating down hard working Teamsters!!!
[/quote]
Everyone is so Geriatric now with so many laid off. The only thing I can think of to motivate the troops would be a set of those electric paddles like the paramedics use. Maybe some bengay too?
[/quote]
Why you damn whippersnapper you !
 
the desription of the one woman says she is experienced working with debt-laden companies. notice it doesn't say she SAVED debt-laden companies, only says she is used to working with them. so am i- does that make Either of us qualified?
 
("• Marnie Gordon, a director at investment adviser Angelo, Gordon & Co. She has experience with financially challenged companies.")

Not mentioned with her history in the posted article is her last and most recent executive position. Vice president of investment with Goldman & Sachs!!!!!
Just what kind of turn-around or re-structuring are they looking for here.
Sound like very questionable connections to me.
 
Since forming PIRINATE in 1997, Mr. Davis has advised, managed, sold, liquidated and served as a CEO, CRO, Director, Committee Chairman and Chairman of the Board of a number of businesses operating in diverse sectors such as telecommunications, automotive, manufacturing, high-technology, medical technologies, metals, energy, financial services, consumer products and services, import-export, mining and transportation and logistics.


http://www.atlasair.com/holdings/board-directors.html
 
[quote author=R-14Driver link=topic=79718.msg825936#msg825936 date=1272674778]
yrc.gif

YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board while four current directors will remain.....

......The new board members, according to the filing, are:

• Eugene Davis, chairman and CEO of Pirinate Consulting Group LLC. He has experience with turning around businesses.

• Marnie Gordon, a director at investment adviser Angelo, Gordon & Co. She has experience with financially challenged companies.

• Beverly Goulet, vice president of corporate development and treasurer for AMR Corp., the parent company of American Airlines Inc. She has experience in debt and equity financing and out-of-court restructuring.

• Mark Holliday, president of investment firm Goshawk Capital Corp. and a partner in investment firm Camden Asset Management LP. He has experience in financial matters, such as capital restructuring.

• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......

http://kansascity.bizjournals.com/kansascity/stories/2010/04/26/daily57.html
[/quote]Big deal,the same clown is still the chairman!! :rant: :rant:
 
[quote author=papabear_1973 link=topic=79718.msg827938#msg827938 date=1273281638]
We had a turnaround expert at CF also.He got rid of almost everyone that knew how to turnaround a freight company.
[/quote]

Brinco, the $cum bucket
 
They've been so engulfed in playing the "shell game" with the money, that they lost focus on what helps a company grow and prosper. It's pretty simple.......keep your employees happy and your customers happy and you will succeed. They've done neither!
 
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