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Yellow | YRC To Teamsters: Make A Deal Or Else!

hanalad said:
That is funny! We need an answer by Friday: LMAO:

All involved have only known this since August 8, 2013.
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I read an article in July about how the banks wanted a longer term deal. That only reinforces the fact that management is inept at best. Why wait so long?
 
Probably just a hope and a prayer for increased economic performance and a major increase in shipments through the beginning of the holiday season.

I'd also imagine that management thought they would get more favorable concessions by asking for them closer to the deadline and the holiday season. So many people on this board claim to have spectacular job opportunities elsewhere, and the company doesn't want to give people time to start a job search. Nobody wants to make it though Christmas on unemployment if they don't have to.
 
BIG R GUY said:
Welch has known about the debt payment due dates since he took over in July, 2011.
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To be fair, so have we. I remember reading when the last concessions were approved and thinking, "Thank God, 2-3 more years" - which is why this doesn't surprise me in the least. The economy hasn't picked up enough to have generated the cash flow that YRC needs to meet those payments. And once again, I hate to say it, but there is no doubt in my mind that I'm willing to go back to the table again to try to get another 5 years.

I refuse to believe there are massive sums of money that management has siphoned off to the Caymans or wherever. The banks and the teamsters own this company outright. It's their responsibility as owners to demand transparency and accountability from management. All of these banks have had their own accountants go over YRC's books which is the only reason there is a glimmer of hope for refinancing.
 
bandersnatch said:
To be fair, so have we. I remember reading when the last concessions were approved and thinking, "Thank God, 2-3 more years" - which is why this doesn't surprise me in the least. The economy hasn't picked up enough to have generated the cash flow that YRC needs to meet those payments. And once again, I hate to say it, but there is no doubt in my mind that I'm willing to go back to the table again to try to get another 5 years.

I refuse to believe there are massive sums of money that management has siphoned off to the Caymans or wherever. The banks and the teamsters own this company outright. It's their responsibility as owners to demand transparency and accountability from management. All of these banks have had their own accountants go over YRC's books which is the only reason there is a glimmer of hope for refinancing.
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Good post :1036316054:, but be careful you're making too much sense and you're liable to get slammed by the "opposition". :biglaugh:
 
BIG R GUY said:
Welch has known about the debt payment due dates since he took over in July, 2011.
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I was thinking about a post on TDU's website which mentioned the banks on August 8, requesting another lengthy extension.
I, myself, assumed, rather then paying off any debt at all, YRC would re-finance over and over and over.
 
This is so very amusing that I am unable to chuckle at it!!! I remember when Welch took over he was Hailed The 2nd Coming of The Savior.....such bs that turned out to be......or maybe he's getting the Obama Treatmeant @ following up and Mob Boss who Screwed iT up So Deeply that He is unable to right the ship ??? No that can't be so because Obama created his own mess ( more bs ) The Truth lies in reality of whats happening now @ YRC and thats management has won so many battles against the Teamsters lately it has become bullying andwe have no answer for them.
Sad but True !
 
How is YRC going to get better interest rate with a ccc rating that's like equivalent to 560 credit score. What a lie there trying to sell us about getting better rates theirs no way banks will go lower.
 
hanalad said:
I was thinking about a post on TDU's website which mentioned the banks on August 8, requesting another lengthy extension.
I, myself, assumed, rather then paying off any debt at all, YRC would re-finance over and over and over.
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Even with a lower interest rate, they still need to start paying on the principal. That will have to be sizable $$$, or it will not go down. And with the bill count around 44,000 daily yet, they would need to get to 50,000 and above to make a dent in it. I do not believe we have the people, or equipment to move 50,000 bills daily.
 
Yes you are mostly right BIG R GUY.
That is why I say sell off USF and then you will lower the principle with a hope of recovery.
Why does no one else see that?
Stop thinking like short turn.
I bet Welch already figured that out and that is why he is putting all the new equipment (TRACTORS) into USF for California to meet pollution standards and to have something to sell.
Think about it after the contract is signed with the union then sell USF off and he wins 4 times (4X) contract with teamsters and gets rid of USF and lowers principle and company goes on for awhile and dumps the lease on all the lease equipment to USF also or takes all the equipment with him and puts it back in YRC leaving who ever buys USF with no equipment.
Welch is NO FOOL and he is thinking way, way ahead.
Just my opinion, but He is looking at his options, I would bet and plus he will come out the big hero for saving YRC.
Does this not sound like something the banks would be up to also?
 
If you have followed this saga from the very beginning these payments have always been there. They have been sitting there the whole time. this just didn't appear, but it was always off in the distance. Why think or deal with it, let's get thru today & worry about tomorrow later....this is how it appears management has thought. Tomorrow has arrived & they have no answer other than let the workingman pay for it. They create the debt & the workingman pays for it. it isn't fair by a long shot.
 
jmifrttech said:
All you small head NO FOLKS. take what you can when WHEN you can. Live to fight another day. Im not here to insult anyone. Just tired of people ready to give up. Were all ******. Dealt bad hand but if we can hold on better than alternative. In another life'been there done that' and you wont like it.

Sent from my SAMSUNG-SGH-I747 using Tapatalk
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That's all we heard the last 3 times, When is that day gonna come? When do we say enough is enough? In my opinion the time to stand up is now! 5 years was long enough and they couldn't right the ship.........What's 5 more gonna do? We don't know........ I see more of the same mistakes being made. 6th and 7 punches every week, 2 to 4 hours a day overtime, while laid-off men sit at home, even better
is when they work some over,they offer CC time to others. Etc............
 
Oh, by the way did I forget that say Mr. Welch has a HISTORY of selling off the smaller companies to support the BIG YRC.
Which is by far the largest company of all.
Think about it you are dealing with some very smart people here. They know most of the ways to make money and judging from past history look what has gone on in the past.
 
Linedriver said:
You all can still work and stay at the same level as now.
Sell off USF.
Can not you all see when you need cash you sell off something and the big one is USF.
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YRC payed $1.47 BILLON for USF so throw a number out there maybe they will bite LMFAO!!!!!!!!!
 
does anyone know when the third quarter numbers are coming out? They should shed some light on this mess!
 
Linedriver said:
Yes you are mostly right BIG R GUY.
That is why I say sell off USF and then you will lower the principle with a hope of recovery.
Why does no one else see that?
Stop thinking like short turn.
I bet Welch already figured that out and that is why he is putting all the new equipment (TRACTORS) into USF for California to meet pollution standards and to have something to sell.
Think about it after the contract is signed with the union then sell USF off and he wins 4 times (4X) contract with teamsters and gets rid of USF and lowers principle and company goes on for awhile and dumps the lease on all the lease equipment to USF also or takes all the equipment with him and puts it back in YRC leaving who ever buys USF with no equipment.
Welch is NO FOOL and he is thinking way, way ahead.
Just my opinion, but He is looking at his options, I would bet and plus he will come out the big hero for saving YRC.
Does this not sound like something the banks would be up to also?
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Why would anyone in their right mind in this economy buy USF with their pension fund liability??? Anyone, Anyone, Bueller, Bueller.....
 
JK688, Reddaway is western States Pension, not Central States. Very solid not like Central States.
Bart, The Big YRC has sold off most of Reddaways Properties and paying them less an hour than YRC, they have got there money back and or will when they sell Reddaway.
The playing field is not equal or level as far as wages and pension concerns.
Well I am not here to sell anything to anyone just interesting to see how it is handled and judging from past history.
I am not smart enough to know all the answers, it is just my opinion.
I am open if anyone else as a better way to solve YRC's $$$ problem.
Please make a suggestion.
 
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