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Yellow | YRC Will Operate ‘As Usual’ After Exchange Deadline

what do u expect them to say...their at the mercy of the bondholders..yrc dont control their own destiny and that is the only fact anyone can say...oh wait they can say they have extended the deadline again
 
I hope for all the employee's sake that this is true,but what else can the company say?If they don't say that they'll be open Monday,who is going to give them freight tomorrow?Good luck to all,I've been down this road too many times myself in the past 25 years,I wish everyone the best this year and in the future!
 
any one knows what happens if they do file bankruptcy and are open on monday? do we revert to full scale, no scale, do they close the doors for a day and reopen after bankruptcy as a non union carrier?
 
escapemac said:
any one knows what happens if they do file bankruptcy and are open on monday? do we revert to full scale, no scale, do they close the doors for a day and reopen after bankruptcy as a non union carrier?
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It's all a possibility, if they do file most likely they will merge non-union
 
My guess would be is - if they file they close for a day and come back as non union carrier. I don't think there is anyway that YRC could operate as a union carrier during bankruptcy. Just what I think, but I also think if they file its all over with! Lets hope that the debt for equity deal goes thru and that YRC starts to turn things around in 2010.
 
wild thing said:
YRC Worldwide - Prospectus Filed Pursuant to Rule 424
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If we are unable to complete the exchange offers and address our near term liquidity needs as a result of ongoing discussions with our lenders, the International Brotherhood of Teamsters (“Teamsters”) and the multi-employer pension funds to which we contribute, we would then expect to seek relief under the U.S. Bankruptcy Code. This relief may include: (i) seeking bankruptcy court approval for the sale or sales of some, most or substantially all of our assets pursuant to section 363(b) of the U.S. Bankruptcy Code and a subsequent liquidation of the remaining assets in the bankruptcy case; (ii) pursuing a plan of reorganization (where votes for the plan may be solicited from certain classes of creditors prior to a bankruptcy filing) that we would seek to confirm (or “cram down”) despite any classes of creditors who reject or are deemed to have rejected such plan; (iii) seeking expedited confirmation of a plan of reorganization that deems holders of old notes that tender in the exchange offers to have accepted similar treatment under such plan; or (iv) seeking another form of bankruptcy relief, all of which involve uncertainties, potential delays and litigation risks. See “Bankruptcy Relief.”
 
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Diggin said:
I'll work and have body guards with me
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I'll have car- jumper cables with me. Because if the gate is locked and I see people trying to hop over the fence. I am hooking one side of the cables to my car battery, and the other side of cables to the fence. Then rev-up the engine.
 
If they file...............

If they would file a chapter 11,protection filing,the courts then dictate,who,and what bills get paid.They cannot close and re-open non-union.Our wages would stay where they are.The snap back provision is just language they put in back during they pay cut.They would have to prove to the courts when,and if they can emerge from chapter 11.
 
Happy2 said:
My guess would be is - if they file they close for a day and come back as non union carrier. I don't think there is anyway that YRC could operate as a union carrier during bankruptcy. Just what I think, but I also think if they file its all over with! Lets hope that the debt for equity deal goes thru and that YRC starts to turn things around in 2010.
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i always thought that a company was required to be closed for 366 days(1 year plus 1 day) to get rid of a bargaining unit. i could be wrong.
 
yes i believe you are correct that they need tp be closed for a year and a day, or the members could vote the union out.
 
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