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Yellow | YRC Worldwide Extends Debt-for-Equity Offers to December 29

The analysts doubt the success of the debt-for-equity swap. A prepackaged bankruptcy supported by two-thirds of secured and unsecured lenders could be executed in about 30 days, the note said, perhaps forcing dissenting bondholders to go along with the exchange.
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I
n that case, shippers probably would stick around to make sure that there were too many carriers and prices stayed low.
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“But even in this case, as long as two-thirds of the secured lenders are on board, the plan of reorganization could be drafted and approved pre-bankruptcy,” the note said, adding that YRC could keep running its assets during the process.
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“In our view, it is not a foregone conclusion that (YRC) will be liquidated,” the note said. “In fact, we think it is most likely that (YRC) is not liquidated.”
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Analysts: YRC’s delayed deadline a negative - Kansas City Business Journal:

Monday, December 21, 2009..worthy of a repost
 
R-14Driver said:
Bill "Z" just sent me the following message for all you non believers !
[YT]aUrcBUYtbCk[/YT]​
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He's your Hero isn't he? he can do no wrong, what did he say to you to make you such a Lover, "listen to me if you if want YRC to live". Last Time I checked they had 57% of the 8 1/2%
fc32o8.gif
, seems like they lost some.
 
“However, we do not believe that a YRCW bankruptcy is necessary for the sector to recover.” I disagree, the segment is at least 10% overcapacity. For YRC to reduce the ltl capacity by 10% would require a true reorganization. Question is did arrow fill some of the segment. YRC needs to make a profit and Jan-Mar is never profitable if nothing else than because of snow storms.
What other carriers could remove that much capacity?
 
Lets see extended to tonight, then will be extended to the 30th and so forth. These constant extensions will only cause the others to pull back (secured) as they will know it will be matter of time.
Zollars' message to bondholders..........


How about another re-vote till we get it right??
 
If I had a Zollar for every time they extended this time line I would be rich. At the same time the Gov't can't imagine another 40,000 employees out of work? My grandparents had an old saying and I think it applies here; "*hit or get off the pot".
 
if they do file for bankruptcy do we go back to full rate? i seem to have read another post where someone was talking about this, but can't quite remember.
 
This article seems to show a glimmer of hope for our livelihood.


[URL=http://www.reuters.com/][URL=http://www.reuters.com/]http://www.reuters.com/[/URL]

[/URL]
Wall Street Strategies analyst David Silver said he thought the company could still avoid bankruptcy.
"It's bad in the fact that they aren't getting the needed people to step up and convert their shares," said Silver. "But they keep on inching higher. Eventually I think they'll get there."
Silver said he expected YRC to sweeten the deal for the holders of the 8-1/2 percent notes with some additional incentives.
"You're going to see YRC really step up and say this needs to get done," he said.article/idCNN2915171220091229?rpc=44
 
Here's your link to that article UPDATE 3-YRC again extends equity offer, cites progress | Reuters
fr8man said:
This article seems to show a glimmer of hope for our livelihood.


[URL=http://www.reuters.com/][URL=http://www.reuters.com/]http://www.reuters.com/[/URL]

[/URL]
Wall Street Strategies analyst David Silver said he thought the company could still avoid bankruptcy.
"It's bad in the fact that they aren't getting the needed people to step up and convert their shares," said Silver. "But they keep on inching higher. Eventually I think they'll get there."
Silver said he expected YRC to sweeten the deal for the holders of the 8-1/2 percent notes with some additional incentives.
"You're going to see YRC really step up and say this needs to get done," he said.article/idCNN2915171220091229?rpc=44
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nightowl said:
if they do file for bankruptcy do we go back to full rate? i seem to have read another post where someone was talking about this, but can't quite remember.
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Absolutely not. We will make what the bankrupcty judge says we will make and not a penny more. Contracts are voided under bankruptcy. And that is assuming the judge approves a Chapter 11 and doesn't force us to liquidate.
 
regular342 said:
Absolutely not. We will make what the bankrupcty judge says we will make and not a penny more. Contracts are voided under bankruptcy. And that is assuming the judge approves a Chapter 11 and doesn't force us to liquidate.
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Why would a judge do that? Oh yay, more debt than assets and haven't made a profit in well over a year. OUch!
 
and at 11:59 P.M. tonight it will be extended again, unless they get as much as they want, or they will take something else from the employees.
 
fr8man said:
This article seems to show a glimmer of hope for our livelihood.


[URL=http://www.reuters.com/][URL=http://www.reuters.com/]http://www.reuters.com/[/URL]

[/URL]
Wall Street Strategies analyst David Silver said he thought the company could still avoid bankruptcy.
"It's bad in the fact that they aren't getting the needed people to step up and convert their shares," said Silver. "But they keep on inching higher. Eventually I think they'll get there."
Silver said he expected YRC to sweeten the deal for the holders of the 8-1/2 percent notes with some additional incentives.
"You're going to see YRC really step up and say this needs to get done," he said.article/idCNN2915171220091229?rpc=44
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Shouldn't they have been really stepping up the whole time through? And who exactly is the boss? YRC or the bondholder? I'm really am glad it is written positively for us, but how can they sweeten the deal?...I hope they get what we need. This is pretty exhausting and I have no real desire to work non-union again. It really depresses and sickens me...done that for too friggin' long and don't like it at all. If that's all that's left this country truly disgusts me anymore..How many bosses does a working guy need?
 
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