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Thread: Another rumor

  1. #1
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    Default Another rumor

    The big rumor going around here in Jersey today is that ABF is negotiating to buy New Penn & Reddaway. Supposedly the only problem is the snapback clause in the YRC give back agreement.

    I know that it is only a rumor but some of the YRC & New Penn guys say they heard it from their supervisors.

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    Default Re: Another rumor

    what do you mean "snap back plan?

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    Default Re: Another rumor

    Snap back plan is probably the wage concessions become null and void as well as the pension deferrals and liabilities. Hey, what about Holland..could they buy us too? Pretty please!

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    Default Re: Another rumor

    We have alot of USF freight now. Would we all work together? Is all I can add. We don't have ABF freight. It would be a wierd situation as to who gets what freight. We don't just do the northeast anymore. I can't really add much. EXcept wait. I mean is it New Penn freight? Holland freight? Reddiway freight? YRC freight? ABF Freight? plus New Penn dooesn't own all of it's terminals anymore. Too confusing for me to think about. I think I'll take a nap....As long as there is a positive outlook for New penn and all 40,000 at YRC including USF(ABF is doing OK) I'm fine.
    Last edited by slavenomore; 10-28-2009 at 03:08 PM.

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    Default Re: Another rumor

    Slavenomore, have you heard anything about this rumor? The New Penn drivers from your Trenton terminal are actually giddy with excitement over the possibility of it being true.

    They claim that the banks told YRCW that in order for them to secure this new loan agreement that YRCW has to sell off more of its assets. And that ABF is in serious negotiations to but New Penn and Reddaway for $225 million.

    I am not comfortable spreading rumors that might get peoples hopes up. I only posted this rumor in the hope that others might have already heard it and they might have something positive to add to it.

    I now regret posting it and getting peoples hopes up. I should have just waited for YRCW's announcement on Friday

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    Default Re: Another rumor

    If YRCW did sell New Penn or another, would the MOU be canceled for them? They would get there 15% back, there pension payments would start again. This is a question?

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    Default Re: Another rumor

    The IBT is telling us, as we get ready to vote, that in the second MOU (additional 5%), the snap back was taken out; so it has evidently magically disappeared.

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    Default Re: Another rumor

    Quote Originally Posted by 2631 View Post
    Slavenomore, have you heard anything about this rumor? The New Penn drivers from your Trenton terminal are actually giddy with excitement over the possibility of it being true.

    They claim that the banks told YRCW that in order for them to secure this new loan agreement that YRCW has to sell off more of its assets. And that ABF is in serious negotiations to but New Penn and Reddaway for $225 million.

    I am not comfortable spreading rumors that might get peoples hopes up. I only posted this rumor in the hope that others might have already heard it and they might have something positive to add to it.

    I now regret posting it and getting peoples hopes up. I should have just waited for YRCW's announcement on Friday
    I've only heard that people have their hopes up that ABF would buy us.
    And a rumor went around within the last year that they were going to......but none panned out....It was also rumored months ago that SAIA wanted to buy us....not true either....buzz and excitement but nothing ever pans out.

    I didn't here anything recently about this stuff....I think we're burned out on worry and rumors for now....It could change later today though,who knows.
    I really don't know what to make of any of it....I don't know what's best...
    I just hope we all make it and New Penn stays New Penn no matter what.
    I'm sick of changing jobs...and sick of starting over on the bottom and surely don't want to get layed off or unemployed...and I'll probably go to jail if I end up at another scab outfit and have my job threatened by idiot bosses or suckups anymore...I'm tired of dealing with them. I don't feel that i coulkd deal with them civily anymore..I've done 9 years time with them and them acting like they own me.....I just hope everything stays as is and moves forward for everyone and everybody starts working again and gets comfortable and more stable feeling....New Penn with YRC or ABF or alone would be fine with me as long as it feels much more stable than this...

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    Default Re: Another rumor

    Well this A.M. I heard this rumor. That ABF is going to buy New Penn by the end of this day..........I heard it from 2 people.......and really don't believe it till I see it.......but I did hear it. It just seems like one of these,Iknow something you don't rumors....I'll only believe it when I see it. But will I keep my ears open..yes.

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    Default Re: Another rumor

    Quote Originally Posted by Pullin3 View Post
    The IBT is telling us, as we get ready to vote, that in the second MOU (additional 5%), the snap back was taken out; so it has evidently magically disappeared.
    In that case I bet they do sell to ABF

 

 
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