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Thread: YRC stock offer

  1. #1
    Getting In The Groove Now.

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    Default YRC stock offer

    YRC has offered its stocks in YRC if we vote "yes" to concessions.This could be a good thing provided the company quits getting themselves into more debt buying other companies before paying off what debt they currently have.
    The downside and very true fact is:If the concessions are voted in it makes
    every Teamster at the YRC companies stockholders (part owners) in the corporation.If YRC would end up filing for bankruptcy or go out of business,the creditors could legally bring lawsuits against each and everyone of us in an attempt to recover money that's owed to them.
    Do the Teamster Members really want to take a chance of this happening?This has the potential to force every single one of us to file for chapter 7 bankruptcy should they continue to mis-manage.

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    Default Re: YRC stock offer

    Bankruptcy is a legal mechanism that allows creditors to assume control of a firm when it can no longer meet its financial obligations. Bankruptcy is a result feared by both stock and bond investors. Generally, the firm's assets are liquidated (sold) in order to pay off creditors to the extent that is possible. When bankruptcy occurs, stockholders of a corporation can only lose the amount they have invested in the bankrupt company. This is called Limited Liability. The stockholders' liability to creditors is limited to the amount invested. Therefore, if a firm's liabilities exceed the liquidation value of their assets, creditors also stand to lose money on their investments.

    When bankruptcy occurs, a federal court official steps in and handles the payments of assets to creditors. The remaining funds are always distributed to creditors in a certain pecking order:

    Unpaid taxes to the IRS and bankruptcy court fees
    Unpaid wages
    Secured bondholders
    General creditors and unsecured bonds
    Subordinated debentures
    Preferred Stockholders
    Common Stockholders

    Obviously, to hold secured bonds rather than unsecured bonds is more advantageous in the event of a bankruptcy. This is where you must examine your risk/reward requirements. As you move down this hierarchy, your risk of losing your investment increases. However, you are "rewarded" for taking more risk with potentially higher investment returns.

    How do you predict bankruptcy? Well, no one can do it perfectly. However, one popular method called a Z-score (developed by Edward Altman) has a good track record. To learn more about "Z-scores" go to your local library.

  3. #3
    I call it like I see it!

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    Default Re: YRC stock offer

    CMrMark,

    Just out of curiousity, who do you work for?

    Mark

  4. #4
    I Am Rocking Now

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    Default Re: YRC stock offer

    Quote Originally Posted by MarkYRC View Post
    CMrMark,

    Just out of curiousity, who do you work for?

    Mark
    His profile says Holland
    my opinion of his 10 anti union post(only post he makes tbh)







  5. #5
    I call it like I see it!

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    Default Re: YRC stock offer

    Quote Originally Posted by piasared View Post
    His profile says Holland
    my opinion of his 10 anti union post(only post he makes tbh)






    I was curious because he has an advertisement in his signature for a freight broker....

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    Default Re: YRC stock offer

    thats random. think it can appear anywhere on anyone's sig

  7. #7
    Getting In The Groove Now.

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    Default Re: YRC stock offer

    I work for Holland.And no,I'm not anti-union.But I can clearly see that the union hasn't done a very good job in negotiations.It is so obvious that YRC has used one of the oldest trick in the book in order to get what they want,our money.Insitlling fear into its employees.
    For those of you who think I'm anti-union,answer a couple of questions for me.Did the union get YRC to agree not to abitrarily close any of the companies for a specific amount of time in which the employees bail them out of their debt?The answer,NO.Did the union attemt to get all of the multi million dollar salary CEO's to bring their pay down to something resonable like $200,000 to $400,000 a year? The answer is,NO.The lowest paid of their CEO's makes more in one week than any teamster makes in a full year working 20 hours of overtime each week.If the union really did its homework,where did YRC get the money to start buying all of these brand new YRC Worldwide trailers?I guess they printed the money.Where did YRC get the money for this new truck line that's in the initial start up stages called,Yellow Fast Freight?I guess they printed the money for that also.Yeah,alot of employees talk about the day stocks fell to about $1.20 per share.No big deal!There are a number of things that a company can do to munipulate their stock prices to inflate or deflate them.
    Sure YRC has debts,but so do most of us.If you were in as bad a shape as YRC claims to be,were would you get the money to buy a new vehicle and start a business for yourself?You wouldn't be able too.
    With UPS getting out from the Teamsters Health and Welfare fund has really hurt the union.YRC being the next largest union employer is going to do their share to try and bust the union.And it looks as though most of the teamsters want to give them enough money so we can be the next C.F. (doors closed and non union companies up and running).
    Let me ask a question of all of you that think that you are really union people.Where is your backbone?If it wasn't for the people fighting hard and going up against tough odds years ago,there wouldn't even be a Teamsters Union today or 20 years ago.
    YRC can close the doors any day they want too for no reason,even if they had a $100 billion surplus of cash.So what makes any of you think that you have any job security by giving them back part of your money?I mean if the company chooses to close its doors just because they want too,you're still screwed on your pensions.They could also have 10 non union lines in the start up stages that they aren't making public yet.Because they are in the start up stages,they are actually considered started and thus wouldn't be covered as a breech under the agreement that so many want to vote in.
    If most of you really took a good look at the entire picture and were honest with yourselves,I think you'd agree that YRC can't be as bad off as they want us to beleive.But the simple fact that they instill fear into us,most are willing to give in without any sort of security.
    How many of you would like to give 2% of your pay for the next 2 years to help payoff my debt?

  8. #8
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    Default Re: YRC stock offer

    Former Chrysler Corp. Chairman Lee Iacocca worked for a Dollar when he went to congress to ask for a loan for Chrysler. GM Chairman and CEO Rick Wagoner says he will also work for a dollar a year to get the loan for GM. What would be wrong with Zollars working for a dollar a year until the wages are restored back to the current contract levels?

  9. #9
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    Default Re: YRC stock offer

    Quote Originally Posted by CMrMark View Post
    I work for Holland.And no,I'm not anti-union.But I can clearly see that the union hasn't done a very good job in negotiations.It is so obvious that YRC has used one of the oldest trick in the book in order to get what they want,our money.Insitlling fear into its employees.
    For those of you who think I'm anti-union,answer a couple of questions for me.Did the union get YRC to agree not to abitrarily close any of the companies for a specific amount of time in which the employees bail them out of their debt?The answer,NO.Did the union attemt to get all of the multi million dollar salary CEO's to bring their pay down to something resonable like $200,000 to $400,000 a year? The answer is,NO.The lowest paid of their CEO's makes more in one week than any teamster makes in a full year working 20 hours of overtime each week.If the union really did its homework,where did YRC get the money to start buying all of these brand new YRC Worldwide trailers?I guess they printed the money.Where did YRC get the money for this new truck line that's in the initial start up stages called,Yellow Fast Freight?I guess they printed the money for that also.Yeah,alot of employees talk about the day stocks fell to about $1.20 per share.No big deal!There are a number of things that a company can do to munipulate their stock prices to inflate or deflate them.
    Sure YRC has debts,but so do most of us.If you were in as bad a shape as YRC claims to be,were would you get the money to buy a new vehicle and start a business for yourself?You wouldn't be able too.
    With UPS getting out from the Teamsters Health and Welfare fund has really hurt the union.YRC being the next largest union employer is going to do their share to try and bust the union.And it looks as though most of the teamsters want to give them enough money so we can be the next C.F. (doors closed and non union companies up and running).
    Let me ask a question of all of you that think that you are really union people.Where is your backbone?If it wasn't for the people fighting hard and going up against tough odds years ago,there wouldn't even be a Teamsters Union today or 20 years ago.
    YRC can close the doors any day they want too for no reason,even if they had a $100 billion surplus of cash.So what makes any of you think that you have any job security by giving them back part of your money?I mean if the company chooses to close its doors just because they want too,you're still screwed on your pensions.They could also have 10 non union lines in the start up stages that they aren't making public yet.Because they are in the start up stages,they are actually considered started and thus wouldn't be covered as a breech under the agreement that so many want to vote in.
    If most of you really took a good look at the entire picture and were honest with yourselves,I think you'd agree that YRC can't be as bad off as they want us to beleive.But the simple fact that they instill fear into us,most are willing to give in without any sort of security.
    How many of you would like to give 2% of your pay for the next 2 years to help payoff my debt?
    CMrMark, Have you taken the time to investigate YRC's finances yourself? If you have I think you'll agree that things are pretty dire at this point.

    Also, please tell us more about this "new company"

  10. #10
    Getting In The Groove Now.

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    Default Re: YRC stock offer

    Quote Originally Posted by CMrMark View Post
    I work for Holland.And no,I'm not anti-union.But I can clearly see that the union hasn't done a very good job in negotiations.It is so obvious that YRC has used one of the oldest trick in the book in order to get what they want,our money.Insitlling fear into its employees.
    For those of you who think I'm anti-union,answer a couple of questions for me.Did the union get YRC to agree not to abitrarily close any of the companies for a specific amount of time in which the employees bail them out of their debt?The answer,NO.Did the union attemt to get all of the multi million dollar salary CEO's to bring their pay down to something resonable like $200,000 to $400,000 a year? The answer is,NO.The lowest paid of their CEO's makes more in one week than any teamster makes in a full year working 20 hours of overtime each week.If the union really did its homework,where did YRC get the money to start buying all of these brand new YRC Worldwide trailers?I guess they printed the money.Where did YRC get the money for this new truck line that's in the initial start up stages called,Yellow Fast Freight?I guess they printed the money for that also.Yeah,alot of employees talk about the day stocks fell to about $1.20 per share.No big deal!There are a number of things that a company can do to munipulate their stock prices to inflate or deflate them.
    Sure YRC has debts,but so do most of us.If you were in as bad a shape as YRC claims to be,were would you get the money to buy a new vehicle and start a business for yourself?You wouldn't be able too.
    With UPS getting out from the Teamsters Health and Welfare fund has really hurt the union.YRC being the next largest union employer is going to do their share to try and bust the union.And it looks as though most of the teamsters want to give them enough money so we can be the next C.F. (doors closed and non union companies up and running).
    Let me ask a question of all of you that think that you are really union people.Where is your backbone?If it wasn't for the people fighting hard and going up against tough odds years ago,there wouldn't even be a Teamsters Union today or 20 years ago.
    YRC can close the doors any day they want too for no reason,even if they had a $100 billion surplus of cash.So what makes any of you think that you have any job security by giving them back part of your money?I mean if the company chooses to close its doors just because they want too,you're still screwed on your pensions.They could also have 10 non union lines in the start up stages that they aren't making public yet.Because they are in the start up stages,they are actually considered started and thus wouldn't be covered as a breech under the agreement that so many want to vote in.
    If most of you really took a good look at the entire picture and were honest with yourselves,I think you'd agree that YRC can't be as bad off as they want us to beleive.But the simple fact that they instill fear into us,most are willing to give in without any sort of security.
    How many of you would like to give 2% of your pay for the next 2 years to help payoff my debt?
    Amen Brother nice post But I think there are just a few of us that feel that way. Just my two cents I was told today by mangement that not to worry about servicing the customer all we want are numbers thats all that matters.
    Yes I Know all you guys who know we need to take care of the investors but we are in the service business, RIGHT! I'm here in Kansas City were the glass house is . I hear all kinds of stuff ! Most or all my supervisors and SOMS basiclly tell us everything they hear. JM2cs

 

 
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