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  1. #1
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    Default Shippers Support YRC Bailout

    Shippers Support YRC Bailout | Journal of Commerce

    NITL says federal aid could keep check on rising rates
    The National Industrial Transportation League said it supports YRC Worldwide’s request for $1 billion in federal aid as a way to keep a check on rising freight rates.

    “I think we would support YRC getting (Troubled Asset Relief Program) funding, because of the competition issue,” said Wayne Johnson, head of NITL’s highway committee.

    YRC Chairman, President and CEO William D. Zollars said the company will apply as early as May 15 for TARP money to help pay off an estimated $2 billion in pension obligations for union members.

    “Shippers are making alternative transportation plans with other carriers if they haven’t already, and I’m sure there are a lot of others that are signing back on with them,” Johnson said.

    “But maintaining competition has always been our stance in the freight industry; it’s our stance with the railroads as well. You get a carrier that size going out of business and there’s eventually going to be an impact on the pricing side. Most shippers have their contracts in place for 2009 and even into next year, so I don’t think there would be an effect on rates, but I think there will be when the economy comes back

  2. #2
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    Default Re: Shippers Support YRC Bailout

    and I’m sure there are a lot of others that are signing back on with them,” Johnson said.
    They are, I can tell, I pick them up.....

  3. #3
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    Default Re: Shippers Support YRC Bailout

    Quote Originally Posted by Teamster View Post
    They are, I can tell, I pick them up.....
    We haven't seen any YRC freight at all. We are slow and down to like about 2 sets a night, and last year at this time we were doing 5 sets a night easy. I'm talking freight out of worcester ma. All we have is 2 bid men coming up here and we cover all the freight they make. If they send even one extra board guy through here, I get left with no freight to go home with. It wasn't like that last year. So, no, we have not seen any of your freight here.

  4. #4
    Getting In The Groove Now.

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    Default Re: Shippers Support YRC Bailout

    Just checkin. Anyone know how the bail out works? any strings attached? They just give it out for the asking/ And must it be paid back? I thought the pension payments where contractual with the teamsters? sorry me no comprendee

  5. #5
    Proud To Be a Teamster

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    Default Re: Shippers Support YRC Bailout

    I work for UPS FREIGHT in 3-4 different areas daily and I haven't seen any NEW freight period. About 3 months ago management was looking for sales leads, in particular YRC leads. Our barn more or less told them to F theirselves!

  6. #6
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    Default Re: Shippers Support YRC Bailout

    Quote Originally Posted by ST JAY View Post
    I work for UPS FREIGHT in 3-4 different areas daily and I haven't seen any NEW freight period. About 3 months ago management was looking for sales leads, in particular YRC leads. Our barn more or less told them to F theirselves!
    Thanks, and I hope more UPS Freight guys are doing this for us. Most all are trying to pick us clean, and if we don't get our freight back then Zollars can do what ever he wants to, it won't last.

  7. #7
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    Default Re: Shippers Support YRC Bailout

    At CVE our freight has picked up in the last week. We have been busy.

  8. #8
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    Default Re: Shippers Support YRC Bailout

    Quote Originally Posted by graboltski View Post
    Just checkin. Anyone know how the bail out works? any strings attached? They just give it out for the asking/ And must it be paid back? I thought the pension payments where contractual with the teamsters? sorry me no comprendee

    I don't think anything has been worked out, they just filed the application. Some where I read that the teamsters suggested to Zollars that he apply for the TARP money. I don't know anything else.

  9. #9
    One More Time

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    Default Re: Shippers Support YRC Bailout

    “But maintaining competition has always been our stance in the freight industry; it’s our stance with the railroads as well. You get a carrier that size going out of business and there’s eventually going to be an impact on the pricing side. Most shippers have their contracts in place for 2009 and even into next year, so I don’t think there would be an effect on rates, but I think there will be when the economy comes back.


    And if YRC should fail look not only for freight rates to go up but Non-Union wages to go down or stay stagnant for a good long while....YRC succeeding is in everybodies best interest..

  10. #10
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    Default Re: Shippers Support YRC Bailout

    Quote Originally Posted by snortin nortin View Post


    And if YRC should fail look not only for freight rates to go up but Non-Union wages to go down or stay stagnant for a good long while....YRC succeeding is in everybodies best interest..
    I hope ABF is pulling for this also. In the next NMFA they will try to buy out of CSPF, because they can't tote the pension alone. It will drive them out of business possibly.

 

 
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