Results 1 to 10 of 10
Like Tree5Likes
  • 2 Post By Kickass
  • 3 Post By tiredseat

Thread: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

  1. #1
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    40,811
    Rep Power
    895

    Default YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    "This has been a long, two-year journey that started with shedding non-core assets which led to an intense focus back on our core business -- North American LTL. Now, with improved results, renewed focus on our people and our processes, and support from our single largest partner, we are at the stage where we can finally address the bloated balance sheet that we inherited when we took over in July 2011.We have pursued a deliberate strategy to improve both our operations and our balance sheet, and we will constantly work to improve margins and returns for our investors. This agreement and our contemplated financings will be the final hurdle we need to clear to have a strong, stable business, which will provide great value for our stakeholders, job security for our employees and improved service for our customers," added Welch.
    The company anticipates that the ratification process will be completed on January 8, 2014 and expects the IBT will announce results soon thereafter.
    YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy - Yahoo Finance

  2. #2
    I Am Rocking Now

    Join Date
    Jul 2011
    Local Union
    952
    Employer
    YRC
    Location
    SoCal
    Posts
    4,709
    Rep Power
    159

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Everyone needs to read the latest 8K, there are no guarantee's even if they get a yes vote.

    Summary of YRC WORLDWIDE INC. - Yahoo! Finance

  3. #3
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    15,529
    Rep Power
    337

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by Kickass View Post
    Everyone needs to read the latest 8K, there are no guarantee's even if they get a yes vote.

    Summary of YRC WORLDWIDE INC. - Yahoo! Finance
    There are only 2 guarantees in life ... death and taxes.
    Many will have a hard choice to make and I understand both sides.

  4. #4
    I Am Rocking Now

    Join Date
    Jul 2011
    Local Union
    952
    Employer
    YRC
    Location
    SoCal
    Posts
    4,709
    Rep Power
    159

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by fxstc07 View Post
    There are only 2 guarantees in life ... death and taxes.
    Many will have a hard choice to make and I understand both sides.
    I see no hard choice here, *&%k yrc, they're getting a no vote from me.
    Spaghetti and roadhog like this.

  5. #5
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    15,529
    Rep Power
    337

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by Kickass View Post
    I see no hard choice here, *&%k yrc, they're getting a no vote from me.
    I understand where you are coming from. I no longer have a say in this, but you must remember those who may not have any other income, live in areas with high unemployment, etc.
    The old saying "between a rock and a hard place" comes to mind.

  6. #6
    I Am Rocking Now

    Join Date
    Jul 2011
    Local Union
    952
    Employer
    YRC
    Location
    SoCal
    Posts
    4,709
    Rep Power
    159

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by fxstc07 View Post
    I understand where you are coming from. I no longer have a say in this, but you must remember those who may not have any other income, live in areas with high unemployment, etc.
    The old saying "between a rock and a hard place" comes to mind.
    They in turn have to remember us who live in high cost of living areas, we can't afford another hit to our wallets, a $1.20 raise over 5 years will not cut it.

  7. #7
    Retired !

    Join Date
    Feb 2009
    Local Union
    107
    Employer
    Retired - New Penn
    Location
    South Jersey
    Posts
    15,529
    Rep Power
    337

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by Kickass View Post
    They in turn have to remember us who live in high cost of living areas, we can't afford another hit to our wallets, a $1.20 raise over 5 years will not cut it.
    I understand that to. I live in a high cost area, but with high unemployment too.
    Every person must weight their decision on how it may affect their family first.
    The only winners here will be management and the banks.

  8. #8
    I Am Rocking Now

    Join Date
    Jan 2008
    Local Union
    641
    Employer
    new penn
    Location
    Northeastern PA
    Posts
    23,479
    Rep Power
    0

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    I believe they have everything in place and this is all about the ABF concessions... This all started with Zollars and the UPSF contract..

  9. #9
    hangin on

    Join Date
    Jun 2009
    Local Union
    287
    Employer
    yrc
    Location
    Hayward , Ca.
    Posts
    797
    Rep Power
    150

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    All the teamsters in the cities are on life support . These cuts may not have hurt smaller communities but they are killing the cities. No one will work at our terminal. They can't afford to ! We Have to vote no at our terminal .

  10. #10
    Steward

    Join Date
    Sep 2009
    Local Union
    554
    Employer
    ABF Freight
    Location
    iowa
    Posts
    2,326
    Rep Power
    366

    Default Re: YRC Worldwide Continues to Execute Long-Planned Refinancing Strategy

    Quote Originally Posted by crazy View Post
    I believe they have everything in place and this is all about the ABF concessions... This all started with Zollars and the UPSF contract..
    The question here is where will it all end. I'm sure that if these concessions get passed ABF too will be back with their hands out begging for more. I know there is a difference in the circumstances between the 2 companies but it's getting to the point to where we as teamsters are the laughing stock to the non-union carriers.

    How on earth will we ever get any companies to join the teamsters and even if we should get new companies we all know that every contract from now on will be seperate contracts for each company and what good does that do for any of us in the long run.

    All I can really say is good luck to all employees at the YRC companies that must once again make this choice.
    ABFwife, 222lifer and roadhog like this.

 

 

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349