YRC layoffs

Dahlman Rose analyst Jason Seidl says
Bottom Line: Sell
This could be the best piece of news YRC can claim for some time, and today's move could represent as good an exit point as will come down the pike for a while.

http://www.smartmoney.com/Investing/Short-Term-Investing/Stock-Picks-YRCW-up-M-down/?afl=yahoo

 

Analyst David Ross of Stifel Nicolaus lowered his rating on the Overland Park, Kan.-based company to "Sell" from "Hold."

Ross wrote in a client note he does not believe a plan approved last Friday by workers to cut wages and make other concessions will be a long-term fix for the company's "financial, operational and competitive problems."

Bankruptcy is not imminent, he said, "but we do believe it is becoming increasingly likely." YRC Worldwide should remain in business probably at least into this year's fourth quarter, Ross said.

"While we have tried to be more constructive on YRC, as many have piled on the bankruptcy bandwagon, and have looked for ways the company could survive, the seemingly constant need to amend its credit agreement and continued failure to meet already dismal cash flow and earnings expectations leads us to believe there is no 'turn' around the corner," he said.

http://finance.yahoo.com/news/Ahead-of-the-Bell-YRC-apf-1092346602.html?x=0&.v=1

 

15 guys sent home on layoff today on the dock. the city drivers are going to 10hr shifts. time are getting bad.

Mudcat. Atlanta

5 more off the road today too mud_cat....that makes 200 road drivers left out of 370...yard looks like a ghost town....very sad!.... KK

7 drivers laid off in the past 2 weeks. foreign power still kicking our butts while Tom does nothing. Hes now harrassing the relay staff by constantly changing there work schedules. gotta give him this.... at least hes an equal oppurtunity harasser. I look for them to scale back opps in cincy to that of a satellite. to many terms running into us. average extra board millage 1200 to 1700 a week. #### near a part time job
Little Indian. Cincinnati

2 road drivers laid off at Louisville (244) effective Midnight Saturday night. 09/05/2009. (Myself 1 of the 2)
Now leaves only 5 drivers at 244. (5 total bids) Which is 1 driver to each of the bids each night.
Top man to retire 9/28/2009. And the second man with 34 years to retire end to October to mid November.
KYRFO

Indy called back 21 2 weeks ago, laid 6 back off effective today. I hope they didn't quit any jobs to come back.
CDLguy

 

i went into a customer today..he told me yrc's rates have dramatically decreased by at least 10% over the last year without a increase in his discount....he asked how it was possible.......i just shook my head...we need to make money
and not haul the freight for free!!!!!!!
IMOVAHERENOW

 

http://news.moneycentral.msn.com/provide...

YRC Worldwide (YRCW 2.53 +0.27) was rumored to receive some sort of credit pact from the Dept of Transportation. YRCW has been suffering from liquidity issues and there have been bankruptcy concerns for some time now. The stock's movement has been news driven lately with credit amendments and Union concessions making the headlines. Regardless of whether or not the rumor makes sense, YRCW is trading up 12% today on heavy volume...

 

YRC Worldwide Inc. (YRCW)
Sep 11: 3.66 0.61 (20.00%)

YRC Worldwide, Inc.

(NasdaqGS: YRCW)
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Last Trade:3.66Trade Time:Sep 11Change: 0.61 (20.00%)Prev Close:3.05Open:3.19Bid:0.48 x 100Ask:N/A1y Target Est:2.33Day's Range:3.13 - 3.6852wk Range:0.89 - 19.02Volume:24,760,441Avg Vol (3m):7,583,130Market Cap:217.91MP/E (ttm):N/AEPS (ttm):-26.31
*******************************************************
I bought into AXL in the 1.3o's, within 2 weeks I cashed out in the 2.5o's, happy with my profit and planning to buy back when it dipped again.
Now, here comes the drama... I then watched in disbelief and hopelessness as the share price rose to OVER 6.oo dollars in the following three little DAYS.

If anyone has been following AXL then you know that today they hit 8.oo dollars a share. Check the chart folks, this all happened in the last 30 days. Funny thing is I kept a few shares on the house but decided to sell those off to, at 2.92, to buy another stock.

YRC reminds me of AXL.....same credit problems, same bk issues, loosing customers, and same negative outlook for too long. Now look at AXL...

WOW. WHAT A DIFFERENCE A MONTH CAN MAKE !!!

I see this happening with YRCW. And, YRCW is a bigger company, with bigger market share, with more assets and more earning potential than AXL.

In position to rebound strong.

good luck

-George Stockjock7
******************************************************
YRCW and AXL have similar pct short: roughly 30%. Does anyone know the trigger point(s) for the next short squeeze relative to today's $3.67 close?

What would make it fly like AXL did, which went up from $1 to $7 in a couple of weeks?

hnwinvestor

 

at 402 we have a total of 377 people on the dock and the city. before the merger we had 345 people on our board, and all but 20 were working and getting all the overtime they could stand. even the laid off guys got at least 3 days a week. now we merge two of the best ltl companies together, and instead of running every one out of buisness. we are running ourselves in the ground.

the bid went up this week and its hitting home hard! we had laid off 13 dock last week, laid off a few more after the holiday and the bid goes up. ARE YOU READY? of the 377 people on our seniority list yrc bid only 210 jobs ,bringing the total of lay off to 167 people in the streets after this bid.

no one is motivated to work, the dock is in chaos thanks to management. they are running up and down the dock harrasing everyone in sight. if you are cought talking, you will recieve a letter for your actions. the dock is covered with trailers that look like bombs had gone off inside of them. every thing is screwed up!

the laid off guys get 1 day a week of work and thats not all the laid off guys ! only the top 50% of the layoff guys get called in to work. the rest are left to their own devices.

we have got to find a middle ground to work or else we are doomed! i dont knoe=w if the other barns are the same but today has open my eyes. i wont be going in to work weekends any more. they are looking to fire as many people as possible here.

mudcat*************************************************

218 /257
I heard today that YRC whacked another 7 dock/yard, and 8 more road drivers! This is not good considering September freight usually starts picking up! I hope this doesn't continue the rest of the month! The quarter isn't going very good so far!

freightmaster1*******************************************

1 more layed off at 211 they gave me my layoff notice on returning to terminal this afternoon ,said due to economic reasons.
The only reason is YRC One slow week and they cannot wait to lay someone off ,previous weeks they run out of x-board drivers nightly .

This way they can run 218 drivers in there when they exhaust the board.

xcsp*************************************************

just come from Camden NJ; Place was practically shut down. The Terminal Manager said it's real slow up there and all the Salesman walked out yesterday and Today. If they took business with them it's not going to be a nice ride.

tbmike*************************************************

Nashville layed off 11 more last friday from the dock !! Thats 21 layed off in 2 weeks time !! I am now 4th from the bottom of the board !! This will be second time i have been layed off since july !!

scotmac0***********************************************

over 120 layed off # 509 Dallas with a threat of 50 more......also over 300 road drivers laid off!

unknowntrucker*******************************************

 

YRC Worldwide, Inc.
Last Trade:4.07Trade Time:4:00pm ETChange: 0.41 (11.20%)
Prev Close:3.66
Open:3.44
Bid:4.07 x 2200
Ask:4.07 x 1800
Day's Range:3.40 - 4.5852
wk Range:0.89 - 19.02
Volume:24,791,857
Avg Vol (3m):7,583,130