I see yellow ( yrc ) is moving.

Yup $750 million government bailout. The government received shares in exchange for the money, basically like what happened to GM in the previous recession.

 

Wirh respect. Terrible comparison not because of company loyalty or principle, but because of the delineation of structure.

Let me explain.

GMC didn't need a bailout because they sell crap products that nobody wanted to buy. The economy tanked and they needed a lifeline to stay afloat.

Here is YRC position:

We number 1 transport company in all of US. We also have number one contract moving time sensitive material from one plant to another for military contract.

You don't give us money, we no longer move parts for military equipment and you lose 20k jobs per state and the Teamsters that run the labor portion of the company will turn on you.

 

I mean, they're not the number one transport company by a long shot. They've been hovering around number six in overall transportation, and third in LTL behind FXF and XPO.

And 20k employees per state? Unless you were speaking to some overall economic crash butterfly effect that's never been seen from a trucking company's failure, YRC only employs about 32,000 people total.

It's a very large company. Don't get me wrong. But absolutely vital, and too big to fail? Highly debatable.

I'm a Teamster. I love my brothers and sisters. But what has occurred at YRC over the last 15 years is a complete mystery. I don't think they'll ever turn a profit.

 

You are factually right. But the way I described it is how they explain it to the politicians that don't know any better. YRC grossly inflates their success and importance along with the negative impact on the labor force and economy if we go down.

What baffles me is that all the regionals are profitable. The government should have stepped in and said "no bailouts for you. Sell off your regionals to other LTL carriers that know what they are doing and use the proceeds to save your dumb parent company that can't balance a checkbook. This is a free market and you aren't too big to fail, you are just too dumb to stay afloat and need to go".

YRC should have never acquired the regionals, but now they are dragging all of us down together.

 

Ohhhh. I get what you were doing. I didn't think you worked for yrc, so I was a little confused anyway.

 

Yeah sorry, I was kinda using hyperbole initially. But I am also a Teamster and also have YRC signing my paychecks. It's not a company issue, it's a management issue and how they allocate financial resources.

 

You mean when management just keeps most of the money? Yes.

 

If YRC needs my taxpayer dollars to operate, they need to close the doors! The junk that they run shouldn’t be on the road! I think they are in bed with Pickle Park Pete!

 

Most companies we work for these days are supported by your tax dollars whether through outright welfare or tax deals. Let's not get all conservative in the Corporate States of America NOW. Look how far these jobless Wall Street recoveries have gotten us!

 

I semi agree with you. Most LTL gets a trax break or some kind of subsidies, but YRC literally got a giant cash advance in the tune of $700,000,000.

The correct move is to find the barn with the most jacked up and antiquated equipment and replace it with new stuff. All that cash infusement should stir the entire pot and have an impact from the bottom terminals all the way to the top.

Did any of this happen? Nah. I work at the bottom. My 1.8 million mile truck breaks down once or twice a week. Then juxtapose this to management that shows up in their Bombardier Learjets once a year to lecture us on the importance of driving safely.