Random LTL Rants (all are welcomed)

For what it's worth, as soon as I made my last post, I ran into the shop steward. He said that he heard that YRC is making payments on the $75 million it has fallen behind on. Something along the lines that YRC tried to make our issues seem worse to get some of that Covid-19 relief money the government has been throwing around. Not sure if they actually got money or if their bluff was called, but either way, supposedly they are making payments.

And yes, YRC has been going bankrupt since the mid 90's. As my old Reddaway TM said, they are the boat anchor that is sinking all the regionals. I honestly think that when (not if) YRC does file for bankruptcy protection, they will be forced to sell their regionals.

It would be insane to unemploy tens of thousands of drivers/managers/clergy/dock workers for three companies that are operating at a profit. All the regionals are doing fine. It's our parent company that is siphoning our money to bandage off financial losses when they really need to put a tourniquet on it.

It's been long rumored that UPSF had their eyes on both Reddaway and Holland. Let's see how that goes.

 

I agree with most of what you wrote. But I respectfully split away with the thought of the poaching element.

Of course there will be a freight vacuum if all of YRC collapses. But it would be far more manageable to buy out the existing regionals and keeping their name than to pick off their accounts while competing with everyone else.

1. You have the name recognition. Even YRC recognized that people didn't want to ship with them even though they owned the regionals. Simply doing a takeover from a previous competitor is a turn off for customers that already hate YRC.

2. Holland, Reddaway, and New Penn already have their operation and network set up and running at a profit. It's better to gobble them up.as a whole than to try to compete for their accounts.

Btw, I've been updating my resume. If this boat sinks, I already donned my lifejacket.

 

"Come on up bud, stairs are behind the bags of saw dust."

- No thank you. I'll walk around the building and cut through the office. Feel free to start loading.