YRCW article

If YRC sold their regional segment it may be enough to get them out of debt or drastically reduce their debt. Considering they're paying over $150 million yearly in interest alone, a large cash infusion may be just what they need.

 

If I'd of bought $ 420,000 worth of YRC in 2004, it'd be worth $12 today

 

They changed their website since last week, they are pushing for new drivers, mentioning their training programs.

They got rid of the guy they used to have at the top of the page (EDIT: wrong, he's still there on the jobs page, I was looking at recruiting) that looked like he wanted to pick a fight. Notice that they are trying for female drivers, maybe that's why he went away.

Reddaway positions have been added to the YRC listings. Change is afoot. The lifeboats being rearranged.

 

The Teamsters union as a whole does not give money to any political candidate. We have the option to donate money as individual members to a super PAC that money is then disbursed to individuals that the international deems good for our members. There are many times that both republican and democrats receive money. For example, Rob Portman from Ohio is a republican and has received endorsements from our union and monies

 

CF was a whole different animal. They double breasted there freight into a non union company.

 

Yeah I think Celeadon has gotten rid of all of the Glenmore trailers with the TNT REDSTAR ghost lettering on them.

 

He has saw a commercial on TV yesterday where the Teamsters here in Ohio said they were pulling for Rob Portman.

 

That's because Rob Portman is one of the few Republicans who cares about those guys losing their pensions. He's pretty active in that Central States issue.

 

Oh wow.... This is one tin of worms you guys probably should have left shut. Cause now I am gonna chime in.

YRC is THE most mismanaged transportation company in existence. The only reasons they are still afloat is because of all the profits they siphon out of all their regional companies like Reddaway, Holland, New Penn, ect.

I work for USF, and every week one of the old timers would talk about how great we once were. Freight galore, everyone knew everyone, five year waiting list just to get a job with us, and people were not only making bank, but they were happy with their jobs.

Sad thing is these good ol' days weren't event that long ago. 8-9 years back when YRC (one of the most financially incompetent companies) decided it was a good idea to buy us out. It's like being so broke you can barely scrape by, then taking out a loan from your Ramen noodle budget to have a steak dinner.

First thing they did is put their financial burden on us. Everyone tighten your belts and take a 15% pay cut. That didn't work. So they screwed up the retirement plan, that didn't work either. Let's shut down terminals! That barely stopped the hemorrhaging of their financial incompetence. They eliminated jobs (do more with less) then screwed us some more three years ago when everyone lost a week of vacation. My own terminal manager calls them "the boat anchor that is sinking all of us'.

Keep in mind, none of us regional carriers were in the red before YRC bought us out, yet now we have more debt than all five other major LTL carriers combined. This is not a union/non union issue... This is an issue of a piece of crap parent company that does not deserve to be financed by anyone. And yes, there are some that will argue that YRC is in fact doing a little bit better. The reality of it is that YRC is in the exact same ocean of debt, only recently someone tossed them a ring and pointed which direction is land. This company is unsustainable and will probably sink within the next five to ten years.

Earlier poster on here mentioned that YRC destroys everything it touches... That is an understatement. YRC will never sell the regionals off. We are their cash cow and make them too much money. I could see someone more competent buying up YRC and everyone underneath them though. Which at this point.... Would not be a bad thing.

 

so what does it say about the companies bought out by this financially incompetent monster? if they were all so steady and profitable they never would've agreed to sell.