rumor about yellow roadway

Discussion in 'UPS Discussions' started by City Driver, Jun 10, 2009.

  1. City Driver

    City Driver New Member

    heard today that yellow roadway will "fold" on the 22nd on this month

    i know it wont affect you package guys to much but i figured id post this since they are our union brothers

    anyone hear about this? i know they have been struggling for a while (i came to UPS Freight when it was overnite from Roadway)

    and i talked to one on the guys about a month ago, he said the first 15 years of there seniority list is layed off right now
  2. SnowCitizen

    SnowCitizen Member

    I heard a rumor that massive chaos would occur on Jan 1, 2000 due to a computer systems meltdown of epic proportions.

    Still waiting for it.


    Best SportCenter commercial ever!
    Last edited: Jun 11, 2009
  3. brett636

    brett636 Well-Known Member

    I doubt this is true, but if it were it would be bad news for those guys in the local 710 pension fund like me. A good percentage of it's contributions come from YRC and could really damage that fund if they go belly up, possibly along with many other Teamster pension funds across the country.
  4. Highwayman

    Highwayman Member

    I think YRC going under will hurt all teamster pensions, no matter what fund you are in. Let's hope for the best!:anxious:
  5. pickup

    pickup Well-Known Member

  6. tworavens

    tworavens JuniorMember for 24 Years

  7. hondo

    hondo promoted to mediocrity

    Rumor has it Western Conference Pension Fund kicked YRCW out of Fund, effective June 10, 2009.
    I refer you to this memo posted by TDU, purportedly from Chuck Mack to affected Western Region Joint Councils and Locals:
  8. pickup

    pickup Well-Known Member

    Has anyone ever seen Hondo post anything that wasn't great and informative?
    Last edited: Jun 11, 2009
  9. alfa paver

    alfa paver New Member

    City Driver, why don't you ask that question in the YRC forum? There may have been somebody that heard it..but I doubt it :future:
  10. upssalesguy

    upssalesguy UPS Defender

    i know YRC just sold and leased back their corporate headquarters in Kansas. I really can't see them staying in business much longer if the economy doesnt skyrocket up.

    them folding would really help the entire transportation industry, and especially UPS. They have are 30.9% of the total LTL marketshare....and of that, probably 25% of those packages could go UPS ground/hundredweight/GFP.
  11. 1989

    1989 Well-Known Member

    Heard last month that they were going to ask for $1B in tarp money to stay afloat and faces an estimated $2 billion in pension obligations over the next four years. I fear that somehow UPS will end up with the pension bill.
  12. upssalesguy

    upssalesguy UPS Defender

    UPS made a one time deposit to the central states fund of $6.1 billion and I believe allows UPS to not have to shoulder that burden anymore.
  13. BrownSuit

    BrownSuit Active Member

    This would make sense since the Western Conference sent them to collections for two months of unpaid contributions.

    The TARP request is very true. As for the affect on UPS, This is part of the reason for UPS backing away from its pension obligations and putting it in the hands of the teamsters. Ala Central States buy-out. I wouldn't expect UPS to be affected on the Pension front, the IBT on the other hand . . .

    YRC just sold their corporate headquarters for 22.5M and then leased it back at a cost of 3.4M annual in lease payments. They have generated 200M+ in similar sales of their buildings only to lease them back. This is very shortsighted as a company as many of these properties (including their corporate HQ which appraised for 2.5M more) are being sold well below market value.

    Bottom line, submit leads for Freight. If you see a freight truck, submit a lead. I'm not going to lie to you, it's going to be very hard to get sold, but there are a lot more opportunities out there, it should be like taking candy from a baby.
  14. bubsdad

    bubsdad "Hang in there!"

    As I posted in another thread, we have supes at our building training new hires for freight. I was told by our BA they are hiring 18 triples and 20 doubles drivers in Toledo. One of the supes that is doing the training told me freight authorized the hiring of 100 drivers east of the Mississippi. Last month they enhanced 70 lanes out of Kansas City. Seems they are banking on the financial problems of YRC.
  15. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

  16. BrownSuit

    BrownSuit Active Member

    It was late at night :knockedout:

    It's going to take more leads to get a sold lead for Freight, but there are enough prospects out there that it should be like taking candy from a baby. Especially with the direction of the company being FedEx and Freight right now.
  17. 705red

    705red Browncafe Steward

    Yrc is in serious trouble. And as DHL did they are crying that the economy is behind it. Which is true to a point. Bill Zollars is the CEO and has run that company into the ground. The teamsters have already agreed to an immediate 10% cut in pay several months ago and Zollars gave out bonus's to higher management people.

    To add injury to insult YRC has a section on each employees paycheck showing weekly and yearly totals what they have given back to help the company stay afloat.
    Like Hondo had posted the Western conference has stopped giving pension credit, and so has central states and others are following suit.

    I know alot of YRC's drivers and they are not willing at least in these parts to continue to give back when their brass keeps taking.
  18. pickup

    pickup Well-Known Member

    maybe management already sees the cow is going to die, and they are just trying to get as much milk from the teat before it does. One way to do that is to tell the drivers "wait in line, your turn will come". I don't think their turn is coming.