Yellow

[I have NOT been lurking]

I hope this makes SOB think a little bit. Choose the right battles, know when to attack know when to concede (if he knows how to)

22,000 Teamster families will have no benefits or job. And Teamsters have 22,000 less dues.

Yellow Corporation facing union strike after layoffs

Nearly 30 people in the city of South Bend recently laid off at Yellow Corporation, the fifth largest shipping company in the nation.That's ahead of a planned s

wsbt.com

Typical stupidvisor

 

[anonymous23456]

Is there any where I can read about what happened at Yellow? What caused their demise?

Never mind. Yellow have been skirting bankruptcy numerous times since the 90s. That company can't figure out how to break even either. That is insane.

I'm sure CEO and upper management at Yellow fill their wallet with money that they don't need a job to live. The Union and Shareholders hold the bag (empty bag). I bet some stock traders make money shorting the company over the years!

This is an example of scam that I have seen happening over and over with many companies in this country!

 

[Up In Smoke]

And how many years did you work in freight ?

I also find it funny how people forget it takes two sides to have an agreement. Yellow obviously had company reps in contract negotiations and on the health and pension funds. Taking a company in the early 2000's worth 430K per share to one worth $1 today has more to do with corporate mismanagement than organized employees asking for a livable wage and benefits.

 

[UPS1907]

Typical stupidvisor

More name calling. That's original.

 

[govols019]

The beginning of the end...

Yellow buys rival trucking company Roadway Price in cash, stocks totals nearly $1 billion

Trucking giant Yellow Corp. on Tuesday agreed to buy rival Roadway Corp. for $966 million in cash and stock, a large premium in a deal that would further consolidate an industry plagued by bankruptci…

www.oklahoman.com

 

[Brown Down]

More name calling. That's original.

well when you make stupid comments without knowing context than is it really name calling? Yellow's mismanagement has very little if any to do with the workers and everything to do with corporate stupidity. Instead of taking those loans to keep afloat they gave themselves raises for tanking a company. And yet you saySOB should watch how he deals with businesses. Give me a break.

 

[Arizax2]

I've been going down the rabbit hole looking up Yellow on LTL forum and surprised to find out how many people are actually pissed at SOB. It's clear that Yellow employees are clearly and disgustingly underpaid but folks that's been around for awhile sees the writing on the wall that Yellow is going down and to have something is better than nothing as the company goes through restructuring. To my understanding they only have 100 million on hand and they have to put 50% of that in the pension fund by the due date.

From what I read the company provided a proposal to SOB and he refused to communicate with them. No negotiations are taken place and the company is asking to meet with him but he's not picking up the phone. Seems like they are begging for atleast a counter proposal but not even getting that. There's videos of the VP of operation going to buildings pretty much begging the workers to get SOB to pickup the phone because is going down hill fast for them and it's only a matter of time before they file for bankruptcy. The VP passed out the proposal to the works to see for themselves. The workers on the video is pushing back heavy which is understandable and they are rolling their dice with SOB. The company then filed in court to stop a potential strike but looks like their lawyer royally screwed up and filed it in the wrong court causing it to get dismissed. The judge said that the Teamsters won this battle but may loose this war. Yellow is a publicly traded company so their financial struggles is out there for the public to see.

In the Yellow forum there's a ton of folks that believe SOB is only focused on UPS and not Yellow. He needs to make sure he doesn't over play his hand because 30,000 Yellow jobs are on the line. I think they will strike and at that point it's a wrap for the company and it's people. I doubt they could survive a couple of days of a strike if all they have is 100million in the bank. Reality is Yellow management ed up badly and mismanaged funds but at this point its a do or die situation but seems like SOB is calling their bluff.

 

[BigUnionGuy]

I've been going down the rabbit hole looking up Yellow on LTL forum and surprised to find out how many people are actually pissed at SOB. It's clear that Yellow employees are clearly and disgustingly underpaid but folks that's been around for awhile sees the writing on the wall that Yellow is going down and to have something is better than nothing as the company goes through restructuring. To my understanding they only have 100 million on hand and they have to put 50% of that in the pension fund by the due date.

From what I read the company provided a proposal to SOB and he refused to communicate with them. No negotiations are taken place and the company is asking to meet with him but he's not picking up the phone. Seems like they are begging for atleast a counter proposal but not even getting that. There's videos of the VP of operation going to buildings pretty much begging the workers to get SOB to pickup the phone because is going down hill fast for them and it's only a matter of time before they file for bankruptcy. The VP passed out the proposal to the works to see for themselves. The workers on the video is pushing back heavy which is understandable and they are rolling their dice with SOB. The company than filed in court to stop a potential strike but looks like their lawyer royally screwed up and filed it in the wrong court causing it to get dismissed. The judge said that the Teamsters won this battle but may loose this war. Yellow is a publicly traded company so their financial struggles is out there for the public to see.

In the Yellow forum there's a ton of folks that believe SOB is only focused on UPS and not Yellow. He needs to make sure he doesn't over play his hand because 30,000 Yellow jobs are on the line. I think they will strike and at that point it's a wrap for the company and it's people. I doubt they could survive a couple of days of a strike if all they have is 100million in the bank. Reality is Yellow management ed up badly and mismanaged funds but at this point its a due or die situation.

Thanks for all that info.

 

[I have NOT been lurking]

I've been going down the rabbit hole looking up Yellow on LTL forum and surprised to find out how many people are actually pissed at SOB. It's clear that Yellow employees are clearly and disgustingly underpaid but folks that's been around for awhile sees the writing on the wall that Yellow is going down and to have something is better than nothing as the company goes through restructuring. To my understanding they only have 100 million on hand and they have to put 50% of that in the pension fund by the due date.

From what I read the company provided a proposal to SOB and he refused to communicate with them. No negotiations are taken place and the company is asking to meet with him but he's not picking up the phone. Seems like they are begging for atleast a counter proposal but not even getting that. There's videos of the VP of operation going to buildings pretty much begging the workers to get SOB to pickup the phone because is going down hill fast for them and it's only a matter of time before they file for bankruptcy. The VP passed out the proposal to the works to see for themselves. The workers on the video is pushing back heavy which is understandable and they are rolling their dice with SOB. The company then filed in court to stop a potential strike but looks like their lawyer royally screwed up and filed it in the wrong court causing it to get dismissed. The judge said that the Teamsters won this battle but may loose this war. Yellow is a publicly traded company so their financial struggles is out there for the public to see.

In the Yellow forum there's a ton of folks that believe SOB is only focused on UPS and not Yellow. He needs to make sure he doesn't over play his hand because 30,000 Yellow jobs are on the line. I think they will strike and at that point it's a wrap for the company and it's people. I doubt they could survive a couple of days of a strike if all they have is 100million in the bank. Reality is Yellow management ed up badly and mismanaged funds but at this point its a do or die situation but seems like SOB is calling their bluff.

Then they need to butcher their management structure and the CEO should be willing to cut his pay if he really cared

 

[Arizax2]

Then they need to butcher their management and the CEO should be willing to cut his pay if he really cared

They already did on the VP level apparently and I belive they fired their previous CEO. Doesn't seem like this CEO is well liked either. They apparently are still restructuring but doesn't seem like it can happen quick enough. Everyone down the line will need to take paycut and benfit cuts. Apparently they are trying to sell off facilities to cover their debts. It's going bad for them.

 

[I have NOT been lurking]

"This Company Is Likely Done": Yellow Truck Drivers Ponder Next Moves Amid Potential Bankruptcy | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[RangerMan06]

Then they need to butcher their management structure and the CEO should be willing to cut his pay if he really cared

I think the DOJ needs to have an internal audit of the company. Just to make sure they didn't deliberately lose the money in order to break the union and manipulate the stock price. That may put an end to any thoughts or plans that Aunt Carol has here at UPS

 

[Arizax2]

I think the DOJ needs to have an internal audit of the company. Just to make sure they didn't deliberately lose the money in order to break the union and manipulate the stock price. That may put an end to any thoughts or plans that Aunt Carol has here at UPS

For a American company like Yellow and how important they are for the country, the government should step in a figure out what the hell is going on. To my understanding they purchased LTL companies that were profitable but once they got their hands on them their business went to . They also received a government bailout which apparently was spent. The company seems to be a money pit.

 

[Staydryitsraining]

It really sounds like most of the problems with freight and pensions loosing money all started in the 80s 90s? I mean if ups couldn't make money with freight I think it's only a matter of time before the whole industry evaporates.

 

[DELACROIX]

I think the DOJ needs to have an internal audit of the company. Just to make sure they didn't deliberately lose the money in order to break the union and manipulate the stock price. That may put an end to any thoughts or plans that Aunt Carol has here at UPS

Far too busy chasing Trump…

 

[RangerMan06]

Far too busy chasing Trump…

Sad but true lol

 

[Thebrownblob]

The beginning of the end...

Yellow buys rival trucking company Roadway Price in cash, stocks totals nearly $1 billion

Trucking giant Yellow Corp. on Tuesday agreed to buy rival Roadway Corp. for $966 million in cash and stock, a large premium in a deal that would further consolidate an industry plagued by bankruptci…

www.oklahoman.com

Yeah, that was the Teamsters fault some people like to believe. But you are correct buying all these other companies made absolutely no sense in the early 2000s.

 

[HarryWarden]

Yep and apparently some people who have no idea believe it. Sad when a bunch of corporate vultures can make hard-working men and women who have sacrificed for more than a decade look like the bad guy.

I’ve been wondering if this teamsters led strike of a company about to bankrupt shortly after will hurt our public image in the eyes of the uninformed? “Look at what the union does! Make unreasonable demands, go on strike and soon after the company goes bankrupt!”

Oh well, I guess there will always be uninformed people out there, but I can definitely see anti-union people using yellow as an example for ups and use it to prevent unionization of other companies like Amazon, even if they’re completely wrong

 

[HarryWarden]

Not sure there, The road to Yelllow destruction started a long time ago. Employees probably felt invincible like UPS.

“Not sure there”

In other words “everything you just said makes complete sense and I don’t even have a response, but stop being mean!”

 

[HarryWarden]

So is the answer to lose everything or take some form of cuts? Something is 100% better than nothing. SOB didn’t teach them a lesson, he was schooled on reality. Let’s all hope he learned and not make the same mistake twice

So why didn’t executives take pay cuts?