YRC loses $736 million in 4th quarter

YRC loses $736 million in 4th quarter

There are 49 comments on the Akron Beacon Journal story from Jan 28, 2008, titled YRC loses $736 million in 4th quarter. In it, Akron Beacon Journal reports that:

YRC Worldwide Inc., the biggest U.S. trucking company and the parent of Roadway operations in Akron, reported a $736 million fourth-quarter loss as it wrote down the value of two acquisitions.

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I know why

United States

#1 Jan 29, 2008
It's the Union's fault!
Mick

Akron, OH

#2 Jan 29, 2008
Not a good sign, as the trucking industry is a traditional bell weather for the rest of the economy.
Mark

Herndon, VA

#3 Jan 30, 2008
after these guys go under, how many union carriers will be left? union busting at it's best. In 2000 we had the big 3; CF, Roadway and Yellow. CF, rip, who will be next?

Regional carrier? Does anyone still think you can make a go of it with that concept?
very interested

United States

#4 Jan 30, 2008
Mark wrote:
after these guys go under, how many union carriers will be left? union busting at it's best. In 2000 we had the big 3; CF, Roadway and Yellow. CF, rip, who will be next?
Regional carrier? Does anyone still think you can make a go of it with that concept?
FIRST OF ALL they WILL NOT go under they will line up their ducks and be kicking A$$ as soon as the times get a little better
GHOSTRIDER-OCEAN A

Portsmouth, VA

#5 Jan 30, 2008
THEY NEED A GOOD SUPERBOWL AD ....with willy nelson and his bio-diesel!

“Trucking Is Not A Job-Its Life”

Since: Jun 07

Richmond / Colonial Heights,VA

#6 Jan 30, 2008
Clearly people don't read the news. they have been saying for months that they were going to lose a bunch of money in the 4th Quarter and the 1st Quarter of this year. because they had to re-adjust the debt of the companies they aquired. they are perfectly fine and as soon as they fully intergrate Roadway and USF into thier system. you need to remember they still need to deal with outdated equipment and close overlapping terminals. no one in trucking is surprised about that announcement.
GHOSTRIDER-OCEANA wrote:
THEY NEED A GOOD SUPERBOWL AD ....with willy nelson and his bio-diesel!

“Trucking Is Not A Job-Its Life”

Since: Jun 07

Richmond / Colonial Heights,VA

#7 Jan 30, 2008
Sorry Ghostrider. the comment was not ment to be forwarded off your comment.
GHOSTRIDER-OCEANA wrote:
THEY NEED A GOOD SUPERBOWL AD ....with willy nelson and his bio-diesel!
Midnightrider

Geneva, IL

#8 Jan 31, 2008
Mark wrote:
after these guys go under, how many union carriers will be left? union busting at it's best. In 2000 we had the big 3; CF, Roadway and Yellow. CF, rip, who will be next?
Regional carrier? Does anyone still think you can make a go of it with that concept?
I had relatives who worked for CF for many years. The company would have survived but became a very unusual victim of 9-11. They were self-insured for minor to mid size accidents, but had underwriters for big amounts. The insurance underwriters required a large amount in an escrow account to cover CF liability up to where actual insurance would take over. Instead of cash, CF escrowed a bunch of their own stock. This had worked well for many years and it saved the company paying interest on that money. CF stock had been relatively stable for many years. However, right after 9-11-01, the entire stockmarket went way down, including CF stock. All of a sudden the stock they had put down in escrow instead of cash wasn't worth enough. The insurance underwriters needed over 7 million more in cash or they would not continue their coverage. CF couldn't get the cash and the rest is history. Had they cashed the stock on 9-10 they might still be around. 9-11 was terrible, and the finantial ripple effects wiped out a lot of peoples finances.
ummm ahhh

Mansfield, OH

#9 Jan 31, 2008
Mark wrote:
after these guys go under, how many union carriers will be left? union busting at it's best. In 2000 we had the big 3; CF, Roadway and Yellow. CF, rip, who will be next?
Regional carrier? Does anyone still think you can make a go of it with that concept?
BRAVO to you,your RIGHT!
lay-offs

United States

#10 Jan 31, 2008
If YRC is in trouble then why do they lay off people that need there job, and then give everyone else that is not lay-off all the over time they want can someone please explain this to me. P.S. the pay for overtime is 33.39 an hour why would you pay the overtime instead of bring people back and pay them regular time instead of overtime. If YRC goes under it's there own fault!
mikeeee

Saint Louis, MO

#11 Feb 1, 2008
if any of these posts are submitted by employees.....

just do you job, collect your good paycheck and la di da.

c'mon, it's a no brainer the whole friggin' country is slow and we just happen to be first in line to feel it.

since xmas, i've noticed that my trailers are getting heavier hopefully, they will start having to load more trailers and put guys back to work.
JUST FINE

United States

#12 Feb 2, 2008
YRC is just fine ---to lay-offs : if we HAVE TO EXPLAIN ARE YOU sure you WOULDGET IT
lay-offs

United States

#13 Feb 4, 2008
Dont you worry I get it, but really what bothers me the most is my so called (UNION BROTHERS) are the ones that are not sticking together. If no one would work the overtime, it would force the company to bring people back.

“You don't know me.”

Since: Jan 08

LA

#14 Feb 4, 2008
lay-offs wrote:
If YRC is in trouble then why do they lay off people that need there job, and then give everyone else that is not lay-off all the over time they want can someone please explain this to me. P.S. the pay for overtime is 33.39 an hour why would you pay the overtime instead of bring people back and pay them regular time instead of overtime. If YRC goes under it's there own fault!
It is more than just the hourly pay. There are benefits, taxes, unemployment, etc. Don't take it personally. They know what the best decisions are based on the bottom line.
keydreamer

Hillsborough, NC

#16 Feb 6, 2008
To LongHaul Driver's comment "they are perfectly fine and as soon as they fully intergrate Roadway and USF into their system":

They started integrating Roadway into their system in 2002...USF not long after. Trouble with that is they're still spinning in circles trying to figure out the right way to do it. It's by trial and error...and the errors are costly.
whome

Riverside, CA

#17 Apr 23, 2008
I know why wrote:
It's the Union's fault!
The union just gave them major concessions and it is their fault? Maybe you should look at how badly they have mismanaged their subsidiaries, taking them from long records of profitability to losses.
whome

Riverside, CA

#18 Apr 23, 2008
Kent Dawg wrote:
<quoted text>
Hopefully NONE!! They've destroyed GM, Chrysler and Ford. These companies have been forced to use cheap materials so they can pay these AH's huge salaries whether they work of not. The folks who first started the union movement, would kick the ASS*S of the current union members.
labor represents a small percentage of the cost of automobiles. you are perpetuating a myth. if it were true, why did automobile prices not plummet when the automakers began moving production out of this country (thank you NAFTA)?
whome

Riverside, CA

#19 Apr 23, 2008
as to YRC's integration of USF...by the time they have accomplished that they will have put USF out of business. who will they buy next? YRC has a history of buying and pillaging companies to bolster their sagging bottom line. what will they do when there isn't anymore left?
jjj

Ithaca, NY

#20 Jan 21, 2009
I used to work for Yellow a long time ago. I was a middle manager that had an excellent repore with most of the dock, road, city, and hostlers. It is not the unions fault, its not the company's fautl. The country is in turmoil right now, because we had a leader, used lightly, that did not react to the issues. Once all of Yellow's deal's have gone through, it will become the great power house again. "Union brother" sucking up the OT.... It's called survival, if you need to work it, then take it. It's not your fault that one of your co workers overstretched their means...
LAW Mgr

Portland, OR

#21 Jan 27, 2009
Overtime is a flexible commodity. You can cut back or increase as needed. YRC has made errors. The biggest is taking to long to combine all aspects of the company. Yellow and Roadway continue to compete for frieght. Competition reduces cost and profits.

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