Bird One

Topic 28512 | Page 1

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Bobcat_Bob's Comment
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I remember about a month ago you said things are improving at your current company which I hope continued.

But if you are still kicking tires a little birdie told me we may be hiring again real soon as business has picked up.

PackRat's Comment
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It will probably pick up some more, once YRC finally goes under.

Banks's Comment
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It will probably pick up some more, once YRC finally goes under.

If they go under. I thought YRC was a goner after their mess with their health insurance, but it looks like their Union has some government pull and they got a hefty bail out or loan, I'm not sure with.

Rumblings at my hub say the move was premeditated to get the money and they were never in that bad of a spot. I have to wonder if that's the case because I recently got a notification from indeed telling me their hiring.

Daniel B.'s Comment
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All my customers hate YRC. I steal their freight a lot. We are hiring PT dock and linehaul here in SAC. Its back to super busy and they're begging for guys to run line on the weekends. Combo drivers are all doing routes again.

Linehaul:

Linehaul drivers will normally run loads from terminal to terminal for LTL (Less than Truckload) companies.

LTL (Less Than Truckload) carriers will have Linehaul drivers and P&D drivers. The P&D drivers will deliver loads locally from the terminal and pick up loads returning them to the terminal. Linehaul drivers will then run truckloads from terminal to terminal.
Mikey B.'s Comment
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It will probably pick up some more, once YRC finally goes under.

YRC gives government 30% stake in its latest financial bailout - FreightWaves Jul 1, 2020 · $700 million loan and the government's equity stake Tranche B allows the company to fund capital expenditures (capex) on tractors and trailers. This tranche will carry the same interest rate but require all cash repayment. No principal repayment appears to be required until both loans mature on September 30, 2024.

It's my understanding this is at least the third $600-$800 million dollar bailout YRC has gotten from the government even though the entire company has only about $100 million in assets. So I wouldn't hold my breath waiting for their doors to close.

PackRat's Comment
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It will probably pick up some more, once YRC finally goes under.

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YRC gives government 30% stake in its latest financial bailout - FreightWaves Jul 1, 2020 · $700 million loan and the government's equity stake Tranche B allows the company to fund capital expenditures (capex) on tractors and trailers. This tranche will carry the same interest rate but require all cash repayment. No principal repayment appears to be required until both loans mature on September 30, 2024.

It's my understanding this is at least the third $600-$800 million dollar bailout YRC has gotten from the government even though the entire company has only about $100 million in assets. So I wouldn't hold my breath waiting for their doors to close.

Right. All the money is going to the over extended pension plan.

I would rather see them fold then more of our money get dropped into that bottomless pit.

Everybody remember this: The government does not make any money. It's our money that these guys are wasting, IMHO.

Banks's Comment
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That's not an opinion, that's a fact. It's a bottomless pit indeed.

Bobcat_Bob's Comment
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I cant believe they keep getting money I kinda think this is their last stand but then again I thought that for 10 years now.

Mikey B.'s Comment
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Sadly this is why they are in business today.

“YRC is a leading provider of critical military transportation and other hauling services to the US government and provides 68 percent of less-than-truckload services to the Department of Defense,” the Treasury Department said.Jul 1, 2020.

It pays...literally....to know people in the DOD.

Bird-One's Comment
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Hey Bobcat.... Thanks for heads up. I really apprwciate it. Were doing OK. Tanker work picked up which has me busy. If the schools reopen we will pick up even more. I'll keep it in mind though. I'll be with this company 2 years soon. I'm in a good spot.

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