January 23rd, 2009 → 11:47 pm @ MReed // 7 Comments
In order to try to keep trucking company YRC from going under, its lenders have given it an extension on paying bills until the middle of February. This can allow discussions to amend its credit agreement to continue.
YRC had a few missteps that took place in 2007 and 2008, and since then the company has had some trouble rebounding. However, this extension by its lenders is showing that they believe in what YRC is trying to do and that they believe that the company can restructure itself and straighten out its problems. This is good news not only for the company but for the trucking industry as well, because it indicates that there are lenders out there who understand the importance of the trucking industry, how much it’s struggling at this point in the economy, and that it will have a place when the economy recovers.
Allowing companies like YRC to go under could be very detrimental for the growth of the country, and since YRC’s debt ration appears to be improving, it may have a bright future in sight.
Tags: Debt, trucking company, YRC
Tim
7 months ago
I’m a warehouse manager who quit using YRC cause their service became so aweful after the merger. I cut them off completely. They we’re getting around $100,000 a year from us, in freight. I would hate to see them go under, but doubt if I’d ever ship with them again.
leo molina
8 months ago
the reason why, i made a mistake of buying a chevy impala, sold my TOYOTA CELICA,, I am an idiot, was to help the big tree, what a poor quality, depreciation value just Garbage, I am a foreigner helping american cos,and found out some are made in mexico, but nissan, toyota 38 plants in us, subaru,mercedes in alabama provide jobs, and good ass quality vehicles not like those detroit junks
C Christian
1 year ago
YRC is on its way out. The place continues to spiral downward. They have cut the workforce in half and are not even able to get the job done. Freight is late delivering because YRC can barely pick it up. Damages are through the roof because freight is piled in trailers because of lack of workers and supervision. Every employee is fed up and exausted from long hours as well as from being treated like dogs. This company has no respect for its employees nor its customers. I advise all customers to find a carrier that will take care of you and your business because this company and its CEO and directors have no clue of your needs nor its own employees.
Benjamin Winston
1 year ago
call me when my load is ready, send me home empty if theres nothing available. Sell Holland, Turn the trucks up to match UPS’s speed. Call some dock workers back to get the loading done, and call some city drivers back to pickup the freight.
Rocky
1 year ago
unions are the problem, yrc, the big three. paying people to jack around all day is the problem.
Michigan Man
1 year ago
I work for YRC as a Mechanic and its Bull Shit that Wall street gets money but YRC could go under? Keep helping the rich and screw the poor people who work their asses off. Id like to see a man on Wall street do my Job! WHERES this Change that we heard so much about leading up to November? Something needs to be done or this country and Michigan especially will be a lost cause. But then again if people bought american Cars we wouldnt be here would we? THe big 3 is hurting and so is everythig else american because of it I know a wallstreet banker he owns a BMW, another owns a Porche and you retards in right to works states buy Honda and Toyota, you only have yourselves to blame for this countries economic problems. THe Big 3 Ford Gm and Chrysler 4 you jack asses that buy foreign vehicles is the Back bone to this country doing well. At war we build tanks and Planes and Hummers and Jeeps and all other Military Vehicles our essembly lines are always ready on a 24 hour notice. What will happen if the big 3 go under Jap and German made military Vehicles? Our Grand Parents would kick our ass if they could see what we did!
john
1 year ago
This company wastes more money on managers that do nothing.They could streamline operations and eliminate most of the satelite terminal managers jobs.This is a easy fix, you pay your supervisors a little more and have a operations manager cover a couple of the terminals.I have seen this done and it works.