Trucking News: YRC obtains $700 million government loan in exchange for 30% stake in company.

ironpony

Professional Pot-Stirrer
Supporter
In exchange for $700 million in loans, YRC gave the federal government a 30% stake in the company. Coupled with recent news that YRC pushed off payments in its benefit plan that provides coverage for current and retired workers, paints a picture of a company mired in debt, that may default on this public loan made with tax dollars.


YRC defers benefit plan payment
 
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Duck

Quack
Supporter
Is YRC too big too fail?
I hate corporate welfare.
YRC is union. You know the kind of element that attracts.
If they get laid off, they're gonna milk that unemployment for every penny they can get. And in the meantime they'll be having temper tantrums in the streets and pulling down statues.
Maybe it makes more sense to keep them busy.
I have no idea if they'd collect $700 million in unemployment and welfare though. It might be close.
 

Sinister

Trailer Park Wisdom. Free.
Staff member
Supporter

Humble pie

Hated by everyone... loved by all
Supporter
Here's an article you can read without a paid subscription. It says they got 600 million back in September too.

That's like trying to repair a ship that's already sunk.

They’ve been in trouble for years and years. It’s not the government’s job to prop up poor business models.
 

Mike

Well-Known Member
Staff member
Here's an article you can read without a paid subscription. It says they got 600 million back in September too.

That's like trying to repair a ship that's already sunk.

They almost went out of business a few years ago as well. It’s a failed company and needs to be flushed down the toilet.
 

Mike

Well-Known Member
Staff member
Had I not been on vacation and not keeping up with things, this would have been a great opportunity to double your money.

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Mike

Well-Known Member
Staff member
Normally I would agree but I have no use for single axle day cabs so it wouldn't help me none.
Any! It wouldn't help you "any". You're Math Sux.
 

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