YRC again avoids bankruptcy...
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa?s Plea - Bloomberg.com
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa?s Plea - Bloomberg.com
Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa’s Plea
- Thread starter OntarioVanMan
- Start date
You noticed that too?
I was thinking "why" the generousity of the bondholders now?
Is there something in there to sweeten the deal?
Are they promised something in return?
No one does something for nothing.
I'd like to see the small print on this deal...
The small print probably has a provision for the taxpayers to be left holding the bag when this thing finally implodes. I've got stock in one large LTL company and I am not looking to invest in another one.
I wish I had of invested a few bucks in E-1 stock when it was .63 a share...now at $1.30 in less then 6 months. Now I think it is too high to buy.
chefdennis
Veteran Expediter
Yeap, look for the Fed Gov to own a Trucking company shortly...this debt exchange by the bond holders won't let YRC last, they will burn thru whatever cash they can keep by postponing debt payments in no time and the Fed will step in and take control.......one more nationalized free market business...that should be let to go BK, but with a "freind of the union" in the WH, not too sure that will happen......probably end up with another taxpayer funded "bailout".......
You don’t need to read the fine print to see the root cause to this situation: the ultimate collapse of a company once again due to the greed, complacency, and ever-declining productivity of the union. Unionism has become a significant contribution to the downfall of the American economy.