Yes if they are owned by the same company, which I m pretty sure they are, they will all go bankrupt. Remember Chapter 11 bankruptcy doesn t mean they are out of business, just that they must restructure. Regardless of what happens, it is already obvious that bondholders are about to trade debt for equity, which will happen regardless.The problem I see, is YRC has a huge network which is losing revenue and volume at a much faster pace than the rest of the industry. Most of the non union carriers are still profitable, and have lost much less revenue. YRC is losing so much volume so fast, it is going to be very difficult for them to right size the company to a profitable level. Especially with the long term union contracts I m sure they have. At the current level of revenue, they would probably have to get rid of 30%-40% of the company to be profitable. As they continue to get negative exposure and lose market share, it is going to be tough to get that back. Even in good times freight companies make very slim profit margins. YRC has got some serious problems in the near future.
Wednesday, January 11, 2006
If YRC goes Bankrupt will USF go out of buisness too? -
will all 3 yellow roadway and usf go out of buisness?
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