YRC Worldwide (YRCW) Sinks On Exchange Offer That Could Give Noteholders 95% Of Common Stock
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Shares of YRC Worldwide Inc. (Nasdaq: YRCW) are getting slammed 51% today after announcing plans for an exchange offer this week.
YRC Worldwide said noteholders would exchange approximately $536.8 million in face value of Notes plus accrued and unpaid interest for shares of common stock and new Class A Convertible Preferred Stock, which together on an as-if converted basis would represent 95% of the company's common stock.
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YRCW
YRC is a giving company from the community to its employees which as Jim Cramer said "Will ride the wave" and "You can ride with YRC" and he is extremely picky. The negative talk is fueled by the competitions dreams. LOL
Yrcw
Bad management and customer service has destroyed YRCW. The share holders should demand the resignation of the top exectuives.
YRC
Buy Stander, the difference is, Fedex, Old Dom and Conway aren't as debt/cash strapped as YRC. YRC is experiencing similar scenario as CF (Consolidated Frtwys) prior to its demise. We know because we went from CF to YRC. However, in the CF era, bailouts were unheard of. This time around it's a whole new game. The bailout era is here and banks will go down with it...lots to lose. I'll tell you, cash strapped businesses along with competitors' attacks doesn't smell good. Customers are going where the bottom line means PAY LESS. They're not thinking of saving YRC. They're concerned for their bottom line... saving where they can right now. But you are correct, we are still in the game and holding on to hope.
YRCW Still In The Game
Every time I turn around someone is always bashing someone or something. Rumor for years was that Central Freight was going out of Buisness...... and they are still around. Looks to me that even in this here stock exchange that people fall victom to Gossip and also follow the black sheep. Seems everyone is so focused on YRCW that no one seems to see that competitors like FEDEX, OLD DOMINION, CONWAY, etc have also fallen into the mix as well. All Freight companies have been under bidding YRCW even if not making a profit in return in the hopes of Shutting YRCW down. Most Freight Companies did not anticipate YRCW to be around this late in the game and are now stuck with freight that is putting them too in the negative. Negative words can be posted on a blog and people seem to be more interested in the read. Yes, the stock market went down the drain with the Economy but we can expect one thing from this point on and that is upswing. Yet some analyst will release his Opinion/Assumption and most will go running.
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YRCW
New Penn on Nov 2, 2009 10:53 PMBill: I wish he left us alone. We use to operate in the 80's!