Like I've said many times in the past, UPS manager for 30 plus years, UPS makes money in spite of the IBT, not because of it. Tell me one, just one positive the IBT provides UPS. Don't tell me about "providing the workforce", that has no validity. First, most UPS teamsters are great people that do a great job, many times in spite of the union, who's message often is to the good people not to do too much, because it makes the non perfomers look bad. Secondly, when is the last time the IBT hired anyone at UPS? UPS has and hopefully always will hold people accountable to the hundreth of an hour, and spends millions to do it. That is why they make money, not because of some business agent showing up wanting to make an issue out of a supervisor picking up a package.
I'm asking you to see how much of DD you have put in to this whole story? I don't just act cuz someone on this board said so...
% of premium is the key. But, YRC has too much baggage... How much is that market share worth?
3 years ago UPS paid 6.1 billion to get out of the Central States Pension Fund.
If they buy YRCW they will be getting themselves right back into that pension fund.
They are NOT going to do that. Not this year, not next year, not ever.
Stock deal. Fair enough...
But, What % premium do you expect (If any)
If the RS happens at $0.5 (10:1) and say YRCW is @ $5.00. and UPS @ say $60. How many shares of UPS would you get? What is your estimate?
As soon as YRC bought Roadway, then USF, all the employees feel like they are in this state of mind from what I can tell.